Mogollon High-Grade Silver Project Accelerates Drilling

VANCOUVER - Summa Silver Corp., CEO, Galen McNamara, CEO, stated: "The arrival of a second rig at Mogollon, Mogollon Property, near Silver City, New Mexico, is an important step towards executing our aggressive drilling plans in 2022. Our primary focus this year is to build ounces largely via step-out drilling into veins of proven high-grade silver and gold mineralization. As drilling progresses, we look forward to sharing progress updates and releasing assays in batches as we receive them."

A second core drill rig is now in full operation on the Mogollon Property. Similar to the first rig, the additional rig will focus on testing for unmined extensions of the Consolidated Mine, centered on the north-trending, epithermal-related, Queen Vein. Based on encouraging visual observations from the first hole, securing a second drill was considered necessary to fully evaluate the potential of the target in a timely manner.

Drill holes, north and south of the Consolidated mine workings, will be on 50-100 m centers designed to test the lateral and vertical continuity of vein- and footwall-hosted mineralization over strike-length of approximately 500 m and a near-vertical, down-dip extent of over 300 m, beginning at 130 m below surface.

The 2,467-acre Mogollon Property is located in the historically prolific Mogollon mining district of southwest New Mexico, approximately 120 km north of Silver City. Numerous underground workings have exploited high-grade gold and silver veins from three primary mines; Fanney, Last Chance and Consolidated. Mining ceased in 1942 and the district has since been largely inactive besides a few exploration drill programs in the 1980s and in 2010; totaling 15,600 m. The property hosts approximately 34 km of near-continuous epithermal-associated veins and faults where only 1.7 km of those veins and faults have been drill tested. The Mogollon Property therefore offers a unique opportunity to build high-grade ounces near historic past-production while systematically exploring for new discoveries using modern techniques.