June 1, 2021
54 Auger Holes Average 2.9m at 72 g/t AgEq at Surface Drill Program Featuring Minimum of 10,000 m Progressing Well
Summa Silver Corp. (“Summa” or the “Company”) (TSXV:SSVR) (OTCQB: SSVRF) (Frankfurt:48X) is pleased to announce results from a 54-hole auger drill program completed in 2019 and 2020 which tested the tailings pile from the historic Belmont Mine.
- Widespread Mineralization: All 54 holes were mineralized from top to bottom with an average thickness of 2.9 m and average grade of 72 g/t AgEq* (44 g/t Ag and 0.28 g/t Au). The thickest section of tailings was in BH19-1 where 6.35 m returned 75 g/t AgEq* (49 g/t Ag and 0.27 g/t Au). The thinnest section of tailings was in BH20-21 where 0.10 m returned 74 g/t AgEq* (50 g/t Ag and 0.24 g/t Au).
- Extensive Historic Production: The tailings are the by-product of historic mine and mill production from underground operations in the Belmont Mine, which was a premier producer in the Tonopah mining district and is currently an integral target of Summa’s exploration efforts.
- Large Area and Simple Access: The tailings are situated on patented mining claims and cover an area of approximately 1,200 m by 280 m (84 acres), located immediately adjacent to US Highway 6 (see attached figure).
- Evaluation is On-Going: The Company is initiating both density and bench-scale metallurgical testing with results expected later this year.
- Core Drilling Continues: The previously announced 10,000 m drill program is well underway 6 holes completed. Two core rigs are now fully operational on the project. All holes have intersected zones of quartz veins, stockworks and breccias featuring visible silver-sulfosalt minerals, which is often a strong indication that the core is mineralized. Upon receipt of assays, the results will be compiled and announced in a timely manner
*AgEq based on 100 (Ag):1 (Au)
Galen McNamara, CEO, stated: “The historic Belmont Mine tailings were the original focus of Howard Hughes and his Summa Corporation when he owned the property in the 1970’s, and for good reason. The tailings cover a large area and are extensively mineralized. Although work from the 1970’s can’t be utilized in any modern assessment of reprocessing potential, the historical work gives us a great road map of what to expect from modern study. In the coming months, and in parallel to our extensive drill programs, we will be working on assessing key metallurgical and permitting questions with respect to the tailings.”
For the full news release, including Assay Results, CLICK HERE.