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Summa Silver Corp
Symbol SSVR
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Close 2023-03-06 C$ 0.62
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Summa Silver completes drilling at Mogollon

2023-03-06 11:14 ET - News Release

Mr. Galen McNamara reports


Summa Silver Corp. has provided a drilling update from the high-grade silver-gold Mogollon project, near Silver City, N.M.

Key highlights:

  • Four more holes have intersected the Queen vein marked by intermittent to continuous quartz-carbonate veins and breccias between three and 61 metres in core length featuring local zones of silver-bearing sulphides.
  • Core photos of the Queen vein intersections from all holes drilled to date are available on the company's website.
  • Queen Vein zone intersections to date average 66 per cent mineralized where assays have been received and as defined by samples exceeding 100 grams per tonne (g/t) silver equivalent (AgEq).
  • Drilling focused on expansion around the historic Consolidated mine has intersected visible silver sulphide mineralization where MOG23-16 is a 100-metre stepout and MOG23-19 is a 175-metre stepout from holes previously drilled by the company.
  • The mineralized high-grade zones remain open in multiple directions and collectively cover a strike length of 500 metres (m).
  • Assays are pending for eight holes and drilling at the Mogollon project is now complete for the season.
  • Multiple additional targets are being developed at the Mogollon project as the company advances extensive 3-D (three-dimensional) geological modelling efforts.
  • Planning for a Q2 drill program on the Hughes project at Tonopah, Nev., is well under way and details will be shared when complete.

Galen McNamara, chief executive officer, stated: "Stepout drilling at the Mogollon project has proven that substantial concentrations of high-grade silver and gold remain in this historic American district. With zones largely open to continued expansion, we look forward to resuming drilling here in the fall. Additionally, extensive 3-D [three-dimensional] geological modelling has revealed multiple additional targets which will demand drill testing. In the meantime, we are planning a significant drilling program on the Hughes project at Tonopah, Nev., to begin in the spring. We will share more details on our plans when they are completed."

Mogollon drill program

The focus of the recently completed multirig drill program at the Mogollon project was on testing for unmined extensions of the Consolidated mine, centred on the north-trending Queen vein. Holes were drilled over a strike length of approximately 500 metres and near-vertical, downdip extent of over 350 metres beginning at approximately 130 metres below surface. All the holes reported in this release were drilled north of the Consolidated mine.

Hole MOG22-16 was designed to test for the updip extent of mineralization 100 m above MOG22-05 (31.0 m at 448 g/t silver equivalent; 129 g/t silver (Ag) and 3.88 g/t gold (Au)). The hole intersected one of the broadest zones of epithermal-related veining drilled to date. The zone consists of numerous centimetre-scale intervals of colloform-banded quartz veins and quartz-cemented breccias increasing in frequency over 17 m toward a 36-metre zone of polyphase, quartz-rich hydrothermal breccias at 236 m to the bottom of the zone at 273 m. Mineralized sections were first intersected at 241 m downhole and mostly comprised intermittent zones of finely laminated silver sulphides in local banded quartz-rich clasts within brecciated intervals. At least five zones of visible silver sulphide mineralization were intersected within the 58-metre intercept across the Queen vein system.

Hole MOG23-19 intersected a similar broad zone through the Queen vein system. The hole intersected the Queen vein approximately 85 m updip from MOG23-016 and 185 m updip from MOG22-05. The zone consists of numerous intervals of brecciated quartz veins and quartz-cemented breccias increasing in frequency over 22 m toward a thick 39-metre zone of polyphase, quartz-rich hydrothermal breccias and banded quartz-carbonate veins at 153 m to the bottom of the zone at 192 m. A few local zones of silver-sulphide mineralization were noted during logging across the impressive vein zone.

Holes MOG23-17 and -18 were designed to investigate the downdip extent of mineralization intersected in MOG22-08 (17.8 m at 339 g/t silver equivalent; 143 g/t Ag and 2.46 g/t Au). Hole MOG23-017 was an 80 m stepout downdip from MOG22-008 and MOG23-018 was a 75-metre stepout along strike from MOG23-017. Both holes successfully intersected narrow locally well-developed zones of epithermal-related veining and brecciation, however, silver sulphides were not noted during logging.

The recently completed drill program at the Mogollon project consisted of holes drilled on 50-metre to 100-metre centres across the north-south-trending Queen vein. Results to date have outlined two key areas, north and south of Consolidated, that require additional infill and stepout holes to better constrain plunge orientations and the lateral and vertical continuity of the high-grade mineralized zones.

All samples will be dispatched to Paragon Geochemical in Sparks, Nev., for assay analyses. Results are pending.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. McNamara, PGeo, the CEO of the company and a qualified person as defined by National Instrument 43-101.

About Summa Silver Corp.

Summa is a Canadian mineral exploration company. The company owns a 100-per-cent interest in the Hughes property located in central Nevada and has an option to own 100-per-cent interest in the Mogollon property located in southwestern New Mexico.

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