- 8.6 m @ 6.50g/t Au, 79 g/t Ag, 0.7 % Pb, 5.8 % Zn (928 g/t AgEq1)
- 5.4 m @ 9.06 g/t Au, 76 g/t Ag, 1.5 % Pb, 4.6 % Zn (1,181 g/t AgEq)
- 0.7 m @ 19.95 g/t Au, 227 g/t Ag, 1.3 % Pb, 4.7 % Zn and 1.0 % Cu (2,507 g/t AgEq)
- 61.1 m @ 0.4 g/t Au, 30 g/t Ag, 0.9 % Pb, 1.1 % Zn and 0.2 % Cu (144 g/t AgEq)
The underground drilling program is targeting high-grade Ag-Au epithermal mineralization and bulk tonnage-style polymetallic mineralization in the Plomosas Mine Area, with the objective to delineate high margin precious and base metals mineralization for planned resource estimation.
The results of the current drilling program, combined with systematic sampling of historic un-sampled drill core, at the Plomosas Mine Area, continue to delineate extensions of the mineralization previously drilled at level 775 (see News Release dated
1 AgEq is based on long term gold, silver, zinc, lead and copper prices of |
The surface and underground diamond drilling program, together with sampling of existing historic core, is designed to delineate new mineralized zones and enhance 3D geological modelling at adequate spacing to support the upcoming resource estimation. The program has been successful in discovering and confirming the continuity of epithermal mineralization throughout the Plomosas Mine Area, in zones previously unexplored.
The drilling results (Table 1) demonstrate the upside potential of the Plomosas Mine Area and show results which are expected to add to the upcoming resource estimation. Table 1 and 2 summarize the most significant assay results for the drill holes reported in this News Release.
Table 1: Underground and Surface Drill Hole Assay Results - News Release
Hole No. | Type | From | To | Drilled | Ag g/t | Au g/t | Pb % | Zn % | Cu % | AgEq |
PLI20-05 | UG | 76.0 | 80.0 | 4.0 | 39 | 2.63 | 0.2 | 0.1 | 0.2 | |
includes | 77.0 | 78.0 | 1.0 | 136 | 8.95 | 0.6 | 0.1 | 0.4 | 1,101 | |
includes | 108.9 | 118.0 | 9.2 | 25 | 2.77 | 0.2 | 0.6 | 0.2 | ||
108.9 | 109.5 | 0.6 | 227 | 19.95 | 1.3 | 4.7 | 1.0 | 2,507 | ||
PLI20-06 | UG | 0.0 | 8.0 | 8.0 | 5 | 0.01 | 0.3 | 1.0 | 0.1 | |
PLI17-32 | UG | 63.9 | 74.5 | 10.6 | 68 | 1. 37 | 0.4 | 0.6 | 0.1 | 245 |
As final interpretation of the 3D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths. AgEq is based on long term gold, silver, zinc and lead prices of |
Table 2: Historic Surface and Underground Drill Hole Assay Results - News Release
Hole No. | Type | From | To | Drilled | Ag g/t | Au g/t | Pb % | Zn % | Cu % | AgEq |
28 | UG | 35.2 | 36.9 | 1.7 | 12 | 1.7 | 1.5 | 4.5 | * | |
72 | UG | 0.0 | 6.1 | 6.1 | 127 | 0.01 | 1.3 | 0.9 | * | 198 |
UG | 11.8 | 14.8 | 3.0 | 288 | 0.01 | 0.2 | 0.4 | * | 307 | |
75 | UG | 0.0 | 12.0 | 12.0 | 105 | 0.01 | 1.1 | 0.9 | * | 169 |
113 | UG | 49.4 | 58.0 | 8.6 | 79 | 6.50 | 0.7 | 5.8 | * | 928 |
128 | UG | 43.0 | 50.8 | 7.8 | 24 | 1.33 | 0.8 | 3.8 | * | |
128 | UG | 50.8 | 56.2 | 5.4 | 76 | 9.06 | 1.5 | 4.6 | * | 1,181 |
130 | UG | 31.0 | 32.0 | 1.0 | 20 | 6.00 | 0.6 | 2.6 | * | |
UG | 34.5 | 37.0 | 2.5 | 28 | 1.24 | 1.1 | 1.8 | * | ||
135 | UG | 59.5 | 61.8 | 2.3 | 30 | 0.2 | 15.7 | 4.1 | * | |
138 | UG | 46.5 | 49.7 | 3.2 | 15 | 0.03 | 6.4 | 3.9 | * | |
140 | UG | 4.8 | 5.8 | 1.0 | 25 | 0.03 | 5.1 | 1.2 | * | |
200 | UG | 0.0 | 17.7 | 17.7 | 19 | 0.05 | 2.2 | 2.4 | * | |
UG | 23.7 | 24.1 | 0.4 | 130 | 0.02 | 10.0 | 14.1 | * | 862 | |
UG | 28.8 | 29.8 | 1.0 | 110 | 0.07 | 0.6 | 2.8 | * | 215 | |
202 | UG | 0.0 | 5.5 | 5.5 | 34 | 0.08 | 3.0 | 1.9 | * | |
SD-19 | SURF | 209.0 | 215.0 | 6.0 | 10 | 0.2 | 2.2 | 0.6 | 0.2 | |
SURF | 231.0 | 241.0 | 10.0 | 37 | 0.2 | 1.1 | 0.6 | 0.2 | ||
SD-24 | SURF | 213.6 | 225.5 | 11.9 | 10 | 0.4 | 0.2 | 0.6 | * | |
SD-32 | SURF | 212.1 | 273.2 | 61.1 | 29 | 0.4 | 0.9 | 1.1 | 0.2 | 144 |
SD-44 | SURF | 281.2 | 281.8 | 0.6 | 330 | 0.2 | 8.6 | 9.1 | 5.4 | 1,244 |
SURF | 293.9 | 305.2 | 11.3 | 16 | 0.4 | 3.0 | 3.2 | * | ||
SD-9 | SURF | 252.9 | 261.3 | 8.4 | 17 | 3.2 | 2.4 | 1.1 | * | 457 |
As final interpretation of the 3D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths. AgEq is based on long term gold, silver, zinc and lead 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 (m) |
PLI20-05 | 451136 | 2551933 | 748 | -30 | 300 | 188 |
PLI20-06 | 451136 | 2551933 | 748 | -15 | 315 | 128 |
PLI17-32 | 451035 | 2551807 | 750 | -40 | 65 | 124 |
28 | 451446 | 2551858 | 927 | -90 | 0 | 53 |
72 | 451437 | 2551841 | 929 | 55 | 270 | 37 |
75 | 451437 | 2551841 | 929 | 30 | 270 | 46 |
113 | 451044 | 2551898 | 751 | -90 | 0 | 122 |
128 | 451061 | 2551906 | 751 | -90 | 0 | 100 |
130 | 451044 | 2551898 | 759 | -55 | 80 | 85 |
135 | 451420 | 2551881 | 927 | -80 | 90 | 88 |
138 | 451421 | 2551881 | 927 | -55 | 90 | 69 |
140 | 451422 | 2551881 | 927 | -35 | 90 | 65 |
200 | 451239 | 2551978 | 810 | 0 | 270 | 34 |
202 | 451247 | 2551978 | 810 | 0 | 90 | 43 |
SD-19 | 451049 | 2551838 | 990 | -75 | 90 | 263 |
SD-24 | 451049 | 2551838 | 990 | -90 | 0 | 275 |
SD-32 | 451049 | 2551838 | 990 | -80 | 90 | 328 |
SD-44 | 451105 | 2551858 | 1,024 | -90 | 0 | 312 |
SD-9 | 451075 | 2551782 | 999 | -75 | 360 | 292 |
All numbers are rounded. Red drill holes are drilled by GRSL |
The drill hole PLI20-05 represents a 60 m step-out along strike from the previously released high-grade Au-Cu mineralization discovered at the deepest level (775m RL) of the Plomosas Mine Area (see News Release dated
The drill hole SD-09 represents unmined zones, with underground development/access completed in the past. The polymetallic breccia at this level of the historical workings, reports high Au content together with Pb-Zn mineralization hosted in sulfide rich (Pb-Zn) banded crustiform quartz veinlets.
The drill hole SD-32 represents the eastern limit of the mineralization defined in level 775, and is located between two historical underground developments. It confirmed the presence of a broad, bulk mineable style of mineralization, with widespread concentration of disseminated sulfides throughout the whole 61 m mineralized interval.
The drill holes, 28-72-75-113-128-130-135-138-140-200-202 and PLI17-32 represent historical underground holes drilled in various levels of the Plomosas Mine Area with positive intersection of Ag-Au-Pb-Zn rich Plomosas hydrothermal breccia.
Management believes that the large epithermal system at the Plomosas Mine Area is hosted by regional high and low angle structures cross-cutting a suite of acid/basic volcanic units, widely altered to clay minerals visible at surface in some areas (Figure 2). This type of alteration is typical of the upper part of large epithermal systems and could represent additional zones of underlying epithermal quartz veining, similar to veins currently exposed in the historic underground workings. The potential extent of mineralization of these exploration targets is still conceptual in nature, however, provides additional evidence of the large and rich footprint of precious and base metal mineralization in the
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
The Company also announces it has received TSX-V approval to the shares for debt transactions previously announced on
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 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 sulfidation 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 has filed a National Instrument 43-101 ("NI 43-101") report entitled "San Marcial Project Resource Estimation and Technocal 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.
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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