Summa Silver – High-Grade Silver Results From the Hughes Project In Tonopah, Nevada
Galen McNamara, CEO of Summa Silver (TSX.V:SSVR – OTCQB:SSVRF) joins us to discuss the recent exploration results at the Hughes Project, on the Walker Lane Trend in Nevada. We start with a review of the Sept 22nd news highlighting the high-grade silver drill intercepts returned from the Rescue Veins target a the past producing Belmont Mine, and the Murray vein. There are still 7 assays pending from both targets, as well as 2 more drill holes in process at the Ruby target. The Company’s goal is to move towards a maiden resource estimate in H2 2022. We wrap up with an overview of the planned drill program at the secondary gold-silver Mogollon project in New Mexico.
If you have any follow up questions for Galen regarding Summa Silver please email us at either Fleck@kereport.com or Shad@kereport.com.
Hi David – Yes, unfortunately that is just the kind of market we are in lately, where good news gets sold just like mediocre news, but the recent high-grade silver hits from Summa were impressive.
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(SSVR) (SSVRF) Summa Silver Intersects 1,699 g/t Silver Equiv. over 4.3 m Including 9,989 g/t Silver Equiv. over 0.6 m at the Hughes Property in Tonopah, Nevada
Sept 22, 2021
FWIW: Emerita on move up for no apparent reason after about a 35% decline for no apparent reason. My conclusion is that I prefer up at least 99% of the time and 1% of the time I have not found a reason to like down.
Premature…it got beat back in line. What was it thinking…
We are working on having Emerita on the show soon, so stayed tuned.
There are rumblings in the dark holes of the universe that Emerita is about to possibly have a News Release maybe.
Yeah, I saw Doc Jones mention that over at ceo.ca. Hope it’s a good release for you guys.
Thanks for getting Galen on –
As a stockholder I’m pleased to see these drill results. I’ve said before on this site that I’m particularly interested in their Mogollon Project since it is in NM where I live and love to roam. The project is in the Gila Mountains and as I’ve been exploring the mining history of that part of the state I have discovered that lots of mining has occurred there. And I mean lots of mining. I annotated a map I found at https://westernmininghistory.com that shows some of the historic mines in the area – see it here: http://pages.swcp.com/~mwfolsom/Gila_Mines.png . You can get another view of the area by going to Google Maps and searching for Silver City, NM. Yet another city built because of the silver mines that used to exist there. Change to the satellite view and shrink it a bit. East of Silver City on NM 152 is Freeport-McMoRan’s giant Chino copper mine. Further east is another prospective copper mine, the Copper Flats Project. There are many other historic mines througout the Gila. Mogollon is NW of Silver City deep in the Gila wilderness. Lots of copper, gold and silver have been pulled from that area over the years and I have no doubt more is there to find.
The challenge Summa faces is that this will be a difficult place to work. The road to Mogollon, NM 159, off of US 180, is challenging to say the least. Parts of it are 1 lane wide and the drop is massive so getting equipment there won’t be trivial. For an idea of the terrain you can look at the start of a Mogollon album on my Flickr site: https://www.flickr.com/photos/mwfolsom/albums/72157719738051878 – the first 3 frames are long distance shots of the Little Fanny Mine, perhaps the biggest mine in the area. When I visited Mogollon I saw the history of the place but in reality the mine shut down over 80 years ago. Now it is a very small community filled with people who live there because it is remote, beautiful, and quite. Frankly they like it that way. Mogollon is in Catron County which has an estimated population of less than 4,000 people and is spread over 6,929 square miles. Certainly that county and the state needs the economic development the mine could bring what I don’t know is how Summa will be greeted.
By-they-by, if anybody gets interested in the Copper Flats Project I highly recommend you spend some quality time with the financial statements of the projects owner, Themac Resources – I decided not to spend 0.05 US on the stock. A better bet would be the Power Ball.
Hi Mike, this is a great comment. We actually think as far as “difficulty to work”, Mogollon is pretty good. Certainly access is much better than most projects I’ve worked on in much more remote places (e.g. projects with fly-in or winter road access only). Anywhere that you can drive right to ore zones is already ahead. We’re also very much looking forward to continuing to engage with local stakeholders. As an example of how exploration can have an immediate positive impact, often companies like ours will use the services of local providers for things like drill pad construction, etc. Of course, we are no exception. Anyways,please do let us know when you’re in the area again. Happy to show you the project and drilling.
Best,
Galen
Galen:
Thanks so much for your response. As Summa’s CEO it speaks well of the company that you took the time to respond to my post. Re: the road to Mogollon, as an urbanite I’m still a bit surprised by it. Please note it looks like the State’s Highway Department had made a few improvements recently and no doubt if the mine starts up again more work should be done. As a map junkie I already looked where NM 159 headed as it left Mogollon in the other direction going NE. One possible path leads past Chloride, NM and connects to I25. Chloride is yet another old silver mining town on the other side of the Gila. I’ve lived in NM for over 30 years and have been a metals and mine investor for 20 of them and I’m a bit surprised what potential exists so close to my front door.
My thanks for taking a risk on Mogollon. One day people may ask what took the mining companies so long to take a good look at the Gila.
Hi Thanks, for great discussion here, if anyone has NPV calculations for either or both properties it be great,
Thanks on Summa. I missed the press release and obviously nothing happened when they released a “good one”. I still own both Summa and Blackrock.