Great Panther Drills High Grade Silver at Guanajuato Mine.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- GREAT PANTHER panther, name commonly applied to the leopard, especially to a black leopard. It is also used locally to designate various other cats including the jaguar and the puma. RESOURCES LIMITED (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GPR (Ground Penetrating Radar) A UWB-based technology that locates objects buried underground. It is used to locate buried lines, storage tanks, pipes and conduits as well as to determine the structural integrity of the ground underneath a road or runway. ) ("the Company") is pleased to announce that the Company's first surface diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral program at its Guanajuato Mine in Guanajuato, Mexico has intersected bonanza grade silver and above average gold within the Veta Madre vein structure. Highlights of the program include 692 g/t silver and 5.17 g/t gold over 5.8 metres and 1,096 g/t silver and 4.15 g/t gold over 2.5 metres. The drilling, comprising 1,163.3 metres in six holes, was designed to duplicate and surround a lone 1989 drill hole (#317) that intersected a 5.35 metre wide zone grading 3.34 g/t Au and 81.5 g/t Ag, including 10.65 g/t gold and 165 g/t silver over 1.55 metres. The drilling was completed under and northwest of the Guanajuatito ramp along the trend of the Veta Madre, approximately one kilometre northwest of the famous Valenciana Mine (now owned by Great Panther). The holes were drilled on four section lines Section lines in the United States are one mile apart. When surveyors originally map an area, for instance a township, it was their custom to divide the new township into 36 - 1 square mile sections. Property ownership often followed this layout. A section is a 1 by 1 mile area. at 50 metre intervals, covering a strike length of 150 metres. Two styles of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. were noted in the drill holes: silver-gold mineralization in the Veta Madre itself and a previously unrecognized zone of gold-arsenic-antimony mineralization in the hanging wall. Both zones are epithermal in nature, and likely represent separate pulses of mineralization. In this part of the mine complex, the Veta Madre is manifested as a silica breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. at the contact between the hanging wall diorite diorite Medium- to coarse-grained igneous rock that commonly is composed of about two-thirds plagioclase feldspar and one-third dark-coloured minerals, such as hornblende or biotite. and the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. sediments. Hole GTTO-05-004 was drilled to test the zone of mineralization in hole 317, mentioned above. Hole 004 intersected a 7.3 metre wide vein breccia, interpreted as the Veta Madre, of which 5.8 metres (4.1 metre true width) assayed 692 g/t silver and 5.17 g/t gold. Fifty metres along strike to the southeast, hole GTTO-05-005 intersected a 3.4 metre thick section of the same Veta Madre breccia, with a 2.5 metre (1.77 metre true width) portion assaying 1,096 g/t silver and 4.15 g/t gold. A further 50 metres along strike to the southeast, hole GTTO-05-006 intersected 7.5 metres of the Veta Madre breccia with a 1.5 metre (1.06 metre true width) portion assaying 209 g/t silver and 1.55 g/t gold. The most northwesterly north·west·er·ly adj. 1. Situated toward the northwest. 2. Coming or being from the northwest. north·west holes, GTTO-05-001 & 002, as well as GTTO-05-003, drilled 50 metres updip from hole 004, did not intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. the Veta Madre breccia. Details of significant intersections are listed below. The gold-arsenic-antimony mineralization consists of a 10-30 metre thick (estimated true width) zone of quartz-pyrite veinlets within an extensive stockwork/breccia in the hanging wall diorite and was intersected in all six holes. Although gold values in this zone were mostly below 1 g/t in the drilling, the holes may be too high in the epithermal system, with the possibility of better mineralization at depth. As such, the hanging wall diorite breccia is a significant, previously un-assayed, gold target which will be followed up by surface and underground mapping, rock geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of and further drilling. Elsewhere in the mine, stockwork/breccia zones can achieve thicknesses of 30 metres or more and have historically provided substantial tonnages of silver-gold mineralization amenable to bulk underground mining methods. In the short term, the Veta Madre breccia forms the more appealing target as the drill holes show that it continues with excellent widths and grades below previous workings at the Guanajuatito ramp. The aforementioned intersections occurred at a vertical depth of 100-120 metres below surface. The Veta Madre is known to extend more than 700 metres vertically (approximately 1,000 metres down dip) from surface. Mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. 'shoots' within the structure are often continuous to depth, which bodes well for these new intersections as there has been no drilling or underground development below them. The Guanajuatito ramp provides easy access to this high grade mineralization and only a minor amount of mining has taken place in the past. The underground workings here will be re-sampled and surveyed as part of the Company's ongoing silver-gold resource evaluation.
Highlights of Diamond Drilling:
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True
From To Width Width Ag Au
Hole No. Zone (m) (m) (m) (m) (g/t) (g/t)
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GTTO-05-001 HW breccia 108.0 113.2 5.2 5.2 - 1.02
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GTTO-05-002 HW breccia 115.0 118.0 3.0 2.7 - 0.27
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GTTO-05-003 HW breccia 84.5 93.5 9.0 9.0 - 0.20
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GTTO-05-004 HW breccia 88.0 101.0 13.0 9.2 - 0.74
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GTTO-05-004 V. MADRE 131.7 137.5 5.8 4.1 692. 5.17
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including 131.7 133.15 1.45 648. 4.49
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and 133.15 134.65 1.5 330. 2.55
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and 134.65 135.05 1.4 682. 5.59
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and 135.05 137.5 1.45 1,120. 8.17
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GTTO-05-005 HW breccia 150.5 161.0 10.5 7.4 - 0.44
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GTTO-05-005 V. MADRE 110.5 113.0 2.5 1.77 1,096. 4.15
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including 110.5 111.7 1.2 767. 3.96
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and 111.7 113.0 1.3 1,400. 4.32
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GTTO-05-006 HW breccia 83.5 88.0 4.5 3.2 - 0.26
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GTTO-05-006 V. MADRE 113.5 115.0 1.5 1.06 209. 1.55
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Samples were assayed at ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex Labs in Vancouver and diamond drilling was contracted to BDW BDW Banking Data Warehouse (IBM software for financial alaysis & intelligence) BDW Broker-Dealer Withdrawal BDW Big Daddy Weave (christian band) BDW Block Descriptor Word BDW Byzantine Daily Worship Drilling Mexico, of Guadalajara. 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 recently purchased a 100% interest in the Guanajuato Mine, historically one of the largest silver producers in Mexico. The Guanajuato district is reported to have produced 1.2 billion ounces of silver and 4.5 million ounces gold. Great Panther's Guanajuato Mine encompasses more than 4 kilometres of strike length on the core of the Guanajuato silver-gold camp. ON BEHALF OF THE BOARD Robert A. Archer, P.Geo., President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. SEC 20-F Statement Filed; Standard & Poor's Listed The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ad equacy or accuracy of this release. Great Panther Resources Limited (TSX VENTURE:GPR) |
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