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southern silver exploration (SSV) Details

Southern Silver Exploration Corp., an exploration stage company, engages in the acquisition, exploration, and development of mineral resource properties in North America. It primarily explores for precious and base metals, including copper-molybdenum, gold, silver, zinc, and lead metals in Mexico and the United States. The company holds interests in the Cerro Las Minitas Property comprising 17 concessions and totaling 10,980 hectares located in Durango; and Dragoon Project a contiguous block of 12.8 square kilometers consisting of 68 patented mining claims and 4 state leases situated in southeast Arizona. It also owns interests in the Oro Project covering an area of 6.9 square kilometers comprising 8 patented mining claims and 89 BLM mineral claims located in Grant County, New Mexico; and Minas de Ameca Project encompasses a district scale 131 square kilometers situated in Jalisco State. The company was formerly known as Newcoast Silver Mines Ltd. and changed its name to Southern Silver Exploration Corp. in July 2004. Southern Silver Exploration Corp. is headquartered in Vancouver, Canada.

southern silver exploration (SSV) Top Compensated Officers

Chief Executive Officer, President and Direct...
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Compensation as of Fiscal Year 2012.

southern silver exploration (SSV) Key Developments

Southern Silver Exploration Corp. Announces New Drill Program at Cerro Las Minitas, Durango Mexico

Southern Silver Exploration Corp. reported that equipment has mobilized and a new phase of diamond drilling has started on the Cerro Las Minitas Project, Durango Mexico. The current program follows the second phase of drilling, completed in late January 2014, which was successful in identifying additional high-grade Ag-Pb-Zn mineralization at depth in the El Sol zone from hole 13CLM-071 and a potential new target along the southwestern margin of the central intrusive in the area of hole 13CLM-073. Current plans are for approximately 2,000 metres of core drilling in three or more holes designed to test at depth several previously identified copper anomalies on the project. These include an extension of drill hole CLM-073, which terminated in anomalous copper mineralization at 708 metres depth; and a down-dip test of copper mineralization at the North Skarn target (CLM-003: 16.6 metres averaging 56g/t Ag, 0.8% Cu, 0.5% Pb and 1.6% Zn). Additional holes are planned for a deep test of the central intrusive and its southern margin. Since execution of an earn-in agreement on the Cerro Las Minitas project in October 2012, Southern Silver's Mexican subsidiary, Minera Plata del Sur, S.A. de C.V., has completed 5,500 metres of diamond drilling, conducted soil and vegetation geochemistry surveys and a Reconnaissance IP (RIP) geophysical survey over the entire 15,125 hectare property. Additional lines of deep-penetrating IP geophysics and a Gravity survey were completed over the area of historic mining which has led to the development of several new targets on the property. FMEC has been providing funding to Southern Silver for Minera Plata del Sur's exploration of the property since October 2012 and holds an option to earn a 70% indirect interest in the project by paying Southern Silver both option payments and program funding that could reach $25 million on the project over a ten year period if FMEC does not terminate earlier. To date, FMEC has provided Southern Silver funding of approximately $4,100,000 for option payments and applicable taxes, and to fund exploration of the property.

Southern Silver Announces Resignation of Scott Hean as Director

Southern Silver announced that Scott Hean has resigned as a director effective January 10, 2014.

Southern Silver Exploration Corp. Reports Second Phase Drill Program at Cerro Las Minitas Project

Southern Silver Exploration Corp. reported that Freeport-McMoRan Exploration Corporation has provided to Southern Silver $250,000 which was utilized to pay the November, 2013 periodic option payment to the optionor of the Cerro Las Minitas mineral concessions in Durango State, Mexico. Southern Silver also reported that the next phase of diamond drilling has started on the Cerro Las Minitas Project. Plans are for approximately 4,000 metres of core drilling. Seven sites have been selected for testing as a follow-up on earlier drilling funded by FMEC comprising 3,445 metres of drilling in eight holes which was successful in delineating new zones of mineralization at several target areas on the property. The drilling program will continue to test the lateral and down dip extensions of the known mineralized zones and includes one hole on the recently acquired EL Sol concession which could extend the on-strike potential of the previously identified zones of mineralization by upwards of 800 metres. Drilling is also planned to test the depth extension of mineralization at Mina Santo Nino, one of several historic small mining operations on the project, Zn-Ag-rich mineralization at the El Sol zone and IP/Res and gravity geophysical anomalies outboard and to the northeast of the central intrusion.


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