Guanajuato Silver drills high-grade gold at Valenciana Mines Complex, Mexico
Guanajuato Silver Company Ltd. [TSXV: GSVR; OTCQX: GSVRF] provided an update on exploration and development work at the company’s wholly owned Valenciana mines complex (VMC) located in Guanajuato, Mexico.
Highlights: High-grade veins and associated breccias have been intercepted at the Santa Margarita zone including 0.98 metre true width grading 16.7 g/t gold and 12 g/t silver for 1,432 g/t AgEq (silver equivalent); 0.26 metre true width grading 45.3 g/t gold and 38 g/t silver for 3,886 g/t AgEq.
Drilling at Santa Margarita has demonstrated comparatively higher gold values than the historical average seen at the Valenciana mines complex. These highly encouraging results will form the basis for a new mining block that will be prepared for development in 2025.
James Anderson, chairman and CEO, said, “Valenciana’s 500-year mining history shows no sign of slowing down; the latest drill program has generated solid results that positions the Santa Margarita area as a near-term source of production grade material.”
During the first quarter of 2025, a total of approximately 475 metres of diamond drilling was completed in the Santa Margarita and Maravillas areas at the Valenciana mines complex.
A drilling program was completed at the Maravillas zone which tested for new vein shoots; this area of VMC has historically seen very limited exploration. UGM25-001, which targeted the Veta Madre, intersected a wide vein intercept with a true width of 7.06 metres.
Results for UGM25-001 showed a zone of moderately mineralized material; additional drilling in this area will look to expand the known vein footprint and seek to determine if other high-grade mineralized shoots are located within this portion of the vein system.
GSilver is a precious metals producer engaged in reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo mine, Valenciana mines complex and the San Ignacio mine. All three mines are located within the state of Guanajuato. Additionally, the company produces silver, gold, lead and zinc concentrates from the Topia mine in northwestern Durango.