Summa Silver (TSXV:SSVR) (OTCQB:SSVRF) (Frankfurt:48X) Provides Drilling Update for the Hughes Project
- Summa Silver has provided an exploration update for the Hughes Property
- Assays are pending from eight holes that encountered visible silver sulfide mineralization
- Drilling was concentrated on resource style spacing at the Murray and Belmont target areas
- With drilling now complete at the Hughes Property, the company is preparing to return to the Mogollon Project
- The company is well capitalized for further drilling with approximately $9 million in working capital to deploy
- Shares in Summa Silver (SSVR) are up xx% on the TSXV, trading at CA$xx per share
Summa Silver has announced an update from the Hughes Project, where assays are pending from eight holes that encountered visible silver sulfide mineralization.
The drilling was concentrated on resource style spacing at the Murray and Belmont target areas, and data from the drill program will be incorporated into an updated geological and structural model for the entire district, says the company.
At the Murray target, the company drilled seven holes that were designed to further investigate grade continuity where previous drilling defined significant zones of high-grade silver and gold mineralization, including 455 g/t silver equivalent over 6.1 metres.
Drilling at the Belmont target was designed to investigate the extent of the high-grade system that previously encountered 3,971 g/t silver equivalent over 2.8 metres.
“All holes drilled at Hughes so far have hit their target,” said Summa Silver CEO Galen McNamara, “and our technical team is rapidly advancing the exploration model for the entire project package.”
With drilling now complete at the Hughes Property, the company is preparing to return to the Mogollon Project where recent drilling intersected 448 g/t silver equivalent over 31 metres.
The company is well capitalized for further drilling with approximately $9 million in working capital to deploy.
Summa Silver Corp. is a Canadian junior mineral exploration company. The Company’s interests include the Hughes property in central Nevada and the Mogollon property in southwestern New Mexico.
Summa Silver (SSVR) is currently up 5.05% on the TSXV, trading at CA$0.52 per share as of 3:59 pm EST.
On the OTCQB, SSVRF is up 3.61% to US$0.3984 per share. And in European markets, Summa Silver (Frankfurt:48X) is down 5.42% on the day to EUR 0.38 per share.
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