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Great Panther Mining is a precious metals producer focused on the operation of the Tucano Gold Mine in Brazil where the Company wholly-owns a land package covering nearly 200,000 hectares in the prospective Vila Nova Greenstone belt.
Operating in a sustainable manner is embedded in our mission: to safely, sustainably and profitably produce gold and silver, for the benefit of our investors, employees, and communities. Our Sustainability Policy articulates our specific commitments in three key areas, which we believe provide the foundation for a sustainable mining business: safety and health, environmental responsibility, and community engagement and development. We have worked hard to develop and implement programs, initiatives, and results in each of these areas.
"We are pleased that ongoing underground drilling and development continues to extend the mineralized zones in advance of production," stated
Results of the recently completed development along the Veta Madre on the 525 metre level (lowest level) of the Cata Clavo included a 50 metre strike length grading 794g/t silver and 1.85g/t gold across an average true width of 3.6 metres. Underground drilling continues to explore the Veta Madre at Cata Clavo below the 525 level.
The 2013 Guanajuato Mine Complex mineral resource estimate contains Measured and Indicated mineral resources of 4,430,000 Ag eq oz including 3,348,000 Ag eq oz in the Measured category and 1,081,000 Ag eq oz in the Indicated category (see table below). Inferred mineral resources are estimated at 3,900,000 Ag eq oz. These are contained in the Cata Clavo, Los Pozos, Santa Margarita, San Cayetano, Promontorio, Valenciana and Guanajuatito zones. The Guanajuatito zone has been expanded with the addition of the Northwest and Southeast zones (see Company news release dated
Overall, from the last mineral resource estimate (effective date
Mining of four zones, namely Cata, Los Pozos, Santa Margarita and Guanajuatito, currently accounts for most of the
Development and exploration are ongoing to expand mineral resources 1) along the Santa Margarita structure (hanging wall zone to Veta Madre) both to the southeast strike extension and between the 390 and 270 levels (above present mining), 2) at Guanajuatito (Veta Madre and a footwall zone) both laterally (50-120 level) and in deep extensions (245-390 levels), 3) at Valenciana (Veta Madre and both footwall and hanging wall zones as well as exploration both at depth and proximal to old workings), 4) at San Cayetano (Veta Madre), 5) at Cata in the upper areas along strike both to the SE and NW, and 6) at Promontorio (Veta Madre and both footwall and hanging wall zones).
Through a collaborate effort, a Special Projects team from the Company's Geology, Mining, and Planning Departments is reviewing all previously mined areas for opportunities in further exploitation. This has been a particularly successful effort as new opportunities can be turned into "un-official" mineral resources and mined within months due to existing access. Examples include the exploitation of high grade material from an old Los Pozos stope above the 250 level, along with expansion of the stope itself, and the further definition of mineralization presently being exploited on the Santa Margarita vein from the 390, 365, and 345 levels.
The updated mineral resource estimate for the
|Tonnage||Grade g/t||Contained kOz|
|Area||kt||Ag Eq||Au||Ag||Ag Eq||Au||Ag|
|Sub Total Cata||84.9||408||1.34||328||1,114||3.65||894|
|Sub Total Pozos||138.9||229||0.78||182||1,023||3.48||814|
|Sub Total Santa Margarita||85||335||4.72||51||914||12.90||140|
|Sub Total Guanajuatito||53.2||174||0.64||135||298||1.10||232|
|Sub Total Cata||33.1||420||1.38||337||448||1.47||359|
|Sub Total Pozos||35.8||148||0.55||116||171||0.63||133|
|Sub Total Santa Margarita||23||296||3.3||98||219||2.44||73|
|Sub Total Guanajuatito||50.7||150||0.65||111||244||1.06||180|
|Sub Total Cata||118.1||411||1.35||330||1,561||5.13||1,254|
|Sub Total Pozos||174.7||213||0.73||169||1,194||4.11||947|
|Sub Total Santa Margarita||108||326||4.42||61||1,133||15.34||213|
|Sub Total Guanajuatito||103.9||162||0.65||123||542||2.16||412|
|Total Measured + Indicated||504.7||273||1.65||174||4,430||26.74||2,825|
|Sub Total Cata||12.7||489||1.53||398||199||0.62||162|
|Sub Total Pozos||17||341||0.65||302||186||0.35||165|
|Sub Total Santa Margarita||14.3||340||2.18||209||157||1.01||96|
|Sub Total Guanajuatito||88.8||289||0.99||229||824||2.82||654|
|Sub Total San Cayetano||41.5||307||3.69||85||410||4.93||114|
|1. CIM Definitions were followed for Mineral Resources.|
|2. Measured and Indicated Mineral Resources are reported at a cut-off grade of 50g/t Ag Eq.|
|3. Inferred Mineral Resources are reported at area-specific cut-offs as follows: Cata 176g/t Ag Eq, Guanajuatito 164g/t Ag Eq, Pozos 178g/t Ag Eq, San Cayetano 169g/t Ag Eq, Santa Margarita 166g/t Ag Eq, Valenciana 167g/t Ag Eq, and Promontorio 166g/t Ag Eq.|
|4. Prices of US$1,280/Au oz and US$20.80/Ag oz were used in calculations.|
|5. Bulk Density is 2.68t/m3.|
|6. Totals may not agree due to rounding.|
|7. Ag Eq is given by the formula Ag Eq = Ag + 60*Au.|
Both drill core and underground chip samples were assayed independently by SGS at the
ABOUT GREAT PANTHER
For further information, please visit the Company's website at www.greatpanther.com or e-mail email@example.com.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its