VANCOUVER - SILVER X MINING CORP. (TSXV: AGX) (OTC Pink: WRPSF) ('Silver X' or the 'Company') has acquired the 250 hectare Tangana West silver project that hosts high-grade silver-polymetallic veins with surface channel samples returning grades up to 9,379 g/t Ag, 2.7% Pb and 1% Zn over 1.5 metres.
The Tangana West mineralized structure extends 1.3 kilometres along strike and based on field observations of the new claims, is interpreted to be vertically continuous for over 500 metres. On Silver X's adjacent Tangana Mining Unit (Tangana), the Tangana 1 and 2 silver-gold-polymetallic veins extend over 1.7 kilometers along strike with an average width of 1.0 metres, at an average grade of 286.71 g/t AgEq. Silver X now controls over 3.0 kilometres of the Tangana silver-polymetallic mineralized system (Tangana and Tangana West), which has an average vein thickness of 1.05 metres.
'The acquisition of Tangana West is an important milestone for Silver X as we continue to consolidate the Nueva Recuperada district' said Jose Garcia, CEO of Silver X. 'This extension of Tangana, with initial surface channel sampling results up to 9 kilograms per tonne silver over a 1.5 meter vein width, gives the Company great potential for expanding its high grade production. We are continually assessing opportunities throughout Peru and Latin America as we grow our resource base.'
Under the agreement, Silver X has acquired unrestricted access and mining rights to the Las Animas & Los Tres Mosqueteros concessions from Sociedad Minera de Responsabilidad Limitada Las Animas. In return, the Company will pay a monthly fee of USD $5,000 or a 4% production royalty from the Las Animas and/or Los Tres Mosqueteros concessions whichever is greater. The agreement will automatically renew for a subsequent year upon commencing production
Tangana West Geology
The Tangana West Ag-Pb-Zn-Cu epithermal intermediate sulphidation vein-field is emplaced in an area covered by a series of magmatic breccias. Regional samples taken by the Company indicate the vein system extends for over 1.3 kilometres on the new 100% owned claims.
About Silver X Mining
Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The Company's flagship asset is the Nueva Recuperada silver lead zinc project located in Huancavelica, Peru. Founders and management have a successful track record of increasing shareholder value.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or 'U.S. Persons', as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Jose M Garcia
Tel: 1 604 358 1382
Cautionary Statement Regarding 'Forward-Looking' Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as 'expects', 'intends', 'is expected', 'potential', 'suggests' or variations of such words or phrases, or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the Company's exploration plans and development potential for the Company's properties. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.