Gatos Silver (NYSE: GATO), a silver-dominant exploration, development and production company, is reporting an update on its drilling and exploration programs in the Mexico-based Los Gatos District (“LGD”) . The company is 70% owner of the Los Gatos Joint Venture (“LGJV”). The update notes early positive results, such as mineralized intercepts on the Central Deeps target; the potential for a further extension of the South-East Deeps zone at the Cerro Los Gatos (“CLG”) Mine; and key developments in the ongoing regional exploration program.
“The exploration results this quarter continue to demonstrate further life-extension potential at CLG beyond the recently announced mine life that now extends to the end of 2032,” said Gatos Silver CEO Dale Andres in the press release. “Our first three holes in the Central Deeps target, an area which has never been tested before, hit mineralization. The latest results in the South-East Deeps zone show further extension potential to the southeast of the current mineral reserves in this area. Moreover, we continue to pursue the longer-term potential across the broader Los Gatos district, as drilling continued at the Portigueño and San Luis targets and field mapping and target generation continued in the Lince and Los Veranos areas. We expect to start drilling our highest ranked targets at Lince during the fourth quarter.”
To view the full press release, visit https://ibn.fm/eXPV6
About Gatos Silver Inc.
Gatos Silver is a silver-dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. As a 70% owner of the Los Gatos Joint Venture (“LGJV”), the company is primarily focused on operating the Cerro Los Gatos mine as well as on growth and development of the Los Gatos district. The LGJV consists of approximately 103,000 hectares of mineral rights, representing a highly prospective and underexplored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets. On Sept. 5, 2024, Gatos Silver and First Majestic Silver Corp. announced they had entered into a definitive merger agreement pursuant to which First Majestic will acquire all of the issued and outstanding common shares of Gatos Silver. The proposed transaction would consolidate three world-class, producing silver mining districts in Mexico to create a leading intermediate primary silver producer. Information relating to the proposed transaction can be found at the Company’s website at www.gatossilver.com.
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