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MAG Silver Corp.
Summary
| Project: | Juanicipio | |
|---|---|---|
| Deposit: | Juanicipio | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 3/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-3-2019: MAG Silver Corp. announces an Exploration/Drilling Update report for its Juanicipio deposit at the Juanicipio project. Drilling results incl. 4.15m @ 491g/t Ag, 2.69g/t Au, 0.01% Pb, 0.02% Zn, 0.02% Cu from 523.55m. Vancouver, B.C. MAG Silver Co | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Megaw, Lyle Hansen (Internal) | |
| ABSTRACT: | Vancouver, B.C. MAG Silver Corp. (MAG: TSX / NYSE A) (“MAG” or the “Company”) reports the discovery of the northeast (“NE”) oriented ‘Venadas Vein” within the Minera Juanicipio Joint Venture Property (Fresnillo plc 56% / MAG 44%). The NE-oriented Venadas Vein was inferred from the alignment of fifteen previously unconnected intercepts (See Table 1, Figures 1 & 2) before being cut in an underground development working as a 1.1 metre (“m”) wide vein, reporting 116 grams per tonne (“g/t”) (3.4 ounces per ton (“opt”)) silver, 3.16 g/t gold. VEN-1, the first drill hole specifically designed to test the Venadas Vein, cut 3.0 m (drilling width) grading 392 g/t (11.5 opt) silver and 5.54 g/t gold. All intercepts contain negligible base metals and lie above 1,750 m elevation, with most significantly higher than the top of the Valdecañas Vein at 1850 m elevation. This indicates a very high-level overall position in the vein zoning model, suggesting that Venadas has considerable depth potential. Venadas is the first ever mineralized vein in the overall Fresnillo District oriented at a high angle to the historically mined NW oriented veins. Notably, other much larger NE structures with intense surface alteration are known farther afield within the Juanicipio property and are now priority exploration targets. None have ever been directly drilled. “This is an entirely new and previously unrecognized vein trend that runs opposite to the expected NW-orientations shown by veins mined for nearly 500 years throughout the known parts of the Fresnillo District. The JV exploration team deserves great credit for puzzling it out” said Dr. Peter Megaw, MAG Silver’s Chief Exploration Officer. “We think these may be very important controls on the overall mineralization system because the Valdecañas Vein gets wider and richer in gold where Venadas and its suspected brethren cross it. Most importantly, the cuts to date are all at high elevations, so we are eager to drill them at depth to see if they improve like Valdecañas”. | |
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