Pantera Silver Corp.’s [PNTR-TSXV] diamond core drilling has started at its Nuevo Taxco silver project located in the Pregones mining district of Guerrero State, Mexico. Pantera Silver acquired the project from Impact Silver Corp. [IPT-TSX] under an option agreement.
The Nuevo Taxco silver project is approximately 40 km northwest of the municipality of Taxco, historically known as the “silver capital of the world.”
The first phase of this maiden exploration drill program will be for up to 2,000 metres. Drilling will follow up on geological work completed by Impact Silver on the Nuevo Taxco silver project in 2013 which identified and sampled 21 high-grade silver veins. Drilling will be completed in stages of approximately 500 to 600 metres per stage with each stage being assayed and analyzed before commencing the next stage of drilling. Drill holes will be from approximately 50 to 150 metres in depth.
Commenting on the start of drilling, Pantera’s CEO, Jay Roberge, stated: “We are very pleased to commence drilling and to apply modern geological science to the rich history of this very prospective target area. Our staged approach to drilling has been proven effective by other programs in the region and is the preferred strategy for advancing the project. We are grateful to be given the opportunity to work in this historical district of Mexico, and for the strong support and assistance of the local communities.”
Twenty-one high-grade veins mapped and sampled within an approximately 135-hectare area of the property. All have substantial width and mapped lengths run from 150 to 800 metres and remain open along strike and depth. Over 395 samples taken to date have returned assays ranging from 100 g/t to over 1,000 g/t silver, including three samples (1,430, 1,230 and 1,100 g/t), 119 grading over 100 g/t silver including 18 samples between 500 to 900 g/t silver and 92 between 100 to 499 g/t silver.
Permitted maiden drill program is focused on priority targets within the area historically prepared for drilling by Impact (approximately 135-hectare area). The entire approximately 1,100-hectare property is considered substantively unexplored offering additional upside exploration potential.