- 4.2 m @ 778 g/t AgEq1
- 16.0 m @ 254 g/t AgEq, including 4.0 m @ 429 g/t AgEq
- 25.7 m @ 200 g/t AgEq
- 7.3 m @ 800 g/t AgEq
- 1.0 m @ 1,807 g/t AgEq
Two underground drill holes (PLI20-01, PLI20-02) drilled by
Our ongoing review and validation of historic data (SD-62 and SD-63) has confirmed the presence of Au-Cu rich mineralization in other levels of the Plomosas Mine Area (similar to the Zone 775 Discovery – see News Release dated
The integration of current drilling results with sampling and validation of historic data, has proved to be a valuable tool to support ongoing resource modelling, identifying potential areas to delineate additional underground resources and near surface resources.
The drilled area represents a highly prospective mineralized system incorporating multiple mineralization styles. The system is open for expansion along strike and down dip (see Figure 1).
The review, sampling and validation of the historical data has also revealed Au-Cu rich zones and narrow massive sphalerite-galena veins in the vicinity of high-grade polymetallic (Au-Cu-Ag-Pb-Zn) sulphide-rich mineralization, which was discovered during initial underground channel sampling on the lower (775m RL) level of the
Based on the recent underground and surface drilling results,
The Company has recently completed processing of an aeromagnetic and ground geophysical (IP) survey in both areas, with positive results identifying new anomalies in areas outside of the historic underground workings.
Table 1 summarizes the latest, most significant assay results for the Company's drilling program.
Table 1: Summary 2020 Surface-Underground Drill Hole Results - News Release
PLOMOSAS DRILLING PROGRAM 2020 | |||||||||||
Hole No. | Type | From | To | Drilled | Est. | Ag g/t | Au g/t | Pb % | Zn % | Cu % | AgEq g/t |
PLI20-01 | UG | 0.0 | 16.0 | 16.0 | 16.0 | 30 | 0.01 | 1.3 | 2.8 | 254 | |
includes | 0.0 | 4.0 | 4.0 | 4.0 | 55 | 0.01 | 4.0 | 8.3 | 429 | ||
PLI20-02 | UG | 3.4 | 35.4 | 32.0 | 32.0 | 18 | 0.30 | 1.0 | 1.7 | 130 | |
includes | 3.4 | 7.6 | 4.2 | 4.2 | 107 | 1.70 | 6.6 | 9.6 | 0.2 | 778 |
AgEq is based on long term gold, silver, zinc and lead prices of |
The review and validation of historic data is an important component of the upcoming resource modelling, due to its location on the surface and in the underground areas. The Company continues to release this historic information as validation is completed on site. Table 2 summarizes the most significant drill assay results for historic drilling data for this News Release.
Table 2: Summary Surface-Underground Historic Drill Hole Results - News Release
HISTORIC DRILLING DATA** | |||||||||||
Hole No. | Type | From | To | Drilled | Est. | Ag g/t | Au g/t | Pb % | Zn % | Cu % | AgEq g/t |
SD-58 | SURF | 256.1 | 282.0 | 25.9 | 25.5 | 9 | na | 0.5 | 0.8 | 0.2 | |
SD-62 | SURF | 307.2 | 332.9 | 25.7 | 25.3 | 31 | 0.12 | 0.8 | 1.4 | 1.3 | 200 |
SD-66 | SURF | 271.0 | 273.4 | 2.4 | 2.4 | 7 | 1.63 | 0.2 | 2.5 | na | |
297.8 | 308.2 | 10.4 | 10.4 | 12 | 0.27 | 2.2 | 1.4 | na | |||
318.0 | 345.8 | 27.9 | 27.8 | 17 | 0.12 | 0.7 | 0.9 | na | |||
351.4 | 366.9 | 15.5 | 15.4 | 17 | 1.19 | 0.6 | 1.1 | na | |||
SD-67 | SURF | 84.6 | 91.8 | 7.3 | 6.1 | 115 | 1.04 | 11.3 | 5.4 | 0.7 | 800 |
99.9 | 107.2 | 7.3 | 6.1 | 11 | 0.10 | 0.6 | 2.7 | na | |||
SD-69 | SURF | 96.6 | 111.9 | 15.3 | 15.0 | 59 | 0.13 | 0.3 | 0.6 | 0.4 | 125 |
SD-71 | SURF | 133.4 | 137.3 | 4.0 | 3.9 | 297 | na | 3.9 | 0.2 | na | 436 |
SD-74 | SURF | 74.4 | 84.2 | 9.8 | 7.0 | 106 | 0.86 | 11.2 | 2.8 | 0.4 | 680 |
102.8 | 142.5 | 39.7 | 39.1 | 13 | 0.16 | 0.8 | 1.2 | na | |||
158 | UG | 0.0 | 7.0 | 7.0 | 6.8 | 21 | 0.32 | 2.9 | 2.4 | na | 219 |
PD-121 | UG | 47.5 | 48.5 | 1.0 | 0.9 | 72 | 2.80 | 27.5 | 18.5 | na | 1,807 |
** Drilling Program completed by Grupo Mexico |
AgEq is based on long term gold, silver, zinc and lead prices of |
The Company continues to review and sample attractive new zones of mineralization in historical holes that were previously un-sampled. This has identified new mineralized zones providing additional surface and underground targets for the current drill program at the Plomosas Mine Area. Table 3 highlights sampling of historical holes related to the current News Release.
Table 3: Summary Sampling Results Historical Core - News Release
SAMPLING OF AVAILABLE UN-SAMPLED CORE*** | |||||||||||
Hole No. | Type | From | To | Drilled | Est. | Ag g/t | Au g/t | Pb % | Zn % | AgEq | |
PLI16-03 | UG | 148.9 | 152.8 | 4.0 | 3.9 | 17 | 0.04 | 0.1 | 0.2 | ||
PLI16-04 | UG | 280.9 | 301.7 | 20.9 | 20.2 | 4 | 0.06 | 0.1 | 0.2 |
*** Drilling Program completed by First Majestic |
AgEq is based on long term gold, silver, zinc and lead prices of |
The Plomosas Mine Area has a series of surface outcrops representing quartz stockwork veining and locally hydrothermal breccias hosted in a Tertiary bimodal volcanic (andesitic-rhyolitic) sequence, commonly intruded by rhyolitic dykes. Structurally, the area is marked by a series of high angle NW trending faults which are commonly intersecting the N-S low angle Plomosas Fault, a common host structure for Ag-Au-Pb-Zn polymetallic hydrothermal breccias. Alteration is mainly represented by a propylitic assemblage containing chlorite-epidote-quartz-pyrite and abundant specular hematite. Locally, on surface, argillic alteration halos and large oxidized zones are observed, a result of previous accumulation of pyrite and other sulphides. The polymetallic mineralization is mainly represented by fine galena and sphalerite, common hematite-quartz cemented hydrothermal breccias and vein infill. Late-stage quartz Ag-Au epithermal veining is commonly observed overprinting Ag-Pb-Zn mineralization in the hydrothermal breccias. Table 4 provides collar co-ordinates for the drill holes presented in this News Release.
Table 4: Drill Hole Locations – News Release
Hole No. | East (m) | North (m) | RL (m) | Azimuth | Dip | Depth (m) |
PLI20-01 | 451155 | 2551911 | 753 | 270 | -30 | 90 |
PLI20-02 | 451155 | 2551911 | 753 | 270 | -75 | 112 |
128 | 451061 | 2551906 | 751 | 0 | -90 | 100 |
130 | 451044 | 2551898 | 759 | 80 | -55 | 85 |
135 | 451420 | 2551881 | 927 | 90 | -80 | 88 |
138 | 451421 | 2551881 | 927 | 90 | -55 | 69 |
140 | 451422 | 2551881 | 927 | 90 | -35 | 65 |
158 | 451157 | 2551921 | 766 | 270 | 30 | 117 |
PD-121 | 451063 | 2551905 | 753 | 90 | -50 | 85 |
SD-58 | 451108 | 2551881 | 1036 | 270 | -83 | 282 |
SD-62 | 450993 | 2551881 | 1018 | 90 | -85 | 350 |
SD-66 | 450990 | 2551858 | 1010 | 0 | -90 | 377 |
SD-67 | 451405 | 2551868 | 1011 | 0 | -90 | 111 |
SD-69 | 451408 | 2551891 | 1010 | 270 | -74 | 112 |
SD-71 | 450993 | 2551881 | 1018 | 270 | -62 | 143 |
SD-73 | 451408 | 2551891 | 1011 | 270 | -83 | 410 |
SD-74 | 451405 | 2551868 | 1011 | 90 | -74 | 151 |
PLI16-03 | 450913 | 2551886 | 705 | 180 | -75 | 242.6 |
PLI16-04 | 450913 | 2551885 | 705 | 183 | -51 | 352.1 |
All numbers are rounded. |
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 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
The Company has commenced an 11,900 m 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 and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for 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, which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 resource estimate. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area.
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.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce
OTHER PROJECTS
Mr.
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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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1AgEq is based on long term gold, silver, zinc, lead and copper prices of
SOURCE
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