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).
Highlights - These latest drill results:
- Extend and confirm continuity to depth of high-grade
mineralization in the East and West Valdecañas Vein Deep Zones and
in the Anticipada Vein; and
- Coincidentally discovered the new Pre-Anticipada
vein in the hangingwall above the system.
Outstanding intercepts include:
DEEP ZONE WEST: Infill Hole P22: 11.6
metres (true width) grading 783 grams per tonne (“g/t”) (22.9
ounces per ton (“opt”)) silver, 2.57 g/t gold, 6.52% lead, 9.46%
zinc, 0.32% copper.
DEEP ZONE EAST: Step-Out Hole P26: 6.3m
(true width) grading 246 g/t (7.2 opt) silver, 1.78 g/t (capped)
gold, 7.20% lead, 11.63% zinc, 0.40% copper.
ANTICIPADA VEIN: Infill Hole
P24-1: 6.2 m (true width) grading
275 g/t (8 opt) silver, 4.02 g/t gold, 7.28% lead, 9.24% zinc and
0.30% copper.
NEW DISCOVERY — "PRE-ANTICIPADA
VEIN”: Step-out Hole P28: 3.2 m
(estimated true width) grading 472 g/t
(13.8 opt) silver, 0.31 g/t gold, 0.39% lead, 0.43% zinc and 0.03%
copper.
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-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.”
The latest holes include the deepest lateral
intercepts to date on the Valdecañas Vein, with deep mineralization
now traceable continuously over a strike length exceeding 2,000 m
and up to 1,100 m vertically from the top of the Bonanza Zone. Vein
widths range from approximately 2 m to over 29 m. Deep
mineralization on the Valdecañas Veins remains open laterally for
several hundred metres to the claim boundaries on both ends; to the
east claim boundary for Anticipada; and Pre-Anticipada and to depth
across all veins (see Figures 1 - 5).
Notably, the Valdecañas deep zones continue to
demonstrate atypically high silver grades that MAG believes are
ascribable to stacking or superimposition of later mineralization
related to a deeper, fluctuating boiling zone, as well as the
increasing copper grades normally expected in the “root zone” of an
epithermal vein. Gold grades remain high and remarkably consistent
from top to bottom. These phenomena, as interpreted,
reflect proximity to a major mineralizing-fluid upwelling zone
where multiple repeated pulses of mineralization combined to
generate exceptionally high-grade polymetallic
mineralization.
One Devico directional drill is currently
turning on the Valdecañas Vein, with two conventional rigs turning
on other targets on the property; additional surface and
underground rigs are expected on-site shortly.
Valdecañas Vein WestEleven new
intercepts on the Valdecañas Vein West are reported here (See
Table 1 and Figure 1). Three fall within the
Deep Zone Mineral Resource estimate (see 2017 PEA) and reinforce
those results. The best is P22, which cut
11.6 m (true width) grading 783 g/t (22.9 opt) silver, 2.57 g/t
gold, 6.52% lead, 9.46% zinc, 0.32% copper in the heart of
the Dilatant Zone (See Press Releases dated August 15, 2016 and
February 14, 2017). Three more intercepts are high and confirm the
upper limits of the mineralized envelope (See “Shallow Holes”
discussion below). The remaining five intercepts are 100 m
step-outs designed to extend the resource envelope, the best being
Hole P21, the westernmost deep hole on the Valdecañas Vein West.
P21 cut 9.8 m (true width) grading 84 g/t
(2.5 opt) silver, 2.74 g/t gold, 2.95% lead, 1.89% zinc, 0.11%
copper. At the eastern extreme of this zone, Hole
D6-1 cut 3.8 m (true width) grading 359 g/t (10.5
opt) silver, 0.09 g/t gold, 0.96% lead, 2.31% zinc, 1.68%
copper. The Valdecañas West Deep Zone remains open
to depth and laterally, especially to the southwest towards the
claim boundary, which lies 200 - 300 m farther west.
Table 1
HOLE-ID |
From(m) |
To(m) |
Length(m) |
TW2(m) |
Ag(g/t) |
Au(g/t) |
Pb(%) |
Zn(%) |
Cu(%) |
Vein1 |
D1-1 |
1120.05 |
1123.05 |
3.00 |
2.0 |
139 |
1.00 |
1.58 |
11.29 |
0.29 |
V1W |
D1-2 |
1031.80 |
1066.00 |
34.20 |
23.1 |
77 |
0.84 |
3.25 |
5.84 |
0.09 |
V1W |
incl. |
1053.85 |
1066.00 |
12.15 |
8.2 |
171 |
2.19 |
7.78 |
11.50 |
0.20 |
V1W |
and |
1082.80 |
1095.40 |
12.60 |
8.5 |
190 |
1.33 |
2.07 |
4.67 |
0.26 |
FW |
incl. |
1083.95 |
1086.70 |
2.75 |
1.9 |
722 |
3.98 |
6.43 |
15.20 |
0.53 |
FW |
and |
1110.90 |
1111.65 |
0.75 |
0.5 |
1555 |
1.34 |
0.04 |
0.07 |
0.02 |
FW |
D1-3 |
1108.90 |
1141.45 |
32.55 |
20.5 |
70 |
0.26 |
1.43 |
4.68 |
0.21 |
V1W |
incl. |
1121.35 |
1141.45 |
20.10 |
12.7 |
90 |
0.32 |
1.95 |
6.17 |
0.27 |
V1W |
D1-4 |
1063.00 |
1077.90 |
14.90 |
11.3 |
159 |
0.50 |
1.27 |
4.49 |
0.17 |
V1W |
incl. |
1073.30 |
1077.90 |
4.60 |
3.5 |
404 |
1.34 |
1.00 |
5.58 |
0.16 |
V1W |
D6-1 |
1019.90 |
1025.40 |
5.50 |
3.8 |
359 |
0.09 |
0.96 |
2.31 |
1.68 |
V1W |
incl. |
1019.90 |
1022.10 |
2.20 |
1.5 |
834 |
0.09 |
2.35 |
4.96 |
3.97 |
V1W |
VM-10 |
290.06 |
292.11 |
2.05 |
2.0 |
307 |
0.85 |
0.02 |
0.02 |
0.00 |
V1W |
P15-1 |
1311.70 |
1317.85 |
6.15 |
4.50 |
35 |
0.27 |
0.92 |
3.82 |
0.08 |
V1W |
P21 |
1098.85 |
1111.65 |
12.80 |
9.8 |
84 |
2.74/2.743 |
2.95 |
1.89 |
0.11 |
V1W |
incl. |
1109.75 |
1111.65 |
1.90 |
1.45 |
204 |
12.63 |
9.25 |
3.96 |
0.17 |
V1W |
P22 |
1000.00 |
1014.15 |
14.15 |
11.6 |
783 |
2.57 |
6.52 |
9.46 |
0.32 |
V1W |
incl. |
1003.45 |
1006.90 |
3.45 |
2.8 |
2524 |
3.46 |
6.08 |
4.36 |
0.25 |
V1W |
1 V1W = Valdecañas Vein West; FW =
Footwall intercept.2 Estimated true widths were estimated
from cross sections and core angles. 3 One gold assay
capped to 16 g/t from reported values of 16.05 g/t. This is
consistent with previous press releases on the Juanicipio
project.
Valdecañas Vein EastTwenty-four
new intercepts reported here targeted the Valdecañas Vein East (See
Table 2 and Figure 2). Six fall within the
boundary of the Deep Zone Mineral Resource estimate (see 2017 PEA)
and reinforce those results. The best of these is Hole
TIV, which cut 4.8 m (true width) grading 278 g/t
(8.1 opt) silver, 1.78 g/t gold (capped), 4.88% lead, 10.48% zinc,
and 1.20% copper. Five more intercepts are high and
confirm the upper limits of the mineralized envelope. (See “Shallow
Holes” discussion below). The remaining thirteen intercepts were 50
– 100 m step-outs designed to extend the Deep Zone Mineral Resource
estimate envelope. Eight cut strong mineralization with the best
being Hole P26, drilled under the middle of the
zone, which cut 6.3 m (true width) grading 246 g/t (7.2
opt) silver, 1.78 g/t gold (capped), 7.20% lead, 11.63% zinc, 0.40%
copper. Overall the Valdecañas East Deep Zone remains open
to depth and laterally, especially in the middle; but it does
appear to weaken towards the east at these depths. Hole VM-11 is an
isolated hole drilled 200 m below the base of the Deep Zone Mineral
Resource estimate (see 2017 PEA). It hit thick but relatively weak
mineralization in the Valdecañas Vein (See Figure 2) but did cut
very strong mineralization in the Anticipada about 120 m uphole
(See Below).
Table 2
HOLE-ID |
From(m) |
To(m) |
Length(m) |
TW2(m) |
Ag(g/t) |
Au(g/t) |
Pb(%) |
Zn(%) |
Cu(%) |
Vein1 |
D1-2 |
934.65 |
936.05 |
1.40 |
0.9 |
276 |
0.11 |
9.70 |
3.28 |
0.97 |
V1E |
D1-3 |
973.00 |
974.00 |
1.00 |
0.6 |
13 |
0.22 |
0.32 |
2.53 |
0.02 |
V1E |
D2-10 |
1290.05 |
1300.85 |
10.80 |
8.0 |
138 |
0.62 |
4.73 |
15.57 |
0.47 |
V1E |
D3-8-R |
943.30 |
956.65 |
13.35 |
8.5 |
120 |
2.11 |
5.48 |
6.72 |
0.31 |
V1E |
incl. |
952.80 |
955.85 |
3.05 |
1.9 |
217 |
6.64 |
16.69 |
9.37 |
0.25 |
V1E |
D3-9 |
968.50 |
982.60 |
14.10 |
7.9 |
143 |
2.69 |
2.26 |
3.75 |
0.47 |
V1E |
incl. |
970.90 |
976.55 |
5.65 |
3.2 |
254 |
4.18 |
3.30 |
5.47 |
0.72 |
V1E |
D3-11 |
899.15 |
901.75 |
2.60 |
2.3 |
62 |
1.34 |
1.46 |
3.88 |
0.31 |
V1E |
D4 |
947.90 |
950.80 |
2.90 |
2.7 |
144 |
0.77 |
2.14 |
3.55 |
0.79 |
V1E |
D6-1 |
946.75 |
947.35 |
0.60 |
0.5 |
39 |
0.85 |
0.75 |
6.72 |
0.07 |
V1E |
D6-2 |
1080.85 |
1086.55 |
5.70 |
3.2 |
279 |
0.04 |
2.54 |
3.09 |
2.39 |
V1E |
D7-5 |
999.65 |
1001.95 |
2.30 |
- |
499 |
1.58 |
5.37 |
1.22 |
0.35 |
HW |
and |
1007.10 |
1046.15 |
39.05 |
10.7 |
180 |
0.81 |
3.28 |
9.00 |
0.85 |
V1E |
incl. |
1011.40 |
1019.20 |
7.80 |
2.1 |
558 |
0.06 |
1.66 |
13.14 |
3.18 |
V1E |
D8-2 |
734.10 |
760.00 |
25.90 |
8.2 |
140 |
0.88 |
3.68 |
5.01 |
0.14 |
V1E |
incl. |
749.10 |
760.00 |
10.90 |
3.5 |
203 |
0.88 |
6.99 |
7.68 |
0.18 |
V1E |
VM-10 |
273.84 |
275.13 |
1.29 |
1.3 |
127 |
0.14 |
0.00 |
0.01 |
0.01 |
V1E |
VM-11 |
1009.14 |
1030.80 |
21.66 |
6.3 |
22 |
0.00 |
0.03 |
3.45 |
0.07 |
V1E |
VM-12A |
821.40 |
828.25 |
6.85 |
4.6 |
148 |
0.35 |
9.23 |
19.38 |
0.28 |
V1E |
P24-1 |
931.70 |
950.95 |
19.25 |
8.8 |
112 |
2.91 |
1.95 |
3.45 |
0.41 |
V1E |
incl. |
938.65 |
939.85 |
1.20 |
0.5 |
219 |
18.75 |
6.34 |
8.07 |
0.31 |
V1E |
P26 |
1052.75 |
1071.35 |
18.60 |
6.3 |
246 |
6.88/1.783 |
7.20 |
11.63 |
0.40 |
V1E |
incl. |
1056.30 |
1062.00 |
5.70 |
1.9 |
577 |
21.74 |
11.10 |
11.02 |
0.74 |
V1E |
Incl. |
1057.80 |
1058.50 |
0.70 |
0.2 |
1200 |
149 |
8.57 |
17.10 |
0.99 |
V1E |
P27 |
915.85 |
928.20 |
12.35 |
10.2 |
74 |
1.22 |
1.36 |
1.77 |
0.38 |
V1E |
incl. |
915.85 |
919.40 |
3.55 |
2.9 |
166 |
0.29 |
3.45 |
5.01 |
0.77 |
V1E |
P28 |
946.15 |
962.30 |
16.15 |
12.5 |
152 |
2.41/1.844 |
2.02 |
3.54 |
0.30 |
V1E |
incl. |
958.95 |
959.55 |
0.60 |
0.5 |
279 |
31.30 |
6.37 |
18.45 |
0.47 |
V1E |
incl. |
961.05 |
961.65 |
0.60 |
0.5 |
1100 |
0.44 |
0.68 |
0.65 |
0.11 |
V1E |
TIV |
816.30 |
823.50 |
7.20 |
4.8 |
278 |
6.94/1.785 |
4.88 |
10.48 |
1.20 |
V1E |
incl. |
817.50 |
818.25 |
0.75 |
0.5 |
774 |
65.60 |
0.48 |
23.70 |
3.22 |
V1E |
1 V1E = Valdecañas Vein East; HW =
Hangingwall Intercept2 Estimated true widths were estimated
from cross sections and core angles. 3 Two Gold assays
were capped at 16 g/t from reported values of 18.45 g/t and 149
g/t. Both 0.70 m core samples. This is consistent with previous
press releases on the Juanicipio project.4 One Gold assay was
capped at 16 g/t from reported value of 13.30 g/t over a 0.60 m
core length. This is consistent with previous press releases on the
Juanicipio project.5 One Gold assay was capped at 16 g/t from
reported value of 65.60 g/t over 0.75 m core length. This is
consistent with previous press releases on the Juanicipio
project.
Anticipada Vein “VANT”Fourteen
of the holes coincidentally cut the Anticipada Vein 50 to 100m
before reaching their primary target, the Valdecañas Vein East Deep
Zone (See Table 3 and Figures 3 and 5). Seven fall within the
boundary of the Deep Zone Mineral Resource estimate (See 2017 PEA)
and significantly expand this vein, especially in a vertical zone
along its western reaches (See Figure 3). The best of
these is Hole P24-1, which cut
6.2 m (true width) grading 275 g/t (8 opt)
silver, 4.02 g/t gold, 7.28% lead, 9.24% zinc and 0.30%
copper. The remaining seven holes were 50 to 100m
step-outs that served to test the limits of the Deep Zone Mineral
Resource estimate mineralized envelope. The three easterly
intercepts show relatively weak mineralization but the four
westernmost holes extend the strong vertical zone of high-grade
mineralization mentioned above. The deepest of these
(VM-11) cuts about 150m below the bottom of the
Anticipada Vein and reported 2.0 metres (true
width) grading 146 g/t (4.3 opt) silver, 0.12 g/t
gold, 2.40% lead, 17.32% zinc and 0.64% copper. This is
the deepest and westernmost intercept in the Anticipada Vein, which
remains open to depth and for several hundred metres towards the
eastern property limit.
Table 3
HOLE-ID |
From(m) |
To(m) |
Length(m) |
TW2(m) |
Ag(g/t) |
Au(g/t) |
Pb(%) |
Zn(%) |
Cu(%) |
Vein1 |
D2-10 |
1152.30 |
1157.10 |
4.80 |
4.6 |
24 |
0.19 |
0.62 |
2.52 |
0.06 |
VANT |
D3-8 |
869.20 |
878.75 |
9.55 |
9.3 |
256 |
1.04 |
3.08 |
4.42 |
0.35 |
VANT |
incl. |
870.15 |
871.15 |
1.00 |
1.0 |
1405 |
2.66 |
16.35 |
10.40 |
0.12 |
VANT |
D3-8-R |
868.25 |
878.10 |
9.85 |
9.5 |
101 |
1.78 |
0.91 |
3.70 |
0.29 |
VANT |
D3-9 |
885.60 |
897.55 |
11.95 |
11.4 |
82 |
0.27 |
1.56 |
2.53 |
0.17 |
VANT |
D3-11 |
858.75 |
862.65 |
3.90 |
3.8 |
227 |
2.14 |
3.63 |
9.96 |
0.27 |
VANT |
D4 |
876.05 |
877.80 |
1.75 |
1.5 |
45 |
1.15 |
1.02 |
4.98 |
0.16 |
VANT |
D7-5 |
869.80 |
872.45 |
2.65 |
2.2 |
22 |
0.12 |
0.51 |
3.27 |
0.04 |
VANT |
D8-2 |
657.95 |
660.10 |
2.15 |
1.8 |
18 |
0.30 |
0.02 |
0.05 |
0.01 |
VANT |
VM-11 |
845.25 |
849.15 |
3.90 |
2.0 |
146 |
0.12 |
2.40 |
17.32 |
0.64 |
VANT |
incl. |
846.10 |
848.00 |
1.90 |
1.0 |
261 |
0.11 |
4.39 |
28.30 |
1.13 |
VANT |
VM-12A |
810.90 |
817.70 |
6.80 |
5.2 |
105 |
0.35 |
0.80 |
7.38 |
0.08 |
VANT |
P24-1 |
855.60 |
866.80 |
11.20 |
6.2 |
275 |
4.02 |
7.28 |
9.24 |
0.30 |
VANT |
incl. |
855.60 |
859.00 |
3.40 |
1.9 |
624 |
8.86 |
15.30 |
15.56 |
0.37 |
VANT |
P26 |
849.70 |
857.15 |
7.45 |
3.7 |
151 |
0.32 |
2.91 |
8.86 |
0.45 |
VANT |
P28 |
865.65 |
867.85 |
2.20 |
2.1 |
112 |
3.76 |
1.77 |
6.09 |
0.12 |
VANT |
TIV |
715.45 |
720.35 |
4.90 |
3.3 |
231 |
1.22 |
4.77 |
10.39 |
1.19 |
VANT |
1 VANT = Anticipada Vein2 Estimated
true widths were estimated from cross sections and core
angles.
NEW DISCOVERY: Pre-Anticipada
VeinSixteen of the holes that cut the Anticipada Vein on
their way to the Valdecañas Vein East Deep Zone also
encountered the previously unknown
Pre-Anticipada Vein 50 - 100 m farther into the
hangingwall (Table 4 and Figures 4 and 5). The easternmost
four appear to form a coherent zone with significant width and
grade which is open 200 – 300 m to the east property boundary and
to depth. The best hole is Hole P28, which cut 3.2
m (estimated true width) grading
472 g/t (13.8 opt) silver, 0.31 g/t gold, 0.39% lead, 0.43% zinc
and 0.03% copper. Notably, Hole P19, 50 m
deeper to the west reported 1256 g/t (36.7 opt)
silver, a remarkable silver value for this depth in the
system. Overall, the results for Pre-Anticipada show strong silver
values with the best intercepts lying at an elevation between the
base of the Bonanza Zone and the top of the Dilatant Zone of the
Valdecañas Vein East Deep (Figure 5). These holes also report very
low base metal values indicating a high-level position relative to
the epithermal vein zoning model. It is possible that
Pre-Anticipada represents mineralization related to postulated
deeper boiling zone emplaced into a structure separate from those
that host the base metal rich roots of the earlier mineralization
stage.
Both the Pre-Anticipada and Anticipada Veins are
open to depth and for 200-300 metres eastward to the property
boundary (See Figures 3 and 4).
Table 4
HOLE-ID |
From(m) |
To(m) |
Length(m) |
TW2(m) |
Ag(g/t) |
Au(g/t) |
Pb(%) |
Zn(%) |
Cu(%) |
Vein1 |
JU5 |
580.45 |
581.20 |
0.75 |
0.7 |
395 |
0.11 |
0.24 |
0.32 |
0.01 |
PANT |
D3-11 |
712.10 |
712.70 |
0.60 |
0.6 |
206 |
0.14 |
0.29 |
0.64 |
0.01 |
PANT |
D4 |
670.00 |
673.90 |
3.90 |
3.2 |
292 |
0.83 |
0.99 |
0.77 |
0.01 |
PANT |
M43 |
444.80 |
445.50 |
0.70 |
0.6 |
265 |
0.08 |
0.04 |
0.02 |
0.09 |
PANT |
P16 |
758.50 |
759.65 |
1.15 |
0.8 |
189 |
0.18 |
0.14 |
0.37 |
0.02 |
PANT |
P19 |
737.30 |
738.70 |
1.40 |
1.0 |
1256 |
1.16 |
1.16 |
2.87 |
0.09 |
PANT |
P20 |
712.20 |
714.75 |
2.55 |
1.8 |
768 |
0.50 |
0.48 |
1.51 |
0.02 |
PANT |
P28 |
668.30 |
673.40 |
5.10 |
3.2 |
472 |
0.31 |
0.39 |
0.43 |
0.03 |
PANT |
1 PANT = Pre-Anticipada Vein2
Estimated true widths were estimated from cross sections and core
angles.
Shallow Holes Five holes (SA-1
to 4 and D8-1) were drilled to refine the upper limits of the
Bonanza Zone in both the East and West Valdecañas veins (Table 5
and Figures 1 and 2). As expected, all five hit relatively narrow,
silver-dominant mineralization except Hole SA-4 which cut
1.7 metres (true thickness) grading 4341 g/t (126 opt) silver, 1.03
g/t gold, 3.14% lead, 5.81% zinc, 0.09% copper in the East
Vein.
Table 5
HOLE-ID |
From(m) |
To(m) |
Length(m) |
TW2(m) |
Ag(g/t) |
Au(g/t) |
Pb(%) |
Zn(%) |
Cu(%) |
Vein1 |
SA-1 |
217.50 |
220.65 |
3.15 |
3.0 |
160 |
0.88 |
0.00 |
0.01 |
0.00 |
V1E |
and |
251.50 |
253.10 |
1.60 |
1.5 |
67 |
0.08 |
0.00 |
0.01 |
0.01 |
V1W |
SA-2 |
258.90 |
259.50 |
0.60 |
0.6 |
74 |
0.14 |
0.00 |
0.01 |
0.00 |
V1E |
and |
321.40 |
322.70 |
1.30 |
1.2 |
516 |
0.07 |
0.10 |
0.64 |
0.02 |
V1W |
SA-3 |
209.15 |
209.95 |
0.80 |
0.7 |
806 |
5.32 |
0.00 |
0.01 |
0.01 |
V1E |
and |
235.15 |
235.75 |
0.60 |
0.6 |
382 |
0.35 |
0.00 |
0.01 |
0.00 |
V1W |
SA-4 |
195.20 |
197.10 |
1.90 |
1.7 |
4341 |
1.03 |
3.14 |
5.81 |
0.09 |
V1E |
D8-1 |
591.20 |
592.00 |
0.80 |
0.8 |
23 |
0.13 |
0.01 |
0.26 |
0.03 |
V1E |
1 V1W = Valdecañas Vein West; V1E =
Valdecañas Vein East2 Estimated true widths were estimated
from cross sections and core angles.
Qualified Person: Dr. Peter
Megaw, Ph.D., C.P.G., and Lyle Hansen, M.Sc., P.Geo have acted as
the qualified persons as defined in National Instrument 43-101 for
this disclosure and supervised the preparation of the technical
information in this release. Dr. Megaw has a Ph.D. in geology and
more than 35 years of relevant experience focussed on silver and
gold exploration in Mexico. He is a Certified Professional
Geologist (CPG 10227) by the American Institute of Professional
Geologists and an Arizona Registered Geologist (ARG 21613). Dr.
Megaw is not independent as he is Chief Exploration Officer (CXO)
and a Shareholder of MAG. Dr. Megaw is satisfied that the
results are verified based on an inspection of the core and
underground exposures, a review of the sampling procedures, the
credentials of the professionals completing the work and the visual
nature of the silver and base metal sulphides within a district
where he is familiar with the style and continuity of
mineralization. Mr. Hansen is a registered Professional Geologist
with Engineers and Geoscientists BC (149624) and has more than 10
years experience in epithermal veins. Mr. Hansen is not independent
as he is Geotechnical Director of MAG.
Quality Assurance and Control:
The samples are shipped directly in security-sealed bags to
ALS-Chemex Laboratories preparation facility in Guadalajara,
Jalisco, Mexico (Certification ISO 9001). Samples shipped also
include intermittent standards and blanks. Pulp samples are
subsequently shipped to ALS-Chemex Laboratories in North Vancouver,
Canada for analysis. Two extra pulp samples are also prepared and
are analyzed (in progress) by SGS Laboratories (Certification ISO
9001) and Inspectorate Laboratories (Certification ISO 9001) (or
other recognized lab). The bulk reject is subsequently sent to CIDT
(Center for Investigation and Technical Development) of Peñoles in
Torreon, Mexico for metallurgical testing where a fourth assay for
each sample is analyzed and a calculated head grade is received on
the basis of a concentrate balance. The CIDT also does a full
microscopic, XRF and XRD mineralogical analysis.
About MAG Silver Corp.
(www.magsilver.com )MAG Silver Corp. (MAG: TSX / NYSE A)
is a Canadian exploration and development company focused on
becoming a top-tier primary silver mining company by exploring and
advancing high-grade, district scale, silver-dominant projects in
the Americas. Our principal focus and asset is the Juanicipio
Property (44%), being developed in Joint Venture partnership with
Fresnillo Plc (56%). Juanicipio is located in the Fresnillo Silver
Trend in Mexico, the world's premier silver mining camp and we are
currently developing the surface and underground infrastructure on
the property to support a 4,000 tonnes per day mining operation
with the operational expertise of our JV partner, Fresnillo plc. As
well, we have an aggressive exploration program in place targeting
multiple highly prospective targets across the property. In
addition, we continue to work on regaining surface access to our
100% owned Cinco de Mayo property in Mexico while we seek other
high grade, district scale opportunities.
On behalf of the Board ofMAG SILVER
CORP.
"George Paspalas"President and
CEO
For further
information on behalf of MAG Silver Corp. Contact Michael
Curlook, Vice President, Investor Relations and
Communications |
|
Website:Phone:Toll
free: |
|
www.magsilver.com(604) 630-1399(866) 630-1399 |
Email:Fax: |
|
info@magsilver.com(604) 681-0894 |
Neither the Toronto Stock Exchange nor the NYSE
American have reviewed or accepted responsibility for the accuracy
or adequacy of this press release, which has been prepared by
management.
This release includes certain statements that
may be deemed to be “forward-looking statements” within the meaning
of the US Private Securities Litigation Reform Act of 1995. All
statements in this release, other than statements of historical
facts are forward looking statements, including statements that
address future mineral production, reserve potential,
exploration drilling, exploitation activities and events or
developments. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar expressions. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements.
Although MAG believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include, but are not limited to, changes in
commodities prices, changes in mineral
production performance, exploitation and exploration
successes, continued availability of capital and financing, and
general economic, market or business conditions, political risk,
currency risk and capital cost inflation. In addition,
forward-looking statements are subject to various risks, including
that data is incomplete and considerable additional work will be
required to complete further evaluation, including but not limited
to drilling, engineering and socio-economic studies and
investment. The reader is referred to the Company’s filings
with the SEC and Canadian securities regulators for disclosure
regarding these and other risk factors. There is no certainty that
any forward-looking statement will come to pass and investors
should not place undue reliance upon forward-looking
statements.
Cautionary Note to Investors Concerning
Estimates of Indicated Resources
This press release uses the term "Indicated
Resources". MAG advises investors that although this term is
recognized and required by Canadian regulations (under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects),
the U.S. Securities and Exchange Commission does not recognize this
term. Investors are cautioned not to assume that any part or all of
mineral deposits in this category will ever be converted into
reserves.
Cautionary Note to Investors Concerning
Estimates of Inferred Resources
This press release uses the term "Inferred
Resources". MAG advises investors that although this term is
recognized and required by Canadian regulations (under National
Instrument 43-101 Standards of Disclosure for Mineral Projects),
the U.S. Securities and Exchange Commission does not recognize this
term. Investors are cautioned not to assume that any part or all of
the mineral deposits in this category will ever be converted into
reserves. In addition, "Inferred Resources" have a great amount of
uncertainty as to their existence, and 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. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility
studies, or economic studies except for Preliminary Assessment as
defined under Canadian National Instrument 43-101. Investors are
cautioned not to assume that part or all of an Inferred Resource
exists, or is economically or legally mineable.
Please Note:Investors are urged
to consider closely the disclosures in MAG's annual and quarterly
reports and other public filings, accessible through the Internet
at www.sedar.com and
www.sec.gov/edgar/searchedgar/companysearch.html
Figure 1: Valdecañas Vein West
Longitudinal
Sectionhttp://www.globenewswire.com/NewsRoom/AttachmentNg/0d0ecad7-7817-448a-b917-71c004b16646
Figure 2: Valdecañas Vein East
Longitudinal
Sectionhttp://www.globenewswire.com/NewsRoom/AttachmentNg/65cec099-10c5-4705-b2db-683b3921cb1c
Figure 3: Anticipada Vein Longitudinal
Sectionhttp://www.globenewswire.com/NewsRoom/AttachmentNg/e72587e8-2f28-423e-95ff-78a6e312d758
Figure 4: Pre-Anticipada Vein Longitudinal
Sectionhttp://www.globenewswire.com/NewsRoom/AttachmentNg/13be4693-548f-4cc2-b107-ee13e90da512
Figure 5: Valdecañas Vein System Cross
Section through Valdecañas East, Anticipada
and Pre-Anticipada
Veins.http://www.globenewswire.com/NewsRoom/AttachmentNg/73d8c9b0-18d4-466e-a375-d1c3bd8900d3
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