Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS)
(“Americas Silver” or the “Company”) is pleased to announce initial
results from recent exploration drilling on its 100% owned Zone 120
deposit, adjacent to the San Rafael development project, part of
the Cosalá Operations property in Sinaloa, Mexico.
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Highlights of the program include:
- Step-out hole SR-396 with 61.4 meters
grading 306g/t Ag, 0.23g/t Au and 0.79% Cu (412g/t AgEq) including
5.9 meters of 932g/t Ag, 0.82g/t Au and 1.94% Cu (1,213g/t AgEq)
plus another interval of 9.4 meters grading 479g/t Ag, 0.29g/t Au
and 1.07% Cu (622g/t AgEq)
- Step-out hole SR-401 with 39.6 meters
grading 205g/t Ag, 0.28g/t Au and 0.53% Cu (289g/t AgEq) including
11.4 meters of 473g/t Ag, 0.68g/t Au and 1.20% Cu (659g/t
AgEq)
- Infill hole SR-391 with 22.81 meters
grading 138g/t Ag, 0.22g/t Au and 0.37% Cu (196g/t AgEq2) including
4.0 meters of 460g/t Ag, 0.20g/t Au and 0.88% Cu (575g/t AgEq)
- Infill hole SR-392 with 18.1 meters
grading 113g/t Ag, 0.08g/t Au and 0.17% Cu (138g/t AgEq)
“We are very encouraged by the initial success of this
drilling,” said Darren Blasutti, President & CEO of Americas
Silver Corporation. “Not only did the infill drilling increase the
confidence of the existing resource at Zone 120, but the step out
drilling to the southern extension confirms our geologists view of
a larger, more robust system which could extend to the El Cajón
deposit.”
2017 Cosalá Exploration Program
Exploration drilling resumed at the Cosalá Operations property
for the first time since 2014. Starting in April, an initial eight
hole, 4,000 meter diamond drill program at Zone 120 was focused on
upgrading the existing resource3 as well as expanding the footprint
of mineralization to the southeast. Following up on the success of
step-out hole SR-396, the Company drilled an additional 2,000
meters in four holes to test continuity of the mineralization.
Detailed exploration results from the drill program can be found on
the Company’s website at americassilvercorp.com. Assays from hole
SR-402 are still pending.
Hole
From
(m)
To
(m)
Interval
(m)
True Width
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
Ag Eq
(g/t)
SR-391 41.5 63.0
21.5 20.0
107 0.44 0.20
162 Including 49.8
55.0 5.2 4.8
237 0.91
0.34 341 SR-391
96.2 100.1 4.0
3.7 175
2.12 1.40 488 SR-391
115.6 140.1
24.6 22.8 138
0.22 0.37
196 Including 117.0
121.3 4.3 4.0
460 0.20
0.88 575 SR-391
151.2 172.4 21.3
19.8 127
0.10 0.35 173 Including
165.8 170.0
4.2 3.9 285
0.23 0.75
387 SR-392 78.0 97.0
19.0 18.1
113 0.08 0.17
138 SR-392 109.7
122.6 13.0
12.3 110 0.13
0.25 148 Including
118.6 121.9 3.3
3.1 221
0.21 0.66 311
SR-393 7.0 25.0
18.0 6.4
1083 0.54 0.04
1126 SR-393 27.9
43.1 15.2 5.3
86 0.37
0.16 131 SR-393
117.0 121.8 4.8
4.4 130
0.43 0.36 202 SR-393
130.6 134.5
3.9 3.6 112
0.15 0.67
200 SR-393 148.7 154.0
5.3 4.9
151 0.13 0.37
203 SR-395 221.7
243.3 21.6
20.7 73 0.11
0.21 104 SR-396
308.0 317.4 9.4
9.4 79
0.04 0.19 105
SR-396 368.1 429.5
61.4 61.4
306 0.23 0.79
412 Including 387.5
393.4 5.9
5.9 932 0.82
1.94 1213 Including
406.7 416.1
9.4 9.4 479
0.29 1.07 621
SR-400 268.0 273.6
5.6 4.7 182
0.22 0.50
256 SR-400 277.6
291.0 13.4 11.2
87 0.07
0.19 114 SR-400 297.4
306.6 9.2
7.7 111 0.09
0.23 144 SR-400
378.0 396.3
18.3 15.3 88
0.14 0.11
111 SR-400 411.3 418.6
7.2 6.0
133 0.51 0.09
181 SR-401 275.7
315.3 39.6
39.6 205 0.33
0.53 289 Including
303.9 315.3 11.4
11.4 473
0.68 1.20 659
SR-401 327.5 351.9
24.4 24.4
190 0.28 0.53
271 Including 344.5
349.0 4.5
4.5 535 0.80
1.52 766
Silver-copper mineralization is hosted in limestone adjacent to
a large intrusive and related dikes which underlies most of the
area shown in the map above, including the approximately 500 meter
unexplored gap between Zone 120 and El Cajón. Mineralization occurs
in discreet horizons and lenses of tetrahedrite and chalcopyrite
localized in structural traps created by dikes and contact
irregularities of the intrusive. Additional drilling in 2017 is
planned to extend and further define the mineralization as well as
to support economic and technical studies aimed at evaluating
potential development scenarios. The potential project will benefit
from its close proximity to the San Rafael deposit, currently in
development.
Drill core samples are prepared at the Company’s secure facility
in Cosalá, Sinaloa. Assaying was done by Chemex Labs in Hermosillo,
Mexico. The Company has a QA/QC program supervised by a Qualified
Person.
About Americas Silver Corporation
Americas Silver is a silver mining company focused on growth in
precious metals from its existing asset base and execution of
targeted accretive acquisitions. It owns and operates the Cosalá
Operations in Sinaloa, Mexico and the Galena Mine Complex in Idaho,
USA. The Company has acquired an option on the San Felipe
development project in Sonora, Mexico.
Daren Dell, Chief Operating Officer and a Qualified Person under
Canadian Securities Administrators guidelines, has approved the
applicable contents of this news release. For further information
please see SEDAR or americassilvercorp.com.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward‐looking information” within
the meaning of applicable securities laws. Forward‐looking
information includes, but is not limited to, the Company’s
expectations intentions, plans, assumptions and beliefs with
respect to, among other things, the realization of exploration,
operational and development plans (including the successful
completion of the San Rafael Project and further exploration and
development of Zone 120), the Cosalá Operations and Galena Complex
as well as the Company’s financing efforts. Often, but not always,
forward‐looking information can be identified by forward‐looking
words such as “anticipate”, “believe”, “expect”, “goal”, “plan”,
“intend”, “estimate”, “may”, “assume” and “will” or similar words
suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions, or statements about future
events or performance. Forward‐looking information is based on the
opinions and estimates of the Company as of the date such
information is provided and is subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results,
level of activity, performance, or achievements of the Company to
be materially different from those expressed or implied by such
forward looking information. This includes the ability to develop
and operate the Cosalá and Galena properties, risks associated with
the mining industry such as economic factors (including future
commodity prices, currency fluctuations and energy prices), ground
conditions and factors other factors limiting mine access, failure
of plant, equipment, processes and transportation services to
operate as anticipated, environmental risks, government regulation,
actual results of current exploration and production activities,
possible variations in ore grade or recovery rates, permitting
timelines, capital expenditures, reclamation activities, social and
political developments and other risks of the mining industry.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Readers are cautioned not to place undue reliance on such
information. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties, both
general and specific that contribute to the possibility that the
predictions, forecasts, and projections of various future events
will not occur. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking information
whether as a result of new information, future events or other such
factors which affect this information, except as required by
law.
Cautionary Note to U.S. Investors:
The terms “mineral resource”, “measured mineral resource”,
“indicated mineral resource”, “inferred mineral resource” used in
the press release are Canadian mining terms used in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects under the guidelines set out in the Canadian Institute of
Mining, Metallurgy and Petroleum Standards. Mineral resources which
are not mineral reserves do not have demonstrated economic
viability.
While the terms “mineral resource”, “measured mineral resource”,
“indicated mineral resource”, and “inferred mineral resource” are
recognized and required by Canadian regulations, they are not
defined terms under standards in the United States and normally are
not permitted to be used in reports and registration statements
filed with the Securities & Exchange Commission (“SEC”). As
such, information contained in the Company's disclosure concerning
descriptions of mineralization and resources under Canadian
standards may not be comparable to similar information made public
by U.S companies in SEC filings. With respect to “inferred mineral
resource” there is a great amount of uncertainty as to their
existence and a great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
“inferred mineral resource” will ever be upgraded to a higher
category. Investors are cautioned not to assume that any part or
all of mineral deposits in these categories will ever be converted
into reserves.
1 True width2 Silver equivalent (AgEq) grade is calculated using
prices of $16.00/oz Ag, $1200/oz Au and $2.50/lb Cu.3 December 31,
2016 estimate reported at Measured and Indicated resources of 1.8
million tonnes grading 128g/t Ag and 0.35% Cu (7.3Moz Ag and
13.7Mlbs Cu contained).
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170824005387/en/
Americas Silver CorporationDarren Blasutti,
416-848-9503President and CEO
Americas Gold and Silver (AMEX:USAS)
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