Southern Silver (SSV.V) has now completed 91 holes for a total of almost 36,000 meters of drilling at Cerro Las Minitas, and has now designed a new drill program for an additional 10,000 meters of drilling which should increase the company’s confidence in the El Sol and Blond deposits.
A part of the drill program will also focus on the La Bocona target which is located within walking distance from the Blind-El Sol- Santo Nino deposits, and the additional drill holes should allow Southern Silver to complete a maiden resource estimate at La Bocona. This will help the company to reach its exploration target of in excess of 200 million silver-equivalent ounces.
Southern Silver currently owns a 70% stake in the property with joint venture partner Electrum Global Holdings owning the remaining 30%. Electrum has the option to increase its stake to 60%, and has indicated to Southern Silver it will accelerate its earn-in process way ahead of the May 2019 deadline, so we would expect the companies enter into a 40/60 joint venture before next summer.