FMEC Drilling On Draagon Project 

 

Southern Silver Exploration Corp. reported today that Freeport McMoRan Exploration Corp. (FMEC) has advised that permitting for the Dragoon Project is complete. FMEC has indicated its plan to bore a single drill hole to test a down-thrown fault block that may contain both supergene-enriched and hypogene copper mineralization related to a Laramide-age porphyry system. FMEC anticipates drill testing to depths of up to 900 metres but maintains the capacity to extend drilling deeper if required. The Dragoon property is a contiguous block of 12.8 sq. km that comprises 68 unpatented mining claims and four State leases located in southeast Arizona. The property contains areas of exposed Cu-Mo mineralization, Laramide-age porphyry and leached capping in the eastern part of the property and a larger down-dropped block of porphyry related rocks in the gravel-covered western portion of the property. The presence of the leached cap rocks is significant as they may overlie supergene-enriched copper mineralization at depth. FMEC has the right to earn a 70% interest in the property, located in southern Arizona, by spending $3 million in exploration and development expenses on the property by December 31, 2012. The company's address is Suite 1100, 1199 West Hastings Street, Vancouver, BC V6E 3T5, (604) 684-9384, fax: (604) 688-4670, email: [email protected].