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Southern Silver hat ein zweites Projekt akquiriert. Hier die Pressemitteilung vom 08.06.2005: Southern Silver Acquires Arizona Porphyry Property Southern Silver Exploration Corp. reported today the company has negotiated an option to acquire a 100 percent interest in the Tombstone project, a multi-target, precious and base metal porphyry/skarn exploration prospect located eight kilometers southwest of the town of Tombstone, Arizona. The 200 hectare project is contiguous to the prolific Tombstone (Warren) mining district, but has seen limited exploration. Two holes were drilled on the project (in 1991 and 1995) the latter of which returned anomalous values in base and precious metals for its entire 305 metre length including a 3.1 metre section of 3.3 oz/t Ag, 6.0% Pb, 3.3ppm Bi and 380ppm Mo. Anecdotal reports indicate an additional three metres of mineralization was encountered but was unreported due to sampling problems. The intercept was within a 750m x 900m, Cu-Mo-Bi-Zn-Ag biogeochemical anomaly in the centre of the property. Drilling was stopped at 305 metres and the property dropped before the operator, BHP, could complete a planned re-entry of the hole. Southern Silver director, Dr. Tom Patton, said the presence of significant molybdenum mineralization, the size of the biogeochemical anomaly and the 305 metres of skarn alteration all are interpreted to be indicative of an underlying porphyry system. Patton said that mapping and sampling data indicates mineralization and alteration are zoned with silver-lead-zinc skarn and carbonate replacement targets in the north sector and porphyry copper- molybdenum-silver-gold and satellite copper-gold, as well as CRD targets in the central and southern portions of the property. The Tombstone/Warren mining district has historically produced bonanza silver ores totaling over 50MMT between the late 1800’s and early 1900’s from clusters of Ag-Pb-Mn rich carbonate replacement bodies in the basal Bisbee formation and underlying Paleozoic limestones. Similar styles of mineralization are identified on surface and in drill holes on the Tombstone prospect and are interpreted to represent a series a high-grade satellite deposits perhaps linked to a much larger and buried Laramide-age Cu-Mo-Ag ± Au porphyry/skarn system. Southern Silver can acquire a 100% interest in the property by paying US$690,000 over a five year period. The private vendors will retain a 2.0% NSR which the company can purchase by paying US$500,000 for each one-half percent acquired. Southern Silver president Lawrence Page said the new acquisition complements the company’s Pinabete CRD project in Chihuahua, Mexico where a 2,200 metre diamond drill program is underway. He further reported that the company is advancing due diligence review of an additional CRD project also located in Chihuahua, Mexico. |
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| aus der Diskussion: | Southern Silver Exploration Corp. |
| Autor (Datum des Eintrages): | CompanyInfo (09.06.05 09:58:01) |
| Beitrag: | 6 von 8,101 (ID:16844271) |
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