The program expanded and upgraded the wide, high-grade
Drill Highlights
Confirms and expands continuous wide, high-grade mineralization in the
Confirms and expands the wide, high-grade zones in the Anticipada Vein
Confirms and expands the Venadas Vein to the south with strong silver and gold grades
Discovery of northeast-trending Valentina and Venadas II veins through drilling and development.
'With production from the
The Valdecanas Vein System is a multi-stage, high-grade northwest-trending vein swarm comprising the Valdecanas Vein, the sub-parallel hangingwall Anticipada and Pre-Anticipada Veins and several smaller splays. Additional proximal veins to Valdecanas include the parallel Juanicipio vein located 1,000m to the south and 3 newly discovered northeast-trending veins (Venadas, Venadas II and Valentina) all of which intersect the Valdecanas Vein. Remodeling now shows Valdecanas as a single vein with deep dilatant zones (bulges) on each side, and also significantly extends the Anticipada Vein to the east.
Valdecanas Vein Infill
Drilling in 2019 returned the thickest and deepest lateral intercepts to date on the Valdecanas Vein, with deep mineralization now continuous over a 2,000m strike length and up to 1,100m vertically from the top of the
Notably, many intercepts in the
Anticipada Vein
The Anticipada Vein is sub-parallel to and lies 50-100m in the hangingwall of the Valdecanas Vein. In 2019 it was coincidentally cut by 11 holes targeting the Valdecanas Vein and several of these intercepts significantly expand the vein. This is especially the case in a vertical zone along its western reaches where it widens and higher grades appear. The best intercept is in Hole D6-6, which cut 21.2m (true width) grading 147 g/t (4.3 opt) silver, 1.2 g/t gold, 3.9% lead, 8.8% zinc and 0.3% copper. This includes a 1m (true width) zone that ran 548 g/t (16 opt) silver, 2.1 g/t gold, 17.4% lead, 14.2% zinc and 0.9% copper. Two other holes (D5-10 and D5-11) extend the well-mineralized zone on the eastern end of the vein. The remaining six holes tested the western limits of the vein and show moderate to relatively weak mineralization. The Anticipada Vein remains open to depth and to the east.
Pre-Anticipada Vein
The Pre-Anticipada Vein is also subparallel to the Valdecanas Vein and is located a further 50-100m into hangingwall above the Anticipada Vein. It was coincidentally cut by five infill holes targeting the Valdecanas Vein but their geometry was not favourable. The two easternmost holes (D5-8 and D5-9) cut appreciable silver and gold values within the coherent high-grade zone that characterizes the Pre-Anticipada Vein but do not significantly expand it. Pre-Anticipada remains open for 200-300m to the eastern property boundary and to depth.
Venadas, Venadas II (NEW DISCOVERY) and Valentina (NEW DISCOVERY) Veins
Five surface drill holes tested the Venadas Vein, the first northeasterly-trending vein ever found in the
The intercepts for Venadas, Venadas II and Valentina lack significant base metal grades (with the exception of one intercept) indicating that these holes have likely cut the veins high in the mineralizing system. Also, all three veins have been intercepted on both the hangingwall and footwall side of the Valdecanas Vein in drill core and underground workings. This, combined with underground exposures of mineralized cross cutting northeast trending veinlets, strongly suggest that these veins cross-cut the main-stage of the Valdecanas Vein and may coincide with the long-recognized late gold-rich mineralization stage. Short-hole underground drilling and drifting is contemplated for fleshing out these veins and determining what relationship they have with the Valdecanas Vein.
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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 MAG's filings with the
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