MAG Silver Corp. ("MAG" or the "Company") announces that its joint venture partner and project operator, Fresnillo plc ("Fresnillo"), has commenced underground development at the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico.
Portal area preparation is in the final stages of completion and a continuous miner is planned to start excavating the uppermost part of the access ramp. The initiation of underground work follows a year of engineering, hydrological and environmental studies in support of required permits, all of which are now in hand. The underground work is being carried out under a previously approved initial development budget that includes the commencement of the first 2,500 metres of ramp advancement. The Juanicipio Project is held in Minera Juanicipio S.A. de C.V. ("Minera Juanicipio"), a Mexican joint venture company owned 44% by MAG and 56% by Fresnillo.
George Paspalas, the Company's newly appointed President & CEO, commented "I am very pleased to be joining MAG at this pivotal time in the company's evolution as we start the development that will lead towards production at Juanicipio."
Qualified Person: Dan MacInnis, P. Geo., a certified professional geologist who is a "Qualified Person" for purposes National Instrument 43-101, Standards of Disclosure for Mineral Projects has read and approved the contents of this press release.
About MAG Silver Corp.
MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. MAG is conducting ongoing exploration of its portfolio of 100% owned properties in Mexico including a silver, lead and zinc discovery and a moly-gold discovery at its 100% owned Cinco de Mayo property in Chihuahua State. MAG and Fresnillo plc are jointly developing the Valdecañas Vein and delineating the Desprendido and Juanicipio discoveries on the Juanicipio Joint Venture in Zacatecas State. MAG is based in Vancouver, British Columbia, Canada. Its common shares trade on the TSX under the symbol MAG and on the NYSE MKT under the symbol MVG.
On behalf of the Board of MAG SILVER CORP.
"George Paspalas", President & CEO, Director
"Dan MacInnis", Director
Source: http://www.magsilver.com