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Great Panther Expands High Grade
Silver-Gold-Lead-Zinc Mineralization with Surface Drilling and Underground
Development at Topia Mine
GREAT PANTHER SILVER LIMITED (TSX: GPR; the "Company") is
pleased to report final results from the recently completed 8,815.4 metre (expanded from the initial 6,000 metre) surface drill program on the Topia
mine veins. The drilling was extremely successful and will guide mine
development to continue to expand silver production from the San Gregorio, Recompensa, and Cantarranas (Hormiguera mine) veins plus enable new production to be
added from veins where no mining is currently taking place. Drilling on the
recently acquired La Prieta property proved the
potential for this to be an additional mine for the Topia
operations, with high silver values in the three drill holes of up to
2,500g/t over 0.25 metres. There were also several
significant intercepts of other veins that are not currently being mined,
including the Higuera vein (close to the San
Gregorio vein), and the western portion of the Oliva
vein (close to the Recompensa vein). Highlights are
reported in the table below, while plan and longitudinal maps are located on
the Company website at www.greatpanther.com.
In addition, mine development on the Cantarranas
vein at the Hormiguera Mine has encountered 161 metres of strike length with an average width of 0.19 metres grading 1,403g/t silver, 0.88g/t gold, 2.02% lead,
and 7.76% zinc. At Mina 7, on the San Gregorio vein, development is ongoing
eastward, with 90 metres of strike length on the
vein, with an average width of 0.43 metres grading
1,436g/t silver, 0.53g/t gold, 7.26% lead, and 12.23% zinc. Sub-level
development and stoping is ongoing in both areas.
Mineral resource/reserve estimations have commenced on all viable areas with
the completion of the surface drilling. Added mineral resource/reserve will
play an important role in the Company's plans to increase production 20% per
year from 2010 to 2012. The Company anticipates mineral resource/reserve
estimates from 11 Topia area mines and exploration
zones by late November 2010.
The recent surface drilling successfully tested the eastern extension of the
La Prieta vein structure, as the vein was
intersected approximately 300m east of the old workings, in drill hole
ST10-151, and returned 0.50 metres grading 858g/t
silver, 0.89g/t gold, 1.44g/t lead, and 2.03% zinc. In fill-in hole ST10-150,
the La Prieta vein appears to fork, with the upper
intersection assaying 2,400g/t silver, 2.18g/t gold, 1.75% lead, and 6.33%
zinc across 0.25 metres and the lower intersection
returning 565g/t silver, 1.42g/t gold, 0.59% lead and 1.17% zinc over 0.20 metres. As such, the La Prieta
vein is open to the east, and may connect with the Australia vein system
located approximately two kilometres eastward.
These encouraging results will assist in the preparation of a mine plan for
the La Prieta structure.
Drilling along the San Gregorio vein was focused on testing the structure
between the San Gregorio/Mina 7 mining area and the Durangueno
mining area. Surface drill holes ST10-147 and 148 intersected multiple
structures including the well mineralized La Higuera
vein, five intermediate breccia zones and then the
San Gregorio barite-quartz vein structure across approximately 50 metres north to south. The La Higuera
intersections, from drill hole ST10-148, include 777g/t silver, 0.09g/t gold,
2.77% lead, and 8.61% zinc over 1.20 metres. The
intermediate breccia structures in the same hole
include 363g/t silver, 0.43g/t gold, 2.09% lead, and 9.92% zinc over 0.50 metres and 617g/t silver, 0.19g/t gold, 0.35% lead, and
2.24% zinc over 0.35 metres. The San Gregorio
structure, although well developed, returned sub-economic grades. These two
initial drill holes open up the potential for mine development of the La Higuera vein and the multiple intermediate zones between
it and the San Gregorio structure, along 500-600 metres
of strike.
Topia Drilling Highlights
Hole
|
Vein
|
From m
|
To m
|
Width m
|
True Width
m
|
Ag (g/t)
|
Au (g/t)
|
Pb %
|
Zn %
|
|
ST10-137
|
Oliva
|
123.60
|
123.83
|
0.23
|
0.09
|
1200
|
1.80
|
3.62
|
7.07
|
|
ST10-143
|
Recompensa
|
60.95
|
61.25
|
0.30
|
0.20
|
295
|
2.69
|
0.01
|
1.04
|
|
ST10-143
|
Recompensa
|
63.65
|
64.15
|
0.50
|
0.35
|
111
|
1.98
|
0.16
|
1.81
|
|
ST10-143
|
Intermediate
|
91.90
|
92.20
|
0.30
|
0.25
|
1230
|
4.14
|
5.41
|
7.82
|
|
ST10-143
|
Oliva
|
145.45
|
145.65
|
0.20
|
0.13
|
1400
|
0.16
|
0.73
|
0.03
|
|
ST10-144
|
Recompensa
|
57.10
|
57.14
|
0.04
|
0.03
|
590
|
0.46
|
12.60
|
12.60
|
|
ST10-144
|
Intermediate
|
73.35
|
73.47
|
0.12
|
0.10
|
282
|
1.87
|
3.68
|
24.90
|
|
ST10-145
|
Recompensa
|
70.20
|
70.35
|
0.15
|
0.08
|
5000
|
2.45
|
5.43
|
3.12
|
|
ST10-145
|
Intermediate
|
81.95
|
82.07
|
0.12
|
0.08
|
6610
|
7.88
|
7.49
|
18.20
|
|
ST10-146
|
Recompensa
|
82.55
|
82.80
|
0.25
|
0.16
|
229
|
16.50
|
1.53
|
7.05
|
|
ST10-147
|
Higuera
|
10.00
|
10.45
|
0.45
|
0.29
|
1250
|
0.15
|
4.05
|
7.86
|
|
ST10-147
|
Higuera
|
11.50
|
12.15
|
0.65
|
0.41
|
226
|
0.02
|
0.52
|
7.65
|
|
ST10-147
|
Higuera
|
17.00
|
17.50
|
0.50
|
0.32
|
1270
|
0.04
|
0.62
|
3.45
|
|
ST10-147
|
Intermediate
|
36.20
|
36.45
|
0.25
|
0.25
|
102
|
0.41
|
0.63
|
22.40
|
|
ST10-147
|
Intermediate
|
45.30
|
45.47
|
0.17
|
0.07
|
687
|
0.38
|
4.10
|
4.72
|
|
ST10-147
|
Intermediate
|
47.60
|
48.10
|
0.50
|
0.32
|
286
|
0.58
|
0.24
|
0.65
|
|
ST10-148
|
Higuera
|
6.65
|
7.85
|
1.20
|
0.77
|
777
|
0.09
|
2.77
|
8.61
|
|
ST10-148
|
Intermediate
|
16.40
|
16.90
|
0.50
|
0.35
|
363
|
0.43
|
2.09
|
9.92
|
|
ST10-148
|
Intermediate
|
27.85
|
28.20
|
0.35
|
0.25
|
97
|
0.54
|
0.62
|
14.00
|
|
ST10-148
|
Intermediate
|
37.00
|
37.35
|
0.35
|
0.25
|
617
|
0.19
|
0.35
|
2.24
|
|
ST10-150
|
La
Prieta
|
144.30
|
144.55
|
0.25
|
0.15
|
2400
|
2.18
|
1.75
|
6.33
|
|
ST10-150
|
La
Prieta
|
147.30
|
147.50
|
0.20
|
0.12
|
565
|
1.42
|
0.59
|
1.17
|
|
ST10-151
|
alto
|
139.85
|
140.00
|
0.15
|
0.04
|
5570
|
4.65
|
2.84
|
7.66
|
|
ST10-151
|
La
Prieta
|
150.75
|
151.25
|
0.50
|
0.13
|
858
|
0.89
|
1.44
|
2.03
|
|
ST10-152
|
El
Desierto
|
125.05
|
125.20
|
0.15
|
0.07
|
240
|
0.85
|
0.14
|
0.16
|
|
ST10-152
|
alto
|
221.75
|
221.85
|
0.10
|
0.06
|
449
|
0.59
|
1.98
|
2.85
|
|
ST10-152
|
La
Prieta
|
227.00
|
227.50
|
0.50
|
0.40
|
937
|
5.84
|
4.14
|
5.45
|
|
ST10-153
|
El
Desierto
|
105.80
|
105.95
|
0.15
|
0.12
|
433
|
0.77
|
1.42
|
2.81
|
|
ST10-155
|
Cantarranas
|
69.65
|
70.25
|
0.60
|
0.38
|
310
|
0.24
|
0.53
|
0.92
|
The gold-rich Recompensa vein, along with a
footwall "intermediate" zone and the Oliva
vein were tested using a "man portable" drill from sites at Recompensa. The drilling focused above the 1212 level and
consisted of drill holes ST10-141 to 146. Highlights from the Recompensa vein include ST10-146 which intersected 0.25 metres assaying 229g/t silver, 16.5g/t gold, 1.53% lead,
and 7.05% zinc. Some bonanza silver grades were intersected, albeit over
narrow widths, including 0.15 metres of the Recompensa vein in ST10-145 which assayed 5,000g/t
silver, 2.45g/t gold, 5.43% lead, and 3.12% zinc. Drill holes ST10-141 and
142 were drilled to test the base of the Recompensa
vein mineralized horizon and both were drilled too deep and intersected
non-economic grades.
The Recompensa vein footwall
"intermediate" vein also intersected some excellent grades, with
ST10-143 intersecting 0.30 metres assaying 1,230g/t
silver, 4.14g/t gold, 5.41% lead, and 7.82% zinc, and ST10-145 intersecting
0.12 metres assaying 6,610g/t silver, 7.88g/t gold,
7.49% lead, and 18.2% zinc.
The Oliva vein (west) was intersected in the
drilling at Recompensa and also 400 metres to the east following up on some detailed surface
sampling of old adits and trenches. In the Recompensa area, the Oliva vein
is approximately 60 metres into the footwall
(north) of Recompensa vein. Due to drilling
conditions only two of the six recent drill holes went far enough north to intersect the Oliva
vein. A highlight includes ST10-143 which intersected 0.20 metres grading 1,400g/t silver, 0.16g/t gold, 0.73% lead,
and 0.03% zinc. From the drilling completed 400 metres
east (drill holes ST10-137 and 138), ST10-137 intersected 0.23 metres grading 1,200g/t silver, 1.8g/t gold, 3.62% lead,
and 7.07% zinc. Further exploration along the three kilometre
long Oliva vein is warranted as it now appears that
sulfide rich high grade intersections are found beneath upper near-barren
quartz vein (typical of the Oliva vein surface
expression). Mine development of the intermediate and Oliva
veins from the Recompensa mine is being considered.
Four additional holes were drilled into the Cantarranas
vein, two approximately 40 metres below the Hormiguera production (ST10-154 and 155), and two
(ST10-135 and 136) east of a major normal fault located at the east face of
the Hormiguera development. The best results for
the former holes include 0.40 metres in ST10-155
grading 426g/t silver, 0.28g/t gold, 0.75% lead and 1.27% zinc. The latter
two holes were drilled below the base of the epithermal productive horizon
with non-economic results. Excellent potential still lies eastward and at
higher elevations on the Cantarranas vein, as
attested to by the Company's 2004 drilling and previous mine exploitation.
While the above holes were drilled to guide mine development, further
exploratory drilling is planned several hundred metres
east to test the vein continuity along strike.
Overall, the surface drilling program at Topia has
been extremely successful in providing guidance for increased mine development
and in demonstrating the continuity of silver-gold-lead-zinc mineralization
that will make a significant addition to the resource base and extend the
mine life at Topia.
Robert F. Brown, P Eng. and Vice President of Exploration for the Company is the Qualified Person for the Topia
mine, under the meaning of NI 43-101. A full QA/QC program is being followed
including the regular insertion of splits, blanks, and standards into the
core sampling sequence. All surface drill core was
assayed at the Company's assay lab in Guanajuato, independently managed by
SGS. Aspects of both mines relating to mining and metallurgy are overseen by
Charles Brown, Chief Operating Officer for Great Panther and its Mexican
subsidiary, Minera Mexicana El Rosario, S.A. de C.V.
For further information, please visit the Company website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303
or e-mail info@greatpanther.com.
ON BEHALF OF THE BOARD
"Robert A.
Archer"
Robert A. Archer, President & CEO
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 the Securities Act
(Ontario) (together, "forward-looking statements"). Such
forward-looking statements may include but are not limited to the Company's
plans for production at its Guanajuato and Topia
Mines in Mexico, exploring its other properties in Mexico, the overall
economic potential of its properties, the availability of adequate financing
and involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements expressed or
implied by such forward-looking statements to be materially different. Such
factors include, among others, risks and uncertainties relating to potential
political risks involving the Company's operations in a foreign jurisdiction,
uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, physical risks inherent in mining operations, currency
fluctuations, fluctuations in the price of silver, gold and base metals,
completion of economic evaluations, changes in project parameters as plans
continue to be refined, the inability or failure to obtain adequate financing
on a timely basis, and other risks and uncertainties, including those
described in the Company's Annual Report on Form 20-F for the year ended
December 31, 2009 and reports on Form 6-K filed with the Securities and
Exchange Commission and available at www.sec.gov and
Material Change Reports filed with the Canadian Securities Administrators and
available at www.sedar.com.
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