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The 2,830 hectare Lobos project is located along the Sea of Cortez, approximately 90 km from Puerto Penasco in northwestern Sonora, Mexico. Silvermex holds 100% interest in the property. On November 8, 2007, the company announced results of a sampling program that returned high grade silver and zinc results over appreciable widths, along with economic grades of copper and lead. Results of 327 channel samples taken along 350 m of strike identified a 200 m long, 42 m wide (average) mineralized zone averaging 184.6 g/t Ag, 0.53% Zn, 0.29% Pb and 0.026% Cu. The highest values returned 2743 g/t Ag across 3.0 m. The mineralized zone appears to be open in both directions along strike.
Management is very encouraged with the preliminary results and is confident a mineral resource will be delineated on the property. In addition, Company geologists believe the mineralized breccias zone extends below the volcanic cover, further enhancing t he economic potential of the property. This theory will be tested by a first phase drill program proposed for the second quarter of 2008.
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