Southern Silver (SSV.V) has released the assay results of the deeper zones of hole 125 (the upper zone was reported on before) and hole 127.
At hole 125 which was drilled into the Mina La Bocona target and was extended after encountering an initial 30.9 meters (true thickness) of 131 g/t AgEq, the drill bit encountered a very interesting area of mineralization. Of particular interest is the 33.2 meters true width containing 435 g/t AgEq starting at a depth of almost 217 meters, and the majority of the mineralization was encountered in four distinct zones of mineralization with an average true width of 4 meters, 5.2 meters, 1.2 meters and 4.2 meters. All four zones have an average grade exceeding 678 g/t AgEq and these high grade areas in four separate mineralized interval make up for the low-grade or barren rock in between.
And about 60 meters deeper down hole, the drill bit intersected another very high-grade zone. While the grades are phenomenal (1937 g/t AgEq of which about 55% is silver with lead and zinc as main contributors to the silver-equivalent calculation), the true width of this interval is just 0.8 meters. Very narrow but a very intriguing assay result ànd location, as this interval was encountered adjacent to the Central Intrusion. This will likely result in Southern Silver continuing its exploration focus while figuring out how to drill for potential down-dip extensions of the sulphide mineralization there.
The main takeaway of hole 125 is that this creates the possibility there is a second high-grade sulphide lens on the east side of the Cerro, and that could be a game changer for Southern Silver as the company is on its way to complete a 10,000 meter drill program and is progressing towards an updated resource estimate and a maiden PEA on the project.
Disclosure: The author has a long position in Southern Silver. Southern Silver is a sponsor of the website. Please read our disclaimer.