MMC News

Great Panther Silver Confirms Continuation of Gold-Silver Mineralization at San Ignacio Mine

June 19, 2017 Go to Location

VANCOUVER, June 19, 2017 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") announces that surface drilling at its San Ignacio Mine, part of the Guanajuato Mine Complex (the "GMC"), has confirmed the continuation of strong gold-silver mineralization along strike of the current mine workings. 

The drilling, which is ongoing, initially targeted the southeasterly strike extension of the Melladito vein structures, in particular, where this vein set is intersected and cut by, the Plateros vein trend.  The result of this intersection is a thickening of the veins, highlighted by hole ESI16-174, which returned a combined estimated true width of 19.24 metres averaging 6.36g/t gold (Au) and 261g/t silver (Ag).  This comprised 4.65 metres of 4.81g/t Au and 275g/t Ag in the Melladito vein and 14.59 metres of 6.86g/t Au and 257g/t Ag in the Plateros vein.  The extent of this thicker portion of vein intersection is not yet known and additional drilling and mine development will be required to determine its size and significance.  Nonetheless, several other holes returned excellent indications of high gold and silver grades as presented in the table below.

"We are encouraged by the continuation of mineralization to the southeast of our mine workings, with the Plateros vein locally exhibiting very high grades, particularly in gold," stated Robert Archer, President & CEO.  "The results of our exploration drilling have given us sufficient confidence to commence drifting in that direction to further evaluate and delineate these zones from underground."

The surface exploration drilling program began in October 2016 and comprised 32 holes for 7,464 metres to April 24th 2107, at a horizontal and vertical spacing of approximately 50 metres.  Hole ESI16-174 was drilled approximately 400 metres grid south of the current mine workings and step out drilling continued sporadically along strike for another 900 metres.  Drilling has now changed focus to the Purisima vein, approximately 650 metres to the west of the current mine workings.

Highlights of Initial Phase of 2016-17 San Ignacio Surface Exploration Drilling

Hole

 

From
(m)

To
(m)

Width
(m)

True
Width
(m)

Au g/t

Ag g/t

Ag eq g/t
(70:1)

Vein

ESI16-160

 

51.00

51.80

0.80

0.80

2.41

34

203

Melladito I

 

76.20

76.70

0.50

0.47

1.86

340

470

San Pedro II

                   

ESI16-161

 

66.65

70.08

3.43

0.48

1.30

130

220

Melladito

including

67.15

68.15

1.00

0.14

2.49

195

369

 

89.10

93.00

3.90

2.99

2.18

100

252

Melladito I

including

90.80

93.00

2.20

1.68

3.68

160

418

 
                   

ESI16-162

 

63.70

64.70

1.00

1.00

1.08

333

409

Melladito

 

64.70

67.00

2.30

2.30

old stope on Melladito

 

67.00

68.93

1.93

1.90

0.70

180

229

 

193.90

194.40

0.50

0.43

0.24

260

277

San Pedro IV

                   

ESI16-163

 

123.12

124.22

1.10

0.78

9.95

783

1480

Melladito

 

126.75

127.25

0.50

0.35

5.61

142

535

Melladito I

                   

ESI16-164

 

176.20

180.40

4.20

3.68

1.51

194

300

Melladito

including

179.34

180.40

1.06

0.91

5.87

672

1083

 

184.59

185.65

1.06

0.92

5.50

139

524

Melladito I

 

189.35

190.44

1.09

0.83

8.41

127

716

San Pedro III

including

189.35

189.88

0.53

0.41

15.91

202

1316

 
                   

ESI16-165

 

120.10

121.73

1.63

1.25

0.33

194

217

Melladito

                   

ESI16-166

 

216.04

216.84

0.80

0.73

1.45

360

462

Plateros

                   

ESI16-167

 

210.00

211.72

1.72

1.69

0.82

231

289

Plateros

 

291.60

299.72

8.12

6.65

2.54

18

196

Melladito II

including

291.60

295.14

3.54

2.90

4.04

22

305

 

also including

298.10

299.72

1.62

1.33

3.44

41

282

 
                   

ESI16-168

 

221.45

223.79

2.34

2.03

10.77

278

1032

Plateros

including

221.98

223.79

1.81

1.57

13.90

356

1329

                   

ESI16-171

 

189.00

190.14

1.14

0.87

1.18

800

883

Plateros

                   

ESI16-172

 

132.25

132.75

0.50

0.25

2.17

140

292

Melladito

 

140.20

144.09

3.89

2.75

2.04

67

210

Melladito I

including

140.20

141.53

1.33

0.94

3.79

115

380

 

also including

143.57

144.09

0.52

0.37

5.07

188

543

 
 

156.40

156.97

0.57

0.28

3.45

16

258

San Pedro II

 

165.85

166.85

1.00

0.42

2.05

92

236

San Pedro III

                   

ESI16-174

 

92.86

100.10

7.24

4.65

4.81

275

612

Melladito /

Melladito I

including

95.00

100.10

5.10

3.28

6.78

383

858

including

97.62

100.10

2.48

2.55

14.32

475

1477

 

100.10

122.80

22.70

14.59

6.86

257

737

Plateros

including

105.00

116.45

11.45

7.36

10.41

322

1051

 
                   

ESI17-175

 

96.85

97.68

0.83

0.64

3.42

474

713

Melladito I

                   

ESI17-176

 

146.10

147.40

1.30

0.75

16.34

1059

2203

Plateros

                   

ESI17-177

 

147.85

154.65

6.80

3.40

1.86

206

337

Plateros

including

152.10

153.83

1.73

0.87

5.10

497

854

                   

ESI17-179

 

172.66

177.10

4.44

3.85

0.84

112

171

Plateros

 

228.41

229.78

1.37

0.69

2.10

58

205

San Pedro II

 

248.77

249.48

0.71

0.36

3.14

23

243

San Pedro III

                   

ESI17-180

 

202.90

206.28

3.38

2.77

0.93

81

146

Melladito I

 

208.15

208.65

0.50

0.45

0.32

28

50

San Pedro II

 

214.10

214.60

0.50

0.45

0.35

418

443

San Pedro III

                   

ESI17-181

 

208.75

216.03

7.28

5.41

0.92

206

271

Melladito /

Melladito I

                   

ESI17-182

 

255.95

257.11

1.16

0.86

3.79

140

405

Melladito

 

258.06

259.93

1.87

1.43

2.22

78

233

Melladito I

                   

ESI17-183

 

254.43

257.84

3.41

2.72

2.76

47

240

Melladito /

Melladito I

                   

ESI17-184

 

208.03

209.92

1.89

1.64

1.02

184

255

Melladito /

Melladito I

 

214.04

216.14

2.10

1.48

1.26

148

236

San Pedro III

                   

ESI17-186

 

254.05

256.35

2.30

1.81

4.26

97

396

Melladito /

Melladito I

 

257.73

259.1

1.37

1.21

1.56

93

202

San Pedro II

 

259.61

260.4

0.79

0.72

1.83

153

281

San Pedro III

                   

ESI17-187

 

148.60

149.33

0.73

0.56

3.18

223

446

Plateros

 

200.25

207.82

7.57

3.67

5.60

127

519

Melladito /

Melladito I

including

201.18

204.43

3.25

1.63

9.46

135

797

 

also including

204.93

205.43

0.50

0.25

9.61

330

1003

 
                   

ESI17-189

 

215.09

219.41

4.32

1.83

11.05

160

933

Melladito /

Melladito I

 

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-GTO lab in Guanajuato, GTO, Mexico.  Silver assaying was conducted with AAS12B technique, with over-limits (150g/t) completed by FAG323.  Gold assaying was conducted with FAA313 technique, with over-limits (10g/t) completed by FAG323.

The technical information contained in this news release has been reviewed and approved by Robert F. Brown, P. Eng., who is the Qualified Person (QP) for the GMC under the meaning of NI 43-101.  Aspects relating to mining and metallurgy are overseen by Ali Soltani, Chief Operating Officer for Great Panther.

ABOUT GREAT PANTHER

Great Panther Silver Limited is a primary silver mining and exploration company listed on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE MKT trading under the symbol GPL.  Great Panther's current activities are focused on the mining of precious metals from its two wholly-owned operating mines in Mexico: the Guanajuato Mine Complex, which includes the San Ignacio Mine; and the Topia Mine in Durango.  In addition, the Company has signed an agreement to acquire a 100% interest in the Coricancha Mine Complex in the central Andes of Peru and is pursuing additional mining opportunities in the Americas.

Robert Archer
President & CEO

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, "forward-looking statements").  Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different.  Such forward-looking statements include, but are not limited to, the Company's plans for production at its Guanajuato and Topia Mine in Mexico, including plans for drilling and resource delineation and the overall economic potential of its properties.  These involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different.  These include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production cost estimates and the potential for unexpected costs and expenses, operating or technical difficulties in mineral exploration, development and mining activities, physical risks and hazards inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, exploration results being indicative of future production of its properties, changes in project parameters as plans continue to be refined, the speculative nature of mineral exploration and development, permitting risks, and other risks and uncertainties, including those described in the Company's most recently filed Annual Information Form and Material Change Reports filed with the Canadian Securities Administrators available at www.sedar.com and reports on Form 40-F and Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov.

 

SOURCE Great Panther Silver Limited

Spiros Cacos, Director Investor Relations, Toll free: 1 888 355 1766, Tel: 1 604 638 8955, scacos@greatpanther.com, www.greatpanther.com
 

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