Great Panther Silver Reports Initial Mineral Resource Estimate at San Ignacio Project, Guanajuato

Great Panther Silver Ltd. (TSX:GPR,AMEX:GPL) announced a resource estimate of 611,000 tonnes at 127g/t silver and 2.05g/t gold at its Mexico-based San Ignacio Project.

As quoted in the press release:

The initial resource estimate was based on a minimum cut-off grade of 118g/t Ag Eq Oz, and used a minimum true width of 0.5 metre, with no dilution. The base case cut-off grade was estimated, utilizing mining and processing experience gained at Great Panther’s Guanajuato Mine, 20km by road to the east, an assumed 50:1 Ag:Au ratio, and metal prices of US$28.00/ounce silver and US$1,400/ounce gold.

Great Panther Silver’s President and CEO, Robert Archer said:

“Past production on the Plateros Vein on the western side of the property was only 617,455 tonnes at 113g/t Ag and 1.01g/t Au over a period of 24 years (1977-2001) so the new zones are already showing much greater potential and significantly higher gold grades.”

Click here to read the Great Panther Silver (TSX:GPR) press release.