Great Panther Silver (GPR.TO, NYSEMKT:GPL) has calculated an internal maiden resource estimate at its El Horcon project in Mexico. According to the company, the 214,000 tonnes of ore at El Horcon contain approximately 450,000 ounces of silver, 21,000 ounces of gold and 11 million pounds of lead. Please keep in mind this is an unofficial internal estimate and is not an NI43-compliant resource estimate. The internal estimate was based on 24 holes which drilled 2,400 meters, testing a strike length of approximately 650 meters.
The El Horcon property is located approximately 80 kilometers from its Guanajuato operations, and the ore will very likely be treated there. Great Panther estimates recovery rates of 92% for the gold and 80% for the silver, but further metallurgical test work is obviously required.
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Disclosure: The author holds no position in Great Panther Silver. Please see our disclaimer for current positions.
