Guanajuato, Mexico: More Ore
- Great Panther Resources Ltd. (GPR)
- CEO Archer & team fulfill colonial heritage
- Part I of IV
GUANAJUATO, Mexico – Enough already has been said and written about this World Heritage city and its massive contributions to the world’s silver wealth, most of it shipped to Spain.
What has not been said about the silver still remaining beneath this colonial city after 400 years of mining will be said – but only when Robert Archer and his Great Panther Resources team begin reopening more of their historic Guanajuato Mine Complex’s two dozen shafts.
“There’s a tremendous amount of undrilled rock, even after all these years,” says Mr. Archer, a Canadian Scot who assembled Great Panther with a veteran Mexico miner and native, Francisco Ramos Sanchez, in February 2004. “We have 25 shafts, only three operational.”
The CEO is speaking to us at the 460-meter level of the Cata Shaft. We are all dripping in sweat. Mr. Archer and his almost entirely Mexican 
team are seeing some 1,000-gram grades of silver in the quartz-structured resource down here.
“Cata is running 350 grams silver and 1 ½ gold overall, much better than we have seen or said thus far,” Great Panther’s chief operating officer, Charles Brown, chimes in.
Several of us, including more than one independent geologist and a handful if wizened silver analysts, run our hands across the walls of a carved-out hollow just above the new Cata Clavo resource, a 150-meter-by-100-meter rectangle of what might turn into a font of future and intense profits. Free silver in the mostly quartz and calcite-laden rock appears abundant. Electrum, an alloy of natural gold and silver, is also visible to (my) hungry eyes.
Nearly all of those on this midsummer tour underground, including geologist Brent Cook, writer Bob Moriarty and a handful of select commodities bankers, fund managers and analysts from BMO, Dundee and elsewhere, appear duly impressed. A few, including me, want to bring these rocks home now. Mr. Brown and Mr. Archer look comfortably restrained in their body language, having already been exposed to rock fever these hundreds of meters below surface.
Great Panther’s Guanajuato operations, including a remarkably retooled mill that is working metallurgical wonders on its ore, is a gamer in this reporter’s view. The company, a primary silver producer, also operates Topia Mine in Durango State, another silver district farther north from Guanajuato along Mexico’s rich and sprawling Sierra Madre.
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