Targets extend 4.2 km east from one of America’s great silver districts where multiple holes have already intersected high-grade mineralization, Hughes Project, Nevada
Summa Silver Corp. (TSX-V: SSVR) (OTCQX: SSVRF) (FSE: 48X) is pleased to provide an update on the highly-prospective eastern extension of the Tonopah Mining district at the Hughes Project near Tonopah, Nevada.
Key Highlights (see attached figures):
Galen McNamara, CEO, stated: “Our success rate and making new discoveries across the eastern extension of the Tonopah mining district is a testament to our systematic and methodical approach to exploration. We have now compiled and interpreted all recent exploration data and have re-focused our efforts on unraveling the high-grade, silver-gold potential of the highly-prospective eastern corridor. At our core, we remain focused on discovery in an around classic American high-grade silver-gold districts and we look forward to continuing to unlock value at both Hughes and Mogollon.”
Figure 1: Hughes Project Drill Targets
Figure 2: Hughes Project Long Section
The Targets
The priority exploration targets are dispersed across the highly-prospective eastern extension of the Tonopah mining district. These targets were identified by Summa over the course of multiple ground-based exploration programs (see the Company’s news release dated May 2, 2023), and include:
Following discovery, a 3D IP geophysical survey, centered east of the Ruby discovery, identified numerous broad coincident chargeability and resistivity anomalies (see attached figures), including one immediately along strike to the east of the drilled Ruby area. Exploration drilling, targeting the proximal coincident anomalies, yielded significant zones of mineralization including 1,450 g/t silver equivalent* (8.4 g/t Au, 812 g/t Ag) over 3m in SUM23-59 (see the Company’s press release dated August 2, 2023) and 392 g/t silver equivalent* (3.0 g/t Au, 147 g/t Ag) over 3.0 m in SUM23-60 (see the Company’s press release dated December 7, 2023). The intercept in SUM23-60, a 650 m step out from the Ruby vein, is within a 500 m interval of strong and locally pervasive epithermal-related hydrothermal alteration highlighted by local intervals of strong silver-gold mineralization in meter-scale quartz rich breccias and veins. The strongest intercept in hole SUM23-60 was approximately 300 m above the favourable Ruby horizon, thus opening the near-surface potential of the Ruby target to the east.
The Plans
The Company will announce detailed plans for the upcoming exploration program at Hughes once targets are finalized in the immediate future.
Qualified Person
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.
About Summa Silver Corp
Summa Silver Corp is a junior mineral exploration company. The Company owns a 100% interest in the Hughes project located in central Nevada and in the Mogollon project located in southwestern New Mexico. The high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes project. The Mogollon project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither have seen modern exploration prior to the Company’s involvement.
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