Friday, December 18, 2009 |
TSX-V:SMR |
Silvermex Reports Underground Sampling Assays. Highlights Include: 2m of 41.0 g/t Gold, 123.0 g/t Silver and 6.4% Base Metals |
Silvermex Resources Ltd. (TSXV - SMR) (the "Company" or "Silvermex") is pleased to announce the previously unreported results of a detailed underground channel sampling program of the historic Plomosas-La Cruz Mine completed by the previous owner in 2008. This information was derived as Silvermex continues to examine and analyze vast amounts of data compiled from past exploration programs at the Rosario project.
The past-producing Plomosas Silver/Gold/Lead/Zinc mine is strategically located within 5 kilometers of Silvermex's San Marcial Silver Project in south eastern Sinaloa State, Mexico.
The project area is located within the Metallogenetic Province of the Sierra Madre Occidental, which is represented by a thick package of extrusive volcanics composed of a sequence of andesitic and rhyolitic units represented by flows, ignimbrites and tuffs, resting on a pre existing basement of Precambrian, Paleozoic, Mesozoic metamorphic, sedimentary and igneous rocks.
Mineralization of interest in the Plomosas-La Cruz Mine is related to the discordant contact between the Plomosas Andesite tuffs and rhyolitic ignimbrite units and andesitic pyroclastic flows, and is hosted in heterolithic breccias, fractured lavas and pyroclastic flows, occurring in the form of massive sulphide lenses, in hydrothermal breccias, or in stockwork zones. The complex fault planes of the Plomosas Fault Structure constitute the principal structural control for the metal bearing hydrothermal fluids.
Plomosas-La Cruz Mine - Select Underground Channel Samples taken from Levels 775 to 825
Table 1. Significant Sample Results, north wall Level 775.The north wall provided 16 cut channel samples, 14 of which gave results with interesting values for Au, Ag, Cu, Zn, and Pb, as shown in the following table of results.
| SAMPLE |
WIDTH |
g/t |
% |
| Au |
Ag |
Cu |
Pb |
Zn |
| 869 |
2.00 |
40.96 |
123 |
0.578 |
3.11 |
2.72 |
| 870 |
2.00 |
4.56 |
239 |
0.930 |
1.54 |
0.52 |
| 871 |
2.00 |
9.73 |
235 |
0.862 |
0.23 |
0.98 |
| 872 |
2.00 |
1.04 |
59 |
0.181 |
0.21 |
1.44 |
| 874 |
2.00 |
1.83 |
70 |
1.100 |
0.26 |
0.38 |
| 875 |
1.40 |
2.94 |
53 |
1.501 |
0.12 |
2.58 |
| 876 |
2.00 |
0.27 |
40 |
1.966 |
0.12 |
0.25 |
| 877 |
2.00 |
0.51 |
47 |
2.863 |
0.08 |
1.01 |
| 878 |
2.00 |
2.05 |
45 |
0.984 |
0.67 |
1.42 |
| 880 |
2.00 |
22.74 |
6 |
0.113 |
6.55 |
4.91 |
| 881 |
1.60 |
0.25 |
13 |
0.014 |
0.71 |
2.52 |
| 1261 |
2.00 |
5.15 |
259 |
3.854 |
4.54 |
15.78 |
| 1262 |
2.00 |
6.38 |
61 |
0.373 |
0.43 |
1.36 |
| 1263 |
1.55 |
19.55 |
218 |
0.777 |
0.42 |
1.28 |
Table 2. Significant Sample Results, northeast wall on Level 775.Eleven samples were collected from the northeast wall from a mineralized structure striking 302 � and dipping 41� SW. The results of these samples are listed below.
| SAMPLE |
WIDTH |
g/t |
% |
| Au |
Ag |
Cu |
Pb |
Zn |
| 882 |
1.80 |
4.27 |
148 |
0.109 |
0.71 |
2.46 |
| 883 |
0.75 |
36.41 |
1536 |
0.516 |
17.85 |
11.33 |
| 884 |
1.00 |
0.91 |
14 |
0.295 |
0.53 |
3.63 |
| 885 |
1.00 |
4.08 |
125 |
0.083 |
11.14 |
36.6 |
| 886 |
0.50 |
1.04 |
43 |
0.032 |
4.87 |
7.31 |
| 890 |
1.00 |
0.2 |
<5 |
0.013 |
0.44 |
1.24 |
| 891 |
1.20 |
2.57 |
38 |
0.037 |
29.3 |
19.47 |
| 892 |
0.50 |
1.72 |
27 |
1.554 |
1.08 |
0.84 |
| 893 |
1.00 |
0.03 |
<5 |
0.004 |
0.43 |
0.36 |
| 894 |
2.00 |
2.85 |
44 |
0.027 |
37.74 |
26.33 |
| 895 |
0.35 |
2.45 |
52 |
0.024 |
35.57 |
27.1 |
Table 3. Significant Sample Results, west wall Level 775Level 775 - Channel sampling of the west wall to determine the grade of the structure as it dips westerly returned 7 samples with values of interest, as indicated in Table 17 below.
| SAMPLE |
WIDTH |
g/t |
% |
| Au |
Ag |
Cu |
Pb |
Zn |
| 862 |
1.85 |
1.53 |
58 |
0.302 |
2.98 |
6.10 |
| 863 |
0.55 |
2.17 |
72 |
0.237 |
3.43 |
6.84 |
| 864 |
0.90 |
2.79 |
<5 |
0.09 9 |
0.13 |
0.28 |
| 865 |
2.00 |
2.95 |
98 |
0.149 |
1.77 |
0.55 |
| 866 |
2.00 |
25.39 |
611 |
1.267 |
2.56 |
11.35 |
| 867 |
2.00 |
17.96 |
379 |
0.255 |
0.82 |
5.52 |
| 868 |
0.50 |
5.59 |
74 |
0.208 |
0.39 |
8.34 |
The mineralization in this part of the Plomosas System occurs in the immediate hanging wall of the Plomosas Fault Structure in the form of a stockwork zone with a general trend that ranges between 315 to 325� with apparent dips from 38-45�SW.
As part of the 2007-2008 Rosario exploration programs, the previous operator conducted underground mapping, as well as chip and saw cut channel sampling of accessible historic reserve blocks between the 862 to 775 levels in the Plomosas-La Cruz Mine to confirm the historic sample data. A total of 121 samples were collected and sent for analysis to Acme Laboratories in Vancouver, BC. In 2008, when the majority of underground sampling was carried out, duplicate, standard and blank samples were inserted in every batch of 30 samples to ensure laboratory QA-QC performance. Analytical results were plotted on the respective mine level plans and are also listed in the 2008 project assay database.
Qualified PersonThe contents of this press release were reviewed and approved by James McCrea, P.Geo. who is the Qualified Person for the Roisario Project under the guidelines of National Instrument 43-101.
For Further information, contact:
Duane Nelson,
Director, CEO
520-609 Granville St.
Vancouver, BC, Canada
Tel: 604-638-8971
www.silvermexresources.cominfo@silvermexresources.comNeither 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.
- View News Release in PDF Format:
http://www.silvermexresources.com/i/pdf/2009-12-18_NR.pdf
- 37 KB in size, approx. 8 seconds to download at 56.6Kbps