Silvermex Announces Positive Results of San Marcial Drill Program

Silvermex Resources Ltd. ("Silvermex") (TSX VENTURE:SMR) is pleased to announce
that is has completed a twenty-two hole, 3,706.5 meter diamond drill program on
its San Marcial silver property located in southern Sinaloa state, Mexico. 


The program was designed to provide in-fill drill hole information in order to
increase the degree of confidence in the strike and down dip continuity of the
mineralized zone identified in previous drill programs. 


Initial assay results have been received for all drill holes and check assaying
of all of the mineralized intercepts plus selected other intervals is in
progress. 


Significant silver mineralization occurs in a broad zone over a strike length of
at least 350 meters and to a depth of at least 500 meters. In the current drill
program silver mineralization occurred over widths varying from 4.45 meters to
over 29.0 meters with grades from 72.9 - 327.0 g/t Ag. A zone of higher grade
mineralization with excellent continuity exists with this broader envelope of
lower grade material including values of 502.5 g/t Ag over 4.50 meters, 483.2
g/t Ag over 4.50 meters and 335.4 g/t Ag over 5.0 meters. 


The mineralization has been closed off to the northwest by a fault but remains
open along strike to the southeast where drill hole SM-10-21 encountered 19.45
meters @ 188.5 g/t Ag including 4.70 meters @ 316.7 Ag/t Ag and 5.00 meters @
335.4 g/t Ag. 


Drill hole SM-10-22 was drilled to test the down dip continuation of the
mineralized zone. The hole intersected 11.50 meters @ 224.2 g/t Ag including
4.50 meters @ 483.2 g/t Ag at a depth 50 meters deeper than any previous
intersection confirming the potential for additional mineralization at depth.


Michael Callahan, Silvermex President, reports, "We are very pleased with the
results of the recent drill program. The program was very successful in
fulfilling the objectives we established and the mineralized zone remains open
on strike and at depth. It provides the necessary data to complete a new
resource block model and comprehensive mine plan. The data will be incorporated
into the Preliminary Economic Assessment which is scheduled for completion in Q4
of this year."




Table 1. San Marcial Assay Results 2010 Drilling                            
-------------------------------------------------------
Hole No              From        To     Width    g/t Ag
-------------------------------------------------------
SM-10-01            60.00     83.10     23.10      90.1
-------------------------------------------------------
including           60.00     61.70      1.70     156.8
-------------------------------------------------------
SM-10-02           107.80    129.50     21.70      91.7
-------------------------------------------------------
including          122.30    128.50      6.20     168.3
-------------------------------------------------------
SM-10-03            46.02     75.30     29.28      95.4
-------------------------------------------------------
including           48.02     53.02      5.00     304.8
-------------------------------------------------------
SM-10-04           100.15    119.50     19.35     104.3
-------------------------------------------------------
including          105.30    108.30      3.00     279.0
-------------------------------------------------------
SM-10-06           154.50    180.00     25.50     132.1
-------------------------------------------------------
including          156.50    161.00      4.50     502.5
-------------------------------------------------------
SM-10-07           138.70    153.28     14.58     131.9
-------------------------------------------------------
including          103.19    104.44      1.25     258.0
-------------------------------------------------------
SM-10-08           101.00    120.00     19.00     112.4
-------------------------------------------------------
including          116.00    120.00      4.00     408.2
-------------------------------------------------------
SM-10-09           114.18    133.50     19.32      72.9
-------------------------------------------------------
including          102.90    104.15      1.25     142.0
-------------------------------------------------------
SM-10-11           118.45    137.00     18.55      94.9
-------------------------------------------------------
including          122.60    125.40      2.80     211.0
-------------------------------------------------------
SM-10-12           118.00    134.00     16.00      89.9
-------------------------------------------------------
including          123.40    127.80      4.40     172.0
-------------------------------------------------------
SM-10-15            53.80     67.25     13.45     327.0
-------------------------------------------------------
including           54.00     55.00      1.00    3720.0
-------------------------------------------------------
SM-10-19            27.00     37.00     10.00      99.8
-------------------------------------------------------
including           31.50     34.00      2.50     237.8
-------------------------------------------------------
SM-10-20            69.85      74.3      4.45     120.1
-------------------------------------------------------
including           69.85     70.85      1.00     159.0
-------------------------------------------------------
including           73.35     74.30      0.95     245.1
-------------------------------------------------------
SM-10-21            23.65     43.10     19.45     188.5
-------------------------------------------------------
including           24.60     29.30      4.70     316.7
-------------------------------------------------------
including           37.50     42.50      5.00     335.4
-------------------------------------------------------
SM-10-22           255.70    267.20     11.50     224.2
-------------------------------------------------------
including          256.70    261.20      4.50     483.2
-------------------------------------------------------



Upon receipt of all of the check assays an updated mineral resource estimate
will be prepared.


The San Marcial mineralization is known by previous work to respond well to
cyanide leaching. Additional metallurgical test work is planned in particular to
refine the cyanide leaching process. 


All samples were sent to ALS Chemex Laboratories sample preparation facility in
Guadalajara Mexico with final analysis done at their facilities in Vancouver,
BC. Certified standards, blank, and duplicate samples were inserted in every
batch of 20 samples to ensure laboratory QA-QC performance. Assaying for gold
and silver was by fire assay and other elements by four acid ICP-AES.


The San Marcial property forms part of the Company's recently acquired
consolidated Rosario Mining Concession. This 16,279 ha concession includes
numerous past producing mines including the Plomosas and San Juan mines which
were operated by Grupo Mexico until 2001.


Pursuant to National Instrument 43-101, Robert Fraser, P.Geo., Vice-President
Exploration of Silvermex Resources Ltd. is the Qualified Person (QP) responsible
for the disclosure in this news release.


About Silvermex 

Silvermex Resources is a well funded exploration and development company focused
on advancing the recently consolidated Rosario/San Marcial Mining Camp in south
eastern Sinaloa, Mexico. This mining concession consists of 2 past producing
mines and numerous known high-grade deposits. The project has significant
resources and historic reserves with extensive production related infrastructure
in place. Silvermex is led by a highly experienced and successful team,
comprised of top executives from leading corporations in the silver mining
sector. 


On Behalf of the Board of Directors of Silvermex Resources Ltd.

Duane Nelson, CEO & Director

This News Release contains forward-looking statements. Forward looking
statements are statements which relate to future events. In some cases, you can
identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", believes", "estimates", "predicts",
"potential", or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our actual results, level
of activity, performance or achievements to be materially different from any
future results, levels of activity, performance, or achievements expressed or
implied by these forward-looking-statements. Management has assumed that these
will be our major projects going forward. Risks include that we are unable to
satisfy environmental or other regulators, that we determine that our resources
are not commercially viable, or that we have difficulties due to unavailability
of labour or equipment. 


While these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggests herein. Except as required by applicable law the
Company does not intend to update any forward-looking statements to conform
these statements to actual results.
Shine Minerals (TSXV:SMR)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024