Summa Silver (TSXV:SSVR) (OTCQB:SSVRF) (Frankfurt:48X) Encounters Visible Mineralization at Mogollon and Announces Mobilization to the Hughes Property
- Summa Silver has provided an update from its on-going drill program at Mogollon
- The Company has now completed six holes at the Consolidated Mine, where there currently are two operating drill rigs
- All six holes intersected zones of silver-bearing sulfides in the Queen Vein
- Summa is now in the process of mobilizing two more drill rigs to the Hughes Property in Tonopah, Nevada
- The company will release more information about this upcoming drill program soon
- Shares in Summa Silver (SSVR) are currently down 2.46% on the TSXV, trading at CA$1.19 per share
The 2,467-acre Mogollon Property is located in the historically prolific Mogollon mining district of southwest New Mexico, approximately 120 km north of Silver City.
The Company has now completed six holes of its planned 25,000-metre 2022 drill program at the Consolidated Mine, first announced in a January news release. All six of the holes drilled so far have intersected zones containing local concentrations of silver-bearing sulfides in the Queen Vein.
Drill core from holes MOG21-01 to MOG22-04 have been sampled and dispatched to Paragon Geochemical in Sparks, Nevada for assay analyses. Drill core from holes MOG22-05 and MOG22-06 are currently being processed at site and prepared for shipment.
“We are off to a strong start at Mogollon,” remarked Summa Silver CEO Galen McNamara, “and the team is excited to continue testing the Queen Vein around the old Consolidated Mine where visual results so far have suggested the presence of significant mineralized zones.”
Summa has two rigs currently drilling at the Consolidated Extension target, where the Company plans to drill a minimum of 50 holes to achieve 50-metre spacing between holes over a 500- by 300-metre area. This first target, which is already promising, represents only 1.5% of the total vein and structure length present on the Mogollon property.
Mobilizing to Tonopah
Now, Summa is in the process of mobilizing two more drill rigs to the Hughes Property in Tonopah, Nevada, where drilling is expected to begin immediately. The Company will release more information about this upcoming drill program soon.
“At both projects, drilling will be concentrated on testing veins with known high-grade mineralization, mostly on a step-out basis,” said Mr. McNamara. “We look forward to releasing assay results from both projects as they become available.”
Summa Silver Corp. is a Canadian junior mineral exploration company. The Company’s interests include the Hughes property in central Nevada and the Mogollon property in southwestern New Mexico.
Summa Silver (SSVR) is currently down 2.46% on the TSXV, trading at CA$1.19 per share as of 3:55 pm EST.
On the OTCQB, SSVRF is down 5.35% to US$0.902 per share. And in European markets, Summa Silver (Frankfurt:48X) is down 2.32% on the day to EUR 0.80 per share.
About the Kinvestor Network
The Kinvestor Network is an exclusive network of investors that want access to enhanced research and reporting. Members of the Kinvestor Network have access to exclusive articles, reports, models and various other tools that investors may find useful.
Visit the Kinvestor Network for more free content, including in-depth research reports, industry documentaries, CEO interviews, and more.
Please read this disclaimer in its entirety before reviewing any opinions, views or information expressed by Kin Communications Inc. (“Kin”).