Southern Silver Exploration Corp. (TSXV:SSV,FSE:SEG) is a publicly traded Canadian-based precious and base metal exploration company. The Company’s directors, professional staff and consultants are focused within North America on financial growth and have extensive technical expertise in the acquisition, exploration and responsible development of potential major mining ventures in Mexico, New Mexico and Arizona.
Cerro Las Minitas – Durango, Mexico
The Cerro Las Minitas Property, comprising 17 concessions and totaling 10,980 hectares, lies within heart of the Faja de Plata (Belt of Silver) of north central Mexico. The belt is one of the most significant silver producing regions in the world, with current reserves/resources and historic production in excess of three billion ounces of silver. Little modern exploration has been conducted at the Cerro Las Minitas project with significant exploration potential for Skarn and Carbonate Replacement (CRD) deposits, as well as for silver-rich veins over the largely gravel covered 25 km strike length of the property.
The geology of the property is similar to that of major Mexican Carbonate Replacement Deposits (CRD s) such as Santa Eulalia (45 Mt of 310 g/t Ag, 7.1% Zn and 8.2% Pb) and Skarn deposits such as San Martin (60 Mt of 118 g/t Ag, 0.9% Cu and 3.9% Zn) and represents an exciting new exploration opportunity in one of the world’s most prolific mineral districts.
Small scale mining has been active on the property since colonial times and has identified several types of silver, lead and zinc enriched massive sulphide bodies distributed along the margins of the central intrusion. Historical work focused almost entirely on areas of obvious surface mineralization leaving much of the contact zone untouched by modern exploration.
Southern Silver has initiated a multi-faceted exploration program to examine not only the immediate area of historical mining, but the entire 10,980 hectare project. Regional data compilation, airborne magnetic surveys and preliminary site visits have identified several possible targets for follow-up.
Ground IP geophysical surveys and detailed mapping and sampling of surface exposures and trenches in the area of the historic mining have been used refined targeting in preparation for drill testing.
A 3,000 metre Phase I drilling program began in early March of 2011. 17 holes were tested in 2011 which indicated +500 meter drill strike length, additional assays are pending. Drilling resumed at Cerro Las Minitas in January and Southern Silver drilled +10,000 metres over Q1 and Q2, 2012.
Dragoon Project – Arizona, United States
The Dragoon property is comprised of 68 claims and four state leases totaling over 12.8 square km in southeast Arizona, 100 km southwest of Tucson. The property contains areas of exposed copper/molybdenum mineralization. The Company believes that leached cap rocks (rocks that have undergone strong surface oxidation during weathering) at surface in the eastern portion of the property overlie copper mineralization at depth.
In August 2010, Freeport-McMoran Exploration Corp. (FMEC) completed a single drill core hole to a depth of 1,065m. FMEC was encouraged by the results, including up to 497 ppm Cu over 402 m with several 3-6 m intervals averaging from 0.1 to 0.5% Cu, and drilled a second hole in February 2011. Assays from this hole are pending, and additional work is planned. Exploration on the project has targeted a deep porphyry copper/ molybdenum system such as the world-class Resolution deposit nearby, operated by Rio Tinto. Read more…
Oro Polymetallic Project – New Mexico, United States
The Oro Project is comprised of eight mining claims and 89 BLM mineral claims totalling 6.9 square km. The land spans the majority of the historic Eureka Mining District in Grant County, New Mexico, and is approximately 40 km southwest of the Silver City porphyry copper district. The project sits on top of a large gold, silver, and base metal centre located in the Little Hatchet Mountains. The New Mexico Bureau of Mines estimates that between 1880 and 1961 the district produced 2.9M pounds of lead, 1.7M pounds of zinc, 0. 5M pounds of copper, 0.45 M ounces of silver, and 5,000 ounces of gold. Southern Silver has a 100% interest in this project.
Southern Silver drilled five holes on the property in 2009-2010, returning strong surface alteration and distinct geochemical zoning in rock and bio-geochemical samples throughout the property. Anomalous gold, base metals, and arsenic occur in association with intervals, often tens of metres thick, of silicification, pyritic sulphides, and variable skarn alteration and hornfels in two of the five holes. Four core holes were completed in 2011 for 1,697 metres, assays are pending. Southern Silver plan further core drilling and down hole IP geophysics in 2012. Read more…
Lawrence Page, B.A., LL.B., Q.C. – President and Director – Mr. Page obtained his law degree from the University of British Columbia and has practiced in the areas of natural resource law and corporate and securities law to the present date. Through his experience with natural resource companies and, in particular, precious metals development, Mr. Page has established unique relationships in the mining and financial community. Mr. Page has been counsel for public Companies which have discovered and developed producing mines in North America.
Maheseh Liyanage, CA – CFO - Mr. Liyanage joins the Company with over 15 years of experience in public practice and industry. He is a Chartered Accountant and has headed finance and audit teams nationally and internationally. Mr. Liyanage held a supervisory role leading audits in manufacturing, banking, and natural resource industries.
Arie Page, Corporate Secretary - Ms. Page obtained her Bachelor of Arts degree in 2000 and her Bachelor of Laws degree in 2004 from the University of British Columbia and was called to the British Columbia Bar in 2005. Ms. Page currently serves as a corporate secretary to several public resource companies in the minerals sector.
Scott B. Hean, BA, MBA, ICD.D – Director - Mr. Hean held senior management and executive positions with Bank of Montreal as Senior Vice President and Managing Director responsible for financing in the natural resources sectors in North America and with J.P. Morgan of New York, primarily financing junior oil and gas companies in the United States.
Terrence E. Eyton, F.C.A. – Director - Mr. Eyton is currently the managing partner of a medium sized accounting firm in Vancouver, British Columbia. His experience ranges from public and private audits to serving as a Board member on public companies. Mr. Eyton graduated first in his class at Lakehead University and second in Canada for his Chartered Accountant designation, and most recently, he completed his Directors Education Program sponsored by the Institute of Corporate Directors.
Dr.Roger Scammell, B.Sc, Pgeo – Director and VP of Exploration - Roger Scammell has more than 30 years experience in the mining and exploration industry. He was the Regional Manager of Exploration for Teck Corporation’s Mexican subsidiary, Minera Teck SA de CV from 1992 to 2002. Under his direction, Minera Teck discovered the 72 million tonne San Nicolas volcanogenic massive sulphide deposit in Mexico.
R. Dale Janowsky, QC – Director - Mr. Janowsky has 44 years experience in corporate reorganizations, mergers, acquisitions and joint ventures. Mr Janowsky was appointed General Counsel by the British Columbia Lottery Corporation (BCLC) and was a director in several mining resource companies. His former practice included real estate development and banking negotiations to fund projects. He is currently a director of a mortgage investment corporation and a director of Grand Portage Resources Ltd.
Nazlin Rahemtulla – Director - Ms. has over 14 years of experience in the financial industry. She acted as Investment Advisor for RBC Dominion Securities Inc. and served as Manager, International Services for RBC Global Private Banking. Ms. Rahemtulla has a Diploma in Business Administration from St. Godricks College in London, England and earned a Fellowship from the Institute of Canadian Bankers (“FICB”) through Simon Fraser University.
Jean-Pierre Colin – Director - Jean-Pierre Colin has been an investment banker since 1980 and provides corporate strategy consulting services to CEOs of mining companies. Mr. Colin was Director & Head of Corporate Finance at Octagon Capital Corporation , a senior investment banker with Desjardins Securities Inc., executive vice-president of Deacon Capital Corporation, and senior vice president of Richardson Greenshields of Canada Limited. Mr. Colin was also the founder of JP Colin Securities Inc., a securities dealer focused on corporate finance services to public mining companies. He is a Member of the Bar of the Province of Quebec and holds a Master of Business Administration from the University of Western Ontario, a Civil Law Degree from the University of Ottawa and a Certificate in Comparative Law from the University of Manitoba.
He is the former Faculty of Arts Co-Chair of the Waterloo Advisory Council of the University of Waterloo, former founder and President of Caratax Management Ltd., the manager of public flow-through share limited partnerships, and a former director of numerous other successful public mining companies in Canada including Wolfden Resources Inc., Pelangio Mines Inc., Virginia Gold Mines Inc. and NIM Management, the manager of over $730,000,000 of flow through share funds. Mr. Colin was appointed a director of Valterra on November 15, 2011. He also serves on the board of Premier Gold Mines Inc.