Final Two Core Holes At The Oro Property Completed

VANCOUVER - Southern Silver Exploration Corp. reported on the final two core holes of its 4,050-meter, 2022 drilling program at its wholly owned Oro property, located in the Laramide-age, porphyry copper belt in southwestern New Mexico. Hole OR22-012 tested a strong ZTEM geophysical anomaly in an area believed to be relatively high in the metal system and where Cretaceous-age carbonate host rocks were expected to lie at relatively shallow depths beneath Laramide-age andesite volcanic rocks. The hole intersected veins with strongly anomalous gold (12.4 g/t over 0.8 meters at 495.7 meters depth) in a banded anhydrite+pyrite+calcite breccia vein and, deeper in the hole, intersected anomalous silver and lead (908 g/t Ag and 10.4% Pb over 0.2 meters at 594.6 meters depth) in a barite+galena vein, consistent with expected metal zoning. Favorable carbonate host rocks were intersected with abundant sulfide minerals below a 6-meter-thick massive anhydrite vein at roughly 590-meters depth. The 427.2-meters interval from 578.6 to 1,005.8 meters averages 0.15% CuEq (0.08% Cu, 0.01% Mo, and 1.4g/t Ag), with variable mineralization continuing to the end of the hole at 1,006 meters depth. The strongest mineralization is 9.1 meters of 0.59% Cu, 0.01% Mo, 0.3 g/t Au, and 2.3g/t Ag (0.92% CuEq) from 834.5 to 843.7 meters in a carbonate replacement zone with abundant magnetite, specular hematite, and epidote with minor pyrite, calcite, and anhydrite. Dikes ranging from unaltered to strongly altered are common throughout the hole.

Hole OR22-012 only tested a portion of the strong ZTEM anomaly in the area leaving a significant strike-length and width of the anomaly remaining for further drill testing. An additional 56 Federal lode claims were staked to cover the possible extensions of the copper-rich skarn/CRD mineralization intersected in OR22-012. Mapping of the new claims has been completed, with samples submitted for analyses.

Hole OR22-013 is an offset to the first two holes of the 2022 program, which partially tested the porphyry target identified through earlier geological compilation, clay-alteration studies and ZTEM airborne geophysics. These earlier holes intersected classic geochemical and alteration zoning demonstrating near-surface, low-temperature prophyllic alteration transitioning at depth into a thick zone of strong pyritic/phyllic-alteration, and at further depth transitioning into high-temperature potassic alteration with strong copper enrichment. Hole OR22-011 intersected an unexposed hydrothermal breccia pipe with copper oxides directly beneath gravel cover.

Hole OR22-013 also intersected the breccia pipe with copper oxides beneath surface gravel, intersecting 19.7 meters (12.0 - 32.6 meters) of 0.12% CuEq (0.08% Cu, 0.1% Zn, and 1.7 g/t Ag) before entering much less altered andesite volcanics. Below 485 meters depth, alteration increased to 770 meters depth, below which altered and unaltered dikes and variably altered blocks of sedimentary rocks were encountered, ending in a medium-grained intrusion with patches of disseminated chalcopyrite. The 710.4-meter interval from 413.6 meters to the end of the hole at 1,124.1 meters assays consistently anomalous copper, averaging 0.04% Cu over the entire interval but with higher-grade intervals as noted in the table below. Fragments of quartz veins with chalcopyrite can be found in the intrusion, along with other wall-rock clasts, suggesting a complex evolution of intrusions and related mineralization.

Consultant Joe Kizis, said, "This program greatly advanced our understanding of the Oro mineral system, confirming our belief that the current erosional surface exposes the lithocap, or uppermost portion, of a large Laramide-age copper porphyry system. The ZTEM geophysical data appears to correctly define sulfide-rich phyllic alteration, which typically surrounds the strongest copper values, and the low regions appear to correctly identify several lower sulfide intrusive centers. As observed in many other districts, we can expect the intrusions to provide different endowments of copper, and some will be barren of mineralization. The recognition of breccia pipes beneath shallow gravel cover is important because the breccia pipes may host high grades of copper deeper beneath the lithocap.

"The mineralization in hole OR22-012 is very encouraging because it demonstrates the importance of favorable carbonate host rocks, which concentrate copper, and it may indicate that the intrusive center indicated by the ZTEM low to the northwest may be more productive than the intrusive center intersected in hole OR22-013. There is also an intersection of mineralized faults west of hole OR22-012, justifying the new claims recently staked. In addition, the ZTEM high anomaly is strongest north of the area tested by OR22-012, indicating that even higher concentrations of sulfides lie north of the hole and providing another strong target for future drilling."