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Great Panther Silver Limited (GPR)
Market: CDN Consolidated
$ 1.13
Sep 30, 2014, 5:39 PM EDT
Change: -0.04 (-3.42%)
Volume: 103,193
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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 1, 2005) - GREAT PANTHER RESOURCES LIMITED (TSX VENTURE:GPR) ("the Company") is pleased to announce that the Company's first surface diamond drilling program at its Guanajuato Mine in Guanajuato, Mexico has intersected bonanza grade silver and above average gold within the Veta Madre vein structure. Highlights of the program include 692 g/t silver and 5.17 g/t gold over 5.8 metres and 1,096 g/t silver and 4.15 g/t gold over 2.5 metres.

The drilling, comprising 1,163.3 metres in six holes, was designed to duplicate and surround a lone 1989 drill hole (#317) that intersected a 5.35 metre wide zone grading 3.34 g/t Au and 81.5 g/t Ag, including 10.65 g/t gold and 165 g/t silver over 1.55 metres. The drilling was completed under and northwest of the Guanajuatito ramp along the trend of the Veta Madre, approximately one kilometre northwest of the famous Valenciana Mine (now owned by Great Panther).

The holes were drilled on four section lines at 50 metre intervals, covering a strike length of 150 metres. Two styles of mineralization were noted in the drill holes: silver-gold mineralization in the Veta Madre itself and a previously unrecognized zone of gold-arsenic-antimony mineralization in the hanging wall. Both zones are epithermal in nature, and likely represent separate pulses of mineralization.

In this part of the mine complex, the Veta Madre is manifested as a silica breccia at the contact between the hanging wall diorite and the footwall sediments. Hole GTTO-05-004 was drilled to test the zone of mineralization in hole 317, mentioned above. Hole 004 intersected a 7.3 metre wide vein breccia, interpreted as the Veta Madre, of which 5.8 metres (4.1 metre true width) assayed 692 g/t silver and 5.17 g/t gold. Fifty metres along strike to the southeast, hole GTTO-05-005 intersected a 3.4 metre thick section of the same Veta Madre breccia, with a 2.5 metre (1.77 metre true width) portion assaying 1,096 g/t silver and 4.15 g/t gold. A further 50 metres along strike to the southeast, hole GTTO-05-006 intersected 7.5 metres of the Veta Madre breccia with a 1.5 metre (1.06 metre true width) portion assaying 209 g/t silver and 1.55 g/t gold. The most northwesterly holes, GTTO-05-001 & 002, as well as GTTO-05-003, drilled 50 metres updip from hole 004, did not intersect the Veta Madre breccia. Details of significant intersections are listed below.

The gold-arsenic-antimony mineralization consists of a 10-30 metre thick (estimated true width) zone of quartz-pyrite veinlets within an extensive stockwork/breccia in the hanging wall diorite and was intersected in all six holes. Although gold values in this zone were mostly below 1 g/t in the drilling, the holes may be too high in the epithermal system, with the possibility of better mineralization at depth. As such, the hanging wall diorite breccia is a significant, previously un-assayed, gold target which will be followed up by surface and underground mapping, rock geochemistry and further drilling. Elsewhere in the mine, stockwork/breccia zones can achieve thicknesses of 30 metres or more and have historically provided substantial tonnages of silver-gold mineralization amenable to bulk underground mining methods.

In the short term, the Veta Madre breccia forms the more appealing target as the drill holes show that it continues with excellent widths and grades below previous workings at the Guanajuatito ramp. The aforementioned intersections occurred at a vertical depth of 100-120 metres below surface. The Veta Madre is known to extend more than 700 metres vertically (approximately 1,000 metres down dip) from surface. Mineralized 'shoots' within the structure are often continuous to depth, which bodes well for these new intersections as there has been no drilling or underground development below them. The Guanajuatito ramp provides easy access to this high grade mineralization and only a minor amount of mining has taken place in the past. The underground workings here will be re-sampled and surveyed as part of the Company's ongoing silver-gold resource evaluation.


Highlights of Diamond Drilling:
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                                                   True
                             From      To  Width  Width    Ag     Au
Hole No.            Zone       (m)     (m)    (m)    (m) (g/t)  (g/t)
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GTTO-05-001   HW breccia    108.0   113.2    5.2    5.2     -   1.02
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GTTO-05-002   HW breccia    115.0   118.0    3.0    2.7     -   0.27
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GTTO-05-003   HW breccia     84.5    93.5    9.0    9.0     -   0.20
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GTTO-05-004   HW breccia     88.0   101.0   13.0    9.2     -   0.74
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GTTO-05-004     V. MADRE    131.7   137.5    5.8    4.1   692.  5.17
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including                   131.7  133.15   1.45          648.  4.49
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and                        133.15  134.65    1.5          330.  2.55
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and                        134.65  135.05    1.4          682.  5.59
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and                        135.05   137.5   1.45        1,120.  8.17
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GTTO-05-005   HW breccia    150.5   161.0   10.5    7.4     -   0.44
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GTTO-05-005     V. MADRE    110.5   113.0    2.5   1.77 1,096.  4.15
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including                   110.5   111.7    1.2          767.  3.96
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and                         111.7   113.0    1.3        1,400.  4.32
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GTTO-05-006   HW breccia     83.5    88.0    4.5    3.2     -   0.26
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GTTO-05-006     V. MADRE    113.5   115.0    1.5   1.06   209.  1.55
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Samples were assayed at ALS Chemex Labs in Vancouver and diamond drilling was contracted to BDW Drilling Mexico, of Guadalajara. Robert F. Brown, P.Eng and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine Project, under the meaning of NI43-101, and has reviewed these results.

The Company recently purchased a 100% interest in the Guanajuato Mine, historically one of the largest silver producers in Mexico. The Guanajuato district is reported to have produced 1.2 billion ounces of silver and 4.5 million ounces gold. Great Panther's Guanajuato Mine encompasses more than 4 kilometres of strike length on the core of the Guanajuato silver-gold camp.

ON BEHALF OF THE BOARD

Robert A. Archer, P.Geo., President & CEO

SEC 20-F Statement Filed; Standard & Poor's Listed


FOR FURTHER INFORMATION PLEASE CONTACT:

Great Panther Resources Limited
Brad Aelicks

(604) 685-6465





Great Panther Resources Limited
Don Mosher

(604) 685-6465
(604) 685-9744 (FAX)
info@greatpanther.com
www.greatpanther.com

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