Silver

Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) announced an update to the mineral resource estimate for its Mexico-based Guanajuato mine complex.

Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) announced an update to the mineral resource estimate for its Mexico-based Guanajuato mine complex.
Highlights are as follows:

  • The GMC contains estimated Measured and Indicated (“M&I”) Mineral Resources of 510,068 tonnes above aUS$74/tonne cut-off, at an average grade of 181g/t silver and 2.70g/t gold, for a total of 6,109,217 silver equivalent ounces (“Ag eq oz”).  This is unchanged from the previous Mineral Resource (news release of February 23, 2015).
  • The GMC contains estimated Measured Mineral Resources of 340,175 tonnes above a US$74/tonne cut-off, at an average grade of 187g/t silver and 2.97g/t gold, for a total of 4,330,941 Ag eq oz.  This is a 36% increase from the previous Mineral Resource due to San Ignacio Mine Mineral Resources being categorized as Measured for the first time, and a decrease in the Guanajuato Mine Measured Resource.
  • The GMC contains estimated Indicated Mineral Resources of 169,894 tonnes above a US$74/tonne cut-off, at an average grade of 172g/t silver and 2.18g/t gold, for a total of 1,778,275 Ag eq oz.  This is a 39% decrease from the previous Mineral Resource due to San Ignacio Mine Indicated Mineral Resources being re-categorized to Measured Mineral Resources, and a slight increase at the Guanajuato Mine.
  • The GMC, excluding the El Horcon Project, contains estimated Inferred Mineral Resources of 906,521 tonnes above aUS$74/tonne cut-off, at an average grade of 140g/t silver and 2.69g/t gold, for a total of 9,629,557 Ag eq oz.  This is an 18% decrease from the previous Resource due to the San Ignacio Mine Inferred Resource being re-categorized to an M&I Mineral Resource, and a slight decrease at the Guanajuato Mine, as some Mineral Resource was reclassified as Geological Potential.  Including the El Horcon Project, the GMC contains estimated Inferred Mineral Resources of 1,035,253 tonnes at an average grade of 133g/t silver and 2.81g/t gold, for a total of 11,535,680 Ag eq oz.  This is a 16% decrease from the previous Resource.  The El Horcon Project Inferred Mineral Resource decreased due to lower metal prices only, as no further work was completed in 2015.
  • At the Guanajuato Mine, the Mineral Resource classified as Geological Potential was estimated within ranges for areas that contain historic workings with limited topographic control.  Geological Potential is stated as ranges and includes 199,700 to 288,500 tonnes grading between 123 – 144g/t silver and 1.87 – 2.20g/t gold.  This includes areas drilled and evaluated underground including Promontorio, parts of Los Pozos, and parts of Valenciana.

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

In 2015, we successfully replaced what we mined at the GMC and upgraded much of the San Ignacio Resource to higher categories. Going forward, we will continue our efforts to expand and further define the resource at the San Ignacio Mine, while conducting more definition and exploratory drilling within the main Guanajuato Mine itself.

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

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