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Posts Tagged ‘Robert A. Archer’

We bought Great Panther in September 2009 @ CA$0.84 using today’s close of CA$1.95 this means a 132% gain. Recently we sold 50% of our shares @ CA$2.75 (a 227% gain) because of our unique strategy. We still think Great Panther has a lot of upward potential, and with more development en exploration on the way, this company is a real pearl!  We keep Great Panther at a BUY advise.

Great Panther News Release:

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce the discovery of deeper mineralized silver-gold zones at the Guanajuatito Mine at the northwest end of the Guanajuato Mine Complex. The deep drilling program is being conducted at 25-50 metre intervals from several drill stations on the Guanajuatito Mine cross-cut, located on the 100 metre level. The drilling program has been successful in extending silver-gold mineralization below the current level of mining on the 80 metre level, down to the 245 metre level. The new mineralization has been defined over a strike length of approximately 100 metres and for an additional 150 metres vertically. Highlights from 21 drill holes completed in 2010 plus several earlier drill holes in the deeper (below the 80 metre level) portions of Guanajuatito are listed below. A more complete listing of results and a longitudinal section showing the drill holes have been added to the Company website.

Using information from mining the upper levels and the new drilling, two mineralized zones are interpreted from the data – the Veta Madre zone, and a slightly deeper Footwall zone. Typically, the mineralized portion of the zones pinches and swells with true widths varying from less than one metre to 4.6 metres. Typifying the above observations are Veta Madre intersections for UGG10-008 that intersected 8.52g/t gold and 1,300g/t silver over a true width of 0.61 metres, and UGG10-009 that intersected 0.87g/t gold and 241g/t silver over a true width of 3.59 metres. The best and deepest (245 level) Footwall zone intersection returned 2.77g/t gold and 839g/t silver over a true width of 1.72 metres in UGG10-021.

Drilling is being conducted from drill stations in a hanging wall cross-cut on the 100 metre level. Modeling of the structures is presently being completed and ramp access has intersected the Veta Madre on the 120 metre level. Future plans call for a hanging wall exploration drive sublevel to be driven both northwest and southeast to accommodate additional drill stations at 50 metre intervals to test the mineralized zones in the Guanajuatito Mine area from the 100 metre level down to the 390 metre level (approximately 400 metres down dip), and along 500 metres of strike.

Andrew Sharp, Guanajuato Mine Manager stated, “Ore development on the 120 level is underway and the provision of ventilation for the first ore level is a priority. Once this commences, ramp development to subsequent stope levels for future production will re-commence. Given the good exploration results to date, further exploration potential along strike and the advancing ramp depth, additional capital has been committed in the form of a deeper electrical distribution network.”

The Guanajuatito Mine was the first area at Guanajuato to be drilled by Great Panther in 2005 and one of the first to commence mining. While the upper levels (from the +20 metre level down to the 80 metre level) were drilled from surface, and subsequently mined out (76,668 tonnes at 254g/t Ag and 1.69g/t Au, for 876,000 Ag eq oz using a 60:1 silver:gold ratio), this zone was never included in any NI 43-101 compliant resource. The new drilling on the deeper levels will, however, be brought into the Company’s next resource update later this year.

Highlights of Deep Guanajuatito Drill Holes

VM: Veta Madre zone; FW: Footwall zone.

Robert F. Brown, P. Eng. and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine, under the meaning of NI 43-101. A full QA/QC program is being followed including the regular insertion of splits, blanks, and standards into the core sampling sequence. Analysis of the drill core samples will be conducted at the Guanajuato Mine on-site laboratory, independently operated by SGS.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

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, 2009 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.

Source: Company website

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce that the second section of diamond drill holes at the San Ignacio Mine Property, Guanajuato has intersected numerous zones of silver-gold mineralization, some of which appear to correlate well with the first two holes and others that appear to be new zones. Two holes, ESI10-03 and 04, were drilled easterly at angles of -40° and -60° from a drill setup approximately 45 metres north of holes ESI10-01 and 02 (see news releases dated October 28th & November 15th 2010).

Hole ESI10-03 intersected 15 silver-gold mineralized zones, including the Melladito zone, which returned 212g/t silver and 1.99g/t gold over 4.3 metres, the Nombre de Dios zone with 850g/t silver and 3.75g/t gold over 3.1 metres, and a footwall stockwork zone with 680g/t silver and 1.94g/t gold over 3.85 metres. The fourth hole, ESI10-04, was drilled under ESI10-03 and intersected five silver-gold mineralized zones, including the Melladito zone with 240g/t silver and 0.8g/t gold over 5.8 metres, the Nombre de Dios zone with 2,020g/t silver and 7.80g/t gold over 0.9 metres, and a footwall stockwork zone with 660g/t silver and 1.73g/t gold over 3.25 metres, including 0.80 metres assaying 2,380g/t silver and 6.57g/t gold.

Both ESI10-03 and 04 were longer holes, and as such drilled deeper and further east, than ESI10-01 and 02. New and more easterly footwall stockwork zones were intersected in ESI10-03 and 04, the interpretation of which is still tentative, but the Company is pleased that previously unknown silver-gold mineralized zones are being intersected as the drilling is extended eastward. Highlights of holes ESI10-03 and 04 are presented in the tables below, while a plan map showing the location of Great Panther’s San Ignacio drill-holes, and an interpretative cross section, are posted on the Company web-site under the Guanajuato Mine Complex section.

The deepest stockwork intersection in ESI10-04 (3.25 metres of 660g/t silver and 1.73g/t gold) is at a vertical depth below surface of approximately 420 metres. This may correlate with the zone of similar grades and width at the bottom of hole ESI10-03 (3.85 metres of 680g/t silver and 1.94g/t gold) and represents a significant vertical interval of high grade silver-gold mineralization, down to 1,980 metres above sea level (“masl”). Typically in the La Luz vein camp, the bottoms of the mineralized zones are at 2,100 — 2,150 masl. Interpretation of the various structures is ongoing and as down-dip infill drilling commences a better understanding will emerge.

In light of the success of the 2010 drilling at San Ignacio, Great Panther’s Board of Directors has approved a new 2011 budget of $2.8 million for the exploration and development of the San Ignacio property. As soon as the appropriate permits are in place, an expanded drilling program will commence. Potential sites to establish a portal for an underground ramp are also being evaluated. Due to the proximity of the San Ignacio Property to the Company’s main Guanajuato operation, any mineralization intersected in the course of underground exploration and development can be trucked to the plant for processing. In this way, cash flow provided by the additional tonnage can be used to offset the cost of the exploration and development program.

The San Ignacio Mine property covers approximately 4 kilometres of strike length on the La Luz vein system, which is parallel to, and 5 kilometres west of, the principal Veta Madre structure that hosts the main Guanajuato mines (see map on website at http://www.greatpanther.com/i/pdf/GTO-SanIgnacio-LocationMap.pdf). The La Luz district marks the site of the first discovery of silver in the area, in the year 1548, which led to the discovery of the Veta Madre silver-gold deposits in 1550. It comprises a swarm of generally north-northwest striking, vertical to west dipping quartz veins and breccias with associated low sulphidation silver-gold mineralization, along an approximate 8 kilometre long trend.

Highlights of Drill Hole ESI10-03:

Highlights of Drill Hole ESI10-04:

Robert F. Brown, P. Eng. and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine, under the meaning of NI 43-101. A full QA/QC program is being followed including the regular insertion of splits, blanks, and standards into the core sampling sequence. Analysis of the drill core samples is being conducted at the Guanajuato Mine on-site laboratory, independently operated by SGS.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

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, 2009 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.

Source: Company website

After the closing bell Wednesday Great Panther announced great news, again! We bought shares of Great Panther in September 2009 @ CA$0.84 using today’s close of CA$2.45 this means a 191.6% gain! Watch this stock on Thursday!

Great Panther News Release

GREAT PANTHER SILVER LIMITED (TSX: GPR) is pleased to report that Scott Wilson Roscoe Postle Associates (“Scott Wilson RPA”), of Vancouver, B.C., has completed a NI 43-101 compliant mineral resource/reserve estimate on the Cata Clavo, Los Pozos, and Santa Margarita zones at the Company’s wholly-owned Guanajuato Mine in Guanajuato, Mexico. The new Measured and Indicated mineral resource contains 5,450,000 ounces silver equivalent. Inferred mineral resources are estimated at 2,678,000 ounces silver equivalent (“Ag eq oz”). The Measured and Indicated mineral resources include 4,372,000 Ag eq oz categorized as Proven and Probable mineral reserves, using a cut-off grade of 185 g/t silver equivalent. This is the first time that NI 43-101 compliant reserves have been estimated for the Guanajuato Mine and is a positive step in confirming the long-term viability of this historic operation.

The new resource base represents a 53% increase over the previous resource estimate (for just the Cata Clavo; see news release June 30, 2009), even after deducting the production from that zone over the last year and a half. This demonstrates the Company’s ability to not only replace what is being mined, but to increase the resource base and extend the mine life with additional drilling. There were no compliant resources at Guanajuato when Great Panther purchased the property in 2005 and most of the more than 4,500,000 Ag eq oz that the Company has mined from Guanajuato since 2006 has come from non-compliant resources.

Mining of the three zones, Cata, Los Pozos, and Santa Margarita currently accounts for most of the Guanajuato metal production. Resource drilling is ongoing to delineate new resources and reserves on the upper and depth extensions of Los Pozos and the southeast strike extension of Santa Margarita but also includes Guanajuatito, Valenciana, San Telesforo, and the depth extensions of the Rayas Clavo, none of which are included in this resource estimation but which will be included in the 2011 update. In addition, drilling of the very promising San Ignacio project will continue through 2011 and will make a significant contribution to future resources for the Guanajuato Mine. As such, the resource base will continue to build at Guanajuato and it is the Company’s stated objective to delineate approximately 25-30 million Ag eq oz here by 2012.

For the year 2010, production from Guanajuato is estimated to be 1.02 million Ag oz and 6,720 Au oz (1.44 million Ag eq oz). The resource and reserve estimates, together with the significant potential of the ongoing drilling programs, positively support the achievement of the growth strategy objectives for Guanajuato.

Silver equivalent values were applied to computer generated block models in order to define the mineral resource. The mineral reserve cut-off value of 185g/t (6.0 oz/t) silver equivalent is the metal content contained in one tonne of ore for which the net revenue (net of smelter and refining costs) is equal to the average full operating costs to mine and process one tonne of ore. Scott Wilson RPA used medium term projected metal prices of US$17.67/oz Ag and US$1150/oz Au (relative price ratio of 65 gold to 1 silver), 2010 concentrate sales contract terms, and typical plant performance metal recoveries and concentrate grades to calculate the net value. Total operating costs at Guanajuato, including mining, milling, and general and administration costs, are currently US$85/tonne. Experience gained from mining the veins by the cut-and-fill mining method and the upward trend in metal prices, determined that the appropriate cut-off value for defining mineral resources at Guanajuato be set at 136g/t (4.3oz/t) silver equivalent. The use of a lower cut-off for resources reflects the less stringent guidelines for resources versus reserves.

Based upon these parameters, the Measured and Indicated mineral resource contains 5,450,000 Ag eq oz including 2,495,000 Ag eq oz in the Measured category and 2,956,000 Ag eq oz in the Indicated category. Inferred resources are estimated at 2,678,000 Ag eq oz. Of the Measured and Indicated mineral resource, 4,372,000 Ag eq oz is classified as Proven and Probable mineral reserve, using a cut-off of 185g/t silver equivalent. The Proven mineral reserve is estimated at 1,935,000 Ag eq oz, while the Probable mineral reserve is estimated at 2,438,000 Ag eq oz. Breakdowns for silver and gold can be found in the tables below.

The mineral resource estimate for Guanajuato was prepared using block models constrained by 3D wireframes of the principal mineralized zones. Separate block models, comprising arrays of 2.5 by 2.5 by 2.5 meter blocks, were constructed for each of the Cata, Los Pozos, and Santa Margarita zones. Grades for gold and silver were interpolated into the blocks using Inverse Distance Cubed (ID3) weighting. Block model graphics, maps, sections and previous news releases can be viewed on the Company’s website at www.greatpanther.com. The samples consisted of diamond drill and production chip samples. Scott Wilson RPA capped high gold and silver grades at a range of levels depending on the zone and the type of sample (drill hole or chip). The estimates were classified according to the CIM Definition Standards on Mineral Resources and Mineral Reserves, and as such, are consistent with the requirements of NI 43-101. The estimate was prepared using GEMS software (Gemcom), which is a commercially available package, commonly used in the industry.

The Cata Clavo is separated into four zones, namely, the Veta Madre, Alto 1, Alto 1a and Alto 2. The upper limit of the main Veta Madre zone is set at the floor of the 460 metre level as it has been extensively mined out above this level. Mining of the three higher grade Alto zones is underway using a modified mining plan. The mineralized zones used in the resource represent an approximate 100 metre vertical height and a strike length of approximately 150 metres. The Los Pozos zone is a downward tapering zone of 30-90 metres strike length and widths to 12 metres. The mineral resource estimate is from the 390 level up to the bottom of the 270 level sill pillar. The Santa Margarita is separated into four zones, namely the HW stockwork, Breccia, FW A, and FW B. The mineral resource estimate was calculated from below the floor of the 390 level to the 600 level along a strike length of more than 200 metres.

The Veta Madre (at Cata and Los Pozos areas) and the Cata Alto 1 zone are complex quartz dominated stockwork and breccia zones of pyrite and argentite mineralization with argillic and propylitic alteration in the footwall shale. Footwall to the Veta Madre is a barren silica breccia with large angular shale fragments. The Alto 1a, and Alto 2 zones are silica rich brecciated zones within a hanging-wall diorite dyke. The Santa Margarita zones in the Rayas area are silica rich brecciated hanging wall conglomerates, andesite and La Sirena quartz porphyry intrusive. All zones strike generally NW-SE and dip 45 degrees southwest.

Measured, Indicated and Inferred mineral resources in the three areas were estimated by Dave Rennie, P.Eng, a Principal Geologist for Scott Wilson RPA, and the Proven and Probable mineral reserves were estimated by R. Dennis Bergen, P. Eng, Associate Principal Mining Engineer for Scott Wilson RPA. Both are independent of Great Panther as per the criteria set out in NI43-101. The Mineral Reserves and Mineral Resources estimates are tabulated below:

Notes

1. CIM definitions were followed for Mineral Reserves.
2. Mineral Reserves are estimated at a cut-off grade of 185 g/t AgEQ.
3. Mineral Reserves are estimated using an average gold price of US$1150 per ounce and an average silver price of US$17.67 per ounce.
4. The minimum mining width is 1.5 metres.
5. Bulk density is 2.65 t/m3.
6. Numbers may not add due to rounding.

Both drill core and underground chip samples were assayed independently by SGS at the Company’s Guanajuato Mine site laboratory. Aspects relating to mining and metallurgy are overseen by Charles Brown, Chief Operating Officer for Great Panther and its Mexican subsidiary, Minera Mexicana El Rosario, S.A. de C.V. Robert F. Brown, P. Eng and Vice President of Exploration for the Company, is the Qualified Person for the Guanajuato 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, duplicates, and standards into the sample shipments.

Great Panther owns a 100% interest in the Guanajuato Mine Complex. Historically, the Guanajuato Mine was one of the largest silver producers in Mexico and encompasses the core of the Guanajuato District, which has produced 1.2 billion ounces of silver and 4.5 million ounces gold.

For further information please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

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, 2009 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.

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce the appointment of Mr. Erick Bertsch to the position of Vice President, Corporate Development. Erick brings more than 16 years experience in the mining industry to Great Panther, beginning his mining career in the field in 1994 before transitioning to investor relations in 2003 with several companies in the Hunter-Dickinson Group. More recently, he has held corporate development positions with Minco Gold and Geodex Minerals. While with Minco, he gained insight into, and contacts within, the silver industry (through Minco’s 40% ownership of Minco Silver), which will be valuable in his current role of expanding Great Panther’s market presence and corporate growth.

As part of Great Panther’s continuing emphasis on improving shareholder relations and increasing market exposure, the Company has updated its website to a new, fresher look with greater functionality and depth of information. The site contains a new section on Corporate Social Responsibility (CSR) in keeping with the Company’s commitment to environmental sustainability and community relations. The new site can be accessed through the same address, at www.greatpanther.com.

The Company also announces that it has granted a total of 240,000 stock options to Mr. Bertsch and other new employees, under its stock option plan. The options are exercisable at a price of $1.15 and expire five years from the date of grant.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, President & CEO

Source: Company website