Business
Guanajuato Silver Drills 1.15m True Width of 3159 gpt AgEq at Topia
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"\nGuanajuato Silver Drills 1.15m True Width of 3159 gpt AgEq at TopiaTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESAnticipates Closing Private Placement First Tranche December 21stVANCOUVER, BC / ACCESSWIRE / December 20, 2022 / Vancouver, British Columbia - Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to provide recent drill results from the Company's wholly owned Topia mine (\"Topia\") in Durango, Mexico.Since the acquisition of the Topia mine in August (see GSilver news release dated August 4, 2022 - \"GSilver Closes Acquisition of Great Panther's Mexican Mining Assets\") the Company has continued with exploration programs centered on delineating resources and increasing mine life. These new drill results focus on the La Prieta, Rosario, and Dos Amigos vein structures in the central part of the district and are part of an infill and resource delineation drill program that commenced after the acquisition of the Topia mine and is ongoing.Note: All silver equivalent (AgEq) values are calculated using an 81.08:1 (Ag/Au), 0.04:1 (Ag/Pb), and 0.06:1 (Ag/Zn). Abbreviations used in this news release include the following: g/t: grams per tonne; gpt: grams per tonne; Au: gold; Ag: silver; m: metre, and AgEq: silver equivalent.James Anderson, Chairman & CEO said, \"These results demonstrate the continuity of mineralization along the lateral extent of the target horizon and outside the boundaries of our current mining areas. Mining has been ongoing at Topia for roughly 70 years and these high-grade intercepts strengthen our commitment to expand milling capacity from 7,500 tonnes per month to over 10,000 tonnes per month through 2023-24.\"Epithermal mineralization at Topia exists as a system of narrow, high-grade veins measuring up to 1.50m in thickness and occurring within an undulating band of mineralized material that ranges vertically from 100m to 200m, within a lateral extension continuing for several kilometers. The drilling completed over the last three months has provided a better understanding of the control and trend of the mineralized bodies in the La Prieta, Rosario and Dos Amigos vein systems.Equity Financing Update:The Company also announces its plan to close an initial tranche representing th...