Southern Silver Exploration Corp. reported today that Freeport McMoRan Exploration Corp. (FMEC) has advised that permitting for the Dragoon Project is complete and that drilling is scheduled to begin the week of May 17th.
FMEC has indicated its plan to bore a single drill hole to test a down-thrown fault block that may contain both supergene-enriched and hypogene copper mineralization related to a Laramide-age porphyry system. FMEC anticipates drill testing to depths of up to 900 metres but maintains the capacity to extend drilling deeper if required.
The Dragoon Property
The Dragoon property is a contiguous block of 12.8 sq. km that comprises 68 unpatented mining claims and four State leases located in southeast Arizona. The property contains areas of exposed Cu-Mo mineralization, Laramide-age porphyry and “leached capping” in the eastern part of the property and a larger down-dropped block of porphyry related rocks in the gravel-covered western portion of the property. The presence of the “leached cap” rocks is significant as they may overlie supergene-enriched copper mineralization at depth.
FMEC has the right to earn a 70% interest in the property, located in southern Arizona, by spending $3 million in exploration and development expenses on the property by December 31, 2012.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is focused on the exploration and development of quality assets, in significant mineralized trends, close to infrastructure. Its current projects include the copper/gold/silver Minas de Ameca project, the gold/silver San Juan project and the silver/zinc/lead Pinabete project in Mexico, the Dragoon Porphyry project in Arizona and the Oro project in New Mexico.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical data for the Dragoon Project.
On behalf of the Board of Directors
Lawrence Page, President, Southern Silver Exploration Corp.
For further information, please visit the company’s website at southernsilverexploration.com or contact Jeff Stuart or Liana Shahinian at 1.888.456.1112 or by email at email@example.com or firstname.lastname@example.org.
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