Great Panther Provides Update on Coricancha Project

- September 6th, 2018

Great Panther Silver Limited provided an update on the progress of the trial stope and bulk sample program at its 100 percent owned Coricancha gold-silver-lead-zinc-copper underground mine in Peru. 

Great Panther Silver Limited (TSX:GPR; NYSE American:GPL) provided an update on the progress of the trial stope and bulk sample program at its 100 percent owned Coricancha gold-silver-lead-zinc-copper underground mine in Peru.

The BSP will process about 6,000 tonnes of material and is expected to be completed in the first quarter of 2019. Its objective is to validate key mine and process plant operating parameters used in the company’s preliminary economic assessment (PEA) announced on May 31, 2018, and further de-risk Coricancha. Following the completion of the BSP, the company expects to make a decision in early 2019 on whether to commence the restart of Coricancha.

To date, 160 metres of decline access has been advanced, representing 35 percent of the project total, and is ahead of schedule. The development has reached mineralization at the Constancia vein.  The following provides a view of the Constancia vein in the 536 cross-cut, (looking south), showing a 2.05 metre vein width grading 151grams per tonne, 6.04 grams per tonne gold, 2.94 percent lead, 1.06 percent zinc, and 0.12 percent copper. In addition, work to date has shown that resue has been effective at separating vein material from waste and controlling over-break.

Further, the project has advanced in the following key areas:

  • Successful test of the crusher has been completed
  • Refurbishment of the concentrator is well advanced
  • Surface roads and underground mine rehabilitation has been initiated
  • 26 metres of development completed in galleries and preparations have begun for stope development

The company’s QA/QC program includes the regular insertion of blanks, duplicates, and standards into the sample shipments; diligent monitoring of assay results; and necessary remedial actions.  Sample assaying was completed at the independent SGS-Lima lab in Lima, Peru. The gold was analyzed by fusion with 30 grams fire assay and atomic absorption spectroscopy (AAS) finish, with the resulting values reported in parts per million (code FAA313). The remaining 52 elements were analyzed by mass spectrometry of inductively coupled plasma (ICPMS) and the resulting values were reported in parts per million (code IMC12B). Any gold results that exceeded the limit of detection were re-analyzed by fire assay with a gravimetric finish (code FAG303). Any silver results that exceeded the limit of detection (> 10 grams per tonne) were re-analyzed by fire assay with a gravimetric finish (code FAG313). Any other metals that exceeded the limit of detection were re-analyzed by ICP-AAS (code AAS11B).

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