Wednesday, 27th July 2005 (3419 views)

Great Panther Resources has announced that its exploration of the 12,275 hectare San Antonio property in the Guadalupe y Calvo Mining District of southwest Chihuahua State, Mexico has outlined the presence of a gold-copper system more than 14 square kilometres in size.

The company said the exploration may be the first time a firm has recognised the significance and extent of mineralisation in the area.

Great Panther's mapping has indicated a 'window' of the Tertiary age Lower Volcanic Sequence extending more than 17 kilometres by six kilometres and the majority of gold deposits in the Sierra Madre are hosted within this sequence of rocks.

Great Panther has been able to systematically map and sample the extensive San Antonio property using a valley that provides an 800m vertical section through the rocks and has followed up with a Phase I diamond drilling program. A total of 20 separate mineralised structures have been identified in the area to date.

The company's spring 2005 drill program was focused on testing the three principal vein systems and the most significant results were intersected along the Santo Nino Zone. Underground sampling on the zone in 2004 returned an average grade of 7.75g/t gold over an average width of 3.03 metres along a 25 metre strike length.

 

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