Guanajuato Silver (TSXV: GSVR) this morning published a revised resource estimate for its San Ignacio mine, found in Guanajuato, Mexico. Among the highlights is a 130% increase in the measured and indicated category.
The mineral resource estimate was produced as part of an effort by the company to update current estimates for all of its currently producing mines in Mexico. In the case of the San Ignacio mine, the latest estimate supersedes a historical mineral resource estimate published by the company in April 2022.
The new estimate consists of 3.1 million ounces of contained silver and 53,000 ounces of contained gold within the measured and indicated category. A further 8.9 million ounces of contained silver and 158,000 ounces of contained gold are said to be in the inferred category. The figures represent an increase of 130% within the M&I category, and a further 283% increase in the inferred category.
The revised estimate is based on four mineralized domains that are characterized by four primary veins. The estimate also contains an additional 5,350 drillhole samples and 9,784 underground channel samples collected since the last estimate.
“The significant increase in the San Ignacio mineral resource across all categories can be attributed to the exceptional work on the part of our Mexican exploration teams; their efforts over the past year have expanded our understanding of the mineralized systems in place at San Ignacio while returning consistently high-grade results,” commented CEO James Anderson.
Guanajuato Silver last traded at $0.26 on the TSX Venture.
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