Month: August 2021

MAG Silver Corp. is pleased to report results from 2020 drilling on the Juanicipio Project (56% / 44% joint venture between Fresnillo plc. A total of 33 surface holes (27,900 metres) and 77 underground definition holes (11,800 m) were completed with the primary objectives of: infilling and expanding the Valdecañas Deep Zone to optimise its extraction; and definition drilling of the upper high-grade Valdecañas Bonanza Zone where test mining has already begun and the focus for the first several years of mining in this area.

“The El Oro district is a well-known mining district with over 8 million ounces of gold equivalent produced from only 2 of over 50 known veins,” says Joanne Freeze, President and CEO of Xali Gold. “There is huge potential in the area, and we’ve identified some new drill targets to test some of the other underexplored veins.”

“Drilling on the eastern side of El Refugio extends the high-grade gold and silver 80 metres east. The broad, high-grade intercepts provide a significant boost to the resource potential in this part of El Refugio. Additionally, a program of deep holes proximal to the bonanza grade intercept of hole CDH-077 has commenced consisting of 6 holes to fill the area up and down dip of the intercept and to the west. The first of these holes is complete, with gold and silver sulphide mineralisation observations consistent with previous El Refugio structure intercepts.”

N. Eric Fier, CPG, P.Eng, and CEO, stated, “Las Chispas mine construction is currently on time and budget based on several activities including our early decision to implement strict company-wide COVID-19 protocols and build a confined construction camp, which has reduced risks and benefited the Project’s overall schedule. This approach has allowed us to see better productivity than anticipated and limited disruption in our work schedules and supply chains.”