Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 29, 2011) – GREAT PANTHER SILVER LIMITED (TSX:GPR)(NYSE Amex:GPL) (the “Company”) is pleased to provide an update on the diamond drilling program at the Company’s wholly-owned San Ignacio Mine property in Guanajuato, Mexico. Since identifying a high degree of grade variability in the first nine holes (Company news release dated May 24, 2011), Quality Assurance (“QA”) procedures were significantly improved and holes ESI10-001 to ESI11-009 have been re-logged, and mineralized zones re-assayed using quarter core sampling. Three of these earlier holes have been twinned and a comparison of half and quartered cores from holes ESI11-010 to 014 has been completed in a study to gauge the reliability of quarter core sampling. Furthermore, holes ESI11-010 to 024 have been completed using the more stringent QA protocols. While it is clear from the additional holes drilled that there is indeed a high degree of grade variability on the San Ignacio Mine project, the QA exercise and extra drilling have provided sufficient confidence in the data for the Company to re-initiate the NI 43-101 compliant mineral resource estimate for the property, to be completed in the fourth quarter 2011.
