Great Panther (GPRLF) strikes incredible silver grades as high as 1,000 grams per ton!!!
This has been my favorite junior silver producer for some years, and I have written on several occasions about hos ridiculously undervalued it is/was. This company will probably be snatched up before it has a chance to grow to maturity on its own, but if left alone, I predict its shareprice would ultimately increase 10-fold before this is all said and done.
Mon Apr 28, 2008 Great Panther Produces From High Grade Silver-Gold Zone At Guanajuato; Grades Up To 1,064G/T Ag And 7.2G/T Au -------------------------------------------------------------------------------- Great Panther Resources Limited (TSX: GPR; the "Company") is pleased to report that mining on 3 levels along the North Zone of the Veta Madre in the Guanajuatito area of the Guanajuato Mine has encountered high grade silver-gold ore which corresponds very well with results from earlier surface diamond drilling and is an integral part of the recent production turnaround being reported at the Guanajuato Mine (see news release April 7, 2008). Highlights of channel sampling results include a strike length of 30.3 metres with a true width of 2.1 metres, grading 455g/t silver and 3.30g/t gold on level +20; 50.0 metres, with a true width of 2.3 metres, grading 613g/t silver and 3.88g/t gold plus 20 metres with a true width of 1.9 metres, grading 1,064g/t silver and 7.2g/t gold on level +10; and 37.1 metres, with a true width of 3.3 metres, grading 898g/t silver and 5.58g/t gold on level -20. The nearest corresponding drill hole intersections (GTT05-04, 05 and 06) indicated grades ranging from 209 to 1,096g/t Ag and 1.55 to 5.17g/t Au over true widths of 1.06 to 4.1 metres (see news release December 1, 2005). Highlights of the underground sampling are listed below and displayed on "Sampling and Drill Plan of -20, +10 and +20 levels" on the Company's website at www.greatpanther.com. During the record first quarter of 2008, 78,200 Eq Ag oz, almost 30% of the metal production for Guanajuato, was mined from this zone. Production from the North Zone is expected to increase further, as mechanized cut-and-fill mining is now established from the -20 and +20 levels. This result emphasizes the benefit to operations from exploration drilling and mine development in previously unexploited areas. Highlights of Underground Sampling on the North Zone: Length of mineralized zone (m) True width (m) Silver grade (g/t) Gold grade (g/t) +20 level 30.3 2.1 455 3.30 17.0 1.5 461 3.11 +10 level 50.0 2.3 461 3.88 20.0 1.9 1,064 7.20 -20 level 37.1 3.3 898 5.58 In the Guanajuatito area the Veta Madre vein is being exploited by ramp access from surface. The +20 level is 20 metres above mine datum (2,099 metres above sea level), while the -20 level is 20 metres below mine datum. The silver and gold grades are derived from channel sampling of the mining faces and are width weighted and averaged. As the Veta Madre dips at 45 degrees, the dip length between the -20 and +20 levels is approximately 56 metres. Surface and underground drilling at Guanajuato has been highly successful in identifying and defining areas of mineralization, and underground development has further exemplified that the drilled areas contain mineralized zones that are consistent in grade and width with the drilling. The Guanajuatito North zone is open to depth and will continue to be extended down-dip by deeper core drilling from surface, commencing in June 2008. Robert F. Brown, P.Eng. and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine, under the meaning of NI 43-101. Aspects of both mines relating to mining and metallurgy are overseen by Charles Brown, Chief Operating Officer for Great Panther and its Mexican subsidiary, Minera Mexicana El Rosario, S.A. de C.V. For further information please contact Brad Aelicks or Don Mosher at telephone 604 685 6465, fax 604 899 4303 or e-mail firstname.lastname@example.org. ON BEHALF OF THE BOARD "Robert A. Archer" Robert A. Archer, President & CEO