Gatos Silver Reports Positive Third Quarter Exploration Results Including Mineralized Intercepts on the Central Deeps Target at Cerro Los Gatos
Gatos Silver (NYSE/TSX: GATO) reported positive Q3 2024 exploration results at its 70%-owned Los Gatos district in Mexico. Key highlights include:
1. Discovery of a new mineralization zone in the Central Deeps target at Cerro Los Gatos (CLG) mine, with intercepts up to 5.9m at 126 g/t Ag, 15.82% Zn, 5.46% Pb.
2. Continued extension of the South-East Deeps zone at CLG, with intercepts up to 9.5m at 101 g/t Ag, 11.11% Zn, 5.49% Pb.
3. Ongoing regional exploration at Portigueño, San Luis, Lince, and Los Veranos targets.
The results suggest potential for further life extension at CLG beyond the recently announced mine life to 2032. Drilling continues in priority areas, with plans to start drilling at Lince in Q4 2024.
Gatos Silver (NYSE/TSX: GATO) ha riportato risultati positivi per il terzo trimestre del 2024 riguardo le esplorazioni nel distretto di Los Gatos in Messico, di cui detiene il 70%. I punti salienti includono:
1. Scoperta di una nuova zona di mineralizzazione nell'obiettivo Central Deeps presso la miniera Cerro Los Gatos (CLG), con intercettazioni fino a 5.9 m a 126 g/t Ag, 15.82% Zn, 5.46% Pb.
2. Estensione continua della zona South-East Deeps presso CLG, con intercettazioni fino a 9.5 m a 101 g/t Ag, 11.11% Zn, 5.49% Pb.
3. Esplorazione regionale in corso presso i target Portigueño, San Luis, Lince e Los Veranos.
I risultati suggeriscono un potenziale prolungamento della vita utile della miniera presso CLG oltre quella recentemente annunciata fino al 2032. I sondaggi continuano nelle aree prioritarie, con piani di avviare le perforazioni a Lince nel quarto trimestre del 2024.
Gatos Silver (NYSE/TSX: GATO) reportó resultados positivos de exploración en el tercer trimestre de 2024 en su distrito de Los Gatos en México, donde posee el 70%. Los puntos clave incluyen:
1. Descubrimiento de una nueva zona de mineralización en el objetivo Central Deeps en la mina Cerro Los Gatos (CLG), con intercepciones de hasta 5.9 m a 126 g/t Ag, 15.82% Zn, 5.46% Pb.
2. Extensión continua de la zona South-East Deeps en CLG, con intercepciones de hasta 9.5 m a 101 g/t Ag, 11.11% Zn, 5.49% Pb.
3. Exploración regional en curso en los objetivos Portigueño, San Luis, Lince y Los Veranos.
Los resultados sugieren un potencial de prolongación de la vida útil en CLG más allá de la vida de mina recientemente anunciada hasta el 2032. La perforación continúa en áreas prioritarias, con planes de comenzar a perforar en Lince en el cuarto trimestre de 2024.
Gatos Silver (NYSE/TSX: GATO)는 멕시코 Los Gatos 지역에서 70% 소유한 탐사 결과를 2024년 3분기에 긍정적으로 보고했습니다. 주요 하이라이트는 다음과 같습니다:
1. Cerro Los Gatos (CLG) 광산의 Central Deeps 목표에서 새로운 광물화 구역을 발견하였으며, 최대 5.9m에서 126 g/t Ag, 15.82% Zn, 5.46% Pb의 간섭값을 기록했습니다.
2. CLG에서 South-East Deeps 구역의 지속적인 확장을 위해 최대 9.5m에서 101 g/t Ag, 11.11% Zn, 5.49% Pb의 간섭값을 기록했습니다.
3. Portigueño, San Luis, Lince 및 Los Veranos 목표에 대한 지역 탐사 진행 중입니다.
결과는 최근 발표된 2032년까지의 광산 수명 외에 CLG의 추가적인 수명 연장의 잠재력을 시사합니다. 우선 지역에서의 시추가 계속 진행되고 있으며, 2024년 4분기 Lince에서 시추를 시작할 계획입니다.
Gatos Silver (NYSE/TSX: GATO) a annoncé des résultats d'exploration positifs pour le troisième trimestre 2024 dans son district de Los Gatos au Mexique, dont il détient 70 %. Les points clés comprennent :
1. Découverte d'une nouvelle zone de minéralisation dans l'objectif Central Deeps à la mine Cerro Los Gatos (CLG), avec des interceptions allant jusqu'à 5,9 m à 126 g/t Ag, 15,82 % Zn, 5,46 % Pb.
2. Extension continue de la zone South-East Deeps à CLG, avec des interceptions allant jusqu'à 9,5 m à 101 g/t Ag, 11,11 % Zn, 5,49 % Pb.
3. Exploration régionale en cours aux cibles Portigueño, San Luis, Lince et Los Veranos.
Les résultats suggèrent un potentiel d'extension de la durée de vie de la mine à CLG au-delà de la durée de vie récemment annoncée jusqu'en 2032. Le forage se poursuit dans les zones prioritaires, avec des projets de commencer les forages à Lince au quatrième trimestre 2024.
Gatos Silver (NYSE/TSX: GATO) hat positive Ergebnisse für die Erkundung im dritten Quartal 2024 im von ihm zu 70% gehaltenen Los Gatos Gebiet in Mexiko berichtet. Wichtige Highlights sind:
1. Entdeckung einer neuen Mineralisierungszone im Ziel Central Deeps in der Cerro Los Gatos (CLG) Mine mit Interzepten von bis zu 5,9 m bei 126 g/t Ag, 15,82% Zn, 5,46% Pb.
2. Fortlaufende Erweiterung der South-East Deeps Zone bei CLG mit Interzepten von bis zu 9,5 m bei 101 g/t Ag, 11,11% Zn, 5,49% Pb.
3. Laufende regionale Erkundungen an den Zielen Portigueño, San Luis, Lince und Los Veranos.
Die Ergebnisse deuten auf ein Potenzial für eine weitere Lebensverlängerung bei CLG über die kürzlich angekündigte Lebensdauer bis 2032 hinaus hin. Das Bohren geht in prioritären Bereichen weiter, mit Plänen, im vierten Quartal 2024 mit dem Bohren bei Lince zu beginnen.
- Discovery of new mineralization zone in Central Deeps target at CLG, with significant intercepts
- Continued extension of South-East Deeps zone at CLG, indicating further resource potential
- Positive early results from Central Deeps drilling, with all three initial holes intersecting mineralization
- Potential for mine life extension beyond 2032 at CLG
- Ongoing regional exploration program advancing multiple targets across the Los Gatos district
- No economic mineralization intersected in Portigueño target drilling
- Challenging drilling conditions encountered in San Luis target, limiting ability to reach planned depths
Insights
The exploration results from Gatos Silver's Los Gatos district are promising, particularly the new mineralization discovered in the Central Deeps target. Key highlights include:
- Intercepts of 5.9m at 126 g/t Ag, 15.82% Zn, 5.46% Pb in the Central Deeps, indicating potential vertical extensions up to 175m below current reserves
- Continued mineralization in the South-East Deeps zone, with intercepts like 9.5m at 101 g/t Ag, 11.11% Zn, 5.49% Pb
- Expansion of drilling programs and early-stage exploration across the district
These results suggest potential for extending the mine life beyond the recently announced 2032 end date. The discovery in Central Deeps is particularly significant as it opens up a new 1.0km x 0.5km target area that was previously untested. While early-stage, this could substantially increase the resource base if further drilling confirms continuity.
For investors, this news is positive as it indicates ongoing potential to grow reserves and extend mine life, which could enhance the long-term value of Gatos Silver's assets. However, it's important to note that additional drilling and economic studies will be required to convert these exploration results into reserves.
From a technical perspective, the exploration results are encouraging. The intercepts in the Central Deeps target, particularly 5.0m ETW at 126 g/t Ag, 15.82% Zn, 5.46% Pb, are significant in grade and width. This suggests the potential for economically viable mineralization at depth, which could be accessed through existing mine infrastructure, potentially lowering development costs.
The continued success in the South-East Deeps zone, with intercepts like 7.5m ETW at 101 g/t Ag, 11.11% Zn, 5.49% Pb, demonstrates the zone remains open along strike and down-plunge. This presents opportunities for resource expansion in a known area.
The company's strategic approach to exploration, balancing near-mine targets with district-scale potential, is sound. The focus on the Central Deeps based on early positive results shows adaptability in their exploration program.
While results from Portigueño and San Luis targets were less promising, the company's methodical approach to data integration and follow-up planning is appropriate. The initiation of work at Lince and Los Veranos further diversifies their exploration pipeline.
Overall, these results indicate strong potential for resource growth and mine life extension at Cerro Los Gatos, with additional upside from district-scale exploration.
VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) today provided an update on the drilling and exploration programs in the
“The exploration results this quarter continue to demonstrate further life extension potential at CLG beyond the recently announced mine life that now extends to the end of 2032,” said Dale Andres, CEO of Gatos Silver. “Our first three holes in the Central Deeps target, an area which has never been tested before, hit mineralization. The latest results in the South-East Deeps zone show further extension potential to the south-east of the current mineral reserves in this area. Moreover, we continue to pursue the longer term potential across the broader Los Gatos district, as drilling continued at the Portigueño and San Luis targets and field mapping and target generation continued in the Lince and Los Veranos areas. We expect to start drilling our highest ranked targets at Lince during the fourth quarter.”
Q3 2024 Highlights
- At CLG, step-out exploration drilling in a previously untested area beneath the main Central zone (“Central Deeps”) has discovered a new zone of mineralization located below the 2024 Mineral Reserve, indicating vertical mineralization extensions up to 175m.
- Drilling highlights from this program include (see Table 1 for complete intercept details).
- 5.9m (5.0m estimated true width “ETW”) at 126 g/t Ag,
15.82% Zn,5.46% Pb, 0.14 g/t Au and0.35% Cu (CZ-D-03) - 2.9m (2.8m ETW) at 122 g/t Ag,
9.45% Zn,3.40% Pb, 0.07 g/t Au and0.56% Cu (CZ-D-01)
- 5.9m (5.0m estimated true width “ETW”) at 126 g/t Ag,
- We completed three holes to date, all of which intersected significant mineralization, with two drill rigs now mobilized to continue on this target. We designed the holes to initially test the potential depth extensions of the Central and Northwest zones, and / or a fault-offset to the system, similar to the SE Deeps system. Results of drilling to date have supported the geological concept of significant depth extension potential, while current drilling has stepped even further back into the basin, to test the fault-offset concept.
- Drilling highlights from this program include (see Table 1 for complete intercept details).
- Also at CLG, resource extension drilling in the South-East Deeps (“SE Deeps”) zone continues to intercept additional mineralization along strike and down-plunge, continuing to extend the known mineralized zone. The most significant intercepts are included below (see Table 1 for complete intercept details).
- 9.5m (7.5m ETW) at 101 g/t Ag,
11.11% Zn,5.49% Pb, 0.20 g/t Au and0.17% Cu (SE-604) - 4.0m (3.3m ETW) at 153 g/t Ag,
17.45% Zn,6.60% Pb, 0.28 g/t Au and0.08% Cu (SE-DV-606)
- 9.5m (7.5m ETW) at 101 g/t Ag,
- We focused exploration drilling on CLG’s Central Deeps and SE Deeps (see Table 1 for complete intercept details), and the broader district’s Portigueño and San Luis zones (see Table 2 for complete intercept details), while the team remained active with early-stage generative work at Lince and Los Veranos in the broader district. We drilled five holes in Portigueño to complete the first phase of exploratory drilling, and the program will now enter a data modeling stage to compile the geologically interesting results, which will be used to define a follow up drill campaign. We completed three holes in the San Luis target, exploring the strike potential of the structure intersected in the previously reported first two holes (see press release of Q2 results dated July 23, 2024). We field mapped and sampled a new area at Los Veranos after the discovery of a new structural corridor that might be interpreted as an extension of the main basin bounding fault that hosts the CLG deposit. In addition, early-stage work including mapping, surveying, reconnaissance and surface sampling continues in the district, with a view to further target identification and ranking.
CLG South-East Deeps Resource Extension Drilling
The SE Deeps mineralization extends approximately 1km laterally and 400m vertically and remains open along strike. With the successful increase in SE Deeps mineral reserves for the 2024 mineral reserve and resource update, the drilling shifted back towards resource extension drilling in the second quarter and continued to advance in the third quarter. Drill results continued to demonstrate the extension potential of this zone, with intersections extending mineralization along plunge to the SE.
Figure 1: Long section of CLG1 showing SE resource extension drilling intercepts, and Central Deeps intercept data received since our press release dated July 23, 2024. See Table 1 for complete intercept details including true width estimates (ETW).2
Figure 2: Long section of CLG1 showing SE resource extension drilling intercept locations received since our press release dated July 23, 2024. See Table 1 for complete intercept details including true width estimates (ETW).2
1 The 2024 Mineral Reserve and 2024 Mineral Resource is disclosed in the Press Release announced September 25, 2024 and available on the Company’s website (https://gatossilver.com). A corresponding technical report will also be filed with the SEC and on SEDAR+ within 45 days of the Press Release.
2 See press release dated July 23, 2024 for further information relating to the other previously reported SE Deeps drill intercepts received since the 2024 resource database cutoff date of March 31, 2024.
Figure 3: Cross-section through SE Deeps at drillhole SE-604 and SE-DV-606, and SE-607 and SE-608 showing intercepts. See Table 1 for complete intercept details including true width estimates (ETW).
Figure 4: Cross-section through SE Deeps at drillhole SE-609 showing intercepts. See Table 1 for complete intercept details including true width estimates (ETW).
CLG Central Deeps Extension / Fault Offset Target
The Central Deeps target (shown in Figure 5) sits immediately below the CLG mine current infrastructure, and is interpreted to present an area of potential for deeper extensions of the Central and NW zones, along with the potential for a fault-offset portion of this mineralization, similar to the SE Deeps zone. The area had been previously untested, and as reported in our Q2 2024 press release dated July 23, 2024, we initiated a geological framework hole in the area to test our geological concept of the possible extension and fault-offset.
We completed our first hole to 1,200m as planned, and successfully intercepted mineralization opening up a target area of at least 1.0km (strike) x 0.5km (depth), while also capturing important geological information to assist in our lithological and structural modeling of the area. Based on the results of the first hole, we designed an additional two holes and added a second rig to the program as we elevated our prioritization of this program.
Our second hole was drilled on the same section line as the first hole, attempting to confirm up-dip continuity. The mineralized structure at this location was narrower (1.3m drilled or 1.2m ETW) than the intersection in our first hole, but the results indicate sulphide mineralization is present in the system and remains open up-dip.
Our third hole was designed to target mineralization back towards the SE, stepping ~250m from holes 1 and 2. This hole intersected our most significant mineralization in the zone of the three holes, intersecting 5.0m ETW of strong mineralization of 126 g/t Ag,
Additional drilling will be conducted in Q4 2024 to test for additional extension potential of the zone, infilling within the area defined by the first three holes, along with larger step out holes to the NW to test below the NW zone and back into the basin to test the fault-offset concept.
Figure 5: Long section of CLG1 showing CLG Central Deeps drilling intercepts received since our press release dated July 23, 2024. See Table 1 for complete intercept details including true width estimates (ETW).2
1 The 2024 Mineral Reserve and 2024 Mineral Resource is disclosed in the Press Release announced September 25, 2024 and available on the Company’s website (https://gatossilver.com). A corresponding technical report will also be filed with the SEC and on SEDAR+ within 45 days of the Press Release.
2 See press release dated July 23, 2024 for further information relating to the other previously reported SE Deeps drill intercepts received since the 2024 resource database cutoff date of March 31, 2024.
Figure 6: Cross-section through Central Deeps target at drillhole GA-CZ-D-01 and 02 showing intercepts. See Table 1 for complete intercept details including true width estimates (ETW).
Figure 7: Cross-section through Central Deeps target at drillhole GA-CZ-D-03 showing intercepts. See Table 1 for complete intercept details including true width estimates (ETW).
Los Gatos District Exploration Update: Current Near-mine Focus Plus District Scale Potential
The LGD is comprised of a large land package covering over 103,000 hectares with an established pipeline of prospects and more than 50 targets identified to date. We continue to execute on our strategy to prioritize and expedite work on our top-ranked target areas for drilling. Field mapping, drone image surveys and geochemical sampling programs continue to add new targets to the pipeline.
Portigueño Target
The Portigueño area is located approximately 2km southeast of CLG (see Figure 8). We completed our preliminary exploratory drill program towards the end of the third quarter, and then mobilized the drill rig to the CLG Central Deeps target, which we elevated in priority based on early results. We drilled five additional holes in the target, with the results of four of the holes obtained during the quarter. Drilling continued to define a structurally complex corridor, with strong alteration and anomalous mineralization, however, no economic mineralization was intersected.
The program will now enter a data integration, interpretation and modeling stage, with the objective of defining a preliminary 3D geological model towards the end of this year. These models will be used to define a follow up program on the most favourable structures.
San Luis Target
The San Luis area is located approximately 4.5km northwest of CLG along the Los Gatos fault (see Figure 8). Drilling continued with one rig on the San Luis target. After analyzing results of the previously reported first two holes, we stepped the rig ~50m SE along the main Los Gatos structural corridor for our third hole, testing southeast strike extension potential of the zone in the first two holes. Drilling intersected the first targeted structure as expected, but at a depth where veining was mostly calcite with no mineralization. The hole intersected highly fractured ground, and was unable to proceed to planned depth to intersect the potential second structure. We abandoned the hole and recollared as SL-24-03a in an attempt to reach the second structure target, but abandoned the recollared hole as well due to challenging drilling conditions.
We then moved the rig ~420m SE along the main Los Gatos fault structural corridor, to attempt a large step out and again test the strike potential of the Los Gatos fault corridor. The drilling again was successful in intersecting the target, a little further downhole than planned, indicating a steepening of the dip from the projected orientation. However, the intersection again presented as a calcite dominate vein with no anomalous mineralization.
Drilling will continue in Q4 2024 and is proposed to now step to the NW of the intersections in the first two holes, as we test the strike and depth potential along this interesting corridor that has shown extensive alteration, structural complexity, along with elevated zones of mineralization (see our press release dated July 23, 2024).
Early-Stage District Mapping and Target Readiness
In addition to the expanded greenfields drilling programs, the team remains very active in the field conducting early-stage generative exploration work. Drone survey data at Los Veranos (~18km SE of CLG) was available for review and interpretation, indicating an area of extensive historical workings (shafts). We initiated detailed mapping within the area, combined with a surface sampling campaign. The historical workings and mapping have indicated a strong structural lineament coinciding with the basin margin along the same trend as CLG. Mapping and sampling will continue in the area, and we expect results from the surface sampling program in early Q4, allowing for additional ranking and prioritization of potential target zones within the broader district.
Work progressed in the third quarter of 2024 to advance to applications for drill permitting at Lince (~20Km NW of CLG), and we now expect to be drilling by mid-Q4 2024. We defined several outcropping veins and structures, and will initiate the drill program on the highest ranked targets, along with one or two geological framework holes to define the stratigraphy within the area.
Additional reconnaissance work continues within the LGD land package, as we continue to explore for additional target areas within the property (see Figure 9 below for locations at Lince and Los Veranos).
Figure 8: Plan view of near-mine prospects, select high-priority drill targets and drillholes from Q3 2024 in SE Deeps, Central Deeps, Portigueño and San Luis Targets
Figure 9: Plan view of the Los Gatos district with select prospects and high priority drill targets.
Table 1: SE Deeps Resource Extension and Central Deeps Exploration Drilling Results1
| DHID | From | To | Drill Width | ETW | Ag | Zn | Pb | Au | Cu | |
| m | m | m | m | g/t | % | % | g/t | % | ||
| GA-SE-604 | 882.0 | 891.5 | 9.5 | 7.5 | 101 | 11.11 | 5.49 | 0.20 | 0.17 | |
| GA-SE-604 | including | 882.0 | 885.0 | 3.0 | 2.4 | 163 | 17.00 | 11.56 | 0.24 | 0.20 |
| GA-SE-604 | and including | 888.0 | 890.0 | 2.0 | 1.7 | 165 | 17.95 | 6.36 | 0.09 | 0.40 |
| GA-SE-604 | and | 966.0 | 967.6 | 1.6 | 1.3 | 65 | 4.97 | 2.86 | 0.04 | 0.06 |
| GA-SE-605 | NSV | |||||||||
| GA-SE-DV-606 | 847.5 | 851.5 | 4.0 | 3.3 | 153 | 17.45 | 6.60 | 0.28 | 0.08 | |
| GA-SE-DV-606 | including | 849.5 | 851.5 | 2.0 | 1.7 | 197 | 17.30 | 9.20 | 0.27 | 0.11 |
| GA-SE-DV-606 | and | 931.8 | 935.0 | 3.2 | 2.8 | 40 | 3.05 | 0.67 | 0.03 | 0.22 |
| GA-SE-607 | 696.0 | 697.5 | 1.5 | 1.3 | 151 | 3.77 | 2.97 | 0.57 | 0.09 | |
| GA-SE-607 | and | 730.5 | 738.0 | 7.5 | 6.5 | 47 | 2.37 | 1.06 | 0.04 | 0.26 |
| GA-SE-607 | including | 733.5 | 735.0 | 1.5 | 1.3 | 73 | 7.63 | 1.91 | 0.06 | 0.30 |
| GA-SE-608 | 721.0 | 726.0 | 5.0 | 4.5 | 88 | 3.23 | 1.75 | 0.09 | 0.52 | |
| GA-SE-608 | including | 723.0 | 724.5 | 1.5 | 1.2 | 189 | 2.12 | 3.15 | 0.10 | 0.13 |
| GA-SE-609 | 768.0 | 777.0 | 9.0 | 7.8 | 90 | 5.83 | 4.86 | 0.17 | 0.14 | |
| GA-SE-609 | including | 768.0 | 769.5 | 1.5 | 1.2 | 238 | 10.50 | 12.25 | 0.11 | 0.25 |
| GA-SE-609 | and | 821.0 | 827.0 | 5.0 | 4.4 | 55 | 1.65 | 3.43 | 0.20 | 0.37 |
| GA-SE-609 | including | 825.0 | 827.0 | 2.0 | 1.7 | 52 | 2.14 | 7.80 | 0.19 | 0.13 |
| GA-CZ-D-01 | 945.4 | 948.3 | 2.9 | 2.8 | 122 | 9.45 | 3.40 | 0.07 | 0.56 | |
| GA-CZ-D-01 | including | 945.4 | 946.8 | 1.5 | 1.4 | 205 | 10.00 | 5.45 | 0.03 | 0.80 |
| GA-CZ-D-02 | 668.3 | 669.5 | 1.3 | 1.2 | 76 | 4.31 | 2.21 | 0.27 | 0.92 | |
| GA-CZ-D-02 | including | 668.3 | 668.9 | 0.6 | 0.6 | 126 | 7.90 | 3.88 | 0.18 | 0.98 |
| GA-CZ-D-03 | 591.8 | 597.7 | 5.9 | 5.0 | 126 | 15.82 | 5.46 | 0.14 | 0.35 | |
| GA-CZ-D-03 | including | 591.8 | 595.8 | 4.0 | 3.5 | 153 | 19.90 | 6.55 | 0.06 | 0.40 |
| GA-CZ-D-03 | and including | 597.2 | 597.7 | 0.5 | 0.3 | 203 | 19.65 | 10.45 | 1.04 | 0.37 |
1 Received since our press release dated July 23, 2024 (see the Company’s press release dated July 23, 2024).
Table 2: Greenfield District Exploration Drilling Results1
| DHID | From | To | Drill Width | ETW | Ag | Zn | Pb | Au | Cu | |
| m | m | m | m | g/t | % | % | g/t | % | ||
| DDH-PO-08 | NSV | |||||||||
| DDH-PO-08A | NSV | |||||||||
| DDH-PO-09 | 611.8 | 613.2 | 1.4 | 1.1 | 5 | 0.04 | 0.03 | 2.03 | 0.003 | |
| DDH-PO-10 | NSV | |||||||||
| SL-24-03 | NSV | |||||||||
| SL-24-03A | NSV | |||||||||
| SL-24-04 | NSV |
1 Intercepts shown are anomalous and geologically significant but are below current NSR x thickness cutoff for CLG.
Table 3: Drillhole Locations
| Drillhole | Target | Easting | Northing | Elevation | Azimuth | Dip | Hole Depth |
| DDH-PO-08 | Greenfields Exploration | 370,872 | 3,045,533 | 1,546 | 236 | -45 | 426 |
| DDH-PO-08A | Greenfields Exploration | 370,873 | 3,045,531 | 1,545 | 236 | -45 | 498 |
| DDH-PO-09 | Greenfields Exploration | 370,655 | 3,045,623 | 1,557 | 273 | -68 | 918 |
| DDH-PO-10 | Greenfields Exploration | 370,656 | 3,045,621 | 1,557 | 214 | -52 | 876 |
| GA-CZ-D-01 | Brownfields Exploration | 369,083 | 3,048,336 | 1,628 | 220 | -45 | 1,200 |
| GA-CZ-D-02 | Brownfields Exploration | 368,840 | 3,048,019 | 1,644 | 220 | -57 | 1,065 |
| GA-CZ-D-03 | Brownfields Exploration | 368,965 | 3,047,807 | 1,639 | 220 | -68 | 789 |
| GA-SE-604 | Resource Extension | 370,200 | 3,047,296 | 1,595 | 226 | -58 | 984 |
| GA-SE-605 | Resource Extension | 370,229 | 3,047,178 | 1,584 | 227 | -56 | 909 |
| GA-SE-607 | Resource Extension | 370,001 | 3,047,236 | 1,588 | 221 | -55 | 780 |
| GA-SE-608 | Resource Extension | 370,001 | 3,047,236 | 1,588 | 221 | -53 | 747 |
| GA-SE-609 | Resource Extension | 370,052 | 3,047,331 | 1,575 | 224 | -53 | 849 |
| GA-SE-DV-606 | Resource Extension | 370,200 | 3,047,296 | 1,595 | 226 | -58 | 960 |
| SL-24-03 | Greenfields Exploration | 366,237 | 3,050,708 | 1,671 | 219 | -45 | 568 |
| SL-24-03A | Greenfields Exploration | 366,237 | 3,050,708 | 1,671 | 213 | -45 | 792 |
| SL-24-04 | Greenfields Exploration | 366,491 | 3,050,377 | 1,655 | 230 | -60 | 728 |
About Gatos Silver
Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. As a
On September 5, 2024 Gatos Silver and First Majestic Silver Corp. (“First Majestic”) announced they entered into a definitive merger agreement pursuant to which First Majestic will acquire all of the issued and outstanding common shares of Gatos Silver. The proposed transaction would consolidate three world-class, producing silver mining districts in Mexico to create a leading intermediate primary silver producer. Information relating to the proposed transaction can be found at the Company’s website at www.gatossilver.com.
Quality Assurance/Quality Control
The half core samples from the LGJV’s surface exploration drillholes are shipped directly in sealed bags to the ALS Limited (“ALS”) preparation facilities in Chihuahua City, Mexico. After sample preparation in Chihuahua, sample pulps are shipped to ALS in North Vancouver, Canada for analysis. The remaining half core is retained on site. Samples sent for analysis are sawn half-core NQ or HQ in diameter and normally 2m in length but varied based on geological contacts. Samples are prepared using a method whereby the entire sample is crushed, and a subset is pulverized. Samples are analyzed for base metals and silver using inductively coupled plasma methods. Gold and overlimit silver are assayed using fire assay techniques. Sample batches include intermittent blanks, duplicates, and certified standards. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. ALS is a third-party independent laboratory.
Qualified Person
Scientific and technical disclosure in this press release was approved by Chad Yuhasz, P.Geo., Vice President of Exploration and Technical Services of Gatos Silver who is a “Qualified Person” as defined in S-K 1300 and NI 43-101.
Qualification Regarding Exploration and Drilling Results
Any statements herein regarding ranges of potential tonnage and grade or quality of any exploration target are conceptual in nature, there has been insufficient exploration of the relevant properties to estimate a mineral resource; it is uncertain whether further exploration will result in the estimation of a mineral resource; and any exploration target therefore does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve (mineral resource and mineral reserve estimates are stated exclusively in the Los Gatos Technical Report).
Forward-Looking Statements
This press release contains statements that constitute “forward looking information” and “forward-looking statements” within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding exploration or development programs at the CLG mine or in the Los Gatos district, potential of the SE Deeps and Central Deep zones or the Portigueño, San Luis, Lince or Los Veranos targets, timing of the updated Reserve and Resource technical reports, mine life extension potential, prospects for potential development, future drilling, new high priority targets or zones, economic potential of drilling results, and interpretations of mapping, or of geological, geophysical or geochemical indicators are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements, and such other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release.
Investors and Media Contact
André van Niekerk
Chief Financial Officer
investors@gatossilver.com
(604) 424-0984
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FAQ
What were the key exploration results for Gatos Silver (GATO) in Q3 2024?
How do the Q3 2024 exploration results impact Gatos Silver's (GATO) mine life?
What are the next steps for Gatos Silver's (GATO) exploration program in Q4 2024?
What were the results from Gatos Silver's (GATO) regional exploration efforts in Q3 2024?
