Guanajuato Silver Company Ltd. has announced significant progress in the development of the high-grade Santo Nino vein at its San Ignacio mine in Guanajuato, Mexico. This development marks a pivotal moment for the company as it aims to enhance its production capabilities and explore further potential in the region.
Guanajuato Silver's Chairman and CEO, James Anderson, highlighted the discovery of a mining block greater than two meters wide at the Santo Nino vein, which consists of significant tonnage and grade. The company has been working on the 430 Ramp, which has now reached the Purisima vein, where mining activities have commenced. Following this, the ramp was extended approximately 10 meters to the west, leading to the contact with the Santo Nino vein.
This new vein provides access to a previously unexplored mining area characterized by comparatively higher gold content, which is expected to boost the company's production metrics significantly.
Looking ahead, Guanajuato Silver has outlined its exploration strategy for 2025, which includes:
In September 2023, Guanajuato Silver released a mineral resource estimate (MRE) for the San Ignacio mine, which revealed impressive figures:
| Resource Category | Tonnes (M) | Silver Equivalent (oz) | Grade (g/t) |
|---|---|---|---|
| Measured & Indicated | 0.79 | 7.621 million | 300 |
| Inferred | 2.166 | 22.167 million | 318 |
These estimates represent a significant increase in contained metals, with a 130% rise in the Measured and Indicated category and a staggering 283% increase in the Inferred category compared to previous estimates.
The mineralization at San Ignacio is associated with the La Luz structure, which has a known strike length of over 8 kilometers and includes 18 identified veins, including the Santo Nino. This area has a rich mining history dating back to the 1540s when the Spanish first identified silver and gold mineralization in Guanajuato.
Guanajuato Silver's advancements at the San Ignacio mine, particularly with the Santo Nino vein, position the company for a promising future in silver and gold production. With ongoing exploration and development efforts, the company aims to solidify its status as a leading precious metals producer in Mexico.
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