Great Panther Silver Limited
Fastest growing primary silver producer in Mexico.
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GREAT PANTHER RESOURCES LIMITED (TSX: GPR) wishes to provide the following update on the NI43-101 resource estimates being prepared for the Company by Wardrop Engineering (Wardrop) of Vancouver, B.C.
Wardrop has now delivered preliminary numbers for an updated NI 43-101 compliant resource estimate for the La Gloria and Las Palmitas Zones on the Mapimi Project in northeastern Durango State, Mexico. The new estimate includes the twenty-nine core holes, representing 6,298 metres, completed during Great Panther's Phase I drilling program in the first half of 2007. In the current estimate, Wardrop has used different parameters than in the previous resource, estimated in 2006 from the 1997-98 reverse circulation and core drilling of Coeur d'Alene Mines Corp., and has changed portions of the geological interpretation. As such, the Company is reviewing the new estimate with Wardrop personnel. It is anticipated that this process could take several weeks.
The resource update for the Topia Mine will include certain drilling and underground sampling by Great Panther conducted since the 2006 resource estimate but will need to account for any material mined out of the 2006 resource. Wardrop has informed the Company that the new estimate is now expected in late February / early March.
In addition, a second drill is being added to the deep underground drilling program at Great Panther's Guanajuato Mine, where initial drilling and underground development have encountered strong silver-gold mineralization. The second drill will speed up the delineation of a new deep resource where there has been no previous mining. It is the Company's objective to have the first NI43-101 resource estimate for this area by the end of 2008.
Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther and its wholly owned subsidiary, Minera Mexicana El Rosario, S.A. de C.V., is designated as the Qualified Person for the Mapimi Project, and the Topia and Guanajuato Mines under the meaning of NI 43-101 and has reviewed this news release.
For further information please contact Brad Aelicks or Don Mosher at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.
ON BEHALF OF THE BOARD
"Robert A. Archer"
Robert A. Archer, President & CEO
Wardrop has now delivered preliminary numbers for an updated NI 43-101 compliant resource estimate for the La Gloria and Las Palmitas Zones on the Mapimi Project in northeastern Durango State, Mexico. The new estimate includes the twenty-nine core holes, representing 6,298 metres, completed during Great Panther's Phase I drilling program in the first half of 2007. In the current estimate, Wardrop has used different parameters than in the previous resource, estimated in 2006 from the 1997-98 reverse circulation and core drilling of Coeur d'Alene Mines Corp., and has changed portions of the geological interpretation. As such, the Company is reviewing the new estimate with Wardrop personnel. It is anticipated that this process could take several weeks.
The resource update for the Topia Mine will include certain drilling and underground sampling by Great Panther conducted since the 2006 resource estimate but will need to account for any material mined out of the 2006 resource. Wardrop has informed the Company that the new estimate is now expected in late February / early March.
In addition, a second drill is being added to the deep underground drilling program at Great Panther's Guanajuato Mine, where initial drilling and underground development have encountered strong silver-gold mineralization. The second drill will speed up the delineation of a new deep resource where there has been no previous mining. It is the Company's objective to have the first NI43-101 resource estimate for this area by the end of 2008.
Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther and its wholly owned subsidiary, Minera Mexicana El Rosario, S.A. de C.V., is designated as the Qualified Person for the Mapimi Project, and the Topia and Guanajuato Mines under the meaning of NI 43-101 and has reviewed this news release.
For further information please contact Brad Aelicks or Don Mosher at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.
ON BEHALF OF THE BOARD
"Robert A. Archer"
Robert A. Archer, President & CEO
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