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Guanajuato Silver Drills 6,981 g/t AgEq at San Ignacio and Prepares to Expand Production
VANCOUVER, BC / ACCESSWIRE / February 23, 2023 / Guanajuato Silver Company Ltd. (the " Company "...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Drills 6,981 g/t AgEq at San Ignacio and Prepares to Expand ProductionVANCOUVER, BC / ACCESSWIRE / February 23, 2023 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to provide drill results from the Company's wholly owned San Ignacio mine (\"San Ignacio\") in Guanajuato, Mexico.James Anderson, Chairman and CEO said, \"SI22-006 is the best drill hole the Company has drilled at any of its mines recently acquired from Great Panther Mining in August of 2022. With almost five meters of true width intersecting 1,219 g/t AgEq, which includes 0.42m true width of 6,981 g/t AgEq, this may represent a game changing result for the mine. The primary focus of our most recent San Ignacio drill program was to target the Melladito vein system with the goal of extending silver and gold mineralization in the south and north areas of the mine. This outstanding result will be followed up with additional drill holes attempting to follow the down dip extension of the vein within the Company's 2023 drill campaign. In parallel, we are in the midst of driving a 400-metre access ramp from Melladito to the analogous Purisima vein, which offers the potential for expanded production at San Ignacio.\"The Melladito vein dips to the east, with a true width ranging from 0.25 m to over 19 m; the vein has been delineated to a depth of 350 metres but retains deeper potential. Additionally, the vein often returns proportionately higher gold with lesser silver values. Current production from San Ignacio comes mostly from the Melladito and the Nombre de Dios vein systems. Note: All silver equivalent (AgEq) values are calculated based on a long-term gold to silver price ratio of 80:1. Abbreviations used in this news release include the following: g/t: grams per tonne; Au: gold; Ag: silver; m: metre, AgEq: silver equivalent.New Ramp to Purisima VeinAs part of the Company's 2023 development program, GSilver is currently developing Ramp 430, which will allow for development and production from the Purisima vein located approximately 400 metres to the east of the Melladito vein; approximately 40% of Ramp 430 has been completed (see Figure 1 below). The Purisima vein mirrors the Melladito vein system and has the potential to considerably impact production as well as overall mine life once th...