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GSilver Discovers High-Grade Historical Tailings Material at El Cubo Assays 727 GPT AgEq Over 1.2m and 711 GPT AgEq Over 1.0m
VANCOUVER, BC / ACCESSWIRE / June 22, 2022 / Guanajuato Silver Company Ltd. (the " Company "...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"GSilver Discovers High-Grade Historical Tailings Material at El Cubo Assays 727 GPT AgEq Over 1.2m and 711 GPT AgEq Over 1.0mVANCOUVER, BC / ACCESSWIRE / June 22, 2022 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to report the discovery of high-grade gold and silver material in an historical tailings area at the Company's wholly owned El Cubo Mine Complex in Guanajuato, Mexico.Highlights:A 43,000 sq. meter, 1.0m-1.5m thick layer of high-grade surface material has been identified from a retired tailings facility named‘Mastrantos IV'.134 shallow drillholes, totalling 220.5 drilled meters (holes to approximately 2.0m depth), were completed at Mastrantos IV this year; the best results included Drillhole #164 grading 727gpt AgEq over 1.2m and Drillhole# 166 grading 711 gpt AgEq over 1.0m. Over 95% of the drillholes encountered significant mineralization.The majority of this mineralization exists as free-gold; GSilver has tested several different gravitational separation procedures in order to extract the gold and silver from this material. Final assessments on the exact method the Company will use to process this material will be decided upon shortly.Commenting on this news, James Anderson, Chairman & CEO said, \"Our intention is to add additional silver and gold concentrate production through an independent gravity separation circuit. This will allow us to expand overall production at El Cubo without interfering with the regular flow of material through our processing facility. GSilver's ability to identify and then rapidly act upon this opportunity is demonstrative of the technical quality of our Mexican operating team. Going forward, we plan to investigate and subsequently exploit similar development opportunities that we believe exist within the Guanajuato mining district, where processing of precious metals has been ongoing for over 450 years.\"The Mastrantos IV tailings facility is located approximately 3km from the El Cubo mill and had an operational history dating principally between 1986 to 2003, during which time the price of gold generally traded below US$400 per ounce. Also, most of the Mastrantos IV material comes from El Cubo's Santa Cecilia area which at that time was encountering bonanza gold grades. These combined circumstances may have contributed t...