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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Shine Minerals Corporation | TSXV:SMR | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.08 | 0.05 | 0.10 | 0 | 01:00:00 |
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Silvermex Resources Ltd. ("Silvermex") (TSX VENTURE:SMR) announces the latest
results of its surface trenching program on its optioned San Marcial Property in
southern Sinaloa, Mexico. This successful trenching program provided numerous
high grade results, 18 of the samples assayed over 300 g/t silver. Highlights
include 520.9 g/t silver across 9.70 meters and 1,770 g/t silver over 1.75
meters.
The results confirm that the high grade silver mineralization occurs over
significant widths and over the entire strike length of the structure that has
been delineated. President Michael Callahan reports; "This was a very positive
step in our 2010 program to advance the San Marcial project. These results are
very exciting as they replicate the high grades we have seen in past drilling
programs over the entire strike length of the known zone".
The spring 2010 trenching program included the following results:
---------------------------------------------------------------
Width
TRENCH # 1 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9001 1.6 398 0.17 1.11
---------------------------------------------------------------
9004 2 124 0.09 0.31
---------------------------------------------------------------
9006 0.9 219 0.38 0.58
---------------------------------------------------------------
9007 1.2 154 0.21 0.57
---------------------------------------------------------------
9008 1 232 0.13 0.32
---------------------------------------------------------------
Avg 11.95 150.8 0.13 0.44
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 2 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9009 1.75 1,770 0.32 0.66
---------------------------------------------------------------
9010 2 381 0.13 0.2
---------------------------------------------------------------
9011 1.35 175 0.1 0.13
---------------------------------------------------------------
9012 1.55 248 0.14 0.29
---------------------------------------------------------------
Avg 6.65 673.7 0.18 0.33
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 3 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9051 2 662 0.25 0.6
---------------------------------------------------------------
9052 2 239 0.36 0.57
---------------------------------------------------------------
9053 1.9 165 0.4 0.47
---------------------------------------------------------------
9054 2 851 0.3 0.36
---------------------------------------------------------------
9055 1.8 686 0.12 0.27
---------------------------------------------------------------
Avg 9.7 520.9 0.29 0.46
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 3A Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9047 1.35 436 0.56 0.56
---------------------------------------------------------------
9048 2 708 1.09 0.31
---------------------------------------------------------------
9048A 2 324 0.35 0.19
---------------------------------------------------------------
9049 1.3 607 0.15 0.27
---------------------------------------------------------------
9050 1.7 414 0.16 0.56
---------------------------------------------------------------
Avg 8.35 496.5 0.49 0.37
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 3B Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9038 1.5 203 0.23 0.63
---------------------------------------------------------------
9039 1.6 110 0.3 0.39
---------------------------------------------------------------
9040 1.7 135 0.28 0.52
---------------------------------------------------------------
9041 2 350 0.15 0.43
---------------------------------------------------------------
9042 2 588 0.05 0.52
---------------------------------------------------------------
9043 2 105 0.08 0.32
---------------------------------------------------------------
Avg 10.8 258.9 0.17 0.46
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 4 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9013 1.35 87.2 0.12 0.15
---------------------------------------------------------------
9014 2 56.5 0.06 0.1
---------------------------------------------------------------
9015 2 71.3 0.06 0.16
---------------------------------------------------------------
9016 2 38.7 0.07 0.13
---------------------------------------------------------------
9017 2 90.7 0.08 0.13
---------------------------------------------------------------
9018 2 136 0.2 0.18
---------------------------------------------------------------
9019 2 128 0.27 0.26
---------------------------------------------------------------
Avg 6 118.2 0.18 0.19
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 4B Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9020 1.5 84 0.12 0.18
---------------------------------------------------------------
9021 1.6 46.1 0.13 0.2
---------------------------------------------------------------
9022 1.75 46.1 0.16 0.27
---------------------------------------------------------------
9023 2.1 60.8 0.17 0.36
---------------------------------------------------------------
9024 2 90 0.08 0.2
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 4B Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9025 2 131 0.27 0.24
---------------------------------------------------------------
9026 1.1 132 0.22 0.25
---------------------------------------------------------------
9027 2 250 0.33 0.29
---------------------------------------------------------------
9028 1.3 272 0.3 0.23
---------------------------------------------------------------
9029 1 191 0.28 0.23
---------------------------------------------------------------
9030 1.5 187 0.34 0.29
---------------------------------------------------------------
9034 1.6 91.9 0.19 0.31
---------------------------------------------------------------
Avg 12.5 164.7 0.25 0.26
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 5 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9069 2 368 0.2 0.22
---------------------------------------------------------------
9070 2 60.1 0.16 0.27
---------------------------------------------------------------
9071 2 131 0.19 0.35
---------------------------------------------------------------
9072 2 73.7 0.18 0.33
---------------------------------------------------------------
9073 2 91.8 0.13 0.43
---------------------------------------------------------------
9074 2 84.1 0.21 0.45
---------------------------------------------------------------
9075 1.5 210 0.2 0.31
---------------------------------------------------------------
Avg 13.5 143.1 0.18 0.34
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 6 Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9076 1.7 327 0.14 0.3
---------------------------------------------------------------
9077 2 71 0.08 0.24
---------------------------------------------------------------
Avg 3.7 188.6 0.11 0.27
---------------------------------------------------------------
---------------------------------------------------------------
Width
TRENCH # 6B Sample (m) g/t Ag % Pb % Zn
---------------------------------------------------------------
9078 2 64.8 0.04 0.12
---------------------------------------------------------------
9079 1.8 25.6 0.09 0.15
---------------------------------------------------------------
9080 1.65 95.4 0.11 0.24
---------------------------------------------------------------
9081 1.55 178 0.24 0.22
---------------------------------------------------------------
Avg 3.2 135.4 0.17 0.23
---------------------------------------------------------------
A total of 7 trenches with an aggregate length of 118 meters were excavated
along 250 meters of strike of the San Marcial Structure. Trenches were oriented
normal to the trend of the structure. 77 Channel samples were cut from the
trenches using a handheld diamond saw with sample lengths varying from 0.90 to
2.20 meters in length.
The San Marcial project forms part of the Company's' newly consolidated Rosario
mining concession which totals 16,279 ha (62.85 sq. miles). The concession
includes the past producing Plomosas and San Juan mines which were operated by
Grupo Mexico until 2001.
The San Marcial Project is situated in south eastern Sinaloa State, along the
western edge of the Sierra Madre Occidental geological province. This linear
belt of volcanic rocks, approximately 1,500 km long by 250 km wide, is known to
host many important gold and silver producing mines and prospects. The province
is divided into two main Tertiary volcanic units referred to as the Upper and
Lower Volcanic groups, both of which are separated unconformably by a period of
erosion and associated with local felsic intrusive activity. The contact between
the two volcanic groups is highly prospective for precious metal mineralization,
as a majority of the other known gold and silver mines and prospects in the belt
occur close to, if not just below, the contact interval.
At San Marcial mineralization occurs along or adjacent to the contact between
the upper and lower volcanic groups in a zone of faulting and brecciation
varying from a few centimetres to over 10 meters in width over a strike length
of at least 300 meters. The structure is open to both the northwest and
southeast. The breccia is characterized by various amounts of silicification and
impregnated by minor blebs, thread, stringers and fine disseminations of pyrite,
sphalerite and galena. There is a marked increase in silicification in zones of
higher grade silver mineralization. Weak sulphide mineralization persists into
the footwall below the lower silver rich structure. Overall sulphide content is
in the order of 3-5%.
All samples were sent to ALS Chemex Laboratories sample preparation facility in
Guadalajara Mexico with final analysis done at their facilities in Vancouver,
BC. Standard, blank, and duplicate samples were inserted in every batch of 25
samples to ensure laboratory QA-QC performance. Assaying for gold and silver was
by fire assay and other elements by four acid ICP-AES.
Qualified Person
Pursuant to National Instrument 43-101 Robert Fraser, M.Sc., P.Geo.,
Vice-President Exploration of Silvermex Resources Ltd. is the Qualified Person
(QP) responsible for the disclosure in this news release. Field work has been
conducted by Silvermex Resources Ltd. employees and contractors.
On Behalf of the Board of Directors of Silvermex Resources Ltd.
Duane Nelson, CEO & Director
This News Release contains forward-looking statements. Forward looking
statements are statements which relate to future events. In some cases, you can
identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", believes", "estimates", "predicts",
"potential", or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, level of activity, performance or achievements to be materially
different from any future results, levels of activity, performance, or
achievements expressed or implied by these forward-looking-statements.
While these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggests herein. Except as required by applicable law the
Company does not intend to update any forward-looking statements to conform
these statements to actual results.
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