In a press release out today, Great Panther Silver (TSX: GPR and NYSE Amex: GPL) announced the discovery of additional high grade silver-gold mineralization in an extension of the Cata Mine in the core of the Guanajuato Mine Complex.
Highlights of the above observations include Alto 2 zone intersections from UG11-135 that returned 29.44g/t gold and 6,447g/t silver over a width of 3.20 metres, and UG11-137 that returned 7.38g/t gold and 2,114g/t silver over a width of 5.40 metres. The Alto 1a zone in UG11-137 returned 1.82g/t gold and 485g/t silver over a width of 4.80 metres, while the Veta Madre zone in UG11-133 returned 6.02g/t gold and 1,347g/t silver over a width of 2.25 metres.
In the release, Great Panther’s President & CEO Robert Archer stated: “The discovery of new high grade mineralization at depth at Cata is very significant as it not only emphasizes the ongoing potential for new discoveries, but the excellent silver and gold grades will go a long way to boosting our overall grades from this part of the mine.”
These are some very high grade intercepts and should add valuable ounces to Great Panther quickly as these zones are built out and added to current resource/reserve values. To get a sense of the value of this level of mineralization, the aforementioned intercepts calculate at roughly: $9,995 per tonne, $3,146 per tonne, $729 per tonne and $2,079 per tonne respectively (at $1,800 gold and $40 silver).
