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MAG Silver Confirms Discovery of New Structure at Juanicipio Property

MAG Silver has confirmed the new high-grade structure discovered at the Juanicipio Joint Venture property, located in Zacatecas State, Mexico, through the latest diamond drilling program.

The Las Venadas Structure lies about halfway between the Juanicipio and Valdecañas Veins. This new discovery strengthens the long-standing prospects of the company that the potential for the discovery of several veins remain high in the Juanicipio project region.

Plan and location of Las Venadas structure

Fresnillo, the partner and joint venture contractor of MAG, announced that the drill hole 43P intersected 491 g/t silver and 2.69 g/t gold over 3.82 m, including some traces of zinc and lead. It has also returned 965 g/t silver and 6.39 g/t gold over 1.52 m, which is a high-grade zone.

The company has encountered the apparently deep mineralized quartz formation in the same section of the additional drill hole 44P. The assay results for the hole 44P are pending.

These three bore holes collectively substantiate the new structure discovery at the Juanicipio property. An additional drilling will determine the importance of this new structure. The company’s discovery of this third structure at the Juanicipio property is a significant event in the project’s development.

The hole 37P is the initial hole in this south dipping formation, intersecting 0.94 g/t gold, 490 g/t silver, and negligible values of base metal over 2.75 m. The hole 43P approximately cut this new structure 100 m deeper than the hole 37P.

The company drilled the hole 44P on the same segment as 43P in order to cut the new formation 100 m deeper than the hole 43P. It has encountered a 2.65 m broad quartz structure, including arsenopyrite, visible acanthite, fluorite and pyrite commencing at 594.85 m. The mentioned three holes are in the same section.

The company currently has eight active rigs drilling at the Juanicipio property.

Minera Juanicipio operates the joint venture and it is owned 56% by Fresnillo and 44% by MAG Silver.

Source: http://www.magsilver.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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