{"id":28021,"date":"2023-12-07T11:11:26","date_gmt":"2023-12-07T16:11:26","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=28021"},"modified":"2024-03-21T16:58:31","modified_gmt":"2024-03-21T20:58:31","slug":"summa-silver-announces-high-grade-step-out-discovery-in-nevada","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/","title":{"rendered":"Summa Silver Announces High-Grade Step Out Discovery in Nevada"},"content":{"rendered":"<p><strong>Summa Silver Corp. (TSXV:SSVR) (OTCQX:SSVRF) (Frankfurt:48X)<\/strong> is pleased to announce the discovery of a new high-grade vein zone in final assay results from the recently completed drill program at the Hughes Project in Nevada.<\/p>\n<h4><strong>Figure 2: Hughes Project Highlighting New Drill Result (SUM23-60)<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-28041 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th.jpg\" alt=\"\" width=\"1195\" height=\"665\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th.jpg 1195w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th-300x167.jpg 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th-1024x570.jpg 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th-768x427.jpg 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-1-dec-7th-696x387.jpg 696w\" sizes=\"auto, (max-width: 1195px) 100vw, 1195px\" \/><\/p>\n<p>In addition, the Company has commenced its drill program at the Mogollon Project in New Mexico (the &#8220;Mogollon Project&#8221; or &#8220;Mogollon&#8221;). Approximately 2,000 meters of drilling is planned across three new targets along the Queen Vein at the Mogollon Project.<\/p>\n<h3>Hughes Project Discovery Highlights<\/h3>\n<ul>\n<li><strong>392 g\/t AgEq* over 3.0 m<\/strong> (3.04 g\/t Au, 147 g\/t Ag) in a <strong>newly discovered vein-zone<\/strong> approximately <strong>650 m east of the Ruby zones<\/strong> in hole SUM23-60 (see attached figures).<\/li>\n<li><strong>Eastern Extension of the Tonopah Mining District:<\/strong> Three new discoveries were made in 2023 between 1.5 km and 4.7 km along strike from the historic Tonopah mining district.<\/li>\n<li><strong>New Zones Open for Expansion:<\/strong> All new zones are open in all directions and require step-out drilling over a total trend length of 6.5 km.<\/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\">At Hughes, we have made three new vein discoveries in only six exploration holes in 2023. High-grade silver and gold zones which are open in all directions have now been intersected up to 4.7 km east along strike from the Tonopah mining district, one of the most prolific historic silver camps in the United States. With this in mind, we will approach additional discovery aggressively and with high conviction for future success. At Mogollon, our approach to discovery for this program will be marked by a series of aggressive yet precisely planned drill holes guided by our ever-increasing understanding of high-grade shoots in the Queen vein. We look forward to sharing results as they become available.<span class=\"su-quote-cite\">Galen McNamara, CEO, Summa Silver Corp.<\/span><\/div><\/div>\n<h3><b>Mogollon Project Drill Program Highlights<\/b><\/h3>\n<ul class=\"caas-list caas-list-bullet\">\n<li><b>High Potential Targets:\u00a0<\/b>Drill holes have been designed to test targets immediately below and along strike from zones of shallow high-grade mineralization\u00a0<a class=\"link \" href=\"https:\/\/api.newsfilecorp.com\/redirect\/R7LLYIbjkL\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:(see attached figures);elm:context_link;itc:0\" data-rapid_p=\"16\" data-v9y=\"1\">(see attached figures)<\/a>.<\/li>\n<li><b>Size and Scale on the Queen Vein:\u00a0<\/b>All holes will represent significant step outs along a strike length of nearly 2 km on the Queen vein.<\/li>\n<li><b>Drilling Highlights from the Queen Vein<\/b>\n<ul class=\"caas-list caas-list-bullet\">\n<li><b>MOG22-05:\u00a0<\/b>448 g\/t AgEq* over 31 m (129 g\/t Ag, 3.88 g\/t Au)<\/li>\n<li><b>MOG22-10:\u00a0<\/b>640 g\/t AgEq* over 9.9 m (306 g\/t Ag, 4.26 g\/t Au)<\/li>\n<li><b>MOG22-16:<\/b>\u00a0433 g\/t AgEq* over 23.2 m (134 g\/t Ag, 3.66 g\/t Au)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><em><span style=\"font-size: 8pt;\">* Silver equivalent is calculated using US$20\/oz Ag, US$1,800\/oz Au with metallurgical recoveries of Ag &#8211; 90%, Au &#8211; 95%; AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price \/ Ag price))<\/span><\/em>.<\/p>\n<h3><strong>Completed Hughes Drill Program<\/strong><\/h3>\n<p>The recently completed exploration drill program at Hughes Project consisted of reverse circulation (&#8220;RC&#8221;) and diamond drilling across five previously undrilled epithermal vein targets, all located east and northeast of the historic Tonopah mining district.<\/p>\n<p>The purpose of the reconnaissance-style drill program was to test for epithermal-related veins and vein-sets along trend to the east from the Ruby discovery and to define the eastern extension of the district. Three new vein discoveries have so far been made (Figures 1 and 2).<\/p>\n<h4><strong>Figure 1: Map showing the Hughes project drill targets with selected results<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28024\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023.png\" alt=\"\" width=\"1435\" height=\"808\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023.png 1435w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023-300x169.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023-1024x577.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023-768x432.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023-696x392.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-12023-Dec-7-2023-1392x784.png 1392w\" sizes=\"auto, (max-width: 1435px) 100vw, 1435px\" \/><\/p>\n<h4><b>Table 1: Assay Results<\/b><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28026\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-1-Dec-7-2023.png\" alt=\"\" width=\"982\" height=\"127\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-1-Dec-7-2023.png 982w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-1-Dec-7-2023-300x39.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-1-Dec-7-2023-768x99.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-1-Dec-7-2023-696x90.png 696w\" sizes=\"auto, (max-width: 982px) 100vw, 982px\" \/><\/p>\n<h4><b>Table 2: Collar Information<\/b><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28028\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-2-Dec-7-2023.png\" alt=\"\" width=\"988\" height=\"132\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-2-Dec-7-2023.png 988w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-2-Dec-7-2023-300x40.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-2-Dec-7-2023-768x103.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Table-2-Dec-7-2023-696x93.png 696w\" sizes=\"auto, (max-width: 988px) 100vw, 988px\" \/><\/p>\n<p>Recently completed SUM23-60 consisted of 335 m of RC pre-collar followed by 454 m of diamond core tail to a final depth of 790 m. From near the top of the hole, SUM23-60 intersected favorable Mizpah Formation andesite characterized by broad zones of pyrite-rich, phyllic alteration with local zones of pervasive clay\/silca alteration with meter-scale quartz-rich breccias and vein-sets.<\/p>\n<p>The hole bottomed in Tonopah Formation felsic rocks with local zones of clay alteration. The hole intersected over 500 m of strong and locally pervasive epithermal-related hydrothermal alteration with elevated pathfinder element geochemistry (e.g., arensic and antimony) highlighted by local intervals of silver and gold bearing veins in meter-scale quartz rich breccias and veins.<\/p>\n<p>An upper zone of 392 g\/t silver equivalent* (3.0 g\/t Au, 147 g\/t Ag) over 3.0 m from 323.2 m downhole demonstrates the mineralization potential of the greater Ruby target as this zone is approximately 300 m above the favourable Ruby Horizon, defined approximately 650 m to the west. Further drilling across the un-constrained Ruby area is warranted to define the structural controls and mineralization potential of the area.<\/p>\n<h3><strong>Commencement of Mogollon Drill Program<\/strong><\/h3>\n<p>The Mogollon drill program is designed to systematically test the high-grade mineralization potential of new targets located along the Queen vein (Figures 3 and 4). The winter drill program will now consist of significant step out holes along a ~2 km strike length, south of the Consolidated target. Three targets have been prioritised and are proximal to historic, small-scale underground mines where mineralization is open for expansion. Targets include South Queen, Eberle and Clifton. The drill is currently on hole MOG23-20, testing the South Queen target.<\/p>\n<h4><strong>Figure 3: Long section of the Queen vein with drill targets<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28033\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023.png\" alt=\"\" width=\"1431\" height=\"804\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023.png 1431w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023-300x169.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023-1024x575.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023-768x431.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023-696x391.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-3-Dec-7-2023-1392x782.png 1392w\" sizes=\"auto, (max-width: 1431px) 100vw, 1431px\" \/><\/p>\n<h4><strong>Figure 4: Map of Mogollon project targets for current drill program<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28037\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023.png\" alt=\"\" width=\"1434\" height=\"805\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023.png 1434w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023-300x168.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023-1024x575.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023-768x431.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023-696x391.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/12\/Summa-Silver-Figure-4-Dec-7-2023-1392x781.png 1392w\" sizes=\"auto, (max-width: 1434px) 100vw, 1434px\" \/><\/p>\n<h3><strong>Analytical and QA\/QC Procedures<\/strong><\/h3>\n<p>Drill core and RC chip samples were sent to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Paragon meets all requirements of the International Accreditation Service AC89 and demonstrates compliance with ISO\/IEC Standard 17025:2017 for analytical procedures. Samples were analyzed for gold via fire assay with an AA finish (&#8220;Au-AA30&#8221;) and samples that assayed over 8 ppm were re-run via fire assay with a gravimetric finish (&#8220;Au-GR30&#8221;). Silver, and trace elements were analyzed via inductively coupled plasma mass spectroscopy after four-acid digestion (&#8220;49MA-MS&#8221;). Samples that assayed over 100 ppm Ag were re-run via fire assay for Ag with a gravimetric finish (&#8220;Ag-GR30&#8221;). In addition to Paragon quality assurance \/ quality control (&#8220;QA\/QC&#8221;) protocols, Summa implements an internal QA\/QC program that includes the insertion of sample blanks, duplicates and certified reference materials at systematic and random points in the sample stream.<\/p>\n<h3><strong>Corporate Update<\/strong><\/h3>\n<p>The Company has approved the grant of 2,305,000 incentive stock options to certain officers, directors, employees and consultants of the Company. The options vest over a two-year period following the grant date, are exercisable at a price of $0.62, and expire on December 6, 2028.<\/p>\n<h4><strong>Qualified Person<\/strong><\/h4>\n<p>The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summa confirms high grade gold and silver potential more than 4km east of a major producing silver mine.<\/p>\n","protected":false},"author":30,"featured_media":26712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56,2429],"tags":[2282,2293,848,1677,2386],"class_list":{"0":"post-28021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-gold-silver","9":"tag-investing-in-silver","10":"tag-otcqx-ssvrf","11":"tag-silver","12":"tag-silver-mining","13":"tag-summa-silver-corp-tsxv-ssvr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Summa Silver Announces High-Grade Step Out Discovery in Nevada | Capital 10X<\/title>\n<meta name=\"description\" content=\"Summa confirms high grade gold and silver potential more than 4km east of a major producing silver mine.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Summa Silver Announces High-Grade Step Out Discovery in Nevada | Capital 10X\" \/>\n<meta property=\"og:description\" content=\"Summa confirms high grade gold and silver potential more than 4km east of a major producing silver mine.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/\" \/>\n<meta property=\"og:site_name\" content=\"Capital 10X\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Capital10x\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-07T16:11:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-21T20:58:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/mtl-company-summa-silver-02.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1069\" \/>\n\t<meta property=\"og:image:height\" content=\"713\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Duane Hope\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@capital10x\" \/>\n<meta name=\"twitter:site\" content=\"@capital10x\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Duane Hope\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/\"},\"author\":{\"name\":\"Duane Hope\",\"@id\":\"https:\/\/capital10x.com\/old\/#\/schema\/person\/664404c5932eabd163f483ac259b86f8\"},\"headline\":\"Summa Silver Announces High-Grade Step Out Discovery in Nevada\",\"datePublished\":\"2023-12-07T16:11:26+00:00\",\"dateModified\":\"2024-03-21T20:58:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/\"},\"wordCount\":1047,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/capital10x.com\/old\/#organization\"},\"image\":{\"@id\":\"https:\/\/capital10x.com\/old\/summa-silver-announces-high-grade-step-out-discovery-in-nevada\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2023\/05\/mtl-company-summa-silver-02.jpg\",\"keywords\":[\"investing in silver\",\"OTCQX: SSVRF\",\"Silver\",\"silver mining\",\"Summa Silver Corp. 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