Great Panther Increases Mineral Resource Estimate for Guanajuato Mine Complex

Editor’s note: Great Panther issued a correction for this release on February 2, 2015. 

Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) released an updated mineral resource estimate for its Mexico-based Guanajuato Mine Complex. It includes updates on the Guanajuato and San Ignacio mines and El Horcon project, but doesn’t include the most recent drill results from San Ignacio.

Highlights include:

• Updated Measured and Indicated (‘M&I’) mineral resources at the producing operations of the GMC (Guanajuatoand San Ignacio Mines) comprise 349,700 tonnes at a grade of 260g/t silver (‘Ag’) and 3.32g/t gold (‘Au’), containing 5,558,000 silver equivalent ounces (‘Ag eq oz’), using various silver equivalent (‘Ag eq’) cut-offs in the different mineralized zones.
• Inferred mineral resources at the producing operations of the GMC are estimated to comprise 451,900 tonnes at a grade of 147g/t Ag and 3.34g/t Au, containing 5,556,500 Ag eq oz. Different cut-off grades were used for the mineralized zones as indicated in the tables below. Including the non-producing El Horcon Project, Inferred resources comprise 601,100 tonnes at 130g/t Ag and 3.38g/t Au, containing 7,637,700 Ag eq oz.

Robert Archer, president and CEO of Great Panther, commented:

This latest Mineral Resource Estimate for the GMC represents a 37% increase in Measured and Indicated Resources despite the impact of much higher cut-off values due to the decline in metal prices in 2014. In addition, we expect a resource update before the end of the quarter from the recent drilling completed at San Ignacio. We have also increased our 2015 drilling budgets for both San Ignacio and Guanajuato. This will allow us to further delineate the recently discovered high grade mineralization at San Ignacio and increase our confidence in the deep resources at the Guanajuato Mine.

Click here to read the full Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) press release.