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GPR - Great Panther extends Gold-rich Zones with Surface Drilling
at Topia Mine
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GREAT PANTHER RESOURCES LIMITED (TSX: GPR) is pleased to announce that
surface drilling in portions of the Animas vein at the Company's 100%
owned Topia Silver-Lead-Zinc Mine in Durango, Mexico is continuing to
demonstrate good gold grades. The best intersection in this phase of
the program, from hole ST07-36, returned 2.58 g/t Au over 2.50 metres,
while individual samples in other holes returned assays up to 12.70 g/t
Au.
Current mining on the Animas vein is being conducted on three levels,
1420, 1430, and 1550 (note that levels are named according to metres
above mean sea level, so level 1550 is 130m higher than level 1420).
Underground sampling from levels 1430 down to 1380 showing excellent
gold grades was reported on October 12, 2006 and the surface drilling
is designed to test the vein along strike and to depth. Drill holes
ST06-030, 031, and 032 targeted the Animas vein east of the 1430
workings, and below the 1550 level. All three holes were successful,
with the best intersection in ST06-032 of 2.43g/t gold, 315g/t silver,
0.9% lead, and 9.0% zinc over 0.4m (see summary of results in the table
below, and
http://www.greatpanther.com/i/pdf/Topia_SurfaceDrilling_Mar07.pdf
on the Company's web-site for drill hole location map).
Drill hole ST06-033 was a test of the Animas vein at depth, and
intersected the vein at approximately the 1300 metre level, well below
existing workings, with 2.85 g/t gold and 42.9 g/t silver over 0.55m.
Approximately 350 metres along strike to the east of these holes,
ST07-034 and 035 intersected the Animas vein at the 1400 level in a
previously untested area, returning low grade values in both drill
holes. A further 200 metres east, hole ST07-036 intersected a
silicified breccia zone returning 2.58g/t gold over 2.50 metres, as
mentioned above. This brecciation likely occurs along the Animas vein
structure, and will be further drill tested, both for the extent of the
brecciation, and veining.
Hole ST07-037 was drilled east of a major fault and no recognizable
structures were identified. ST07-038 did not reach its primary target,
the Veta Madre, but did intersect a parallel, although very narrow
(0.08m) structure, potentially the Hipolito vein, which returned
0.57g/t gold, 1080g/t silver, 2.8% lead, and 1.1% zinc. Due to the
high silver grade of this vein, it will be tested farther along strike
to see if it widens out.
In addition to the Animas vein drilling, the eastern and depth extent
of the Veta Madre was targeted by two holes. Hole ST07-039 was lost
due to bad ground but ST07-040 intersected the Veta Madre, returning
5.08g/t gold, 149g/t silver, 2.6% lead and 0.8% zinc over 0.6m. Follow
up drilling is planned around this intersection.
The ongoing surface drilling program at Topia, in conjunction with the
underground drilling, is designed to double the NI 43-101 resources by
the end of the year. The first NI 43-101 resource for the mine,
reported on December 28, 2006, contained 3,625,603 oz of Ag Equivalent
in the Measured and Indicated categories and an Inferred Resource of
1,418,900 oz of Ag Equivalent.
Highlights of Surface Drilling:
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Core True
From To Width width Au Ag Pb Zn
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Drill Hole (m) (m) (m) (m) ZONE g/t g/t % %
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ST06-030 62.50 62.90 0.35 0.32 Animas 1.89 170 0.35 0.15
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ST06-032 94.40 94.80 0.40 0.20 Animas 2.43 315 0.90 9.00
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ST06-033 184.00 184.55 0.55 0.39 Animas 2.85 43 0.33 0.24
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including 184.45 184.55 0.10 0.07 12.70 185 1.80 1.30
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ST07-036 58.00 60.50 2.50 2.25 Animas 2.58 6 greater 0.07
than
0.01
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ST07-038 150.35 150.43 0.08 0.06 Hipolito 0.57 1,080 2.80 1.10
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ST07-040 80.60 81.20 0.60 0.30 Veta 5.08 149 2.60 0.80
Madre
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Both the surface and underground drilling at Topia have been contracted
to BDW Drilling of Guadalajara, Mexico. Analysis of the aforementioned
drill core was performed by SGS Minerals Services, ISO 9001 Registered,
in their Durango, Mexico facilities.
Aspects of the Topia Mine relating to mining and metallurgy are
overseen by Ing. Francisco Ramos S�nchez, Vice-President of Operations
for Great Panther and its wholly owned Mexican subsidiary, Minera
Mexicana El Rosario, S.A. de C.V. (MMR). Robert F. Brown, P.Eng. and
Vice-President of Exploration for Great Panther and MMR is designated
as the Qualified Person for the Topia Mine Project under the meaning of
NI 43-101, and has reviewed this news release.
For further information please contact Brad Aelicks or Don Mosher at
telephone 604 685 6465, fax 604 685 9744 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, 2005 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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Copyright (c) 2007 GREAT PANTHER RESOURCES LIMITED (GPR) All rights
reserved. For more information visit our website at
http://www.greatpanther.com/ or send mailto:info@greatpanther.com
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