Southern Silver's Mexico Mine Sampling Returns 2,042 g/t Silver Equivalent

en.Wedoany.com Reported - On August 31, Southern Silver Exploration Corp. reported results from the second batch of underground channel sampling at the Puro Corazon mine at the Cerro Las Minitas project, with this batch primarily collected from underground levels 5 through 14. The highest-grade interval was 1.2 meters, averaging 1,057 g/t silver, 21.0% lead, and 21.6% zinc, equivalent to 2,042 g/t silver equivalent; the company stated that all intervals reported in this release are based on estimated true widths unless otherwise noted.

Other key results include 2.8 meters averaging 289 g/t silver, 0.2% copper, 9.6% lead, and 6.6% zinc, equivalent to 665 g/t silver equivalent; 2.3 meters averaging 313 g/t silver, 0.1% copper, 5.4% lead, and 4.7% zinc, equivalent to 554 g/t silver equivalent; and another 4-meter interval averaging 198 g/t silver, 6.0% lead, and 1.9% zinc, equivalent to 367 g/t silver equivalent. This sampling covered skarn alteration and mineralization zones near the central intrusion, as well as mineralized areas on the periphery of the main contact zone.

The current underground program completed a total of 230 channel samples, yielding 1,380 individual samples. Individual sample interval lengths ranged from 0.15 to 2 meters, with most concentrated between 0.5 and 1 meter. Channel samples were spaced at approximately 3-meter intervals and oriented as perpendicular to mineralization strike as possible. Southern Silver collected samples from skarn, hanging wall and footwall, as well as limestone–marble, aplite, and monzonite, based on lithology and mineralization characteristics. Some sample locations are adjacent to previously mined-out stopes, and the company therefore retains limitations on the true mineralization thickness and grades of historical mining areas.

This is the second release of Puro Corazon underground channel sampling results by Southern Silver this year. The first batch, released on July 2, primarily covered shallower zones, with top results including 2.8 meters at 757 g/t silver equivalent, 3.2 meters at 479 g/t silver equivalent, and 1 meter at 1,097 g/t silver equivalent; at that time, the company clearly stated that assay results from deeper underground levels would be released subsequently. The new results from August 31 extend sampling coverage to levels 5 through 14.

The Puro Corazon underground mine has operated intermittently at approximately 50 to 80 tonnes per day since the 1980s, and currently includes a partially completed Guadalupe spiral ramp and 14 mining levels, with underground workings extending to approximately 220 meters below surface, accessible via the shaft and the Guadalupe ramp. Southern Silver also completed LiDAR surveys of underground drifts this year and continues to conduct geotechnical investigations and hydrogeological characterization of the Puro Corazon area.

Southern Silver initiated Phase 1 resource definition drilling at Puro Corazon in June, with the current program planned at up to 14,000 meters to upgrade the mineral resource category of this target area. As of August 31, the company has completed 6 core holes totaling 2,194 meters, with assay results still pending. All 23 drill holes from the previously completed 2025–2026 drilling program have been finished, with mineralization extending approximately 400 meters laterally along the skarn alteration zone around the main intrusion and to a depth of approximately 500 meters below surface.

The company's next steps include continuing the Phase 1 resource definition drilling program, incorporating recent drilling and underground sampling data into the overall Cerro Las Minitas geological model, followed by an updated mineral resource estimate for the project, then an updated preliminary economic assessment in accordance with NI 43-101, while continuing baseline data collection and permit preparation reviews.