Southern Silver Exploration Corp. announced today the start of diamond drilling on the company’s wholly-owned La Sorpresa copper project in Jalisco State , Mexico . This initial 15-hole, 2500 metre program will test at least eight widespread targets over a 700 metre x 1200 metre area covering numerous, variably mineralized, copper-bearing quartz-tourmaline breccias. Copper mineralization in the breccias comprises copper oxides and chalcopyrite with lesser bornite that locally grades up to 5.30% Cu over 2 metres from underground channel samples and up to 0.44% Cu over 56.0 metres from surface channel samples.
Up to six holes will test a series of targets down-dip and on-strike of the main La Sorpresa Breccia, where sampling of the historic underground workings returned 2.1% Cu and 9g/t Ag over 32 metres (see News Release dated November 29 th , 2005). A further four drill holes will test several targets in the area of the West and South Breccias where sub-vertical, north-south-trending feeder structures intersect a series of more shallowly south-dipping tourmaline-quartz breccias. Three of the remaining holes will test deeper (>150m) geophysical targets identified in a recently completed IP survey and at least two drill holes will test possible on-strike extensions of north-south feeder structures in more poorly exposed areas.
Historically, the La Sorpresa project has seen only limited shallow drill testing and has been explored by shallow adits and cross-cuts in an area 180 metres x 70 metres wide. Southern Silver president, Lawrence Page said, “La Sorpresa represents an exceptional exploration opportunity as the high-grade copper breccias may be sourced from a deeper porphyry system as found in certain Arizona porphyry copper districts.”
Southern Silver may acquire 65% interest in the property by issuing a total of 500,000 shares vested as to 50,000 shares upon signing the option agreement, 50,000 shares in each of the first four years of the option term and 250,000 shares in year five as well as expending US$3 million on exploration expenditures in staged increments, over five years. Share issuances are subject to regulatory approval.
The current diamond drill program is expected to take up to 8 weeks to complete. Analyses will be conducted by BSI Inspectorate, an ISO 9000 certified facility based in Reno Nevada.
Southern Silver can acquire a 100% interest in the property by making staged payments totaling US$1,000,0000 over four years.
On behalf of the Board of Directors,
“Lawrence Page”
Lawrence Page QC, President, Director
Southern Silver Exploration Corp.
For further information visit www.southernsilverexploration.com or please contact Jay Oness at 1-888-456-1112 / 604-684-9384 or by email at corpdev@mnxltd.com