SOUTHERN SILVER EXPLORATION CORP. Hole OR22-012 tested a strong ZTEM geophysical anomaly in an area believed to be relatively high in the metal system and where Cretaceous-age carbonate host rocks were expected to lie at relatively shallow depths beneath Laramide-age andesite volcanic rocks. The hole intersected veins with strongly anomalous gold (12.4 g/t over 0.8 metres at 495.7 metres depth) in a banded anhydrite+pyrite+calcite breccia vein and, deeper in the hole, intersected anomalous silver and lead (908 g/t Ag and 10.4% Pb over 0.2 metres at 594.6 metres depth) in a barite+galena vein, consistent with expected metal zoning. Favourable carbonate host rocks were intersected with abundant sulfide minerals below a 6-metre-thick massive anhydrite vein at roughly 590-metres depth. The 427.2-metres interval from 578.6 to 1,005.8 metres averages 0.15% CuEq (0.08% Cu, 0.01% Mo, and 1.4g/t Ag), with variable mineralization continuing to the end of the hole at 1,006 metres depth. The strongest mineralization is 9.1 metres of 0.59% Cu, 0.01% Mo, 0.3 g/t Au, and 2.3g/t Ag (0.92% CuEq) from 834.5 to 843.7 metres in a carbonate replacement zone with abundant magnetite, specular hematite, and epidote with minor pyrite, calcite, and anhydrite. Dikes ranging from unaltered to strongly altered are common throughout the hole.
Hole OR22-012 only tested a portion of the strong ZTEM anomaly in the area leaving a significant strike-length and width of the anomaly remaining for further drill testing. An additional 56 Federal lode claims were staked to cover the possible extensions of the copper-rich skarn/CRD mineralization intersected in OR22-012. Mapping of the new claims has been completed, with samples submitted for analyses.
Hole OR22-013 is an offset to the first two holes of the 2022 program, which partially tested the porphyry target identified through earlier geological compilation, clay-alteration studies and ZTEM airborne geophysics. These earlier holes intersected classic geochemical and alteration zoning demonstrating near-surface, low-temperature prophyllic alteration transitioning at depth into a thick zone of strong pyritic/phyllic-alteration, and at further depth transitioning into high-temperature potassic alteration with strong copper enrichment. Hole OR22-011 intersected an unexposed hydrothermal breccia pipe with copper oxides directly beneath gravel cover.
Hole OR22-013 also intersected the breccia pipe with copper oxides beneath surface gravel, intersecting 19.7 metres (12.0 - 32.6 metres) of 0.12% CuEq (0.08% Cu, 0.1% Zn, and 1.7 g/t Ag) before entering much less altered andesite volcanics. Below 485 metres depth, alteration increased to 770 metres depth, below which altered and unaltered dikes and variably altered blocks of sedimentary rocks were encountered, ending in a medium-grained intrusion with patches of disseminated chalcopyrite.
About Oro
The Oro property consists of patented land, New Mexico State leases, and Federal/BLM mineral claims acquired by purchase, staking and lease over the past several years. Several historic mines produced copper, lead, zinc, silver, and gold from discrete portions of the amalgamated property. The property covers a large, well-zoned Laramide-age mineral system consisting of a ring of Carbonate Replacement Deposits (CRDs) around a core of intense sericite-pyrite alteration, which clay mineralogy indicates is the lithocap overlying an unexposed porphyry centre. Targeting for copper mineralization is based upon 3D modelling of data generated by geologic mapping, historic drill holes, geochemical zoning studies, alteration clay zoning studies, and geophysical surveys.
Surrounding the CRD zone are distal-disseminated, sediment-hosted, gold showings, such as at the Stockpond target, where the Company has conducted limited exploratory drilling. The drilling encountered strongly oxidized, disseminated gold mineralization beneath shallow gravel cover that was limited by a post-mineral fault which buried potential extensions beneath a thick cover of gravel and which remains open for further exploration.
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