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The Penasco Quemado project totals 20,000 hectares located in north-central Sonora, Mexico. Three areas of focus contain disseminated silver mineralization, most importantly mineralized breccia zones which make up priority targets. Silvermex completed a phase one drill program in 2006 which resulted in NI 43-101 compliant mineral resource totaling 9.63 million ounces on the Penasco Quemado area (PQ zone). Follow up geophysical work completed during the summer of 2007 identified additional targets along strike and within close proximity to the resource area. These targets will be tested as part of a drill program scheduled for early 2008. A complete review of the project is contained in the Penasco Quemado NI 43-101 Technical Report.
Resource Classification |
Tonnage
(Million tonnes) |
Grade
(g/t silver) |
Silver
(million ounces) |
Measured resource |
0.123 |
151.9 |
0.599 |
Indicated resource |
2.442 |
115.0 |
9.032 |
Total |
2.565 |
116.8 |
9.631 |
Inferred resource |
0.001 |
41.4 |
0.001 |
Technical Report
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