Great Panther drills high-grade gold at Tucano gold mine, Brazil

Great Panther Mining Tucano Mine

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Great Panther Mining Ltd. [GPR-TSX; GPL– NYSE American] announced initial drill results from the 2020 drill program at its 100%-owned Tucano gold mine in Brazil.

These results are part of an ongoing 55,000 metre, $6.6 million resource definition drill program focused on both near-mine and regional targets. To date, 12,000 metres of drilling have been completed, including 6,000 metres of near-mine diamond and reverse circulation drilling at the Tapereba (TAP) AB1 and AB3 open pits. The ongoing drilling is being conducted with three rigs and results will be incorporated into an updated Resource and Reserve statement due for release in fourth quarter of 2020. Drilling rates are expected to advance as Tucano enters the dry season in July.

Highlights of the near-mine drill program include intervals of 29.4 metres grading 15.99 g/t gold in hole DD018 and 16.7 metres grading 10.96 g/t gold in hole DD009. Other holes also returned encouraging assays. A full table of all significant intercepts drilled to date can be found on the company’s website at www.greatpanther.com/operations/operations-overview/.

Great Panther President and CEO Rob Henderson commented: “The 2020 exploration program at Tucano is a top priority. The focus to date has been on converting inferred resources to measured and indicated and we are encouraged by the number of significant zones that have exceeded expectations either in grade, width, or both. We are working to capitalize on Tucano’s significant exploration potential, both in the existing pits and on regional targets in this largely unexplored area.”

Tapereba represents two-thirds of the 7-km Tucano mine trend, with TAP AB1 and AB3 located toward the southern end. They are the largest and deepest pits on the trend, containing an average resource grade of 2.33 g/t gold.

Great Panther appointed Nick Winer as Vice President Exploration. Winer has extensive international experience in both major and junior mining companies, largely focused on Latin America where he has been involved in the discovery of world-class gold and base metal deposits. He was involved with the initial resource/reserve definition program at Tucano from 1996 to 2000, initially as Exploration Manager for BHP Minerals and later as Exploration Manager for AngloGold Ashanti.

Great Panther owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, four exploration projects, and an advanced development project.


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