VANCOUVER, BC, Dec. 30, 2021 /CNW/ - Southern Empire Resources
Corp. (Southern Empire) (TSXV: SMP) (Frankfurt: 5RE) (OTC: SMPEF) has received
preliminary high-resolution, airborne magnetic and radiometric
geophysical data covering the Pedro Gold Project, located in
northeastern Durango State, México.
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.
of Markham, Ontario, collected
393.2 line-kilometers (km; ~244 line-miles) of airborne geophysical
data on flight lines that were flown at azimuth 060o /
240o with 50 metre spacings. This data has been
delivered to Condor Consulting, Inc. of Lakewood, Colorado; experts in geophysical
processing, analysis and inversion modeling.
David Tupper, P.Geo., Southern
Empire's 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."
Servicios de Ingeneria Ambiental y Seguridad S.A. de C.V. of
Durango, México has mobilized
a diamond drill rig to the Pedro Property and is scheduled to start
a 2,000 metre (m; 6,560 feet), nine-hole core drill program in
January of 2022.
Pedro Gold Project Highlights:
- Outcropping epithermal gold targets with potential for bulk
mineable and bonanza-grade vein deposits
- 4,000 m by 1,000 m gold-in-soil anomaly coincident with
gold-bearing, silica-rich breccia outcrops
- Additional gold targets identified beneath post-mineral cover
by 2020 geochemical survey
- Historical reverse circulation and core drilling by Newmont in
2014 that confirmed the presence of gold
- In 2019, a 70 line-kilometer IP survey identified vertical,
feeder vein targets that are not yet drill tested
- Permits established for up to 25 drill holes
- Mineral concessions cover ~1,750 hectares ("ha"; 4,324 acres)
of private ranch lands
- Located in Durango, a
mining-friendly state in north-central México
- Good access to the project area, ~80 km (50 miles)
west-northwest of the city of Torreón
- Local infrastructure available in the nearby town of
Mapimí
Nine proposed Phase 1 drill locations are projected onto the
preliminary airborne magnetic data in Figure 1 and the historical
Induced Polarization (IP) chargeability and gold geochemistry in
Figure 2.
Southern Empire holds the Pedro Gold Project through an
agreement with Commander Resources Ltd. (TSX-V: CMD) allowing
Southern Empire to acquire a 100% beneficial interest. Please
see Southern Empire's news release of July
27, 2021, for further information about the Pedro Gold
Project.
Qualified Person
The scientific and technical information contained in this news
release has been prepared, reviewed, and approved by David Tupper, P.Geo. (British Columbia), Southern Empire's VP
Exploration and a Qualified Person (QP) within the context of
Canadian Securities Administrators' National Instrument 43-101;
Standards of Disclosure for Mineral Projects (NI 43-101).
Other Corporate Developments
Southern Empire has entered into an option agreement
with Riverside Resources Inc. (Riverside; TSX-V: RRI) that grants Southern
Empire the opportunity to acquire a 100% interest in the 647 ha (~
1600 acres) VLM Project located in northwestern
México. Southern Empire may acquire the VLM Project by
paying a total of CAD$137,500 and
issuing a total of 1,625,000 common shares over a period of two
years from the approval of the TSX Venture Exchange (TSX-V). Future
production will be subject to net smelter return royalties, payable
to Riverside, of 2.5% 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 CAD $4
million within ten years of the TSX-V approval date.
About Southern Empire Resources Corp.
Southern Empire is focused on the acquisition, exploration and
development of metals and minerals deposits in North America.
In northeastern Durango State, México, Southern Empire has an
option to acquire a 100-per-cent beneficial interest in the
1,750-hectare Pedro Gold Project where 2014 drilling by a
subsidiary of Newmont Mining Corporation encountered epithermal
gold mineralization within basal conglomerates of the Ahuichila
Formation. Please see Southern Empire's news release of
July 27, 2021, for further
details.
In the Cargo Muchacho mountains of Imperial County, California, Southern Empire
owns 100 percent of the historical gold-producing American Girl
mine property and holds options to acquire a 100 percent interest
in the adjacent 2,160-hectare (5,338-acre) Oro Cruz property
located approximately 22.5 kilometres (14 miles) southeast of the
operating Mesquite gold mine of Equinox Gold Corp.
At Oro Cruz, extensive historical drilling and large-scale
open-pit and underground mining of the American Girl, Padre y
Madre, Queen, and Cross oxide gold deposits by the American Girl
Mining Joint Venture (AGMJV; ultimately owned 53 percent by MK Gold
Company and 47 percent by Hecla Mining Company) occurred between
1987 and 1996. During that time, gold was recovered by either heap
leaching of lower-grade, or milling of higher-grade ores until
AGMJV operations ceased in late 1996 because of declining gold
prices leaving the Oro Cruz property with many gold exploration
targets in addition to the historical inferred resource estimate,
reported In 2011 by Lincoln Mining Corp., totaling 341,800 ounces
gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne
(g/t Au) at a cut-off grade of 0.68 g/t Au (4,835,000 tons at 0.07
ounce gold per ton; Please refer to the Cautionary Notice Regarding
the Oro Cruz Property Historical Resource Estimate below).
On behalf of the Board of Directors of Southern Empire
Resources Corp.,
Dale
Wallster, CEO and Director
For further information on Southern Empire please visit:
www.smp.gold and SEDAR
Cautionary Notice on Forward-Looking Information
Information provided in this news release may contain
forward-looking information or forward-looking statements that are
based on assumptions as of the date of this news release. Such
information or statements reflect management's current estimates,
beliefs, intentions, and expectations and are not guarantees of
future performance. Southern Empire cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by many material factors, many of which
are beyond its respective control. Such factors include, among
other things: risks and uncertainties relating to Southern Empire's
limited operating history, the need to comply with environmental
and governmental regulations, results of exploration programs on
its projects, and those risks and uncertainties identified in its
annual and interim financial statements and management discussion
and analysis. Accordingly, actual and future events, conditions,
and results may differ materially from the estimates, beliefs,
intentions, and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, Southern Empire undertakes no obligation to
publicly update or revise forward-looking information.
Cautionary Notice Regarding Historical Resource
Estimate
The Oro Cruz Project historical resource estimate outlined above
is disclosed in a technical report dated April 29, 2011, prepared for Lincoln Mining Corp.
by Tetra Tech, Inc. and filed on Canadian Securities
Administrators' System for Electronic Document Analysis and
Retrieval (SEDAR). It is termed an inferred mineral resource, which
is a category set out in NI 43-101. It was based on historical
reverse circulation and core drill hole sample, underground channel
sample, and blasthole sample assay results and calculated using
ordinary kriging to estimate gold grades in
10-foot-by-10-foot-by-five-foot blocks. Accordingly, Southern
Empire considers this historical estimate reliable as well as
relevant as it represents key targets for future exploration work.
However, a QP has not done sufficient work to verify or classify
the historical estimate as a current mineral resource and Southern
Empire is not treating this historical estimate as current mineral
resources.
Work Programs During the COVID-19 Pandemic
The timing of Southern Empire's exploration programs will be
contingent on governmental regulations regarding the COVID-19
pandemic and also the availability of exploration-related
personnel, drill contractors, equipment, lodging, et cetera.
Southern Empire will adhere to COVID-19 directives regarding safe
working practices putting worker, community and national safety
first and will proceed with exploration and development work
programs only if potential COVID-19 risks can be effectively
managed.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Southern Empire Resources Corp.