Summa Silver – Exploration Update From The Mogollon and Huges Silver-Gold Projects
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 first 5 holes drilled at Mogollon, initially focused on just the 500 meter by 300 meter area, out of the larger 34 kms of mineralized. Drill hole # MOG22-05 was a 270 meter step-out hole, that returned 31.0 m at 459 g/t silver equivalent* (3.88 g/t Au, 129 g/t Ag) including 0.5 m at 6,311 g/t silver equivalent (66.8 g/t Au, 638 g/t Ag) and 2.0 m at 1,223 g/t silver equivalent (9.32 g/t Au, 431 g/t Ag). The exploration team has a goal for 2022 is to put about 50 drill holes into this project with 20,000+ meters of drilling by Q3 and then put out a maiden resource in Q4 of this year.
Next we had Galen outline the current exploration work on the Hughes Project where the drills have returned to kick off a roughly 10,00 meter drill program, following up on the 12,000 meters of drilling done in 2021. There will be more drilling to continue testing the high-grade silver drill intercepts mostly from around the past producing Belmont Mine, and the Murray Vein area. A few drill holes were also previously 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 and then potentially move towards a maiden resource estimate at Hughes in later part of 2022.