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Sunday, January 23, 2022

Southern Empire updates Mexican operations; acquires VLM project

Southern Empire Resources Corp. [SMP-TSXV; SMPEF-OTC; 5RE-FSE] received preliminary high-resolution, airborne magnetic and radiometric geophysical data covering the Pedro gold project in northeastern Durango State, Mexico.

The Pedro gold project has the potential to host epithermal, bonanza-grade precious metal vein deposits as indicated by the HP breccia zone that was discovered in 2012 by regional grassroots prospecting.

In December, 2021, Terraquest Ltd. collected 393.2 line-km of airborne geophysical data on flight lines that were flown at azimuth 60 degrees/240 degrees with 50-metre spacings. This data has been delivered to Condor Consulting Inc. of Lakewood, Colo.; experts in geophysical processing, analysis and inversion modelling.

David Tupper, PGeo, vice-president of exploration, stated: “The results of our preliminary airborne magnetic data provide some strong clues about the structural setting and underlying ‘plumbing system’ of the HP breccia gold zone. Together with the regional government magnetics, we see evidence for a deeper intrusive body that could be linked to the hydrothermal fluids and related potential for epithermal vein systems that are the target of Southern Empire’s upcoming drill campaign.”

A diamond drill rig has been mobilized to the Pedro property and is scheduled to start a 2,000-metre, nine-hole core drill program in January of 2022.

Pedro gold project highlights include outcropping epithermal gold targets with potential for bulk minable and bonanza-grade vein deposits; a 4,000 x 1,000-metre gold-in-soil anomaly coincident with gold-bearing, silica-rich breccia outcrops and additional gold targets identified beneath post-mineral cover by 2020 geochemical survey.

Historical reverse circulation and core drilling by Newmont in 2014 confirmed the presence of gold. In 2019, a 70 line-km IP survey identified vertical feeder vein targets that are not yet drill tested. Permits are in hand for up to 25 drill holes. Mineral concessions cover approximately 1,750 hectares of private ranch lands.

There si good access to the project area, approximately 80 km west-northwest of the city of Torreon and local infrastructure available in the nearby town of Mapimi.

Southern Empire can earn a 100% interest the Pedro gold project from Commander Resources Ltd. [CMD-TSXV; CMDRF-OTC].

Southern Empire has signed an option agreement with Riverside Resources Inc. [RRI-TSXV; RVSDF-OTCQB; R99-FSE] to acquire a 100% interest in the 647-hectare VLM project in northwestern Mexico. Southern Empire must pay $137,500 and issue 1,625,000 shares over two years from TSXV approval. Riverside retains a 2.5% NSR on precious metals and 1.75% on base metals. These royalties may be reduced to 1% on precious metal production and 0.5% on base metal production by payments of an additional $4-million within 10 years of TSXV approval.

Southern Empire can acquire a 100% interest in the 1,750-hectare Pedro gold project where 2014 drilling by a subsidiary of Newmont Mining Corp. encountered epithermal gold mineralization within basal conglomerates of the Ahuichila formation.

In the Cargo Muchacho mountains of Imperial County, California, Southern Empire owns 100% of the historical gold-producing American Girl mine property and holds options to acquire a 100% interest in the adjacent 2,160-hectare Oro Cruz property located ~22.5 km southeast of the operating Mesquite gold mine of Equinox Gold Corp.


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