Americas Gold and Silver Corporation Drills Bonanza Grade at Galena Complex

Figure 1: Intercept from Hole 49-703 and proximity to Hole 49-668 (Photo: Americas Gold and Silver Corporation)
Following the successful drill results at the Galena Complex highlighted in the Company’s January 23, 2024 press release, the Company is pleased to provide results from Hole 49-703, returning an extremely high-grade Ag-Cu intercept targeting the gap in drilling between the 4600 Level and the 4900 Level.
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Hole 49-703: 20,147 g/t silver and
5.9% copper (20,842 g/t silver equivalent[1]) over 2.1 m[2] - Hole 49-703 is less than 10 meters from the previously announced hole, 49-668, and is within 30 meters of existing mine infrastructure.
- The Company intends to drill additional holes to delineate the vein and contained grade and is confident that this area can provide high-grade ore to the mill before the end of Q2-2024.
“The Galena Complex exploration program continues to deliver. Hole 49-703 is one of the highest grade holes since the Company commenced the Galena Complex Recapitalization Program in 2019. This hole shows a successful follow-up to the 49-668 high-grade intercept drilled in late 2023.” stated Americas President and CEO Darren Blasutti. “In addition to the spectacular grade, the hole is near existing infrastructure and in an area without previously known mineralization. This location should enable to Company to exploit this area quickly and generate additional silver production in the near term.”
Galena Exploration Update
The Galena Complex has been actively drilling near mine exploration targets with exciting results including an area between the 4600 Level and 4900 Level which was previously a gap in drilling, did not contain a mineral resource, and has since been consistently returning high-grade intercepts of attractive Ag-Cu veins. After the positive results from the drill program located near the 4600 level and reported in the Company’s January 23rd press release, the Company prioritized follow-up drilling to the high-grade intercept in Hole 49-668. The Company decided to move a drill to a decommissioned powder magazine on the 4900 level to explore and define this area. Hole 49-703 is the first successful follow up hole in this program and its proximity to the intercept in Hole 49-668 indicates continuity of the vein in this area.
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Hole 49-703: 20,147 g/t silver and
5.9% copper (20,842 g/t silver equivalent) over 2.1 m
The previously reported hole on which was reported on January 23, 2024 was hole 49-668 and contained:
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Hole 49-668: 5,663 g/t silver,
1.1% copper and0.2% lead (5,793 g/t silver equivalent) over 0.8 m
and: 1,012 g/t silver and
and: 5,598 g/t silver,
A full table of drill results can be found at:
https://americas-gold.com/site/assets/files/4297/dr20240326.pdf
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in
Technical Information and Qualified Persons
The scientific and technical information relating to the operation of the Company’s material operating mining properties contained herein has been reviewed and approved by Chris McCann, P.Eng., VP Technical Services of the Company. The Company’s current Annual Information Form and the NI 43-101 Technical Reports for its other material mineral properties, all of which are available on SEDAR+ at www.sedarplus.com, and EDGAR at www.sec.gov, contain further details regarding mineral reserve and mineral resource estimates, classification and reporting parameters, key assumptions and associated risks for each of the Company’s material mineral properties, including a breakdown by category.
All mining terms used herein have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities. These standards differ from the requirements of the SEC that are applicable to domestic
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas’ expectations, intentions, plans, assumptions and beliefs with respect to, among other things, the Company’s drilling program at the Galena Complex, including expectations regarding future drilling and the results therefrom,; the Company’s ability to access and exploit recently drilled holes and grades and provide high-grade ore to the mill on currently expected timing and the anticipated impact on overall production; production from the Galena Complex, including the expected number of producing stopes and production levels; .. Often, but not always, forward-looking information can be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “potential’, “estimate”, “may”, “assume” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of
1 Silver equivalent grade for drill intercepts were calculated using metal prices of
2 Meters represent “True Width” which is calculated for significant intercepts only and is based on orientation axis of core across the estimated dip of the vein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240326126615/en/
For more information:
Stefan Axell
VP, Corporate Development & Communications
Americas Gold and Silver Corporation
416-874-1708
Darren Blasutti
President and CEO
Americas Gold and Silver Corporation
416‐848‐9503
Source: Americas Gold and Silver Corporation