21.0 m @ 377 g/t Ag, 0.23 g/t Au, 0.7 % Pb and 1.5 % Zn (466 g/t AgEq1)
Including:
7.0 m @ 633 g/t Ag, 0.20 g/t Au, 0.9 % Pb and 1.5 % Zn (726 g/t AgEq)
The underground drill hole results reported in this News Release are part of the drilling program that will be incorporated with existing historic drilling data to support the upcoming resource estimate on the
The wide intervals, including 21 m of drilled silver mineralization, represent un-mined zones extending the mineralization footprint along strike and down-dip. The silver mineralization was intercepted up to 350 m below surface, in areas previously not drilled. An additional surface hole, completed in the vicinity of the Plomosas Mine Area, is also reported in this News Release, delineating a new wide zone of Pb-Zn-Ag-Au mineralization hosted by quartz-sulphide rich, banded epithermal veins.
Additional surface and underground core drilling is ongoing at the Plomosas Mine Area, along with 3D wireframe modelling of the mineralization, which will include these recently discovered high-grade Ag mineralized systems into the maiden resource estimate, scheduled for completion in Q2/2021.
The following figure illustrates a longitudinal section parallel to the Plomosas Fault along the 0.6 km trend that hosts precious and base metals mineralization at the Plomosas Mine Area, (Figure1).
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1 | AgEq is based on long term gold, silver, zinc, lead and copper prices of |
Drill holes reported in this News Release successfully confirmed and expanded the high-grade, bulk tonnage silver mineralized zones at the Plomosas Mine Area. Drilling by the Company in the lower levels of the historical mine area, where there is limited previous underground drilling, has consistently intercepted multiple broad zones of disseminated galena (Pb) and sphalerite (Zn) mineralization, in addition to multiple sub-parallel Ag-rich banded quartz epithermal veins, located on both the footwall and hanging wall of the Plomosas Fault. These drill holes are extending the footprint of the high-grade, bulk tonnage zone along strike and down-dip. Best intercepts from drill holes in these zones are shown in the tables below.
Table 1: Underground Drill Hole Assay Results - News Release
Hole No. | From | To | Drilled | True | Ag | Au | Pb % | Zn % | Cu % | AgEq |
PLI21-07 | 77.0 | 97.0 | 20.0 | 12.9 | 63 | 0.03 | 0.1 | 0.1 | na | 73 |
includes | 89.5 | 97.0 | 7.5 | 4.8 | 126 | 0.03 | na | 0.1 | na | 132 |
112.0 | 133.0 | 21.0 | 13.5 | 377 | 0.23 | 0.7 | 1.5 | na | 466 | |
includes | 112.5 | 119.5 | 7.0 | 4.5 | 633 | 0.20 | 0.9 | 1.5 | na | 726 |
includes | 112.5 | 114.0 | 1.5 | 1.0 | 1,987 | 0.58 | 1.9 | 4.0 | na | 2,218 |
PLI21-06 | 54.5 | 94.0 | 39.5 | 27.9 | 5 | 0.06 | 0.3 | 0.4 | na | |
PLI21-05 | 0.0 | 71.0 | 71.0 | 30.0 | 10 | 0.20 | 0.2 | 0.4 | 0.1 | 48 |
PLI21-04 | 20.0 | 49.0 | 29.0 | 27.3 | 5 | 0.09 | 0.2 | 0.3 | 0.1 | |
PLI21-03 | 0.0 | 69.0 | 69.0 | 68.9 | 9 | 0.15 | 0.3 | 0.4 | 0.1 | |
PLI17-20 | 166.4 | 171.3 | 4.9 | 4.8 | 31 | 0.10 | 0.4 | 1.9 | na | 108 |
PLI17-25 | 43.9 | 54.2 | 10.3 | 8.4 | 9 | 0.06 | 0.1 | 0.4 | 0.3 | |
87.9 | 89.1 | 1.2 | 1.0 | 144 | 0.60 | 0.5 | na | 0.1 | 230 | |
PLI17-29 | 53.5 | 55.8 | 2.4 | 2.4 | 81 | 0.20 | 0.3 | 1.0 | 0.2 | 152 |
PLI17-34 | 52.3 | 73.9 | 21.6 | 21.5 | 9 | 0.20 | 0.3 | 0.4 | na | |
79.7 | 87.3 | 7.6 | 7.6 | 42 | 0.20 | 0.3 | 0.7 | na | 92 | |
PLI17-40 | 50.1 | 53.3 | 3.2 | 2.3 | 94 | 0.26 | 0.4 | 0.4 | na | 143 |
82.9 | 89.6 | 6.7 | 4.7 | 30 | 0.30 | 0.3 | 0.3 | na | 77 |
See note below |
Table 2: Surface Drill Hole Assay Results - News Release
Hole No. | From | To | Drilled | True | Ag g/t | Au g/t | Pb % | Zn % | Cu % | AgEq |
PLS20-08 | 246.0 | 330.0 | 84.0 | 84.0 | 7 | 0.14 | 1.0 | 0.6 | 0.01 | |
includes
| 246.0 | 256.0 | 10.0 | 10.0 | 6 | 0.50 | 1.0 | 1.1 | 0.01 | |
282.2 | 293.2 | 11.0 | 11.0 | 19 | 0.20 | 2.2 | 1.4 | 0.09 | 159 | |
SD-2 | 343.6 | 350.6 | 7.0 | 7.0 | 4 | 1.10 | 0.4 | 2.0 | 0.01 |
AgEq is based on long term gold, silver, zinc, lead and copper prices of |
The following table (Table 3) summarizes the collar locations for drill holes reported in this News Release.
Table 3: Drill Hole Locations – News Release
Hole No. | East (m) | North (m) | RL (m) | Dip (˚) | Azimuth | Depth |
PLI21-07 | 451099 | 2551713 | 732 | -10 | 115 | 147.3 |
PLI21-06 | 451073 | 2551749 | 728 | 0 | 110 | 144.0 |
PLI21-05 | 451111 | 2551797 | 708 | -50 | 95 | 93.2 |
PLI21-04 | 451112 | 2551797 | 705 | -45 | 90 | 52.5 |
PLI21-03 | 451111 | 2551797 | 708 | -60 | 295 | 100.5 |
PLI17-20 | 450926 | 2551773 | 731 | -45 | 90 | 207.0 |
PLI17-25 | 450926 | 2551771 | 731 | -60 | 138 | 300.0 |
PLI17-29 | 450928 | 2551774 | 731 | -75 | 354 | 220.0 |
PLI17-34 | 451025 | 2551793 | 729 | -50 | 90 | 144.7 |
PLI17-40 | 451024 | 2551794 | 728 | -80 | 80 | 123.3 |
PLS20-08 | 451052 | 2551793 | 966 | -75 | 180 | 561.0 |
SD-2 | 450910 | 2551768 | 946 | -90 | 0 | 421.1 |
All numbers are rounded. Red drill holes are drilled by GRSL; East (m) and North (m) are UTM coordinates in WGS84, zone 13. |
The Ag-rich mineralization in PLI21-07 is represented by NW oriented crustiform-banded silica-rich epithermal veins, crosscutting or subparallel to the N-S oriented Plomosas Fault (see link to Core Photos). The Plomosas Fault commonly hosts high-grade Ag-Au-Pb-Zn hydrothermal breccias, with evidence of multiple stages of brecciation and mineralization within the Plomosas Mine Area. The hydrothermal breccias rich in base metals appear to indicate an early stage mineralized system, which has undergone reactivation and remobilization. The crustiform-colloform veins yield a precious metals-rich epithermal system with potential for high grade mineralization at depth. A NE oriented fault system also demonstrates potential for high-grade Au mineralized zones with indications in places of an association with copper mineralization. At some underground levels, where all three structural systems intersect, the presence of wide, potentially bulk mineable mineralized zones are common.
Preliminary processed results of ground magnetic and IP geophysical survey data have recently indicated significant multiple shallow anomalous zones in the vicinity of the Plomosas Mine Area. IP and magnetic anomalies may be related to shallow sulphide-bearing mineralization, in and around the modelled resource area, expanding the potential footprint of the mineralized system, (Figure 1).
The Plomosas Mine Area and
The integration of the
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2 | Refer to News Release dated |
Qualified Person
The scientific and technical data contained in this News Release related to the
Quality Assurance Program and Quality Control Procedures ("QA/QC")
The Company has implemented QA/QC procedures which include insertion of blank, duplicate and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in
The recent drill holes, completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by
About
PLOMOSAS SILVER PROJECT
The Project has an 8,515-hectare property position and is strategically located within 5 km of the
The
The Company is carrying out a drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the
The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km - 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately
The silver-gold mineralization on this Project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal mineralized vein/breccia system. Previous exploration was focused on polymetallic (Pb-Zn-Ag-Au) shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions of the main N-S Plomosas Fault remain under-explored.
In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.
SAN MARCIAL PROJECT
San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. The Company filed a National Instrument 43-101 ("NI 43-101") report entitled "San Marcial Project Resource Estimation and Technical Report,
Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource area.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce
OTHER PROJECTS
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Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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