Summa Silver Announces 78 Million Ounces in Maiden Resource Estimates

Summa Silver Corp (TSX-V: SSVR) on Thursday announced maiden resource estimates for its Hughes Project in Nevada and Mogollon Project in New Mexico, reporting a total of 78.71 million ounces of contained silver equivalent across both sites.

At Hughes, indicated resources were pegged at 980,000 tonnes grading 332 grams per tonne (g/t) silver equivalent, containing 10.47 million ounces of metal. Inferred resources totaled 2.49 million tonnes at 418 g/t silver equivalent for 33.42 million ounces. An additional inferred tailings resource of 1.26 million tonnes grading 68 g/t silver equivalent was identified, containing 2.74 million ounces.

The Mogollon Project reported inferred resources of 2.72 million tonnes grading 367 g/t silver equivalent, for 32.08 million ounces of contained metal.

Summa said both projects remain open for expansion, with additional drilling underway at Hughes to test new mineralized zones along the eastern extension of Nevada’s historic Tonopah mining district. The first drill hole intersected quartz veins and breccias with visible silver sulfide mineralization, the company said.

“These resource estimates represent a significant milestone for Summa Silver,” CEO Galen McNamara said. “Exploring these two storied American mining districts is a privilege, and both clearly have a lot left to give.”

The Hughes Project is located near the Belmont Mine, a major U.S. silver producer between 1903 and 1929, while the Mogollon Project spans 77 kilometers of epithermal-related silver-gold vein systems near Silver City, New Mexico.

Summa, a junior exploration company, said it plans to aggressively expand both projects and add further value in the coming months.