| | Published : May 29th, 2008 | 3,700 Meter Core Drilling Program Commences on the San Marcial Silver Property |
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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: ----------------------------------------------
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.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results. |
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Silvermex Resources Ltd.
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PRODUCER |
CODE : SLX.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silvermex Res. is a silver producing company based in Canada. Silvermex Res. produces silver, gold in Mexico, and holds various exploration projects in Mexico. Its main asset in production is LA GUITARRA & SAN RAFAEL in Mexico and its main exploration properties are TRANSVAAL PROPERTY and OEST PROPERTY in Canada and MINA DE AGUA / SANTA ANA PROJECT, LETY, LOBOS, CERRO DE PLATA, EL RAYO, PENASCO QUEMADO, SAN MARCIAL, LA FRAZADA, ROSARIO and LETY in Mexico. Silvermex Res. is listed in Canada. Its market capitalisation is CA$ 21.7 millions as of today (US$ 21.3 millions, € 17.3 millions). Its stock quote reached its highest recent level on February 25, 2011 at CA$ 1.03, and its lowest recent point on December 30, 2011 at CA$ 0.35. Silvermex Res. has 44 207 000 shares outstanding. |
Financings of Silvermex Resources Ltd. |
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Financials of Silvermex Resources Ltd. |
Project news of Silvermex Resources Ltd. |
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Corporate news of Silvermex Resources Ltd. |
6/29/2012 | Receives Final Court Order Approving Plan of Arrangement |
6/26/2012 | Securityholders Approve Plan of Arrangement with First Majes... |
6/6/2012 | to Resume Trading on OTC Link |
5/30/2012 | Obtains Interim Order For Plan Of Arrangement |
4/3/2012 | First Majestic Announces Friendly Acquisition Of Silvermex R... |
4/2/2012 | Files Form 40-F Registration Statement With the SEC |
3/13/2012 | Reports on OTC Link Trading Status |
3/1/2012 | Aims To Deliver Resource And Production Growth In 2012 |
2/15/2012 | Delivers Production Growth in Fourth Quarter 2011 |
7/29/2010 | Bloomberg Reports on Silver Market |
3/28/2010 | Emerging Silver Producer - A Silvermex Update...53 |
12/18/2009 | Reports Underground Sampling Assays. Highlights Include: 2m ... |
12/15/2009 | Michael Callahan, Prior Hecla Executive, Appointed as New Pr... |
12/4/2009 | Completes acquisition of Rosario Project |
11/6/2009 | Elects New Directors |
9/29/2009 | Contact Change Alert |
9/22/2009 | to Attend the Silver Summit |
2/2/2009 | Closes Brokered Financing Of $1,500,000 |
12/26/2008 | announces preliminary assessment and financing |
9/3/2008 | Corporate Update |
7/16/2008 | Commences Drill Program At El Rayo Project, Sonora, Mexico |
4/24/2008 | Company Update |
4/10/2008 | Closes Financing Of $2,906,000 |
3/25/2008 | Acquires the La Frazada Mine, Nayarit, Mexico |
11/19/2007 | Short Form Offering Completed |
10/9/2007 | Options San Marcial Property from Silver Standard |
9/21/2007 | To participate at the Silver Summit, Idaho and related Silve... |
7/9/2007 | Acquires Lety Property In Durango |
4/5/2007 | Closes Financing |
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