Great Panther Discovers And Develops 3 New Zones
At the Cata Clavo - Alto 2 vein north extension, exploration development on the 430 level, west of the recently reported mineral resource estimate, has advanced 66 metres along strike with an average width of 3.34 metres and average grades of 295g/t silver and 0.98g/t gold. Raise #738 from the 430 level to the 406 level on this zone is complete and along the 28 metres of the raise, the average width (raise width only) was 1.56 metres with average grades of 411g/t silver and 1.7g/t gold. Further underground drilling will be completed to assess the extent of the Alto 2 vein mineralization, both to the northwest and down dip.
In the Rayas area, the Santa Margarita vein is a hanging wall structure parallel to the main Veta Madre. Past work by the previous operator on the 345 level of development on the Santa Margarita vein was sub-economic but recent development by Great Panther on the 390 level intersected gold-rich mineralization in the vein. Initial development on the Santa Margarita vein on the 390 level indicates a "shoot" 52 metres long, 3.4 metres wide (average development width), with assays averaging 5.06g/t gold and 20g/t silver. Ramping on the Santa Margarita vein, to connect to the 435 level, intersected the mineralization along 28 metres of strike, with a 3.4 metre width, and assays averaging 5.3g/t gold and 33g/t silver. Along the second "leg" of the ramp, the zone has increased in strike length and changed from gold rich to gold-silver rich. The first portion of the second leg intersected mineralization along 38 metres, 3.45 metres wide, with assays averaging 5.31g/t gold and 31g/t silver, while the continuation of the same zone encountered mineralization along a further 26 metres, 3.45 metres wide (development width), with assays averaging 5.23g/t gold and 359g/t silver. The full extent of the Santa Margarita mineralization is unknown, although the vein is noted as being 300 metres long in the workings above. An underground drilling program is being planned and is scheduled to commence later in 2009. The Santa Margarita vein comprises two phases - a primary white quartz to breccia phase with electrum, and a second similar phase but with breccia clasts replaced by base metal minerals and acanthite (silver sulphide).
At Los Pozos, a portion of the Veta Madre between the Cata and Rayas Clavos, diamond drilling and a cross cut off of a new development ramp, intersected the Veta Madre mineralization across 12 metres horizontal (8.4 metres true width) grading 348g/t silver and 1.2g/t gold. On the 275 level, intersections of the vein in a series of underground exploratory drill holes indicate this zone to be approximately 65 metres along strike. The average grade of pillars remaining in old workings on the Los Pozos 275 level is 468g/t silver and 1.39g/t gold.
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