Silvermex Resources Ltd.

Published : April 19th, 2011

Starts Drilling at La Guitarra

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Silvermex Resources Starts Drilling at La Guitarra

Silvermex Resources Inc. ("Silvermex") (TSX: SLX) announces the commencement of a program of underground delineation and exploration drilling at its La Guitarra Mine in the Temascaltepec Mining District, Mexico State, Mexico. The diamond drill contractor has mobilized on site. The present program will consist of approximately 7,500 m of NQ core drilling.

The objective of the delineation drilling is to upgrade known resources to a reserve category, and to evaluate down dip and lateral extensions of existing ore chutes. The exploration drilling will concentrate on identifying new resources within the mine area. The new mine geological team on site has focused on identifying the key structural controls for the La Guitarra mineralization and is confident that the current drill program will be successful in identifying additional mineralization.

Drilling will focus on two different areas of the mine. Exploration drilling will concentrate on the central part of the mine where there is a major flexure in the structure with increased dilatancy. Historically, these dilatant zones have given better widths and grades of mineralization but have not been effectively used to locate new resources. Similar structural flexures have been identified along strike and down dip and will be the subject of future exploration programs.

The second area of focus is the San Rafael zone, along the southeast extension of the La Guitarra structure. This area has recently been dewatered and several crosscuts and drill stations have been prepared. This phase of drilling will aim to upgrade the known mineralization from an indicated resource to a reserve category, which will enable proper mine planning and resource extraction. Several holes will be drilled to test potential down plunge continuity to the mineralization.

The entire program is expected to take approximately three to four months to complete. A new QA/QC program has been initiated to improve and ensure the accuracy and reliability of the drill results. Controls include the insertion of appropriate standards, blanks and duplicate samples. Additionally, approximately 5% of the original samples will have a second split submitted to a second outside laboratory for check assaying. Assay results will be released periodically throughout the drill program.

The data disclosed in this news release have been reviewed and verified by Company Vice President of Exploration Robert Fraser, M.Sc., P.Geo. and Qualified Person as defined by National Instrument 43-101.


Company Profile

Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly qualified team of professionals from some of the most notable companies in the silver mining sector. The Company's portfolio of projects ranges from advanced stage exploration to production. Its core asset is the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico. Silvermex is currently working to increase production at the mine to full capacity and is conducting extensive exploration to further develop the district. Silvermex is well financed to further develop resources organically from its multiple projects as well as from the acquisition of additional assets that will drive production growth.


ON BEHALF OF THE BOARD
"Duane Nelson"

Duane Nelson
CEO & Director

For more information please visit the Company's website at
www.silvermexresources.com or contact Fiona Grant, Manager of Investor Relations at 604-682-4004.

 

 

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 LOBOS, OEST PROPERTY, MINA DE AGUA / SANTA ANA PROJECT, LETY, CERRO DE PLATA, EL RAYO, LA FRAZADA, SAN MARCIAL, PENASCO QUEMADO, ROSARIO and LETY in Mexico and TRANSVAAL PROPERTY in Canada.

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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