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TSX: GPRNYSE MKT: GPL
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 24(th) 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 To Width True Au g/t Ag g/t Ag eq g/t Vein
(m) (m) (m) Width (70:1)
(m)
--- ---
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 ArcherPresident & 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 includ e, 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 Co mmission and available at www.sec.gov.
SOURCE Great Panther Silver Limited
View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2017/19/c3361.html
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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