GUANAJUATO MINE COMPLEX
The Guanajuato Mine Complex is Great Panther Silver's flagship operation. The property consists of 28 claims, totaling 1,107 hectares. The concessions are 100%-owned by Great Panther's Mexican subsidiary, Minera Mexicana El Rosario, S.A. de C.V. The main claim block covers 4.2 km of the prolific Veta Madre vein structure in the City of Guanajuato in central Mexico.
Metal production for the second quarter of 2010 at the Guanajuato Mine Complex was 288,825 oz Ag, which was a 31% increase compared to the second quarter of 2009. Metals produced totaled a record 369,390 Ag eq oz from processing 34,379 tonnes of ore with an average grade of 291g/t Ag and 1.35 g/t Au.
In addition, early results from the on-going underground drilling and development program in the Los Pozos and Santa Margarita zones in the Rayas area of the Guanajuato mine demonstrated the continuity of silver and gold mineralization, locally to a depth of 600 metres. This will allow the Company to construct a new mineral resource estimate and provide greater definition for the mine plan in these areas. Great Panther intends to drill approximately 17,000 metres at the Guanajuato mine Complex in 2010.
TOPIA MINES
Topia is a high-grade silver-lead-zinc Mine in the Sierra Madre Mountains of Durango State, where silver has been mined intermittently since the 1500's. Great Panther owns 100% of the concessions that comprise 6500 hectares and are accessible by road and air. Topia includes 13 small mining operations all feeding a central plant.
Metal production for the second quarter of 2010 at the Topia Mine was 121,758 oz of silver, 185 oz of gold, 654,323 lbs of lead (a record), and 787,692 lbs of zinc, or 205,350 Ag eq oz, 19% higher than the second quarter of 2009.
The surface diamond drill programme at Topia began in February 2010 and will provide for additional mineral resources to direct mine development and expansion decisions over the next several years. The Company anticipates new mineral resource estimates for an additional four to five Topia area mines by the end of the fourth quarter of 2010.
Outlook
The Company's emphasis will be on maintaining profitability while developing and exploring to continually increase metal production. Great Panther's goal is to increase silver production year-on-year at continually decreasing unit costs.
