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Great Panther Silver Limited (GPR)
Market: CDN Consolidated
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Oct 24, 2014, 2:44 AM EDT
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2007) - GREAT PANTHER RESOURCES LIMITED (TSX:GPR) is pleased to announce that Phase I of the Company's integrated exploration program on the Mapimi Project (formerly Km 66) in northeastern Durango State, Mexico has outlined kilometre-scale geophysical targets in addition to the growing silver-lead-zinc resource being delineated by diamond drilling.

Twenty nine core holes, representing 6,298 metres, were completed in the Phase I program on the Mapimi Project with Phase II drilling anticipated to commence in mid-October. Drilling has so far focused primarily on the La Gloria zone and results of the first 19 holes were released on April 16 and May 9, 2007. A parallel zone, called Las Palmitas, lies roughly 100 metres to the west and contains a small resource while the third batch of ten core holes (SK07-020 to SK07-029 totaling 2,449 metres) discovered a similar parallel zone 100 metres to the east. The latter, named La Gloria East, was located using the Aero Quest airborne magnetic survey data and to date contains somewhat erratic mineralization, but is still open to the north.

Highlights of the third batch of drill holes in the Phase I drilling program include 166 g/t silver equivalent (Ag Eq) over 19.46 metres in hole SK07-020; 107 g/t Ag Eq over 36.60 metres and 256 g/t Ag Eq over 55.60 metres in hole SK07-028; and 110 g/t Ag Eq over 47.52 metres and 147 g/t Ag Eq over 13.00 metres in hole SK07-029, all in La Gloria, while La Gloria East returned slightly lower grades over narrower intervals. The last ten holes of the program continued to intersect multiple mineralized intervals within La Gloria and several of the holes were drilled on the fringes of the mineralization, in order to determine its limits. Additional details of the intersections, including individual assays for silver, gold, lead and zinc are presented in the table of results below and an updated map of the various mineralized zones can be found on the Company's website at www.greatpanther.com.

Results from the entire 29-hole Phase I drill program are now being used to update and expand the existing NI 43-101 Inferred Mineral Resource (Great Panther news release September 11, 2006), of 22.3 million ounces of silver equivalent, contained in 4,969,800 tonnes at a grade of 59 g/t Ag, 0.13 g/t Au, 0.81% Pb and 1.31% Zn (139 g/t Ag Eq). This resource was calculated by Wardrop Engineering from previous data on the La Gloria and Las Palmitas Zones only, so it is anticipated that the additional holes into these zones plus the discovery of La Gloria East will result in a significant increase in the size of the resource.

The 550 line kilometre airborne survey completed over the property earlier in 2007 outlined a number of features interpreted to reflect large zones of hydrothermal breccia. One of these features contains the zones of known silver-lead-zinc mineralization, which is hosted in brecciated sediments adjacent to rhyolite dykes. In the La Gloria East Zone, the rhyolite itself is mineralized. Recognizing the extensive nature of these magnetic features (most more than 1,000 metres in diameter), Great Panther contracted Peter Walcott and Associates Ltd. of Vancouver to conduct an induced polarization (IP) geophysical survey focused over the known mineralized zones and the priority airborne magnetic features. In addition, the size of the property was enlarged by staking from the previous 3,508 hectares to approximately 15,000 hectares (the exact area will be determined upon receipt of the formal concession titles) as these are district-scale features.

A total of 103 line kilometres of ground IP has now been completed over four kilometre-scale targets identified from the airborne magnetics. The La Gloria zones (including Las Palmitas and La Gloria East) show up as distinct IP anomalies; a magnetic high, dubbed the Bulls-Eye Zone, is overprinted by a much larger, 2000 metre long by up to 800 metre wide, chargeability high; and a northern magnetic feature is associated with a fairly linear 1000 metre long IP anomaly. The fourth airborne magnetic feature, west of the La Gloria zone did not return any significant IP results. Preliminary ground follow-up of these anomalous zones has revealed Au, Ag and Pb mineralization in outcrop over the Bulls-Eye Zone while visible Cu and Pb mineralization have been sampled over the North Anomaly (assays pending). It is interesting to note that the mineralization at La Gloria sits at the southern tip of the extensive Bulls-Eye Anomaly and is reflected by only modest IP readings.


Highlights of recent drilling include:
--------------------------------------------------------------------------
                                                                        Ag
                      From      To  Length     Au     Ag    Pb    Zn    Eq
Hole No.   Zone         (m)     (m)     (m)  (g/t)  (g/t)    %     %  (g/t)
--------------------------------------------------------------------------

--------------------------------------------------------------------------
SK07-020   La Gloria   3.02  22.48   19.46   0.11     36  0.53  1.75   166
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           La Gloria
            East     151.95 160.04    8.09   0.04     35  0.41  0.41    68
--------------------------------------------------------------------------

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SK07-021   La Gloria
            East      18.20  25.65    7.45   0.34     65  0.47  0.44   104
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           and       151.80 161.60    9.80   0.07      3  0.05  0.79    60
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SK07-022   La Gloria
            East      192.5 198.73    6.23   0.05     39  0.07  0.97   100
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           and          207 209.45    2.45   0.07     32  0.06  2.45   197
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SK07-023   La Gloria  96.50 101.55    5.05   0.03     15  0.18  0.55    55
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           and       106.00 121.15   15.15   0.01      2  0.03  0.75    54
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SK07-024   La Gloria  52.70  60.25    7.55   0.06     36  0.93  0.49    89
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SK07-025   La Gloria 150.68 156.46    5.78   0.01      1  0.00  1.63   113
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           and       175.00 179.94    4.94   0.27     20  0.80  0.60    88
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           and       188.00 191.80    3.80   0.44     28  0.86  0.84   118
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SK07-026   La Gloria
            East      60.35  69.61    9.26   0.05     23  0.50  0.81    88
--------------------------------------------------------------------------

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SK07-028   La Gloria   0.00  36.60   36.60   0.21     65  0.87  0.39   107
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           and        36.60  92.20   55.60   0.06      4  0.09  3.63   256
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           and       135.00 148.18   13.18   0.13     14  0.50  1.13   106
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SK07-029   La Gloria   3.00  50.52   47.52   0.12     98  1.11  0.02   110
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           and        55.20  68.20   13.00   0.04      7  0.09  2.01   147
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           La Gloria
            East     184.40 189.25    4.85   0.19     23  0.12  1.22   111
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           and       254.50 262.54    8.04   0.10     17  0.18  0.58    62
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- Silver equivalent ounces (Ag Eq Oz) were calculated using prices of
  US$600/oz for gold, US$12.00/oz for silver, US$0.60/lb for lead, and
  US$1.50/lb for zinc and recoveries of 70%, 76%, 80% and 80%,
  respectively.

Great Panther management is highly encouraged by the Phase I program. The close coincidence of magnetic and IP anomalies with mineralization at the La Gloria zones, and the apparent association between geophysics and surface mineralization within two other very large targets bodes well for continued exploration success. Geological mapping, accompanied by rock and soil sampling is continuing and results will be compiled and interpreted in advance of the Phase II drill program wherein these anomalies will be tested. Plan maps showing the outline of mineralized zones, airborne magnetic features, IP anomalies, and drill hole locations are posted on the Great Panther website.

The drilling program was conducted by BDW Drilling of Guadalajara, Mexico and all core samples were sent to SGS Labs in Durango for analyses. QA/QC includes the inclusion of standard and blank samples, along with duplicates into the sample stream, and the use of a second assay lab, ALS Chemex, for check assays. Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther and its wholly owned subsidiary, Minera Mexicana El Rosario, S.A. de C.V., is designated as the Qualified Person for the Mapimi Project under the meaning of NI 43-101 and has reviewed this news release.

ON BEHALF OF THE BOARD

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, 2006 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.

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) 899-4303 (FAX)
Email: info@greatpanther.com
Website: www.greatpanther.com

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