Southern Silver Exploration Corporation reported today that State permits have been received and crews have been mobilized for the start of a +5,000 metre diamond drill program on its southern Arizona and New Mexico gold/silver/copper projects. Drilling is expected to commence in the second week of December and continue into the next quarter of 2008. The company also continues its drilling program at its extensive Minas de Ameca project in Jalisco State, Mexico.
The newly announced drill programs will begin at the Tombstone South property followed by drill testing at the recently acquired Dragoon property, after which the rig will be moved to the Oro property in southern New Mexico. Each of these phase one exploration work programs will be followed by the necessary phase two programs pending evaluation of the phase one results.
TOMBSTONE SOUTH, ARIZONA
Up to 2,000 metres of Phase 1 core drilling is planned to test prospective stratigraphy, structures and a series of mineralized, east-northeast-trending fracture zones, which were initially identified in the northwest corner of the Tombstone South property and can be traced on surface through a series of outcrops and historic workings for up to 600 metre strike length. A recently completed NSAMT geophysical survey on the property suggests that these structures are through-going and may be traced into gravel covered areas in the eastern and southern portion of the claim block.
Since acquisition of the property in 2005, Southern Silver has added extensively to the claim group through the acquisition of additional claims over contiguous prospective areas. The Tombstone project has now expanded from its original 200 hectare claim block by approximately 1,600 hectares providing a “district scale” target which encloses a discrete magnetic high located 1.8 km to the east of the original claims.
Since acquisition of an option (see NR-14-07) in September 2007 to purchase a 100% interest in the Dragoon property, which comprises of 68 unpatented mining claims and four State leases, Southern Silver has undertaken a compilation of the existing database and has identified several relatively shallow drill targets for immediate follow-up. Phase 1 drilling on the project will entail three to five drill holes for an anticipated 1,500 metres of core drilling.
Bonanza silver ores, totaling over 50 million metric tonnes were mined from the Tombstone District in the late 1800’s and early 1900’s from clusters of Ag-Pb-Mn-rich carbonate replacement bodies in the highly prospective Cretaceous-age lower Bisbee formation and underlying Paleozoic limestones, spatially associated with a prominent district-wide magnetic high.
Although not exposed at the surface on the Tombstone South property, the Lowermost Bisbee Group and the Paleozoic-age Naco Formation are inferred to be present at relatively shallow depths (<400 metres) based on surface mapping.. Elsewhere in Arizona these units host significant mines, such as those at Bisbee (2.8 MMoz Au, 102 MMoz Ag and 7.8 billion lbs Cu), Christmas (0.36 billion lbs Cu) and Magma (0.7 MMoz Au, 34.5MMoz Ag and 2.5 billion lbs Cu).
ORO-AMERICAN MINE CLAIMS, NEW MEXICO
Southern Silver also reports the acquisition of a significant claim package in the historic Eureka Mining District in Grant County, New Mexico, which is located approximately 40 kilometres southwest of the Silver City porphyry copper district. The 1,150 hectare “Oro Project”, comprises eight patented mining claims and 131 BLM mineral claims and has been accumulated in stages over the past fifteen months.
An agreement dated August 28, 2007 entitles Southern Silver to earn a 100% interest in the Oro claim block consisting of 131 BLM claims by paying US $690,000 over a five year period subject to a 2% NSR with the right to purchase 0.5% increments thereof for $500,000 per 0.5%.
An agreement dated October 28, 2007 entitles Southern Silver to earn a 100% interest in the American Mine consisting of eight patented lode mining claims inclusive of surface rights to contiguous property by paying US $350,000 over a five year period.
Southern Silver has compiled available historical data, mapped the area and carried out a rock and biogeochemical sampling over a mineralized corridor largely untested by modern exploration. Geological mapping indicates the presence of a prospective northwest trending structural zone. Grab samples of vein material and the biogeochemical survey consistently returned high values of gold, silver, copper, lead and zinc and anomalous values of manganese and antimony which are indicative of a widespread and zoned mineral system with the potential to develop both copper-gold porphyry and silver-rich, polymetallic skarn/carbonate replacement deposits.
The phase one drilling program consisting of up to 1,500 metres is designed to test both high-grade structures below levels of historic mining and prospective Cretaceous-age stratigraphy within the mineralized corridor identified through surface mapping.
EUREKA MINING DISTRICT
The Oro claims occupy the apparent heart of a large Larimide-age, intrusive-related gold, silver and base metal center located in the Little Hatchet Mountains. In 1877, the discovery of lead, copper, and silver created the Eureka Mining District. By 1880, several high-grade base and precious metal mines were in operation in the district, but were mined sporadically due to hostile local inhabitants and fluctuating silver prices. Aggregate reported production from Larimide veins totaled an estimated 2.9 million lbs lead, 1.7 million lbs zinc, 5,000 ounces gold and 450,000 ounces silver derived mainly from ores located above the relatively shallow water table.
The early phase of mining in the Eureka Mining District lasted until the 1920s, when a decrease in metal prices made the mines uneconomic. Limited work has been done in the region since then, with the most recent records of exploration and mining dating to the early 1960s. Historical records indicate that low metal prices were again responsible for the cessation of mining activity in the area in 1960, and that untested targets remain in the vicinity of the old mine workings, particularly at the American Mine, now part of the Oro claim group.
Commenting on the New Mexico project, Lawrence Page, president, said,”The presence of historical base and precious metal mines from the late 19th and early 20th centuries, coupled with a relative lack of modern exploration in the area, make the Oro Project an exciting potential location of future discovery”.
Diamond drilling continues at the Minas de Ameca project with 4,720 metres of drilling in 23 holes completed to date. Fifteen drill holes have now tested an 800 metre strike length of the main San Luis vein structure and to depths of up to 200 metres. A single hole has tested the Copales geophysical target and five holes, of which three were completed to target depths, have tested the Magistral mine trend.
The drill has now returned to the San Luis target to test deeper offsets of high-grade mineralization located along the vein system. Further exploration along the Magistral trend is planned for 2008.
R.Macdonald, P.Geo. is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors
Lawrence Page, President, Southern Silver Exploration Corp.
For further information visit www.southernsilverexploration.com or please contact Jay Oness at 1-888-456-1112 / 604-684-9384 or by email at email@example.com.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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. Southern Silver Exploration Corp. relies upon litigation protection for forward looking statements.