MAG Silver: Wide and High-Grade Intercepts Extend Valdecanas Deep Zone West; Strong Gold Revealed in Valdecanas Deep Zone East; and New Anticipada Vein Takes Form
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2017) - MAG Silver Corp. (TSX:MAG)(NYSE MKT:MAG) ("MAG" or the "Company") reports on 13 exploration and infill drill holes that further extend wide, high-grade mineralization in the Deep Zones (Table 1) of the Valdecañas Vein System on the Minera Juanicipio joint venture property (Fresnillo plc 56%; MAG 44%) previously announced August 15, 2016 and April 23, 2015.
Valdecañas is an en echelon vein system comprising the overlapping East and West Veins with several hangingwall and footwall splays. The Deep Zone West has now been traced over 550 meters ("m") in strike length, almost to the western claim boundary, with vein widths ranging from 11.4m to 26.5m and a minimum vertical height of 200m (Figure 1). The best hole from this zone reported here is P17 which cut 9.70m (true width) grading 120 grams per tonne ("g/t") (3.51 ounces per ton ("opt")) silver, 2.46 g/t gold, 5.55% lead, 5.08% zinc, 0.21% copper (Figure 1 and Table 1). The Deep Zone East is continuous over 750m of strike length with widths ranging from 5.6m to 29.9m over a vertical extent up to 300m and appears more irregular than the Deep Zone West (Figures 2 and 4). Both Deep Zones show elevated gold with the highest gold appearing in Hole VM6 in the Deep Zone East, which cut 5.20m (true width) grading 333 g/t (9.72 opt) silver, 16.87 g/t gold; 4.47% lead, 3.77% zinc, 1.04% copper, including: 1.44m (true width) grading 854 g/t (24.91 opt silver); 54.67 g/t gold, 3.21% lead, 2.72% zinc, 2.28% copper (Table 1).
Figures 1, 2, 3, and 4
Significantly, the recently discovered Anticipada Vein (see Press Release of August 15, 2016), which lies in the hangingwall of the Deep Zone East has also been extended to over 700m in length, with widths ranging from 2.0m to 12.8m and a vertical extent of 100m to 350m (Figures 3 and 4). The best new Anticipada intercept is Hole VM6 which cut 5.60m (true width) grading 177 g/t (5.15 opt) silver, 7.36 g/t gold, 2.39% lead, 6.31% zinc and 0.12% copper, including: 3.15m (true width) grading 283 g/t (8.25 opt silver); 12.62 g/t gold, 3.62% lead, 8.42% zinc, 0.17% copper.
The Valdecañas Vein System and the Anticipada Vein remain open in several directions (Figures 1 to 4) and three drill rigs are currently drilling to extend these veins: two on the west and one on the east.
"We are very happy to have traced wide, high-grade mineralization in the Valdecañas Deep Zone West nearly to the western property boundary and see that the Anticipada Vein is fleshing out to significant size", said George Paspalas, President and CEO of MAG. "Perhaps more exciting though are the numerous high gold values we're seeing at depth, especially in the Deep Zone East. People think of Juanicipio as a high-grade silver project and now it appears to be shaping up into a sizable gold asset as well".
In addition to the Deep Zone extension drilling, 8 in-fill drill holes are reported here (Table 2). Designed to fill gaps in the resource and allow upgrading of Inferred Resources to Indicated in selected areas (Figures 1 and 2), these holes generally cut mineralization similar to that in neighbouring holes. The best example of these is Hole RV5, which went in near the top of the Bonanza Zone to confirm results from a nearby hole with poor recovery. RV5 cut 3.5m (true width) grading 2009 g/t (58.59 opt) silver, 6.94 g/t gold, 0.36% lead, 0.74% zinc, 0.03% copper; results comparable to the earlier nearby hole.
Table 1: Assay Results - Exploration Step Out Holes(3)
|Hole ID||From||To||Interval||TW(2)||Ag (g/t)||Ag (opt)||Au (g/t)||Pb (%)||Zn (%)||Cu (%)||Vein(1)|
Table 2: Assay Results - Infill Drill Holes(3)
|Hole ID||From||To||Int.||TW(2)||Ag (g/t)||Ag (opt)||Au (g/t)||Pb (%)||Zn (%)||Cu (%)||Vein(1)|
|(1)||V1W = Valdecañas Vein West; V1E = Valdecañas Vein East; V2W = West Footwall Vein; VANT = Anticipada Vein; SK = zone of skarn alteration; TBD = To be determined.|
|(2)||True widths were estimated from cross sections and core angles. Where indicated as "NA" the true width of the structure cannot be reasonably estimated.|
Drilling results to date from the Deep Zone show the typical thickening and complementary thinning of a classic "dilatant zone" stemming from steepening and flattening of the veins (see Press Release of August 15, 2016). The horizontally-elongated dilatant zone in the Deep Zone West remains consistently wide (9.7m to 26.5m) towards the western property boundary with considerable room for expansion downwards and along strike to depth (Figure 1). The Deep Zone East-Anticipada Vein geometries appear more complex, with the Deep Zone East becoming less consistent eastward while Anticipada becomes stronger in the same direction. The emerging relationships indicate that Anticipada may be the dominant site of deep mineralization towards the east (Figures 3 and 4).
In addition to the exploration drilling, underground development and associated surface and underground mining infrastructure continue to be progressed on the Juanicipio property. The ramp reached the uppermost reaches of the Valdecañas Vein in December 2016 and footwall development has commenced.
Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 35 years of relevant experience focussed on silver and gold exploration in Mexico. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent as he is Chief Exploration Officer and a shareholder of MAG and is a vendor of projects, other than Juanicipio, whereby he may receive royalties. Dr. Megaw is satisfied that the results are verified based on an inspection of the core, a review of the sampling procedures, the credentials of the professionals completing the work and the visual nature of the silver and base metal sulphides within a district where he is familiar with the style and continuity of mineralization.
Quality Assurance and Control: The samples are shipped directly in security-sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco, Mexico (Certification ISO 9001). Samples shipped also include intermittent standards and blanks. Pulp samples are subsequently shipped to ALS-Chemex Laboratories in North Vancouver, Canada for analysis. Two extra pulp samples are also prepared and are analyzed (in progress) by SGS Laboratories (Certification ISO 9001) and Inspectorate Laboratories (Certification ISO 9001) (or other recognized lab). The bulk reject is subsequently sent to CIDT (Center for Investigation and Technical Development) of Peñoles in Torreon, Mexico for metallurgical testing where a fourth assay for each sample is analyzed and a calculated head grade is received on the basis of a concentrate balance. The CIDT also does a full microscopic, XRF and XRD mineralogical analysis.
About MAG Silver Corp. (www.magsilver.com )
MAG Silver Corp. (TSX/NYSE MKT: MAG) is focused on advancing and exploring high-grade district scale silver projects located within the Fresnillo Silver Trend in Mexico. Our mission is to become one of the premier companies in the silver mining industry. Currently, we are developing the underground decline towards the high grade Valdecañas and Juanicipio silver veins in Zacatecas State, all within the joint venture between MAG Silver (44%) and Fresnillo PLC (56%). In addition, ongoing exploration continues within the Juanicipio joint venture, while the Company concurrently works on regaining surface access to our 100% owned Cinco de Mayo property in Chihuahua state.