Silvermex Resources Ltd.

Published : May 11th, 2010

High-grade trench sampling assays. Highlights include: 9.70 m of 520.9 g/t Ag, and 1.75 m of

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Keywords :   Canada | Diamond | G Mexico | Gold | Mexico | Silver |


 

Tuesday, May 11, 2010

TSX-V:SMR              

Silvermex reports high-grade trench sampling assays. Highlights include: 9.70 m of 520.9 g/t Ag, and 1.75 m of 1,770 g/t Ag


Silvermex Resources Ltd ("Silvermex") announces the latest results of its surface trenching program on its optioned San Marcial Property in southern Sinaloa, Mexico. This successful trenching program provided numerous high grade results, 18 of the samples assayed over 300 g/t silver. Highlights include 520.9 g/t silver across 9.70 meters and 1,770 g/t silver over 1.75 meters.

The results confirm that the high grade silver mineralization occurs over significant widths and over the entire strike length of the structure that has been delineated. President Michael Callahan reports; "This was a very positive step in our 2010 program to advance the San Marcial project. These results are very exciting as they replicate the high grades we have seen in past drilling programs over the entire strike length of the known zone".

The spring 2010 trenching program included the following results:

TRENCH #1 Sample Width (m) g/t Ag % Pb % Zn
  9001 1.6 398 0.17 1.11
  9004 2 124 0.09 0.31
  9006 0.9 219 0.38 0.58
  9007 1.2 154 0.21 0.57
  9008 1 232 0.13 0.32
  Avg 11.95 150.8 0.13 0.44

TRENCH #2 Sample Width (m) g/t Ag % Pb % Zn
  9009 1.75 1,770 0.32 0.66
  9010 2 381 0.13 0.2
  9011 1.35 175 0.1 0.13
  9012 1.55 248 0.14 0.29
  Avg 6.65 673.7 0.18 0.33

TRENCH #3 Sample Width (m) g/t Ag % Pb % Zn
  9051 2 662 0.25 0.6
  9052 2 239 0.36 0.57
  9053 1.9 165 0.4 0.47
  9054 2 851 0.3 0.36
  9055 1.8 686 0.12 0.27
  Avg 9.7 520.9 0.29 0.46

TRENCH #3A Sample Width (m) g/t Ag % Pb % Zn
  9047 1.35 436 0.56 0.56
  9048 2 708 1.09 0.31
  9048A 2 324 0.35 0.19
  9049 1.3 607 0.15 0.27
  9050 1.7 414 0.16 0.56
  Avg 8.35 496.5 0.49 0.37

TRENCH #3B Sample Width (m) g/t Ag % Pb % Zn
  9038 1.5 203 0.23 0.63
  9039 1.6 110 0.3 0.39
  9040 1.7 135 0.28 0.52
  9041 2 350 0.15 0.43
  9042 2 588 0.05 0.52
  9043 2 105 0.08 0.32
  Avg 10.8 258.9 0.17 0.46

TRENCH #4 Sample Width (m) g/t Ag % Pb % Zn
  9013 1.35 87.2 0.12 0.15
  9014 2 56.5 0.06 0.1
  9015 2 71.3 0.06 0.16
  9016 2 38.7 0.07 0.13
  9017 2 90.7 0.08 0.13
  9018 2 136 0.2 0.18
  9019 2 128 0.27 0.26
  Avg 6 118.2 0.18 0.19

TRENCH#4B Sample Width (m) g/t Ag % Pb % Zn
  9020 1.5 84 0.12 0.18
  9021 1.6 46.1 0.13 0.2
  9022 1.75 46.1 0.16 0.27
  9023 2.1 60.8 0.17 0.36
  9024 2 90 0.08 0.2
  9025 2 131 0.27 0.24
  9026 1.1 132 0.22 0.25
  9027 2 250 0.33 0.29
  9028 1.3 272 0.3 0.23
  9029 1 191 0.28 0.23
  9030 1.5 187 0.34 0.29
  9034 1.6 91.9 0.19 0.31
  Avg 12.5 164.7 0.25 0.26

TRENCH #5 Sample Width (m) g/t Ag % Pb % Zn
  9069 2 368 0.2 0.22
  9070 2 60.1 0.16 0.27
  9071 2 131 0.19 0.35
  9072 2 73.7 0.18 0.33
  9073 2 91.8 0.13 0.43
  9074 2 84.1 0.21 0.45
  9075 1.5 210 0.2 0.31
  Avg 13.5 143.1 0.18 0.34

TRENCH #6 Sample Width(m) g/t Ag % Pb % Zn
  9076 1.7 327 0.14 0.3
  9077 2 71 0.08 0.24
  Avg 3.7 188.6 0.11 0.27

TRENCH #6B Sample Width (m) g/t Ag % Pb % Zn
  9078 2 64.8 0.04 0.12
  9079 1.8 25.6 0.09 0.15
  9080 1.65 95.4 0.11 0.24
  9081 1.55 178 0.24 0.22
  Avg 3.2 135.4 0.17 0.23


A total of 7 trenches with an aggregate length of 118 meters were excavated along 250 meters of strike of the San Marcial Structure. Trenches were oriented normal to the trend of the structure. 77 Channel samples were cut from the trenches using a handheld Diamond saw with sample lengths varying from 0.90 to 2.20 meters in length.

The San Marcial project forms part of the Company's' newly consolidated Rosario mining concession which totals 16,279 ha (62.85 sq. miles). The concession includes the past producing Plomosas and San Juan mines which were operated by Grupo Mexico until 2001.

The San Marcial Project is situated in south eastern Sinaloa State, along the western edge of the Sierra Madre Occidental geological province. This linear belt of volcanic rocks, approximately 1,500 km long by 250 km wide, is known to host many important gold and silver producing mines and prospects. The province is divided into two main Tertiary volcanic units referred to as the Upper and Lower Volcanic groups, both of which are separated unconformably by a period of erosion and associated with local felsic intrusive activity. The contact between the two volcanic groups is highly prospective for precious metal mineralization, as a majority of the other known gold and silver mines and prospects in the belt occur close to, if not just below, the contact interval.

At San Marcial mineralization occurs along or adjacent to the contact between the upper and lower volcanic groups in a zone of faulting and brecciation varying from a few centimetres to over 10 meters in width over a strike length of at least 300 meters. The structure is open to both the northwest and southeast. The breccia is characterized by various amounts of silicification and impregnated by minor blebs, thread, stringers and fine disseminations of pyrite, sphalerite and galena. There is a marked increase in silicification in zones of higher grade silver mineralization. Weak sulphide mineralization persists into the footwall below the lower silver rich structure. Overall sulphide content is in the order of 3-5%.

All samples were sent to ALS Chemex Laboratories sample preparation facility in Guadalajara Mexico with final analysis done at their facilities in Vancouver, BC. Standard, blank, and duplicate samples were inserted in every batch of 25 samples to ensure laboratory QA-QC performance. Assaying for gold and silver was by fire assay and other elements by four acid ICP-AES.

Qualified Person

Pursuant to National Instrument 43-101 Robert Fraser, M.Sc., P.Geo., Vice-President Exploration of Silvermex Resources Ltd. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Silvermex Resources Ltd. employees and contractors.

On Behalf of the Board of Directors of
Silvermex Resources Ltd.

Duane Nelson
CEO & Director

For Further information, contact:

Duane Nelson
Director, Chief Executive Officer
Vancouver, BC, Canada
Tel: 604-638-8971

duane@silvermexresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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 our 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.


 

Copyright 2009
Silvermex Resources Ltd.

Email: info@silvermexresources.com

Silvermex Resources Ltd.
Suite 520 - 609 Granville St.
Vancouver, BC, Canada V7Y 1G5

Phone: (604) 682-4004
Fax: (604) 682-4009

Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Silvermex Resources Ltd.

PRODUCER
CODE : SLX.TO
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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.

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Financings of Silvermex Resources Ltd.
2/8/2010Fully Subscribed Private Placement
Nominations of Silvermex Resources Ltd.
5/18/2011Appoints New CFO
3/2/2011Appoints New Investor Relations Manager
3/2/2010Appoints New Chief Financial Officer
Financials of Silvermex Resources Ltd.
5/16/2012Announces Q1 2012 Financial Results
3/27/2012Reports Positive Financial Performance for the Year 2011
8/16/2011(La Guitarra & San Rafael)Achieves Positive Cash Flow and Low Cost Production at its L...
4/5/2011Reports Financial Results for 2010
Project news of Silvermex Resources Ltd.
3/27/2012(La Guitarra & San Rafael)Intersects High Grade Gold at La Guitarra - 306.99 g/t Au an...
3/26/2012(La Guitarra & San Rafael)Surface Drilling Continues to Intersect High-Grade Mineraliz...
3/14/2012(La Guitarra & San Rafael)Underground Drilling Continues To Extend Mineralization At S...
3/1/2012(Penasco Quemado)Initiates Metallurgical Testing of Penasco Quemado Project
9/26/2011(La Guitarra & San Rafael)Begins Surface Drill Program at La Guitarra
4/25/2011(La Guitarra & San Rafael)First Quarter of Production at La Guitarra Ahead of Budget
4/19/2011(La Guitarra & San Rafael)Starts Drilling at La Guitarra
3/31/2011(La Guitarra & San Rafael)Reports on La Guitarra Mine Production
6/21/2010(Rosario)Provides Update on Exploration and Project Developments
5/14/2010(San Marcial)3000 Meter Core Drilling Program to Commence on the San Marc...
5/11/2010(San Marcial)High-grade trench sampling assays. Highlights include: 9.70 ...
11/5/2008(San Marcial)Resource Summary And Corporate Update
5/29/2008(San Marcial)3,700 Meter Core Drilling Program Commences on the San Marci...
4/17/2008(San Marcial)Extends Strike Length at San Marcial to 3,500 Meters
3/18/2008(Penasco Quemado)Drills 52.5 Meters With 122 G/T Ag And 0.14% Cu On Its Peñas...
2/22/2008(Lety)Grades of 137.8 g/t silver and 17.85% zinc over 1.55 meters ...
2/11/2008(Penasco Quemado)Drill Program Completed At Peñasco Quemado Property
2/11/2008(Penasco Quemado)DRILL PROGRAM COMPLETED AT PEÑASCO QUEMADO PROPERTY
1/23/2008(Penasco Quemado)Drilling Commences at Penasco Quemado Property
11/28/2007(El Rayo)Acquires El Rayo Claims In Mexico Underground Channel Sampli...
11/23/2007(San Marcial)San Marcial Technical Report
Corporate news of Silvermex Resources Ltd.
6/29/2012Receives Final Court Order Approving Plan of Arrangement
6/26/2012Securityholders Approve Plan of Arrangement with First Majes...
6/6/2012to Resume Trading on OTC Link
5/30/2012Obtains Interim Order For Plan Of Arrangement
4/3/2012First Majestic Announces Friendly Acquisition Of Silvermex R...
4/2/2012Files Form 40-F Registration Statement With the SEC
3/13/2012Reports on OTC Link Trading Status
3/1/2012Aims To Deliver Resource And Production Growth In 2012
2/15/2012Delivers Production Growth in Fourth Quarter 2011
7/29/2010Bloomberg Reports on Silver Market
3/28/2010Emerging Silver Producer - A Silvermex Update...53
12/18/2009Reports Underground Sampling Assays. Highlights Include: 2m ...
12/15/2009Michael Callahan, Prior Hecla Executive, Appointed as New Pr...
12/4/2009Completes acquisition of Rosario Project
11/6/2009Elects New Directors
9/29/2009Contact Change Alert
9/22/2009to Attend the Silver Summit
2/2/2009Closes Brokered Financing Of $1,500,000
12/26/2008announces preliminary assessment and financing
9/3/2008Corporate Update
7/16/2008Commences Drill Program At El Rayo Project, Sonora, Mexico
4/24/2008Company Update
4/10/2008Closes Financing Of $2,906,000
3/25/2008Acquires the La Frazada Mine, Nayarit, Mexico
11/19/2007Short Form Offering Completed
10/9/2007 Options San Marcial Property from Silver Standard
9/21/2007To participate at the Silver Summit, Idaho and related Silve...
7/9/2007Acquires Lety Property In Durango
4/5/2007Closes Financing
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