Summa Silver – 2022 Exploration Strategy And Work Towards Maiden Resource Estimates At Both Mogollon And Hughes
Galen McNamara, CEO of Summa Silver (TSX.V:SSVR – OTCQB:SSVRF) joins us to discuss the exploration strategy at both their gold-silver Mogollon project in New Mexico and at the Hughes Project, on the Walker Lane Trend in Nevada.
We start with a review of the 34 kms of vein strike at Mogollon that is being explored, initially focused on just the 500 meter by 300 meter area drilled historically that shows an average grade of 500 g/t silver equivalent over an average of 12 meters. Out of their first 3 holes drilled last year they have release a photo from 1 hole showing there appears to be mineralization over 50 meters. Their goal for 2022 is to put about 50 drill holes into this project with 25,000 meters of drilling by Q3 and then put out a maiden resource in Q4 of this year.
Next we had Galen recap the prior exploration work on the Hughes Project where the 15,000 maiden drilling and additional 12,000 meters of drilling from 2021 have returned some high-grade silver drill intercepts mostly from around the past producing Belmont Mine, and the Murray Vein area. A few drill holes were also put in at the Ruby and Mizpah targets that show promise for more follow up exploration this year. The Company’s goal is to drill another 25 holes for approximately 10,000 meters and then move towards a maiden resource estimate at Hughes in late 2022. We wrap up with overview of the recent upsized $10 million financing, announced Jan 21st, that saw both Eric Sprot and First Majestic Silver participate.