Thursday, May 29, 2008
3,700 Meter Core Drilling Program Commences on the San Marcial Silver Property
May 29, 2008, (TSXV:SMR) Silvermex Resources Ltd. ("Silvermex") announces that two diamond drills have arrived at the Company's San Marcial Property in Sinaloa to commence a fourteen hole, 3,700 meter core drilling exploration program. Silvermex has an option to acquire a 100% interest in the Property. The decision to proceed was supported by the results from the recently completed surface exploration program consisting of geological mapping, surface sampling and re-logging of the core from previous drill programs. The objective of the program is to complete the necessary infill drilling to upgrade the category of the current mineral resource and expand the continuity of the mineralized structure at least 200 meters along strike and 400 meters down dip. The San Marcial Project currently hosts an inferred mineral resource of 14.26 million ounces of silver (2,310,000 tonnes grading 191.79 g/t Ag, 0.32% Lead and 0.66% Zinc). Based on work completed to date the Company believes the resource may be amenable to bulk mining methods.
The most advanced targets on the Property that technical staff believes are likely to add to the current resource base are the San Marcial South East and North West zones. These zones have been traced for over 450 metres and are open in both directions along strike and at depth. Past drill intercepts which demonstrate the high grade nature of certain zones of the resource include:
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Drill Interval True Width Silver Silver
Hole (metres) (metres) (g/t) (oz/ton)
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SM-2 11.61 11.61 350 10.21
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SM-4 57.00 53.95 235 6.85
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SM-5 19.60 17.16 282 8.22
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SM-9 14.50 12.68 540 15.74
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SM-13 23.20 17.50 621 18.10
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Two holes will be collared 200 meters apart to help confirm the existence of the mineralized zone intersected in four holes from previous drill programs. Five holes will test the northwest projection of the mineralized structure associated with the San Marcial deposit while an additional five holes will test the down dip extension of the mineralization below the existing resource. The final two holes will test the south east extension of the San Marcial deposit. These holes are located in a highly fractured volcano-sedimentary sequence that is very oxided and silicified. Based on the grade, tonnage and nature of the mineralization, technical staff believes the silver, lead and zinc mineralization associated with a quartz stockwork within the footwall of the San Marcial vein system may ultimately prove amenable to bulk mining methods.
The current program will only test 900 meters of the mineralized structure that to date has been traced by drilling, mapping and sampling for over 3500 meters to the northwest. To the south east a Tertiary volcanic cover masks much of the structure. As a result detailed mapping, sampling, geochemical and/or geophysical programs will be required to help locate specific drill targets.
The program is expected to be completed before the end of July, 2008.
Qualified PersonPursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Executive Vice-President and CFO of Silvermex Resources Ltd. is the Qualified Person (QP) responsible for the disclosure in this news release.
Contact:
Jason Leikam
Corporate Development
Vancouver, BC, Canada
Tel: 604-638-8979
jason@silvermexresources.comThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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