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Cours Or & Argent

Silvermex Resources Ltd.

Publié le 28 septembre 2011

Reports Interim Underground Drill Results From La Guitarra

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Silvermex Reports Interim Underground Drill Results From La Guitarra

Vancouver, BC, Canada - September 28, 2011 - Silvermex Resources Inc. ("Silvermex") (TSX: SLX) announces initial underground drill results from its La Guitarra mine, located in the Temascaltepec Mining District in the State of Mexico. A total of 37 underground drill holes have been completed for a total of 2,128 m. The drilling is part of a planned 7,500 m program to test various structures underground throughout the La Guitarra Mine.

Drilling to date has confirmed the presence of significant gold and silver values in extensions to existing stopes, which will be mined in the immediate future. Drilling has begun exploring the down dip exploration potential of the San Rafael Zone with visual indications of significant quartz veining. Partial assay results are discussed below.

The drill program is designed to confirm continuity to known mineralized zones, identify extensions both along strike and down dip, and test for presence of additional mineralized shoots. Assay results have been received for 29 of the 37 holes completed. "I am very excited by the positive results we have seen and our improved understanding of the ore body", stated Duane Nelson, CEO of Silvermex. "Drilling was delayed due to various reasons, including development delays, equipment delays and some mechanical breakdowns of our previous contractor's equipment. We have since rectified the situation by hiring a new contractor to complete the development and drill programs, which has resulted in improved performance and results".

The La Guitarra mine is divided into three sectors: the Northwest or Los Angeles Zone, the Central or La Cruz Zone and the Southwest Zone, referred to as San Rafael. Drilling in the Los Angeles Zone is focused on delineation of mineralized shoots for future production. Highlights of drilling in this area are intervals of 3.53 g/t Au and 87 g/t Ag over 1.35 m in hole GMU-99, and 1.29 g/t Au and 219.5 g/t Ag over 1.60 m in hole GMU-106. Los Angeles historically has had higher gold numbers than the rest of La Guitarra as there is a general zonation of higher to lower gold values from northwest to southeast.

At La Cruz, drilling is exploration-oriented looking for downward continuation of mineralization that had been mined in the past and to test for recently identified parallel structures. To date, drilling on the La Guitarra Vein itself did not return appreciable values in this area, however high assay results were returned over narrow widths from parallel structures in the hanging wall. These structures will be evaluated further to test continuity of economic mineralization. Elsewhere in the La Guitarra Mine these narrow parallel structures have been exploited due to their high gold and silver values and have made important contributions to the mine. Assays of note in the La Cruz area include 1.00 g/t Au and 296.3 g/t Ag over 0.8 m from hole LGS-01, and 68.41 g/t Au and 12,211 g/t Ag over 0.20 meters in hole LGS-02.

At San Rafael, where the majority of mining activity is currently focused, 15 holes have been completed and one is in progress. Assays are available for 9 holes. This first round of holes, the GMU series, was drilled as stope delineation/definition holes to assist mining. Two of the holes returned excellent results. GMU-97 returned 1.50 g/t Au and 401.0 g/t Ag over 0.20 m, and GMU-98 returned 0.90 g/t Au and 591.0 g/t Ag over 0.35 m. Based on these results, exploration drilling at depth is currently in progress.

All significant drill intercepts (defined as any mineralization grading a minimum of 150 g/t Ag equivalent) are presented in the following table:

Hole No

Azimuth

Dip

Length

From

To

Width

True Width

Au (g/t)

AG (g/t)

Ag Eq (g/t)

Los Angeles

GMU-95

196

-33

23.50

13.80

15.60

1.80

1.05

1.12

79.8

152.6

GMU-96

199

-30

19.50

8.70

9.15

0.45

0.25

0.70

443.0

488.5

GMU-99

74

-4

40.00

0.75

2.10

1.35

1.35

3.53

87.0

316.5

GMU-100

346

-38

14.50

3.50

4.50

1.00

0.90

1.70

51.0

161.5

GMU-101

66

0

42.00

NSV

GMU-102

174

-3

16.90

NSV

GMU-103

68

-3

34.00

NSV

GMU-104

3

-1

39.00

19.45

20.30

0.85

0.81

1.31

59.9

145.1

 

 

 

 

21.95

22.25

0.30

0.28

0.30

161.0

180.5

 

 

 

 

24.00

25.35

1.35

1.30

0.40

154.2

180.2

GMU-105

214

-32

12.40

NSV

GMU-106

257

-1

62.60

45.40

47.10

1.70

1.60

1.29

219.5

303.4

 

 

 

 

52.20

53.00

0.80

0.75

1.15

61.5

136.3

GMU-107

253..91

0

30.00

Assays Pending

GMU-108

253

-32

3.00

Assays Pending

GMU-109

260

0

 

In Progress

La Cruz

GMU-88

8.00

-18.00

25.00

4.60

6.00

1.40

1.20

1.40

170.0

259.7

 

 

 

 

11.40

12.00

4.00

1.00

0.80

299.0

364.0

GMU-90

336

-8

26.00

NSV

GMU-91

42

-26

14.80

1.20

3.05

1.85

1.40

1.85

143.7

201.3

LGS-01

74

-48

169.00

43.50

44.45

0.95

0.80

1.00

296.3

356.3

 

 

 

 

57.70

58.20

0.50

0.40

0.08

287.0

291.7

 

 

 

 

130.45

131.15

0.70

0.55

1.25

26.0

100.8

LGS-02

28

-60

90.00

1.35

1.65

0.30

0.20

68.41

12211.0

16315.6

 

 

 

 

58.40

58.60

0.20

0.15

0.11

152.0

158.8

 

 

 

 

87.10

88.15

1.05

0.90

1.58

6.0

100.7

LGS-03

42

-44

125.00

47.00

47.20

0.20

0.13

0.63

348.0

385.8

LGS-04

9

21

138.00

NSV

LGS-05

6

41

90.00

NSV

LGS-06

24

25

90.00

43.85

44.35

0.50

0.30

2.19

14.0

145.4

LGS-07

9

16

74.00

NSV

San Rafael

GMU-85

194

25

31.50

23.80

26.80

3.00

1.70

0.40

80.0

106.0

GMU-86

247

-58

40.00

NSV

GMU-87

267

2

52.00

NSV

GMU-89

236

10

31.50

NSV

GMU-92

197

-11

29.50

23.20

26.25

3.05

2.55

1.16

312.0

348.0

GMU-93

Abandoned

GMU-94

192

-25

31.00

Abandoned

GMU-97

244

-31

50.40

37.50

37.80

0.30

0.20

1.50

401.0

498.5

GMU-98

224

23

15.60

8.40

9.00

0.60

0.35

0.90

591.0

649.5

LGS-09

26

-53

80.00

Assays Pending

LGS-10

77

-43

85.0

Assays Pending

LGS-11

85

-29

102.0

Assays Pending

LGS-12

71

-73

105.0

Assays Pending

LGS-13

99

-58

140.0

Assays Pending

LGS-14

74

-43

155.0

Assays Pending

LGS-15

77

-59

 

In Progress

Ag eq @ 60:1 NSV No Signficant Values


The presence of high grade gold and silver mineralization in parallel structures to the La Guitarra Vein is highly encouraging as such zones have been very productive in the past. Follow-up drilling will investigate the full potential of these structures.

Drilling is ongoing with two drill rigs, one from a contractor and the second owned by the mine. A third drill rig has been requested and will be on site as soon as it is available from the contractor. As the program continues there will be an increased emphasis on exploration drilling, which will greatly assist in future mine planning.

Sampling of the drill core was overseen by one of the La Guitarra geologists who marked off the drill core at appropriate intervals based upon the geology and mineralization present. Sample intervals normally vary from 0.2 -- 1.0 m in length. No sample exceeded 1.5 m in overall length. All core samples were sent to Activation Laboratories Ltd. ("ActLabs") facilities in Zacatecas, Mexico. Assays for gold were done by 1 Assay Tonne Fire Assay AA Finish and 4 Acid ICP-AES for silver and other elements. Gold assays that exceed 5 g/t by AA are redone using a gravimetric finish. Silver assays in excess of 100 g/t are redone using Fire Assay Gravimetric. Four acid ICP analyses were conducted at the main laboratory of Actlabs in Ancaster, Ontario, Canada. Some work was completed at La Guitarra's own laboratory (Fire Assay Gravimetric Finish) with check assaying completed by ActLabs. Certified standards, blanks, and duplicate samples were inserted in every batch of 20 samples to ensure laboratory QA-QC performance.

Pursuant to National Instrument 43-101, Robert Fraser, P.Geo., Vice-President Exploration of Silvermex Resources Inc. is the Qualified Person (QP) responsible for the disclosure in this news release. Mr. Fraser has supervised the drill program contained in this news release and verified the data supporting such disclosure.

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, Investor Relations at 604-682-4004.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 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 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. Management has assumed that these will be our major projects going forward. Risks include that we are unable to satisfy environmental or other regulators, that we determine that our resources are not commercially viable, or that we have difficulties due to unavailability of labour or equipment.

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.

 

 

Silvermex Resources Ltd.

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CODE : SLX.TO
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Silvermex Res. est une société de production minière d'argent basée au Canada.

Silvermex Res. est productrice d'argent, d'or au Mexique, et détient divers projets d'exploration au Mexique.

Son principal projet en production est LA GUITARRA & SAN RAFAEL au Mexique et ses principaux projets en exploration sont TRANSVAAL PROPERTY et OEST PROPERTY au Canada et MINA DE AGUA / SANTA ANA PROJECT, LETY, LOBOS, CERRO DE PLATA, EL RAYO, PENASCO QUEMADO, SAN MARCIAL, LA FRAZADA, ROSARIO et LETY au Mexique.

Silvermex Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 21,7 millions CA$ (21,3 millions US$, 17,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 25 février 2011 à 1,03 CA$, et son plus bas niveau récent le 30 décembre 2011 à 0,35 CA$.

Silvermex Res. possède 44 207 000 actions en circulation.

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Financements de Silvermex Resources Ltd.
08/02/2010Fully Subscribed Private Placement
Nominations de Silvermex Resources Ltd.
18/05/2011Appoints New CFO
02/03/2011Appoints New Investor Relations Manager
02/03/2010Appoints New Chief Financial Officer
Rapports Financiers de Silvermex Resources Ltd.
16/05/2012Announces Q1 2012 Financial Results
27/03/2012Reports Positive Financial Performance for the Year 2011
16/08/2011(La Guitarra & San Rafael)Achieves Positive Cash Flow and Low Cost Production at its L...
05/04/2011Reports Financial Results for 2010
Projets de Silvermex Resources Ltd.
27/03/2012(La Guitarra & San Rafael)Intersects High Grade Gold at La Guitarra - 306.99 g/t Au an...
26/03/2012(La Guitarra & San Rafael)Surface Drilling Continues to Intersect High-Grade Mineraliz...
14/03/2012(La Guitarra & San Rafael)Underground Drilling Continues To Extend Mineralization At S...
01/03/2012(Penasco Quemado)Initiates Metallurgical Testing of Penasco Quemado Project
26/09/2011(La Guitarra & San Rafael)Begins Surface Drill Program at La Guitarra
25/04/2011(La Guitarra & San Rafael)First Quarter of Production at La Guitarra Ahead of Budget
19/04/2011(La Guitarra & San Rafael)Starts Drilling at La Guitarra
31/03/2011(La Guitarra & San Rafael)Reports on La Guitarra Mine Production
21/06/2010(Rosario)Provides Update on Exploration and Project Developments
14/05/2010(San Marcial)3000 Meter Core Drilling Program to Commence on the San Marc...
11/05/2010(San Marcial)High-grade trench sampling assays. Highlights include: 9.70 ...
05/11/2008(San Marcial)Resource Summary And Corporate Update
29/05/2008(San Marcial)3,700 Meter Core Drilling Program Commences on the San Marci...
17/04/2008(San Marcial)Extends Strike Length at San Marcial to 3,500 Meters
18/03/2008(Penasco Quemado)Drills 52.5 Meters With 122 G/T Ag And 0.14% Cu On Its Peñas...
22/02/2008(Lety)Grades of 137.8 g/t silver and 17.85% zinc over 1.55 meters ...
11/02/2008(Penasco Quemado)Drill Program Completed At Peñasco Quemado Property
11/02/2008(Penasco Quemado)DRILL PROGRAM COMPLETED AT PEÑASCO QUEMADO PROPERTY
23/01/2008(Penasco Quemado)Drilling Commences at Penasco Quemado Property
28/11/2007(El Rayo)Acquires El Rayo Claims In Mexico Underground Channel Sampli...
23/11/2007(San Marcial)San Marcial Technical Report
Communiqués de Presse de Silvermex Resources Ltd.
29/06/2012Receives Final Court Order Approving Plan of Arrangement
26/06/2012Securityholders Approve Plan of Arrangement with First Majes...
06/06/2012to Resume Trading on OTC Link
30/05/2012Obtains Interim Order For Plan Of Arrangement
03/04/2012First Majestic Announces Friendly Acquisition Of Silvermex R...
02/04/2012Files Form 40-F Registration Statement With the SEC
13/03/2012Reports on OTC Link Trading Status
01/03/2012Aims To Deliver Resource And Production Growth In 2012
15/02/2012Delivers Production Growth in Fourth Quarter 2011
29/07/2010Bloomberg Reports on Silver Market
28/03/2010Emerging Silver Producer - A Silvermex Update...53
18/12/2009Reports Underground Sampling Assays. Highlights Include: 2m ...
15/12/2009Michael Callahan, Prior Hecla Executive, Appointed as New Pr...
04/12/2009Completes acquisition of Rosario Project
06/11/2009Elects New Directors
29/09/2009Contact Change Alert
22/09/2009to Attend the Silver Summit
02/02/2009Closes Brokered Financing Of $1,500,000
26/12/2008announces preliminary assessment and financing
03/09/2008Corporate Update
16/07/2008Commences Drill Program At El Rayo Project, Sonora, Mexico
24/04/2008Company Update
10/04/2008Closes Financing Of $2,906,000
25/03/2008Acquires the La Frazada Mine, Nayarit, Mexico
19/11/2007Short Form Offering Completed
09/10/2007 Options San Marcial Property from Silver Standard
21/09/2007To participate at the Silver Summit, Idaho and related Silve...
09/07/2007Acquires Lety Property In Durango
05/04/2007Closes Financing
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