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MAG Silver Corp.
Summary
| Project: | Minera Juanicipio JV | |
|---|---|---|
| Deposit: | Valdecanas | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Lead-Zinc-Copper | |
| Date: | 3/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-3-2019: MAG Silver Corp. announces an Exploration/Drilling Update report for its Valdecanas deposit at the Minera Juanicipio JV project. Drilling results incl. 14.15m @ 783g/t Ag, 2.57g/t Au, 6.52% Pb, 9.46% Zn, 0.32% Cu from 1000m. Vancouver, B.C. MAG | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Megaw (Internal) | |
| ABSTRACT: | Vancouver, B.C. MAG Silver Corp. (MAG: TSX / NYSE A) (“MAG” or the “Company”) reports results from a 48-hole (46,060 metre (“m”)) diamond drilling program on the Juanicipio Joint Venture Property (Fresnillo plc 56% / MAG 44%) completed in late 2018. The program was designed to expand and infill the wide, high-grade Deep Zone Mineral Resource estimate outlined in the Company’s “2017 PEA” (See Press Release dated November 7, 2017). Since the discovery of the Deep Zone as an extension at depth of the high-grade Bonanza Zone (see Press Release April 23, 2015), the Valdecañas Vein System has emerged as a multi-stage, high-grade vein swarm comprising the overlapping East and West Veins, the hangingwall Anticipada Vein, the newly discovered Pre-Anticipada Vein and several other splays (See table and figures below). Exploration drilling is ongoing, running concurrently with surface and underground mine development where first production in anticipated in H2-2020 (as reported by the operator February 26, 2019 - “Fresnillo announces full year 2018 preliminary results”). “The Valdecañas Vein System continues to astound us with its multiple high-grade silver and gold overprintings on the increasingly base-metal rich Deep Zone and its overall persistence; it having now been traced for over 1,100 metres beneath the top of the Bonanza Zone where our mine development is currently advancing nicely,” said George Paspalas, President and CEO of MAG. “We are especially pleased with how each hole into the Valdecañas Vein East gives us a free shot on the way not only at the ever-expanding Anticipada Vein but also the fortuitously discovered Pre- 2 of 12 Anticipada Vein. Because the drill spacing in the Deep Zone is still widely spaced, we expect the major impact on resources will be to the Inferred category, and that drilling off to Indicated may best be done in the future from underground.” | |
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