The discovery of a widespread oxide gold system at the Oro deposit in New Mexico creates a second prospect for Southern Silver Exploration.
Recent drill results from Southern Silver Exploration Corp.’s (SSV:TSX.V; SSVFF:OTCQB; SEG1:FSE) Oro deposit in New Mexico identified a widespread gold system at the Stockpond target. The company announced on Nov. 23, 2016, that drilling “intersected widespread alteration and a thick zone of strongly anomalous gold mineralization in a sediment-hosted oxide-gold system located on the edge of the drill pattern, which remains open laterally to the east, north and south under thin gravel cover.”
Nine reverse circulation holes were drilled during the exploration program, totaling 1,223 meters. Hole SP16-004A contained the highlight of a “9.1 meter interval averaging 0.75g/t Au, contained within a 41.2 meter interval averaging 0.42g/t Au.” The company noted that, “the results from this initial program were successful in identifying the edge of a potentially large auriferous mineralizing system and in particular, showing open vectors to the east of the Phase I drilling which will now be the focus for further surface exploration, geophysical studies and an eight to ten hole, wide-spaced drill program covering an approximate five square kilometer area.”
Southern Silver President Lawrence Page, Q.C. noted that “Oro remains a most attractive porphyry copper/gold target with distal gold values. We have expanded our land base with the addition of located mineral claims and now intend to vigorously continue exploration for a significant gold resource in the northeastern portion of the property where values of gold discovered to date, are similar to those being mined in other major oxide gold deposits throughout the western United States.”
Southern Silver has been able to consolidate the Oro land package; it is made up of patented land, state leases and Bureau of Land Management located mineral claims. There is …read more