Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (the ‘Company’ or ‘Southern Silver’) reports additional assays from drilling which continues to outline extensions of mineralization on the recently acquired Puro Corazon claim and identified further thick intervals of high-grade and strongly silver-enriched polymetallic mineralization.
Highlight assays include:
a 5.8 metre interval averaging 173g/t Ag, 1.5% Cu, 1.8% Pb and 17.3% Zn (781g/t AgEq)(1) from drillhole 25CLM-210; and
a 10.8 metre interval averaging 121g/t Ag, 0.3% Cu, 5.1% Pb and 3.9% Zn (348g/t AgEq), including a 3.1 metre interval averaging 225g/t Ag, 0.6% Cu, 9.4% Pb and 7.1% Zn (642g/t AgEq)(1) from drillhole 25CLM-210
a 3.0 metre interval averaging 715g/t Ag, 0.1g/t Au, 7.5% Pb and 1.0% Zn (890g/t AgEq)(1) from drillhole 25CLM-212
(1) see AgEq calculation criteria in notes to Table 1. Intervals are reported as estimated true thickness unless otherwise indicated
The drill results, specifically from holes 25CLM-210 and 25CLM-215 continue to extend mineralization to depth, below earlier reported results from the Puro Corazon target as well as testing mineralization toward the southern edge of the claim with drill holes 25CLM-211 to 25CLM-214. Previously released intercepts from this round of drilling include:
10.5 metres grading 1,115g/t AgEq (see News Release dated December 1, 2025) from 25CLM-203
10.4 metres grading 743g/t AgEq (see News Release dated January 6, 2026) from 25CLM-205; and
15.3 metres grading 581g/t AgEq (see News Release dated January 27, 2026) from 25CLM-206
Drilling continues to demonstrate the continuity of the high-grade replacement lens first identified in drill holes 25CLM-203 and 25CLM-205 and has now extended mineralization to a depth of over 360 metres below surface in the main skarn target.
Twenty-one core holes out of twenty-two planned holes have been completed to date and a final hole is in progress. Analyses from fourteen drill holes have now been reported and further assays, including those from underground sampling of the historic Puro Corazon workings, are anticipated over the coming weeks.
Figure 1: Plan view of the drilling on the recently acquired Puro Corazon Claim.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/283120_2dd474ba74f959d9_002full.jpg
Figure 2: Longitudinal Section of the Puro Corazon Target. Note: pierce points reflect intercepts into the main Skarn zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/283120_2dd474ba74f959d9_003full.jpg
Table 1: Select Assay Results from the Cerro Las Minitas project.
Collar Data
Hole #
Az
Dip
Depth
From
To
Interval
Est. Tr. Thck.
Ag
Au
Cu
Pb
Zn
AgEq
Notes
Deg (UTMN)
Deg
(m)
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
25CLM-210
85
-54
593
46.6
48.0
1.4
1.1
173
0.2
0.0
2.2
0.7
244
25CLM-210
323.4
337.3
14.0
10.8
121
0.0
0.3
5.1
3.9
348
inc.
323.4
324.1
0.8
0.6
350
0.0
1.1
15.7
15.3
1141
and inc.
330.3
334.3
4.1
3.1
225
0.0
0.6
9.4
7.1
642
25CLM-210
346.1
346.7
0.6
0.5
267
0.0
1.1
13.5
18.6
1100
25CLM-210
355.0
356.1
1.1
0.9
259
0.0
0.3
7.1
6.4
583
25CLM-210
406.6
436.4
29.8
23.0
70
0.0
0.5
0.7
6.8
301
38% Dilution
inc.
421.2
428.7
7.5
5.8
173
0.0
1.5
1.8
17.3
781
25CLM-210
448.4
451.6
3.3
2.5
116
0.0
0.1
0.5
7.3
328
25CLM-211
49
-59
405
26.4
27.8
1.4
0.7
95
0.0
0.1
3.6
5.9
325
25CLM-211
266.4
305.0
38.6
21.0
34
0.0
0.1
0.4
0.2
58
Anomalous composite
inc.
275.8
277.1
1.3
0.7
121
0.0
0.5
0.3
0.1
169
and inc.
298.9
299.6
0.7
0.4
358
0.1
0.5
7.6
2.3
603
25CLM-212
68
-64
498
397.0
401.3
4.3
3.0
715
0.1
0.0
7.5
1.0
890
inc.
397.0
399.0
2.0
1.4
1455
0.2
0.0
14.8
1.0
1773
25CLM-212
411.7
412.8
1.1
0.8
333
0.1
0.0
0.9
0.0
354
25CLM-212
417.0
420.8
3.8
2.7
309
0.0
0.1
1.6
0.3
360
25CLM-213
45
-60
252
148.9
150.0
1.1
0.7
60
0.0
0.2
1.5
1.3
141
25CLM-213
182.9
184.2
1.3
0.8
61
0.0
0.1
1.4
1.3
131
25CLM-214
45
-45
339
117.6
118.9
1.3
0.9
131
0.0
0.5
4.3
3.9
358
25CLM-214
207.3
211.5
4.2
2.9
29
0.0
0.0
1.0
1.6
92
25CLM-214
226.7
228.0
1.3
0.9
22
0.0
0.1
1.2
1.0
81
25CLM-215
96
-48
492
326.9
327.4
0.5
0.2
488
0.2
0.6
14.7
17.8
1293
25CLM-215
343.9
352.4
8.5
4.0
60
0.0
0.2
2.9
2.4
190
57% dilution
inc.
343.9
344.4
0.5
0.2
179
0.0
1.7
5.3
3.1
485
and inc.
351.3
352.4
1.1
0.5
241
0.0
0.3
12.8
12.4
839
25CLM-215
417.3
423.1
5.8
4.8
49
0.0
0.1
0.1
9.6
320
inc.
417.3
419.4
2.1
1.8
9
0.0
0.1
0.0
17.2
480
25CLM-215
434.0
435.5
1.4
1.2
243
0.0
0.0
0.5
0.0
254
Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis,
High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using prices of $2,800/oz Au, $32/oz Ag, $4.50/lb Cu, $0.95/lb Pb and $1.25/lb Zn.
AgEq and ZnEq calculations utilized relative metallurgical recoveries of Au 48.6%, Ag 93%, Cu 70%, Pb 87% and Zn 93%.
Composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone. Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.
Next Steps
The Company is planning to incorporate the results of the Puro Corazon drilling program into the much larger Cerro Las Minitas project which is expected to significantly enhance the project economics. Final assays are anticipated to be received by the end of the first quarter of 2026, after which the Company intends to:
update the Mineral Resource Estimate of the Cerro Las Minitas project; followed by
continue to advance baseline data collection and permit readiness review
The Company reports that work on the Cerro Las Minitas project continues advancing numerous upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies.
As currently modelled, the Cerro Las Minitas project features a large-scale underground mining operation with robust project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas project please refer to Southern Silver’s news release dated June 10, 2024.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Located in the same State as the Cerro Las Minitas property is the newly acquired Nazas, gold-silver property. Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway, both located in southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
‘Lawrence Page’
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver’s website at southernsilverexploration.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking statements in this news release include plans to advance and develop the CLM property including updating the Mineral Resource Estimate followed by an update of the PEA. These statements are based on a number of assumptions, including, but not limited to, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the Company’s projects, and the availability of financing for the Company’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions.
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