Guanajuato Silver Drills 3.19m of 492 g/t AgEq* at Valenciana Mines Complex
Guanajuato Silver has reported significant drilling results from its Valenciana Mines Complex in Mexico. The company completed 679 meters of infill drilling across seven holes at the Cata mine area, and 615 meters of diamond drilling at the Maravillas zone. Notable results include an intercept of 3.19m grading 492 g/t AgEq, including 0.42m of 2808 g/t AgEq at Maravillas. The drilling program focused on the upper vein system of Veta Madre, identifying four main veins: Alto1, Alto2, Alto3, and Alto4. The Maravillas section, despite being centrally located, remains the most under-explored area of the complex.
Guanajuato Silver ha riportato risultati di perforazione significativi dal suo Complesso Minerario Valenciana in Messico. L'azienda ha completato 679 metri di perforazione di riempimento attraverso sette fori nell'area della miniera Cata, e 615 metri di perforazione a diamante nella zona Maravillas. I risultati notevoli includono un'intercettazione di 3,19 m con una legge di 492 g/t AgEq, compreso 0,42 m di 2808 g/t AgEq a Maravillas. Il programma di perforazione si è concentrato sul sistema di vena superiore di Veta Madre, identificando quattro vene principali: Alto1, Alto2, Alto3 e Alto4. La sezione Maravillas, nonostante sia centralmente situata, rimane l'area meno esplorata del complesso.
Guanajuato Silver ha informado resultados de perforación significativos de su Complejo Minero Valenciana en México. La empresa completó 679 metros de perforación de rellenado a través de siete agujeros en el área de la mina Cata, y 615 metros de perforación con diamante en la zona Maravillas. Resultados notables incluyen una interceptación de 3,19 m con una ley de 492 g/t AgEq, incluyendo 0,42 m de 2808 g/t AgEq en Maravillas. El programa de perforación se centró en el sistema de veta superior de Veta Madre, identificando cuatro venas principales: Alto1, Alto2, Alto3 y Alto4. La sección de Maravillas, a pesar de estar ubicada en el centro, sigue siendo la zona menos explorada del complejo.
구아나후아토 실버는 멕시코의 발렌시아나 광산 단지에서 중요한 시추 결과를 보고했습니다. 이 회사는 카타 광산 지역에서 7개 구멍을 통해 679미터의 보강 시추를 완료했으며, 마라빌라 구역에서 615미터의 다이아몬드 시추를 진행했습니다. 주목할 만한 결과에는 3.19m의 차단 구간에서 492 g/t AgEq의 법정이 포함되고, 그중 0.42m는 2808 g/t AgEq로 나타났습니다. 시추 프로그램은 비타 마드레의 상부 광맥 시스템에 집중하여 네 개의 주요 광맥인 알토1, 알토2, 알토3, 알토4를 확인했습니다. 마라빌라 구역은 중앙에 위치해 있지만 여전히 단지에서 가장 탐사되지 않은 지역입니다.
Guanajuato Silver a rapporté des résultats de forage significatifs de son Complexe Minier Valenciana au Mexique. L'entreprise a complété 679 mètres de forage de remplissage à travers sept trous dans la zone de la mine Cata, et 615 mètres de forage diamant dans la zone Maravillas. Parmi les résultats notables, on trouve une interception de 3,19 m avec une teneur de 492 g/t AgEq, y compris 0,42 m de 2808 g/t AgEq à Maravillas. Le programme de forage s'est concentré sur le système de veines supérieures de Veta Madre, identifiant quatre veines principales : Alto1, Alto2, Alto3 et Alto4. La section Maravillas, malgré sa situation centrale, reste la zone la moins explorée du complexe.
Guanajuato Silver hat bedeutende Bohrergebnisse aus seinem Valenciana-Minenkomplex in Mexiko gemeldet. Das Unternehmen hat 679 Meter Auffüllbohrungen in sieben Löchern im Bereich der Cata-Mine und 615 Meter Diamantbohrungen in der Maravillas-Zone abgeschlossen. Hervorzuhebende Ergebnisse umfassen einen Schnitt von 3,19 m mit einem Gehalt von 492 g/t AgEq, einschließlich 0,42 m von 2808 g/t AgEq in Maravillas. Das Bohrprogramm konzentrierte sich auf das obere Adernsystem von Veta Madre und identifizierte vier Hauptadern: Alto1, Alto2, Alto3 und Alto4. Der Abschnitt Maravillas, obwohl zentral gelegen, bleibt der am wenigsten erkundete Bereich des Komplexes.
- High-grade silver equivalent intercept of 2808 g/t AgEq over 0.42m at Maravillas
- Strategic location of Maravillas near existing infrastructure enables minimal development costs
- Identification of four main veins in the Cata mine area expanding resource potential
- historical drilling in the Maravillas section indicates unexplored risks
- Pending assay results for two additional drillholes create uncertainty
~ Result includes 0.42m of 2808 g/t AgEq* ~
VANCOUVER, BC / ACCESSWIRE / November 20, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF), a growing Mexican-based precious metals producer, is pleased to provide an update on its 2024 exploration drilling program at the Valenciana Mines Complex ("VMC") in Guanajuato, Mexico. The Company anticipates providing exploration highlights from its El Pinguico Project and San Ignacio mine located in Guanajuato Mexico, and its Horcon Project located in Jalisco, Mexico, prior to year end.
James Anderson, Chairman & CEO, said, "Our exploration programs continue to align with our production goals as we look to use our exploration successes to support our mid to long-term production growth. The district scale potential of the substantial Veta Madre system in Guanajuato remains the focus of our efforts; we are privileged to have the opportunity to run advanced exploration programs within the heart of one of Mexico's richest silver mining camps."
Guanajuato Mining District Map
*All references in this news release to silver equivalent or AgEq have been calculated using 85:1 gold/silver (Ag/Au).
Valenciana Mines Complex
In Q2, 2024, drilling began at VMC, with a total of 679 meters of infill drilling completed across seven drill holes, using the Company's Ingetrol underground drill rig. These holes were drilled into the upper vein system of Veta Madre, in the Cata mine area. The Cata deposit is located at an inflection point of the Veta Madre structure; in this area, a vein system has been identified with crystalline texture and stockwork, oriented northwest-southeast, parallel to Veta Madre.
Long Section - Valenciana Mines Complex - Cata Area Highlighted
Mining operations at Cata are currently underway at the 667 Stope, which corresponds to the Alto 3 vein of the Veta Madre system. Exploration work at the Valenciana Mines Complex during Q3 2024 focused on two key areas: the evaluation and reinterpretation of stope extensions and the analysis of the historical high-grade pillars along the Veta Madre vein and its associated hanging wall veins; these potential blocks are situated within favorable geological zones. With the drilling of seven holes at the 320 level, four main veins have been identified: Alto1, Alto2, Alto3, and Alto 4. The most significant results from the drilling in this area are as follows:
Cata Diamond Drill Results
Maravillas
The Maravillas section is the most under-explored area of the Valenciana Mines Complex. Despite being located in the exact centre of VMC's 4.2km strike length along Veta Madre, and despite forming the connection between the two most prolific mineralized zones at VMC (the Valenciana and Cata mines), only limited drilling has been conducted at Maravillas over the past two centuries.
Long Section Valenciana Mines Complex - Maravillas Highlighted
Three holes have been drilled into the centrally located Maravillas zone, with the best assay result being 2808 grams per tonne silver-equivalent over a true width of just under one half of a meter, within a true width interval of 3.19m grading 492 gpt AgEq*. The objective of this drilling was to intercept the stockwork in the hanging wall of the Veta Madre vein system; a total of 615 meters of diamond drilling has been concluded. Assay results for the first drill hole (UGM24-001) are posted below; assay results for the two additional drillholes are expected later in Q4. Following this, an analysis will be conducted within the relevant operational areas to develop additional exploration and development plans for this area of VMC. Given the proximity of this area to existing ramps and the main Cata production shaft infrastructure, integrating the Maravillas area into the VMC mine could be completed with minimal additional development.
Carlos Silva, COO, said, "Drilling success in this underexplored area of Valenciana has exciting potential. An assay result of over two kilograms within one of Mexico's most famous and prolific mines is always noteworthy; we will quickly follow up on these initial results."
Maravillas Diamond Drill Results
Drill Collar Information
Sampling and quality assurance/quality control
Drill core was first reviewed by a Company geologist, who identified and marked intervals for sampling. The marked sample intervals were then cut in half with a diamond saw; half of the core was left in the core box and the other half was removed, placed in plastic bags, sealed and labeled. Intervals and unique sample numbers are recorded on the drill logs and the samples are sequenced with standards and blanks inserted according to a predefined QA/QC procedure. The samples are maintained under security on site until they are shipped to the analytical lab. The analytical work reported on herein was performed by Corporacion Quimica Platinum S.A de C.V., Silao, Guanajuato, Mexico which is independent of GSilver. To validate the Company's assay results and its preparation procedures, GSilver sends additional random samples representing approximately
Qualified Person
William Gehlen, a Director of Guanajuato Silver, is a Certified Professional Geologist with the American Institute of Professional Geologists (No. 10626), and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Mr. Gehlen has reviewed and verified technical data disclosed in this news release and detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to herein. Verified data underlying the disclosed information includes reviewing compiled assay data; QA/QC performance of blank samples, duplicates and certified reference materials; and grade calculation formulas.
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
E: jjj@GSilver.com
GSilver.com
Guanajuato Silver Bullion Store
Please visit our Bullion Store, where Guanajuato Silver coins and bars can be purchased.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, GSilver's growth, the timeline for release of additional drill and assay results, the interpretation of drill results, the potential for further exploration and development of GSilber's mineral properties, GSilver's status as one of the fasting growing silver mining company in Mexico.
Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the potential quantity, grade and metal content of the mineralized material at El Cubo and San Ignacio, the geotechnical and metallurgical characteristics of such material conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, high inflation and interest rates, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual grades and recoveries of silver, gold and other metals from the Company's existing mines including El Cubo, San Ignacio, VMC and Topia, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to increase production, tonnage milled and recoveries rates, improve grades and reduce costs at El Cubo, San Ignacio, VMC and/or Topia to process mineralized materials to produce silver, gold and other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from El Cubo, San Ignacio, VMC and Topia is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected grades of gold and silver at El Cubo and San Ignacio and the anticipated level of production therefrom will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about impact of any resurgence of COVID-19, the ongoing war in Ukraine and conflict in Gaza, elevated inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca including the Company's most recently filed annual information form. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE: Guanajuato Silver Company Ltd.
View the original press release on accesswire.com
FAQ
What are the latest drilling results from Guanajuato Silver (GSVRF) at Valenciana?
How many meters of drilling did Guanajuato Silver (GSVRF) complete at Valenciana in Q2 2024?
What are the main veins identified in Guanajuato Silver's (GSVRF) Cata mine area?
Where is the Maravillas section located within Guanajuato Silver's (GSVRF) Valenciana complex?
