Ownership Of High-Grade Silver And Gold Hughes Property

VANCOUVER – Summa Silver Corp. reported that it is, on an accelerated basis, completing all option payments to the vendor of the Hughes Property at Tonopah, NV to earn 100% ownership of the project, subject to a 1% NSR. Drilling remains ongoing on the Hughes property with results now pending for 7 additional holes, and drilling taking place at the Ruby Discovery. Most holes have intersected zones of quartz-adularia veins, stockworks, and breccias typically featuring visible Ag-sulfosalts.

At Mogollon in New Mexico, company geologists are currently on-site, a diamond drill has been secured, drill pad construction is on-going, and rig mobilization is scheduled immediately with 15,000 m of drilling planned before the end of Q2 2022. The Company has entered into an amendment to the option and joint venture agreement pursuant to which it has a right to earn up to a 100% interest in the historic Mogollon silver-gold mining district from Allegiant Gold Ltd.