Business
Great Panther Commences Surface Drill Program at San Ignacio Mine Property in Guanajuato
Great Panther Commences Surface Drill Program at San Ignacio Mine Property in Guanajuato
About this update from Endeavour Silver Corp.
[{"type":"text","content":"\nGreat Panther Commences Surface Drill Program at San Ignacio Mine Property in Guanajuato\n\n\n Sep. 23, 2010 (Newsfile Corp.) -- Vancouver, British Columbia--(September 23, 2010) - GREAT PANTHER SILVER LIMITED (TSX:GPR) (OOTC:GPRLF) (TSX: GPR; the “Company”) is pleased to announce the commencement of a surface drilling program at the San Ignacio Mine property, Guanajuato. The property is located approximately 5 kilometres west-northwest of the City of Guanajuato, where Great Panther operates its flagship Guanajuato Silver-Gold Mine. The property was part of the package purchased by Great Panther in 2005 but, due to the Company’s focus on the main mine complex, it has not conducted any work at San Ignacio until this year. The past-producing San Ignacio Mine was put on care-and-maintenance by the previous owners in 2001 due to low metal prices but the infrastructure is still intact. The San Ignacio Mine property covers part of the La Luz vein district, which is parallel to, and west of, the principal Veta Madre structure that hosts the main Guanajuato mines (see map on website at http://www.greatpanther.com/i/pdf/SanIgnacio-LocationMap-Sep10.pdf). The La Luz district marks the site of the first discovery of silver in the area, in the year 1548, which led to the discovery of the Veta Madre silver-gold deposits in 1550. It comprises a swarm of generally north-northwest striking, west dipping quartz veins and breccias with associated low sulphidation silver-gold mineralization, along an approximate 8 kilometre long trend. Great Panther’s San Ignacio Mine property covers approximately 4 kilometres of strike length on the La Luz vein system and is contiguous with Endeavour Silver (TSX:EDR') (AMEX:EXK) (TSX:EDR) ’s Bolanitos Mine property that is currently in production. The San Ignacio Mine exploited only about 500 metres of strike length along one of the three known structures on the property and there is no record of any previous exploration elsewhere on the claim block. Production records from 1977 to 2001 indicate that a total of 617,455 tonnes at a grade of 113g/t Ag and 1.01g/t Au were extracted from this small portion of the property at an average rate of approximately 85 tonnes per day. This is similar to the grade that was mined at Guanajuato prior to Great Panther’s purchase of the ...