Summa Silver Drills 6,220 g/t Silver Equivalent Over 0.7 m At Hughes Property

VANCOUVER - Summa Silver Corp. reported additional high-grade silver-gold intersections from the Hughes Property in central Nevada. These results spanning across 3.5 km confirm the considerable geologic potential of the project while the new Ruby Discovery represents a 1.3 km step-out from the historic Tonopah District.

Galen McNamara, CEO, said, "The completion of the Company's first drill program represents a significant milestone.  It is now even more apparent that the Tonopah Mining District still hosts significant zones of high-grade silver and gold mineralization. In addition, the importance of drilling such strong mineralization in such an aggressive step-out at the new Ruby Discovery is difficult for me to over emphasize. Further drilling is necessary to determine if the Ruby Discovery is in fact a one-plus kilometer extension of the Tonopah District, or a unique discovery on its own. In any case, we very much look forward to further drilling at the Hughes Property and another busy year in 2021"

The Phase I drill program was designed to test the lateral and vertical extent of structurally controlled, epithermal-related, high-grade silver and gold mineralization historically mined in the Tonopah District. Based on a pre-drilling compilation of all available historic drill and underground geological, structural and assay data, four priority targets were selected. These targets cover an east-west strike-length of approximately 4 km and were systematically tested in 29 drill holes.

Nineteen holes tested numerous steeply-dipping, west-southwest striking veins and secondary splays in the Belmont target area. At each vein location, a series of holes tested the along-strike and down-dip extensions of mineralization in approximately 50 m centered piece-points along the vein. In most cases, mineralization consists of locally Ag-sulfasalt bearing, banded to brecciated quartz ± adularia veins with associated argillic alteration halos hosted in intermediate to felsic volcanic and volcaniclastic rocks. Vein thickness varied from a few centimeters to a few meters. Assays for 5 holes and 11 holes remain pending from the Belmont target area.

One hole tested the Ruby target located 1.3 km east of the Belmont mine where a broad zone of strong propylitic alteration transitioning to pervasive and intense clay and sericite alteration with local zones of Ag-sulfosalt bearing banded and brecciated quartz ± adularia veins were cut. The orientation of the main alteration zones and associated mineralized veins are interpreted to be steeply-dipping to the north. The lateral extent of mineralization along strike has yet to be tested. Additionally, the hydrothermal alteration intersected in the hole is interpreted to be the strongest and most significant alteration observed on the property to date. The volcanic host rocks are interpreted to be equivalent to the host rocks in the heart of the adjacent historically mined Tonopah District. Two holes tested the gently-dipping, east-striking Halifax vein of the Mizpah Extension. Several intervals of banded and brecciated quartz ± adularia veins hosted in interpreted splays off the main Halifax vein were intersected in both holes.  

Seven holes tested the gently-dipping, southwest-striking Murray vein hosted along the regional-scale Tonopah fault at the Murray target. Mineralization here is associated with broad intervals of strong argillic alteration cored by zones of quartz stockwork up to 30 m wide and local Ag-sulfosalt bearing, banded quartz veins.  Assays for 3 holes remain pending from the Murray target.

Remaining assay results from the Phase I program will be reported in a timely manner as they are received and compiled.