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.