Summa Silver Corp. provided a drilling update from the high-grade silver-gold Mogollon Project, near Silver City, New Mexico (Mogollon Project). Mogollon Drill program: The focus of the recently completed multi-rig drill program at the Mogollon Project was on testing for un- mined extensions of the Consolidated Mine, centered on the north-trending Queen Vein. Holes were drilled over a strike-length of approximately 500 meters and near-vertical, down-dip extent of over 350 meters beginning at approximately 130 meters below surface. All the holes reported in this release were drilled north of the Consolidated Mine. Hole MOG22-16 was designed to test for the up-dip extent of mineralization 100m above MOG22-05 (31.0 m
at 448 g/t silver equivalent; 129 g/t Ag, 3.88 g/t Au; see the Company's news release dated May 3, 2022 for additional details). The hole intersected one of the broadest zones of epithermal-related veining drilled to date. The zone consists of numerous cm-scale intervals of colloform-banded quartz veins and quartz- cemented breccias increasing in frequency over 17m towards a 36m zone of poly-phase, quartz-rich hydrothermal breccias at 236m to the bottom of the zone at 273m. Mineralized sections were first intersected at 241m down hole and were mostly comprised of intermittent zones of finely laminated silver sulfides in local banded-quartz-rich clasts within brecciated intervals. At least 5 zones of visible silver sulfide
mineralization were intersected within the 58 m intercept across the Queen Vein system. Hole MOG23-19 intersected a similar broad zone through the Queen Vein system. The hole intersected the Queen Vein approximately 85m up-dip from MOG23-016 and 185m up-dip from MOG22-05. The zone consists of numerous intervals of brecciated quartz veins and quartz-cemented breccias increasing in frequency over 22m towards a thick 39m zone of poly-phase, quartz-rich hydrothermal breccias and banded quartz- carbonate veins at 153m to the bottom of the zone at 192m. A few local zones of silver-sulfide mineralization were noted during logging across the impressive vein zone. Holes MOG23-17 and -18 were designed to investigate the down-dip extent of mineralization intersected in MOG22-08 (17.8m at 339 g/t silver equivalent; 143 g/t Ag, 2.46 g/t Au. Hole MOG23-017 was an 80m step-out down-dip from MOG22-008 and MOG23-018 was a 75m step-out along strike from MOG23-017. Both holes successfully intersected narrow locally well developed zones of epithermal-related veining and brecciation, however, silver sulfides were not noted during logging. The recently completed drill program at the Mogollon Project consisted of holes drilled on 50 to 100m centers across the north-south trending Queen Vein. Results to date have outlined two key areas, north and south of Consolidated, that require additional infill and step-out holes to better constrain plunge orientations and the lateral and vertical continuity of the high-grade mineralized zones. All samples will be dispatched to Paragon Geochemical in Sparks, NV for assay analyses. Results are pending. High resolution core box photos from holes MOG22-16 to MOG23-19 can be viewed here.