Multiple Holes Planned to Test Vein with Known High-Grade Mineralization
Vancouver, September 28th, 2022 – Summa Silver Corp. (“Summa” or the “Company”) (TSXV:SSVR) (OTCQX:SSVRF) (Frankfurt:48X) is pleased to announce that it has resumed exploration drilling at its high-grade Mogollon silver project near Silver City, New Mexico.
* Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). True widths are not yet known. 1. Reported May 3rd, 2022, 2. Reported March 3rd, 2022
Galen McNamara, CEO, stated: “The Mogollon project continues to represent a rare American discovery opportunity that we are well positioned to systematically advance. Our work utilizes a modern best practice approach with key pillars that focus on environmental stewardship, community engagement and successful exploration. The team is very much looking forward to following up on the drilling already completed and to aggressively pursuing the growth of the mineralized zone around the Consolidated Mine.”
Figure 1: Mogollon Project target area and veins
Figure 2: Consolidated Extension Drilling Area
The Mogollon drill program is designed to test for un-mined extensions of the Consolidated Mine along-strike and down-dip centered on the north-striking Queen Vein. Results from the first 6 holes drilled by the Company have been reported (see March 3rd and May 3rd, 2022 news releases). All six holes intersected broad zones of epithermal-related alteration, veining and brecciation with locally strong concentrations of silver-gold-bearing sulfide mineralization. Assay highlights from the first phase of drilling include 11.6 m at 429 g/t silver equivalent (220 g/t Ag, 2.70 g/t Au) in MOG22-04, located south of the Consolidated Mine and 31.0 m at 448 g/t silver equivalent (129 g/t Ag, 3.88 g/t Au) in MOG22-05 located north of the Consolidated Mine.
The first is a step-out near MOG22-05. Subsequent holes will be systematic 50 to 100 m step-outs within a broader 500 x 350 m area along-strike and below the Consolidated Mine (Figures 2 and 3). This target area only represents less than 1% of the total prospective vein and structure length on the property. All other prospective areas, including projected vein extensions on the newly acquired claims, remain largely under-explored.
Figure 3: Consolidated Extension Longsection
About Summa Silver Corp
Summa is a Canadian junior mineral exploration company. The Company owns a 100% interest in the Hughes property located in central Nevada and has an option to earn 100% interest in the Mogollon property located in southwestern New Mexico. The Hughes property is host to the high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929. The Mogollon property is the largest historic silver producer in New Mexico. Both properties have remained inactive since commercial production ceased and neither have seen modern exploration prior to the Company’s involvement.
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ON BEHALF OF THE BOARD OF DIRECTORS
Galen McNamara, Chief Executive Officer
Investor Relations Contact:
(778) 994 1365
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