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| | March 16, 2007
NI 43-101 Technical Report & Resource Estimate The Penasco Quemado Property, Sonora, Mexico
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| | Silvermex Resources Ltd. has filed an independent Technical Report to support the Mineral Resource estimate disclosed by the Company on January 30, 2007. The Report was prepared by William J. Lewis, B.Sc., P.Geo. of Micon International Limited of Toronto, and James A. McCrea, B.Sc., P.Geo., of Vancouver, B.C., both independent Qualified Persons.
As reported in the January 30, 2007 release the estimate was prepared using current CIM definitions for mineral resources as required by National Instrument 43-101. The mineral resource was prepared using a cut-off grade of 30 g/t silver with high grade samples capped at 700 g/t silver.
Resource Classification |
Ore
(million tonnes) |
Grade
(g/t Ag) |
Silver (Million troy oz) |
Measured Mineral Resource |
0.123 |
151.9 |
0.599 |
Indicated Mineral Resource |
2.442 |
115.0 |
9.032 |
Total Measured + Indicated |
2.565 |
116.8 |
9.631 |
Inferred Mineral Resource |
0.001 |
41.4 |
0.001 |
The mineral resource estimate is based on a total of 3,442 meters of core, rotary and reverse circulation drilling from 45 holes completed by both Silvermex and previous operators.
In addition to making several recommendations for moving the project forwards to pre-feasibility the Report concludes that Penasco Quemado should be regarded as a mid-stage exploration project which may have a significant economic potential, should the mineralization prove to be more extensive than is presently indicated.
The Report is available on SEDAR and at www.silvermexresources.com. Copies of the Report are also available from the Company's offices in Vancouver, B.C. and Hermosillo, Mexico.
Qualified Person
Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Senior Vice-President and CFO of Silvermex Resources Ltd. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Silvermex Resources Ltd. employees and contractors.
For Further information, contact:
Bruce Bragagnolo, LLB.
Director
Vancouver, BC, Canada
Tel: 604-682-4004
bruce@silvermexresources.com
Darcy Krohman, P.Geo., C.A.
Senior Vice-President & CFO
Vancouver, BC, Canada
Tel: 604-682-4004
darcy@silvermexresources.com
For Investor Relations, contact:
Jason Leikam
Investor Relations
Vancouver, B.C., Canada
Tel: 604-682-4004
jason@silvermexresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results. |
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