Business
Guanajuato Silver Confirms New Vein Discovery at El Cubo Mine
VANCOUVER, BC / ACCESSWIRE / November 10, 2022 / Guanajuato Silver Company Ltd. (the " Compa...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Confirms New Vein Discovery at El Cubo MineVANCOUVER, BC / ACCESSWIRE / November 10, 2022 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to provide drill results that confirm the discovery of a new transverse vein at the Company's wholly owned El Cubo Mine in Guanajuato, Mexico.Recent stope development and drilling in the Villalpando area of the El Cubo mine, along with detailed computer modeling and reinterpretation of past operators' drill results, has revealed a new vein structure that has been christened the \"San Luis\" vein. This system was first identified by previous operators; however, the San Luis vein was never pursued or exploited, and the extent of the mineralization remained unknown. The San Luis vein runs perpendicular to the primary regional north-west Villalpando and Dolores mineralized vein structures, and like other transverse veins at El Cubo, the San Luis vein is anticipated to often carry proportionally higher gold content. GSilver's recent drilling has confirmed continuity of the vein. It is expected that this mineralization can be quickly accessed from several adits and ramps, with initial production having already commenced. It is further envisioned that San Luis may develop into a gold-rich vein system and grow in importance in the same way that the Santa Cecilia area has become the largest source of high-grade material at El Cubo.James Anderson, Chairman and CEO said, \"Economic success of our operations is driven by grade, and the identification of another gold-rich transverse vein that can rapidly enhance our mining schedule further demonstrates the considerable potential remaining at El Cubo. With almost 200-years of mining history behind it, El Cubo is ready to begin a new chapter of growth as the centerpiece of our hub & spoke strategy in Guanajuato.\"Note: All silver equivalent (AgEq) values are calculated based on a long-term gold to silver price ratio of 80:1 as used by mineral industry advisors, Behre Dolbear and Company (USA), Inc., in the Company's NI 43-101 PEA report with the effective date of January 31, 2021; a copy of which is available for review on SEDAR. Abbreviations used in this news release include: gpt: grams per tonne; Au: gold; Ag: silver; m: metre, AgEq: silver equivalent, Est.: Estimated....