Great Panther Shines with resent drill results. 1,300 g/t silver!!
With a one-two punch over the past week, Great Panther has issued 2 press releases revealing some very impressive test results from recent exploration. This is my favorite silver producer, and in my opinion it is incredibly undervalued.
Mon May 5, 2008
Great Panther Drills 15.94 Metres @ 1,305G/T Silver And 4.60G/T Gold And Discovers New Base Metal Rich Zone In Guanajuato Mine
GREAT PANTHER RESOURCES LIMITED (TSX: GPR) is pleased to announce that deep diamond drilling at the Company's wholly-owned Guanajuato Mine in Guanajuato, Mexico continues to enlarge the dimensions of the Cata Clavo with considerable widths of exceptionally high grade silver-gold mineralization and has discovered a new silver-copper-lead-zinc zone in the lower portion of the orebody.
Drilling was highlighted by hole EUG08-015, which intersected 15.94 metres grading 1,305g/t silver and 4.60g/t gold in the Veta Madre zone. Four of 23 samples within this interval assayed greater than 7,000g/t silver and 28g/t gold with the highest grade sample being 0.25 metres grading 11,815g/t silver and 46.20g/t gold. A second intersection in EUG08-015 returned 254g/t silver and 0.72g/t gold over 5.20 metres, also in the Veta Madre.
Significant widths of good mineralization were intersected in the Veta Madre Zone in hole EUG08-014 which was drilled up dip and off section to the north from EUG08-015. Hole EUG08-014 intersected 4.54 metres grading 166g/t silver and 0.48g/t gold and 2.28 metres grading 347g/t silver and 1.46g/t gold, both in the Veta Madre. Hole EUG08-013, drilled up dip and off section to the south from EUG08-015, intersected 0.32 metres grading 671g/t silver and 3.72g/t gold in the Veta Madre Zone.
A new base metal rich zone was discovered at a vertical depth of 600 metres by core hole EUG08-016, which was drilled to test the Veta Madre zone at depth. This new zone, in the footwall of the Veta Madre, returned 71g/t silver, 0.93% copper, 0.29% lead, and 0.35% zinc over 3.10 metres, including a higher grade portion assaying 162g/t silver, 2.07% copper, 0.42% lead, and 0.39% zinc over 0.44 metres. This is the first time that any appreciable amount of base metals has been encountered in the Cata Clavo and is evidence of metal zoning as the depth increases. Future drilling will continue to test this new zone both up-dip and along strike. Highlights of holes EUG08-013 to 016 are detailed in the table below. Maps, sections and previous news releases can be viewed on the Company's website at www.greatpanther.com.
Drill-holes EUG08-013 to 016 were all collared on the same section as holes EUG07-008 to 012 on the 345 level cross cut to test the down dip and strike continuity of the Cata Clavo, and all intersected significant mineralization with some zones demonstrating excellent widths. Drilling is ongoing and, to date, every hole in the deep drilling program at Cata has intersected good mineralization. Although widths and grades in the drilling are variable, as is typical of vein systems, the program is confirming wide spaced historic drill data that indicated the extension of silver-gold mineralization in this area for at least 170 metres below the existing workings and over a strike length of approximately 300 metres. Seven sub-parallel zones of economic grade have now been identified within a system of intense silicification, brecciation, and quartz vein flooding up to 60 metres in thickness.
Samples were assayed by SGS at the Company's Guanajuato Mine site laboratory and diamond drilling was contracted to Canrock Drilling, of San Luis de Potosi. Robert F. Brown, P. Eng and Vice President of Exploration for the Company, is the Qualified Person for the Guanajuato Mine Project, under the meaning of NI43-101, and has reviewed these results. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, plus ISO certified laboratory checks.
Great Panther owns a 100% interest in the Guanajuato Mine Complex. Historically, the Guanajuato Mine was one of the largest silver producers in Mexico and encompasses the core of the Guanajuato District, which has produced 1.2 billion ounces of silver and 4.5 million ounces gold
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