GREAT PANTHER RESOURCES LIMITED (TSX: GPR) (the "Company") is
pleased to announce results of a successful surface core drilling
program in six areas at the Topia Mine, including the Recompensa,
San Gregorio, El Rosario, Cantarranas, San Miguel, and El 80 veins.
The first-ever drilling at the gold-rich Recompensa vein has
demonstrated excellent continuity of the mineralization both along
strike and to depth, while drilling on the silver-rich, San
Gregorio and El Rosario veins intersected exceptional silver values
between 30 and 50 meters below current mining levels.
At the Recompensa vein, four holes were completed along
approximately 300 metres of strike length and 50 metres below the
existing mine workings. The two easternmost holes are particularly
notable, with results as follows:
- ST09-094 intersected 94g/t silver, 12.5g/t gold, 3.86% lead, and 1.36%
zinc over 0.30 metres (0.23 metres True Width ("TW")),
- ST09-095 intersected 76g/t silver, 20.9g/t gold, 1.38% lead, and 9.79%
zinc over 0.35 metres (0.27 metres TW).
The westernmost hole, ST09-092 intersected 0.50 metres (0.2
metres TW) @ 67g/t silver, 7.6g/t gold, 0.17% lead, and 1.04%
zinc.
A total of 2,649 metres in 21 NQ size core holes was drilled
over the six areas. All significant intersections, plan maps and
longitudinal sections are on the Company website at
http://www.greatpanther.com/s/TopiaMine.asp.
Other highlights include:
- ST09-088 at the San Gregorio vein: 0.32 metres (0.18 metres TW) @
4,340g/t silver, 0.46g/t gold, 7.0% lead, and 9.6% zinc.
- ST09-091 at the El Rosario vein: 2.7 metres (1.73 metres TW) @ 1,051g/t
silver, 0.22g/t gold, 2.01% lead, and 7.83% zinc.
At the San Gregorio vein, drilling was focused 30 to 50 metres
below the present development along approximately 250 metres of
strike length. Of the four holes drilled here, all intersected the
vein, with two having exceptional results. ST09-088 intersected
0.52 metres (0.30 metres TW) @ 1,503g/t silver, 0.2g/t gold, 4.5%
lead, and 6.26% zinc, including 0.32 metres (0.18 metres TW) @
4,340g/t silver, 0.46g/t gold, 7.0% lead, and 9.6% zinc. ST09-089
intersected 1.05 metres (0.52 metres TW) @ 498g/t silver, 0.37g/t
gold, 0.41% lead, and 11.64% zinc.
At the El Rosario vein, drilling was focused 30 to 50 metres
below the west end of the present development. Both holes had
exceptional results with ST09-090 intersecting 0.45 metres (0.22
metres TW) @ 1,740g/t silver, 0.05g/t gold, 5.45% lead, and 8.37%
zinc. ST09-091 intersected 2.7 metres (1.73 metres TW) @ 1,051g/t
silver, 0.22g/t gold, 2.01% lead, and 7.83% zinc, along with a
footwall zone of 1.0 metre (0.64 metres TW) @ 686g/t silver,
0.10g/t gold, 1.72% lead, and 11.14% zinc.
The area between the current workings of the Hormiguera Mine and
the San Miguel Mine, Level A, 110 metres vertically apart, was
explored with six drill holes. The Cantarranas and San Miguel veins
were intersected, along with the newly discovered San Jorge vein,
demonstrating good continuity of these narrow veins with highly
variable grades. Further follow-up drilling will be done in 2010 to
justify the expansion of mining in this highly prospective
area.
The El 80 Mine is currently exploiting two silver-rich parallel
veins in the hanging wall of the Madre vein. Two holes were drilled
below present workings to test the depth potential. Both holes
intersected the veins but with low values. Further exploration in
2010 will focus on the lateral and shallower extensions of these
veins.
As part of the mine expansion plans (news release Sept 16,
2009), the focus of the surface drill program was to work closely
with the mine engineers in drilling areas that were being
considered for future development, in order to prioritize areas and
to increase the mineral resource. Based on the results of the 2009
drilling program, a more aggressive surface drill program is being
planned to expand the mineral resource on veins presently being
exploited and to explore a number of highly prospective veins and
vein segments elsewhere on the Company's extensive land package.
Resources have yet to be evaluated for the above six veins (GPR
News Release, July 21, 2009) and a new update, including these
drill results plus those from the newly planned drill program, is
expected later in 2010.
All Topia Mine drill core samples are assayed by SGS at the
Company's Guanajuato Mine site laboratory. Robert F. Brown, P. Eng
and Vice President of Exploration for the Company, is the Qualified
Person for the Topia Mine Project, under the meaning of NI43-101,
and has reviewed these results. The Company's QA/QC program
includes the regular insertion of blanks and standards into the
sample shipments.
ON BEHALF OF THE BOARD
Robert A. Archer, President & CEO
This news release contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information within the meaning of
the Securities Act (Ontario) (together, "forward-looking
statements"). Such forward-looking statements may include but are
not limited to the Company's plans for production at its Guanajuato
and Topia Mines in Mexico, exploring its other properties in
Mexico, the overall economic potential of its properties, the
availability of adequate financing and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements expressed or implied by such
forward-looking statements to be materially different. Such factors
include, among others, risks and uncertainties relating to
potential political risks involving the Company's operations in a
foreign jurisdiction, uncertainty of production and cost estimates
and the potential for unexpected costs and expenses, physical risks
inherent in mining operations, currency fluctuations, fluctuations
in the price of silver, gold and base metals, completion of
economic evaluations, changes in project parameters as plans
continue to be refined, the inability or failure to obtain adequate
financing on a timely basis, and other risks and uncertainties,
including those described in the Company's Annual Report on Form
20-F for the year ended December 31, 2008 and reports on Form 6-K
filed with the Securities and Exchange Commission and available at
www.sec.gov and Material Change Reports filed with the Canadian
Securities Administrators and available at www.sedar.com.
SEC 20-F Statement Filed; Standard & Poor's Listed
Contacts: B&D Capital 604 685 6465 604 899 4303
info@greatpanther.com www.greatpanther.com
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