MAG Silver (TSX: T.MAG, Stock Forum) Wednesday reported the completion of the first independent mineral resource estimate for the Bridge Zone/Jose Manto on its 100% owned Cinco de Mayo Property in Mexico, this according to a company news release.
The Inferred mineral resource is estimated to be 12.45 million tonnes at 132 grams per tonne (g/t) silver, 0.24 g/t gold, 2.86% lead, and 6.47% zinc (9.33% lead plus zinc). An economic cut-off grade set at a net smelter return of US$100 per tonne was applied as the base case for the estimate.
"We are pleased, but not surprised, to see a significant resource begin to materialize at the Bridge Zone/Jose Manto," said MAG President and CEO Dan MacInnis.
"Combined with Juanicipio, Cinco de Mayo now gives MAG two significant high grade assets. Although we are still in the early stages, Cinco de Mayo is showing very strong potential for an increase to a substantial size. We expect to follow our exploration model and link the Bridge Zone/Jose Manto to the new Pegaso Zone discovery at depth. The 61 metre thick massive sulphide intercept in Pegaso Zone discovery hole CM-12 431, strongly indicates that there is abundant potential for a much larger resource to emerge at depth."