Guanajuato Silver Drills 6,981 g/t AgEq at San Ignacio and Prepares to Expand Production


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03:47:04 2023-02-24 pm EST

0.3500 CAD -2.78%

Guanajuato Silver Drills 6,981 yard/t AgEq at San Ignacio and Prepares to Expand Production

02/24/2023 | 07:53am EST

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Guanajuato Argent Company Ltd.
(the ‘Company’ or ‘GSilver’) (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to provide drill results from the Company’s wholly owned
San Ignacio
mine (‘San Ignacio‘) in
Guanajuato, Mexico.

James Anderson, Chairman and CEO said, ‘SI22-006 is the best drill hole the Company has drilled at any of its mines recently caused from
Nifty Panther Mining
in August of 2022. With almost five meters of true width intersecting i,219 m/t AgEq, which includes 0.42m true width of vi,981 g/t AgEq, this may represent a game changing outcome for the mine. The principal focus of our virtually recent
San Ignacio
drill program was to target the Melladito vein system with the goal of extending silver and golden mineralization in the south and north areas of the mine. This outstanding result will be followed up with boosted drill holes attempting to follow the down dip extension of the vein within the Company’s 2023 drill campaign. In parallel, we are in the midst of driving a 400-metre access ramp from Melladito to the coordinating
vein, which offers the potential for expanded production at
San Ignacio.’

The Melladito vein dips to the east, with a true width ranging from 0.25 m to over xix thousand; the vein has been delineated to a depth of 350 metres merely retains deeper potential. Additionally, the vein oftentimes returns proportionately higher gilt with lesser silver values. Electric current production from
San Ignacio
comes mostly from the Melladito and the
Nombre de Dios
vein systems.

Nigh the
San Ignacio Mine

Mineralization at
San Ignacio
is consequent with high-form epithermal vein systems that are common inside the
Guanajuato Mining District; silvery and gold mineralization is contained within vein stockworks and breccias. To date, 18 veins take been divers at
San Ignacio. In one case mined, mineralization is transported using 20-tonne trucks approximately 20km for processing at the Visitor’due south wholly-owned Cata mill at the
Valenciana Mines Complex.

New Resource Calculation Initiated

The Company also confirms that
Noon Geoscience Ltd.
Edmonton, Alberta, Canada
(‘Apex’), has been engaged to provide a current mineral resource estimate for
San Ignacio; the new mineral adding is expected to exist completed by Q3, 2023. A historical resource estimate at
San Ignacio
was completed by Robert F. Dark-brown and Mohammad Noupour on behalf of
Dandy Panther Mining Express
July 31, 2021
as function of a ‘NI 43-101 Mineral Resources Update Technical Report on the
Guanajuato Mine Complex,
and San Ignacio Operations, Guanajuato State,
Mexico‘ dated
Feb 28, 2022
(the ‘Great Panther Study’) and is summarized beneath:

Guanajuato Silverish

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in key
United mexican states. The Company produces silver and gold concentrates from the
El Cubo Mine,
Valenciana Mines Complex, and the
San Ignacio
mine; all three mines are located within the state of
Guanajuato, which has an established 480-yr mining history. Additionally, the Visitor produces silver, gold, atomic number 82, and zinc concentrates from the
mine in northwestern Durango. With four operating mines and 3 processing facilities,
Guanajuato Silver
is one of the fastest growing silver producers in


Tel: 604 723 1433

Email: [email protected]

Frontwards-Looking Statements

This news release contains sure forwards-looking statements and information, which relate to future events or future performance including, but not limited to, the identification of the Melladito vein arrangement as a gold and silver rich vein system with the potential for deeper mineralization, the potential of the
vein as an analogue to the Melladito vein system with the power to expand production at
San Ignacio
to more than 12,000 tonnes per calendar month and extend the existing mine life, the estimated timetable for completion of Ramp 430 to connect the
and Melladito veins and the predictable increment in production resulting therefrom, the power of the Company to apace appraise the deeper mineralization and characteristics of the Melladito vein system and the timing and quantity of production therefrom, the Visitor’s current and projected mined output from
San Ignacio
for 2023 and the Company’due south condition equally one of the fasting growing silver producers in
United mexican states, the ability of the Company to continue to increment production, tonnage and recoveries of mineralized material at
San Ignacio, Valenciana,
El Cubo
in accordance with its objectives and timetable including increasing silver and golden grades, improving metallurgical recovery rates, increasing revenues, and reducing product costs (including AISC) consequent with the Company’s expectations and production model, the Visitor’south future development and production activities; estimates of mineral resource and mineralized material at the Company’s mining projects and the accessibility, attractiveness, mineral content and metallurgical characteristics thereof; the opportunities for futurity exploration, development and production at the Company’s mines including the Melladito,
Nombre de Dios
veins at
San Ignacio
and the proposed exploration, development and production programs therefor and the timing and costs thereof and the success related to any future exploration, evolution and/or product programs.

Such frontward-looking statements and information reflect direction’s electric current beliefs and are based on information currently available to and assumptions fabricated by the Company; which assumptions, while considered reasonable by the Visitor, are inherently subject to significant operational, concern, economic and regulatory uncertainties and contingencies. These assumptions include: the potential quantity, grade and metallic content of the mineralized textile at the Melladito,
Nombre de Dios
veins, the geotechnical and metallurgical characteristics of such material conforming to sampled results and metallurgical functioning; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately practical to product estimates; prices for silver, gilded and other metals remaining every bit estimated; currency exchange rates remaining every bit estimated; availability of funds for the Company’s projects and to satisfy current liabilities and obligations including debt repayments; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining every bit estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner and the power to comply with environmental, health and condom laws. The foregoing listing of assumptions is not exhaustive.

Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may crusade future results, level of activity, production levels, operation or achievements of GSilver to differ materially from those expected including, just not limited to, market weather, availability of financing, currency charge per unit fluctuations, rising inflation and interest rates, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual resource grades and recoveries of silver, gold and other metals from the Melladito,
Nombre de Dios
veins or otherwise, availability of tertiary party mineralized material for processing, unanticipated geological or structural formations and characteristics, ecology risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to increase product, tonnage milled and recoveries rates, ameliorate grades and reduce costs at
San Ignacio
to process mineralized materials to produce silver, golden and other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver’s decision to process mineralized cloth from
San Ignacio
including the Melladito and
Nombre de Dios
vein systems and newly discovered
vein is non based on a feasibility study of mineral reserves demonstrating economical and technical viability and therefore is subject to increased uncertainty and take a chance of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves practise not have demonstrated economic viability, are considered too speculative geologically to accept the economical considerations practical to them, and may be materially afflicted by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company’s projected grades of gold and silver at the Melladito,
Nombre de Dios
veins and the anticipated level of product therefrom will be realized. In improver, at that place are no assurances that the Visitor will run into its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet fiscal covenants to which the Visitor is subject or to fund its exploration programs and corporate initiatives equally planned. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing state of war in
and ascension inflation and interest rates and the affect they volition have on the Visitor’s operations, supply chains, power to access mining projects or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in full general. Accordingly, readers should not place undue reliance on forward-looking statements or data. All forward-looking statements and information fabricated in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at including the Visitor’s annual information course for the fiscal year ended
December 31, 2021. These forrad-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances salve as required past police.

(C) 2023 Electronic News Publishing, source
ENP Newswire

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Stocks mentioned in the article

Change Terminal 1st january.
Nifty PANTHER MINING LIMITED -1.11% 0.089 Delayed Quote. 89.36%
GUANAJUATO Silverish COMPANY LTD. -two.78% 0.35 Delayed Quote. -5.41%

All news almost GUANAJUATO SILVER Company LTD.
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01/27 TRADING UPDATES: Aquis in line with target; Bradda Caput delays results


01/26 Guanajuato Silver Company Ltd. Announces Consolidated Production Results for the Quarte..


01/17 Guanajuato Silver says Cata mill restarts at Mexican mines complex


01/17 Guanajuato Silver Visitor Ltd. Restarts the Cata Factory at the Valenciana Mines Circuitous


01/12 Guanajuato Silverish Closes Final Tranche of C$viii.5M Disinterestedness Financing


01/eleven TRADING UPDATES: Blencowe gets ok for samples; Cornish hails results


More news


Sales 2022
51,nine Thousand

38,one G

38,1 Yard
Cyberspace income 2022

Net Debt 2022
15,1 M

11,i One thousand

11,1 M
P/Due east ratio 2022
Yield 2022
113 M

83,0 M

83,0 M
EV / Sales 2022 ii,47x
Capi. / Sales 2023 0,78x
Nbr of Employees
Gratis-Float 72,8%


Duration :

Menstruation :

Guanajuato Silver Company Ltd. Technical Analysis Chart | MarketScreener

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Income Argument Evolution




Mean consensus BUY
Number of Analysts two
Last Close Price 0,35 CAD
Average target price 0,95 CAD
Spread / Average Target


Managers and Directors

James E. Anderson Chairman & Principal Executive Officer
Ramon Davila President & Director
Lisa J. Dea Chief Financial Officer
Hernan Dorado Smith Principal Operating Officer & Director
Daniel Oliver Director

Sector and Competitors

1st jan. Capi. (M$)
GUANAJUATO Silver Visitor LTD. -5.41% 83
BHP Grouping LIMITED ii.32% 160 748
RIO TINTO PLC -2.26% 118 729
GLENCORE PLC -11.59% 74 329
ANGLO AMERICAN PLC -12.07% 43 932
SAUDI ARABIAN MINING Company (MA’ADEN) 0.93% 42 845


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