MEXICO – GREAT PANTHER RESOURCES of Vancouver recently celebrated the reopening of the famous Guanajuato silver mines in central Mexico. The company purchased a 100% interest in the mines in late 2005 and began work in June 2006. The plant has been refurbished, the mine rehabilitated and the production rate expanded. Great Panther is targeting production of 1.1 million oz of silver equivalent in 2008, with the potential to double that to more than 2.0 million oz over the next few years.
The Guanajuato mining district is one of the most prolific and best known silver districts in the world, according to Great Panther. Silver was discovered in 1548, and estimates of historic production range from 700 million to 1.5 billion oz of silver, as well as 4.0 million to 7.0 million oz of gold. During the 18th Century, the district was reportedly producing one-third of the world’s silver.
Great Panther is conducting an extensive drill program in order to establish NI 43-101-compliant resource estimates for the silver and gold that remain in the centuries-old mining complex of 25 shafts and more than 100 km of tunnels.
Photos from the site can be seen at www.greatpanther.com.