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XMFSinchiruna (26.55)

Great Panther Returns Yet More Bonanza Silver Grades



December 11, 2009 – Comments (8)

I have completely lost count of the number of drill holes this active silver producer has returned with silver grades above 1,000 grams per ton. Anyone who keeps close watch of mining stocks will know just how rich an ore body that indicates. The company will soon change its name to Great Panther Silver, because silver is something they seem to have no trouble finding.

See more discussion of the company and some links to my earlier posts on it here. I'll save you the trip, and just repost:


Shhhh ... that one's my secret. OK, well... not really:

Great Panther Moves to Positive Cash Flow

Don't Forget About the Junior Silver Miners

A Painful Blip on the Screen for us Commodity Longs ... An Incredible Opportunity for Fools Sitting on Cash July 2008

FWIW, it's my 4th largest equity holding by % allocation ... more if based on my cost basis (I am deep underwater on it).


And here's the latest press release with drill results from the Topia Mine

Great Panther Drills 1,051g/t Silver Over 2.7 Metres And 20.9g/t Gold Over 0.35 Metres At Topia Mine

"The first-ever drilling at the gold-rich Recompensa vein has demonstrated excellent continuity of the mineralization both along strike and to depth, while drilling on the silver-rich, San Gregorio and El Rosario veins intersected exceptional silver values between 30 and 50 meters below current mining levels."

"At the San Gregorio vein, drilling was focused 30 to 50 metres below the present development along approximately 250 metres of strike length. Of the four holes drilled here, all intersected the vein, with two having exceptional results. ST09-088 intersected 0.52 metres (0.30 metres TW) @ 1,503g/t silver, 0.2g/t gold, 4.5% lead, and 6.26% zinc, including 0.32 metres (0.18 metres TW) @ 4,340g/t silver, 0.46g/t gold, 7.0% lead, and 9.6% zinc. ST09-089 intersected 1.05 metres (0.52 metres TW) @ 498g/t silver, 0.37g/t gold, 0.41% lead, and 11.64% zinc."


Beneath a buck, this producer is practically free.

Like all junior miners, it carries risk, but at these prices, a small bet could go a long way. Just food for thought.

DYODD ... it's actualy a lot of fun in this case. :)


8 Comments – Post Your Own

#1) On December 11, 2009 at 10:07 AM, XMFSinchiruna (26.55) wrote:

Also, at a gold-to-silver ratio of 65:1, I recommend focusing greater attention upon silver than gold.

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#2) On December 11, 2009 at 10:41 AM, chk999 (99.96) wrote:

Sinchy, a friend who is a mining engineer showed me an ore sample once.

It was 1000oz a ton silver ore.

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#3) On December 11, 2009 at 10:44 AM, SnapDave (51.04) wrote:

You may have caused a spike with this blog.  Up 4.7% today.

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#4) On December 11, 2009 at 11:23 AM, binve (< 20) wrote:

Thanks Sinch!!

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#5) On December 11, 2009 at 11:29 AM, silverminer (30.05) wrote:

FYI, my cost basis after DCA-ing for the past several years is nearly $1.50 per share :)

Lucky Fools.

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#6) On December 11, 2009 at 11:44 AM, Starfirenv (< 20) wrote:

Thanks Sinch. Any thoughts on Moly, Titanium or Palladium?
My 'stepchildren' GMO, TIE, PAL. Or do you follow the Strategic metals? +1

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#7) On December 11, 2009 at 11:55 AM, silverminer (30.05) wrote:

Not really... I star pretty focused on gold and silver... it's what I know best.

I do have plenty of Moly exposure, but none of the other two.

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#8) On December 16, 2009 at 2:19 PM, XMFSinchiruna (26.55) wrote:

GREAT PANTHER RESOURCES LIMITED (TSX: GPR; the "Company") is pleased to announce that it has acquired a 100% interest in the "La Prieta" concession in the Topia District. The 94 hectare claim hosts two previously mined silver-gold-lead-zinc-quartz vein structures and is situated approximately two kilometres south of the principal veins presently being mined by the Company, and within the Company's overall land package (see claim map on website). As such, it is within easy hauling distance to Great Panther's plant in Topia. La Prieta was acquired for US$330,000.   

There are no historical production records for La Prieta, and it has never been drilled, but preliminary underground channel sampling by the Company ranges from 131g/t silver, 1.4g/t gold, 0.52% lead, and 0.33% zinc across a 0.15 metre width to 600g/t silver, 9.82g/t gold, 2.1% lead, and 5.7% zinc across a 0.5 metres width. The vein is oriented ENE-WSW with a steep north dip.

The La Prieta vein will be drill tested during the upcoming spring 2010 surface drilling program at the Topia Mine. Plans for mine development will then be prepared leading to a production decision by the third quarter of 2010. The acquisition of La Prieta is anticipated to provide additional millfeed for the Topia operation in coming years and demonstrates the Company's commitment to the region.

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