Hughes Project
The Tonopah District
Discovered in 1900, Tonopah quickly became known as the Queen of the Silver Camps. Over the next months and years, people from all over the country rushed to Nevada in hopes of making their fortunes. Over the next half century, the Tonopah district produced 175 million ounces of silver and 1.86 million ounces of gold from 8.8 million tons of rock.
Historic Production Source: United States Geological Survey, 2018
Tonopah Railroad, 1908
A World-Class Mining Jurisdiction
Nevada
- Top-3 ranked Global Mining Investment Jurisdiction
- 5.6M oz of gold production annually
- Originally known as the Silver State
Walker Lane Trend
- Endowment of at least 80 M oz of gold
and 700 M oz of silver
Source: Nevada Bureau of Mines
“Located in the heart of the famous historic Tonopah District and covering 5km of its possible eastern extension, the Hughes Project represents a unique opportunity to both revitalize a historic district and make new discoveries in the shadows of the headframes of some of America’s great historic silver producers.”
Galen McNamara
Summa Silver CEO & Director
Project Highlights
Eastern half of the Tonopah district, second largest historic silver producer in Nevada
Total production of 175 Moz of Ag and 1.86 Moz of Au at grades of 679 g/t Ag and 7.3 g/t Au or 1,235 g/t AgEq* from the distric
3,969 acres – 5.5 km strike length
Formerly owned by Howard Hughes
High-grade Ag-Au in recent drilling
2020 & 2021 Highlights include:
SUM21-30
3,971 g/t AgEq over 2.8 m
SUM20-06
536 g/t AgEq over 18.1 m
SUM21-31
1,529 g/t AgEq over 4.3 m
Multiple zones of >1,000 g/t Ag equivalent intersected over a 3.5 km trend, mineralized zones largely open, un-tested drill targets common
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). Click here to view silver and gold grades comprising AgEq
Sources: USGS 2018, Sander 1989, Carpenter et al. 1953
Quartz-adularia-argentite vein from the Belmont Mine
Geology
The Tonopah mining district is an intermediate sulfidation epithermal vein system. Productive veins in the district are hosted in volcanic rocks which range in composition from andesite to rhyolite. High-grade mineralization in the veins consists of argentite, polybasite, electrum, sphalerite, galena and chalcopyrite. The host volcanic rocks adjacent to the veins are altered to quartz, sericite and adularia. This zone of potassium-silica alteration grades outwards into an argillic zone of alteration consisting of kaolinite, halloysite, sericite, and montmorillonite, which in turn grades outwards into propylitic alteration.
The Belmont Mine
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)).
True thicknesses are estimated to be 70-80% of drilled intercept length
Land Position, Access,
and Infrastucture
Road Access
with multiple dirt roads and trails
U.S. Highway 6
crosses the project
Typical Project Terrain
plus, powerline crossings
Tonopah – by the numbers
Km Tonopah District Strike Length
Million ounces Ag
Million ounces Au
g/t Ag Eq Head Grade
679 g/t Ag
7.3 g/t Au
Additional Km Exploration Potential on Project
Tonopah
5km Exploration Potential on Project
175M Oz Ag + 1.9M Oz Au
Guanajuato
815M Oz Ag + 3.6M oz Au
San Dimas
582M Oz Ag + 11M Oz Au
Pachuca
1,500M Oz Ag + 6.2M Oz Au
Comstock
200M Oz Ag + 8.3M Oz Au
Tonopah
175M Oz Ag + 1.9M Oz Au
+ 5km Exploration Potential on Project
Guanajuato
815M Oz Ag + 3.6M oz Au
San Dimas
582M Oz Ag + 11M Oz Au
Pachuca
1,500M Oz Ag + 6.2M Oz Au
Comstock
200M Oz Ag + 8.3M Oz Au
Source: USGS
Mineralization hosted on adjacent and/or nearby and/orgeologically similar properties is not necessarily indicative of mineralization hosted on the Company’s project.
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). Click here to view silver and gold grades comprising AgEq.
Hughes Project Discovery Potential
Potential for new discoveries on the Hughes Project is high. Many of the previously mined veins in the Company’s Belmont and Mizpah Extension mines remain open. East of the mines, historical drilling by a previous operator in 1989 intersected mineralization that was never pursued. Historically the entire Tonopah District, much of which includes the Hughes Project, was mined over a 4 km strike length in total. There is additional 5 km on the Hughes Project and it’s almost completely unexplored.
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). True thicknesses are estimated to be 70-80% of drilled intercept length.
Click here to view silver and gold grades comprising AgEq
Qualified Person under NI 43-101
Galen McNamara, P.Geo., the Chief Executive Officer of the Company, and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained on this website. Mr. McNamara has verified the data disclosed herein, including sampling and drilling data underlying the technical information contained herein, by reviewing blanks, duplicates and certified reference material that the Company inserted into the sample stream and confirming that they fall within limits as determined by acceptable industry practice.
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