17% Increase To Measured And Indicated Resources
Great Panther Mining Limited (TSX: GPR) has completed updated Mineral Resource estimates for its 100%-owned Guanajuato Mine Complex (GMC) in Mexico. These estimates are based on 199 holes totalling 19,913m of drilling since the previous Mineral Resource estimate.
GMC is comprised of the Guanajuato and San Ignacio underground mines and the 1,000 tonne-per-day Cata processing plant, located in the prolific Guanajuato mining district.
Highlights
- Measured and Indicated (M&I) Mineral Resources contain 10.2 million (M) silver equivalent ounces (Ag eq oz), a 17% increase over the previous 2019 estimate
- M&I Mineral Resource grade increased 10% from 180 to 199 grams per tonne silver (g/t Ag)
- Inferred Mineral Resources contain 18.1M Ag eq oz, more than double the previous estimate
- At Guanajuato, Inferred Mineral Resources increased from 2.3M to 6.0M Ag eq oz, reflecting successful exploration efforts in the Los Pozos area
- At San Ignacio, Inferred Mineral Resources increased from 5.9M to 12.1M Ag eq oz, reflecting successful exploration efforts in the Purisima area
President and CEO Rob Henderson said the company has completed another productive drilling campaign at GMC, successfully outlining new resources and demonstrating the quality of the orebody.
“GMC has been in our portfolio since 2005 and has cumulatively produced nearly 30 million silver equivalent ounces for Great Panther. We also expect to report updated reserve and resource estimates at Tucano before year end,” Mr Henderson said.
San Ignacio
Compared to the previous Mineral Resource estimate with an effective date of July 31, 2019, Inferred tonnage increased 98%, silver grades increased 14%, and Ag eq oz increased 106%. These changes reflect the use of higher metal prices, mine depletion, and expansion and addition of zones in the Purisima vein area due to successful exploration drilling.
Guanajuato
Compared to the previous Mineral Resource estimate with an effective date of October 31, 2019, M&I tonnage increased 26%, silver grades increased 22%, and Ag eq oz increased 47%. Inferred tonnage increased 121%, silver grades increased 31%, and Ag eq oz increased 154%. These changes reflect the use of higher metal prices, minor mine depletion, significant changes (up and down) in total operating costs in several mining areas, and expansion of zones at Los Pozos due to successful exploration drilling. Between August 1, 2019 and July 31, 2020, a total of 23,175 tonnes were mined at Guanajuato.
