Great Panther Silver (TSE:GPR)(AMEX:GPL) Wednesday unveiled updated mineral resource estimates at its wholly-owned Guanajuato Mine and and San Ignacio project in Guanajuato, Mexico.
The updated measured and indicated mineral resource at the Guanajuato
Mine Complex contains 5.649 million ounces of silver equivalent,
replacing production from the Guanajuato Mine during the past 18 months.
Inferred mineral resources at the Guanajuato Mine are estimated at 2.5 million silver equivalent ounces.
Since San Ignacio is effectively a satellite of the Guanajuato Mine
Complex, located 20 km away by road, and any mineralization extracted
from San Ignacio will be processed at the Cata Plant, the resource is
now being considered as part of the overall Guanajuato Mine mineral
inventory, the company said.
The new inferred mineral resource at San Ignacio is estimated to
contain 6.89 million silver equivalent ounces in 826,000 tonnes
averaging 121 g/t silver and 2.28 g/t gold, using a 125 g/t cut-off.
The estimate for San Ignacio increases the tonnage by 35 percent, the
silver content by 29 percent, the gold content by 51 percent and the
silver equivalent ounces by 53 percent over the previous estimate, Great
At San Ignacio, surface drilling is ongoing with two drills, and
continues to extend the limits of the known mineralized zones beyond the
Highlights in the known zones include 2.65 metres grading 533 grams
per tonne (g/t) silver and 7.59 g/t gold, and 1.15 metres grading 249
g/t silver and 2.99 g/t gold.
In addition, new but as yet irregular, high grade silver-gold veins
have also been discovered at San Ignacio. These zones returned
intercepts of 794 g/t silver and 3.70 g/t gold over 2.22 metres in hole
ESI12-079, 422 g/t silver and 10.50 g/t gold over 0.60 metres in
ESI12-075 and 131 g/t silver and 19.20 g/t gold over 0.50 metres in
None of these intercepts are contained within the aforementioned resource for San Ignacio, the company said.
For Guanajuato, the mineral resource estimate contains measured and
indicated mineral resources of 5.649 million silver equivalent ounces,
including 3.53 million silver equivalent ounces in the measured category
and 2.119 million silver equivalent ounces in the indicated category.
Inferred mineral resources are estimated at 2.5 million silver
equivalent ounces. These are contained in the Cata Clavo, Los Pozos,
Santa Margarita and Guanajuatito zones.
Mining of these four zones currently accounts for most of the Guanajuato metal production.
Great Panther said underground drilling is ongoing with five drill
rigs to delineate new resources on the upper and depth extensions of Los
Pozos, the southeast strike extension of Santa Margarita, and lateral
and deep extensions at Guanajuatito, as well as deep exploration at
Valenciana and Rayas.
Great Panther is a primary silver mining and exploration company
focused on mining precious metals from its two wholly-owned operating
mines in Mexico.
It also owns the development stage property San Ignacio, and an
exploration stage property, Santa Rosa, which is located approximately
15 kilometres northeast of Guanajuato.
Full details as well as maps can be found at: http://www.greatpanther.com