Southern Silver Exploration (SSV.V) has released assay results from an underground channel sampling program at the Puro Corazon mine, which was recently added to the greater Cerro Las Minitas land package. The samples were taken from the sublevels 5 to 14 in the mine, targeting the areas of skarn alteration and mineralization adjacent to the Central Intrusion. Samples were taken adjacent to wider mined-out stopes so they may not necessarily reflect the true thickness or grades.
A total of 1,380 individual samples were collected from 230 channels, and the bullet points below show the highlights of these results.
The company is now working on its 14,000 meter drill program and has completed just under 2,200 meters so far, with assay results still pending. Meanwhile, Southern Silver will update the existing resource, incorporating the drill data from the Puro Corazon claims, and this should be the starting point for an updated Preliminary Economic Assessment. As the 2024 PEA already indicated the project has its merits at a sub-$25, it will be interesting to see what the economics look like at a higher silver price, while also incorporating an inflation-adjusted capex and opex.
Disclosure: The author has a small long position in Southern Silver. Southern Silver is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
