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On October 9, 2007 Silvermex entered into an option agreement with Silver Standard Resources to purchase 100% interest in the 1,250 ha San Marcial property. San Marcial is located 90 kilometres east of Mazatlan in Sinaloa, Mexico.
On December 21, 2007 Silvermex announced an updated technical report. Based on work to date, a number of silver targets that may be amenable to bulk mining techniques have been identified. The most advanced of these targets is the San Marcial SE and NW zone which extends for 450 metres along strike and is open in both directions and at depth. Pursuant to current CIM definitions for Mineral Resources the optioned property hosts an Inferred Mineral Resource of 14.26 million ounces of silver, 33 million lbs of zinc and 16 million lbs of lead (2.31 million tonnes grading 191.79 g/t silver, 0.66% zinc and 0.32% lead).
Silvermex's objective in acquiring the San Marcial property is to define an inferred silver resource in excess of 50 million ounces. An exploration program is planned for spring 2008.
Technical Report
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