{"id":26699,"date":"2023-05-02T09:16:51","date_gmt":"2023-05-02T13:16:51","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=26699"},"modified":"2024-03-20T19:21:59","modified_gmt":"2024-03-20T23:21:59","slug":"summa-silver-to-test-5-drill-targets-east-of-prolific-mining-district","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/summa-silver-to-test-5-drill-targets-east-of-prolific-mining-district\/","title":{"rendered":"Summa Silver To Test 5 Drill Targets East of Prolific Mining District"},"content":{"rendered":"<p>Summa Silver Corp (TSXV:SSVR) (OTCQX: SSVRF) (Frankfurt:48X) announced today that it has commenced an exploration drill program at the high-grade silver-gold Hughes Project near Tonopah, Nevada (the \u201cHughes Project\u201d).<\/p>\n<p><strong>Bottom Line: <\/strong>Near a prolific historical mining district, Summa is drilling holes that will significantly expand the companies understanding of the resource underlying their land package. The company will test stepouts of previously discovered gold and silver targets, surface level geophysical anomolies and potential deeper vein systems.<\/p>\n<p>All three target types have the potential to significantly increase the resource potential of the high-grade silve-gold Hughes project.<\/p>\n<h2 class=\"wp-block-heading\">Key Highlights<\/h2>\n<ul>\n<li><strong>High-Potential Targets:<\/strong> Five targets will be tested and a minimum of seven holes are planned. Targets were selected based on thorough interpretations of geophysical, geochemical, and geological mapping data acquired by the Company<\/li>\n<\/ul>\n<ul>\n<li><strong>Additional Drilling at the Ruby Discovery:<\/strong>\u00a0Representing the extension of the Tonopah District and located 1.3 km east of the Belmont Mine, this discovery will be tested with aggressive step-outs.<\/li>\n<\/ul>\n<ul>\n<li><strong>Mineralization already intersected at Ruby:\u00a0<\/strong>The three holes drilled by the Company at Ruby in 2020 and 2021 all intersected zones of quartz veining, alteration and intermittent mineralization with features strikingly similar to the ore bodies in the heart of Tonopah district (see previously released core photos from SUM21-49\u00a0<a href=\"https:\/\/summasilver.com\/hughes-project\/core-photos\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>\u00a0and the Company\u2019s press releases dated\u00a0<a href=\"https:\/\/summasilver.com\/summa-silver-drills-6220-g-t-silver-equivalent-over-0-7-m-at-the-hughes-property-nevada\/\" target=\"_blank\" rel=\"noreferrer noopener\">December 17, 2020<\/a>\u00a0and\u00a0<a href=\"https:\/\/summasilver.com\/summa-silvers-first-drill-results-from-mogollon\/\" target=\"_blank\" rel=\"noreferrer noopener\">March 3, 2022<\/a>).<\/li>\n<\/ul>\n<ul>\n<li><strong>New Targets include Emerald, Diamond, Sapphire, and Topaz:<\/strong>\u00a0These four new target areas, which were previously unrecognized, represent significant discovery opportunities just outside of the historic Tonopah mining district.<\/li>\n<\/ul>\n<ul>\n<li><strong>Fully Funded:\u00a0<\/strong>The Company remains fully funded with approximately $10.5 million in working capital.<\/li>\n<\/ul>\n<div class=\"su-quote su-quote-style-default su-quote-has-cite\"><div class=\"su-quote-inner su-u-clearfix su-u-trim\">The targets we will be drilling at the Hughes Project this season were developed from a systematic, multi-layered approach which included detailed interpretations of structural geology, geophysics and geochemistry. In our opinion, its very rare that compelling undrilled targets can still exist within sight of a prolific historically producing mining district like Tonopah. The five targets we will be drilling at the Hughes Project this spring and summer represent opportunities for significant new discoveries that the team has been very much looking forward to testing for some time.<span class=\"su-quote-cite\">Galen McNamara, CEO <\/span><\/div><\/div>\n<h2 class=\"wp-block-heading\">Hughes Exploration Drill Program<\/h2>\n<p>The focus for this phase of exploration drilling is on testing previously undrilled epithermal vein targets identified by Summa over the course of multiple ground-based exploration programs (Figure 1).<\/p>\n<p>The targets are all east of the historic Tonopah mining district and will be tested using both reverse circulation and core drilling methods in a minimum of seven holes.<\/p>\n<h4>Figure 1: Project map showing location of new drill targets with arsenic-in-soil and IP anomalies.<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-26702\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Hughes-Project-Chart.png\" alt=\"\" width=\"1000\" height=\"563\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Hughes-Project-Chart.png 1000w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Hughes-Project-Chart-300x169.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Hughes-Project-Chart-768x432.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Hughes-Project-Chart-696x392.png 696w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>Four main target areas will be tested over the course of the program, and include:<\/p>\n<ul>\n<li><strong>Ruby:<\/strong>\u00a0The Ruby discovery has been drilled by the Company in three holes completed in 2020 and 2021 (see Figures 1 and 2).<\/li>\n<\/ul>\n<p>The area is characterized by a broad zone of pyrite-rich, phyllic alteration transitioning to strong argillic + silica alteration peripheral to a wide zone of strong epithermal-related gold and silver mineralization hosted in quartz-rich breccias and veins.<\/p>\n<p>All three holes intersected zones of local mineralization highlighted by hole SUM20-10 which intersected 469 g\/t silver equivalent (258 g\/t Ag and 2.63 g\/t Au) over 2m (<a href=\"https:\/\/summasilver.com\/summa-silver-drills-6220-g-t-silver-equivalent-over-0-7-m-at-the-hughes-property-nevada\/\" target=\"_blank\" rel=\"noreferrer noopener\">see the Company\u2019s press release dated December 17, 2020<\/a>).<\/p>\n<p>Subsequent 3D IP geophysical survey work identified coincident chargeability and resistivity anomalies immediately along strike to the east of the drilled area. The coincident anomalies are interpreted to represent broad zones of sulfide-rich, quartz-dominant hydrothermal-related alteration.<\/p>\n<p>Modelling suggests an east-west trend to the structural zone. Drilling will investigate the eastern strike-extent of Ruby mineralization and the exploration target is an extension of the Tonopah district.<\/p>\n<h4>Figure 2: Ruby discovery underground schematic showing drill holes and IP anomalies.<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-26703\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Ruby-Discovery-Area.png\" alt=\"\" width=\"1000\" height=\"563\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Ruby-Discovery-Area.png 1000w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Ruby-Discovery-Area-300x169.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Ruby-Discovery-Area-768x432.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Ruby-Discovery-Area-696x392.png 696w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/h4>\n<ul>\n<li><strong>Emerald:<\/strong>\u00a0The Emerald target is centered on an outcropping zone of polymictic, carbonate-rich hydrothermal breccia (see Figure 3).<\/li>\n<\/ul>\n<p>The zone is spatially associated with a broad arsenic-in-soil geochemical anomaly and proximal to a property-scale, north-trending normal fault.<\/p>\n<p>The breccia occurrence is interpreted to represent the paleosurface and\/or upper-level expression of a low-sulfidation epithermal vein system. Drilling will target the breccia at depth to test the gold and silver potential of the system below the paleosurface.<\/p>\n<h4>Figure 3: Emerald target calcite-cemented polymictic breccia<\/h4>\n<figure id=\"attachment_26704\" aria-describedby=\"caption-attachment-26704\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-26704 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Emerald-Twrget-Breccia.png\" alt=\"\" width=\"1000\" height=\"887\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Emerald-Twrget-Breccia.png 1000w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Emerald-Twrget-Breccia-300x266.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Emerald-Twrget-Breccia-768x681.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/Emerald-Twrget-Breccia-696x617.png 696w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-26704\" class=\"wp-caption-text\">These textures and alteration minerals are interpreted to represent the upper expression of a prospective epithermal vein system at depth (~100 to 300m deep).<\/figcaption><\/figure>\n<ul>\n<li><strong>Topaz, Diamond and Sapphire:<\/strong>\u00a0These targets comprise a series of coincident soil and geophysical anomalies with local zones of outcropping chalcedonic quartz-cemented breccias.<\/li>\n<\/ul>\n<p>Zones of near-surface and coincident high-chargeability and high-resistivity anomalies located proximal to magnetic lineaments are interpreted to represent epithermal vein-hosted targets.\u00a0 Reconnaissance-style RC holes will test three targets over a 2 kilometer east-west trend.<\/p>\n<p>At Ruby, two holes are planned to be drilled with RC (reverse circulation) pre-collars followed by core tails through the target zones.<\/p>\n<p>At the other targets, four holes are planned to be drilled via RC.<\/p>\n<p>A pXRF (portable Xray fluorescence) instrument will provide close to real-time geochemical data focused on key pathfinder elements (e.g., arsenic, antimony, lead, zinc and copper).<\/p>\n<p>Based on these early results, additional holes may be drilled therafter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US silver &#038; gold explorer Summa Silver announced an ambitious drill program has started at the Hughes Project in Nevada<\/p>\n","protected":false},"author":25,"featured_media":26710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56,2429],"tags":[848,2290,2291,2289],"class_list":{"0":"post-26699","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-gold-silver","9":"tag-silver","10":"tag-ssvr","11":"tag-ssvrf","12":"tag-summa-silver"},"acf":[],"yoast_head":"<!-- This site is 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