Southern Silver Exploration Company (TSXV: SSV) Assays from underground channel sampling at the Purro Corazon mine on the Cerro Las Minitas property, Durango, Mexico, have been reported to have returned multiple intercepts of strongly anomalous polymetallic mineralization.
Light assays include: 3.0 m averaging 205 g/t Ag, 0.1% Cu, 2.8% Pb and 1.9% Zn (320 g/t AgEq); 3.2 meters averaging 357 g/t Ag, 0.5% Cu, 3.2% Pb, and 0.7% Zn (479 g/t AgEq); 2.8 meters averaging 305 g/t Ag, 1.2% copper, 9.8% lead and 6.7% zinc (757 g/t AgEq) and 1.0 meters averaging 631 g/t Ag, 0.1% copper, 12.7% lead and 8.1% zinc (1097 g/t AgEq).
The channel sampling is part of a larger program of underground mapping, sampling and geotechnical analyzes designed to better understand the style and distribution of mineralization at the Puro Corazon target and to develop continuity between near-surface mineralization within the underground workings and mineralization identified in recent drilling at the Puro Corazon target.
Samples were taken through fourteen sub-levels of underground workings and a partially completed spiral dip known as the Rampa Guadalupe. Sampling target areas containing skarn alterations and mineralization adjacent to the central penetration and along mineralized structures outside the main contact.
A total of 230 channels comprising 1380 individual samples were collected. Sample intervals in each channel range from 0.15 m to 2.0 m, with most in the 0.5 m to 1.0 m range and collected individually for shipment to the laboratory. Channel samples are spaced every 3.0 m and oriented perpendicular to the direction of the mineralized zone. Geological criteria were used to select sample lengths and to ensure that mineralized skarn was sampled separately from the footwall and hanging wall horizons. Other considerations include the mineralized texture (massive vs. banded vs. disseminated sulphide) and that where possible, mineralization in other specific rock types (limestone, marble, aplite, monzonite) is sampled separately.
The Purro Corazon mine has been operated intermittently (almost continuously) on a small scale (ca. 50-80 tons per day) since the 1980s and currently comprises a partially completed spiral slope (Rampa Guadalupe) and 14 mining levels extending 220 meters below the surface. The mine is accessed by shaft and via the Rampa Guadalupe. This current disclosure provides details of inspection results down to level 4 (of 14 sublevels). Examinations of deeper levels will be reported in a later issue.
Additional work undertaken by Southern includes an underground lidar survey of the works (completed earlier this year), geotechnical surveys of the works and additional hydrological characterization of the area surrounding the Puro Corazon target (in progress).
With final test results now received, the company will incorporate all results from the recently completed Puro Corazon drilling program into the larger Cerro Las Minitas project, which is expected to significantly enhance the economics of the project and mining plan. Over the coming months, the Company intends to continue its Phase 1 drilling program up to 12,500 meters to upgrade resource classes at the Puro Corazon target. Drilling began in mid-June and is expected to continue over the next six months; Updated mineral resource estimates for the Cerro Las Minitas project; Followed by an update to the Preliminary Economic Evaluation (PEA) of the project in accordance with the provisions of NI 43-101 standards and continued progress on baseline data collection and permit readiness review.
The company reports that work on the Cerro Las Minitas project continues to leverage several upside opportunities identified following the July 2024 Project Evaluation Agreement, with de-risking and project development underway with the commencement of core data collection, hydrology, surveys, and geotechnical, archaeological and territorial studies.
As currently designed, the Cerro Las Minitas project features a large-scale underground mining operation with strong project economics and high gross revenues in a well-located, mining-friendly and relatively safe area in southeastern Durango, Mexico.
As previously announced on June 15, 2026, the Company closed the first tranche of its non-brokered private placement in LIFE. No further tranches are planned and financing has now been completed. The Private Placement is subject to final approval by the TSX Venture Exchange.
Southern Silver is particularly focused on the 100% owned Cerro Las Minitas silver, lead and zinc project located in the heart of Vajja de Plata, Mexico, which hosts several world-class mineral deposits such as Peñasquito, Los Gatos, San Martin, Naica and Petarella.
The Company has assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas Project into a premium, high-grade lead, zinc and silver mine. It is located in the same state as Cerro Las Minitas, the Nazas’ newly acquired gold and silver estate.
Its real estate portfolio also includes the Oro Porphyry copper-gold project and the Hermanas gold-silver vein project where applications are currently being submitted for a drilling program, both located in southern New Mexico, USA.
