MAG Silver Announces Silver-Zinc-Lead Sulphide Veins Near Skarn at Cinco de Mayo
CM11-343: 483 g/t silver with 4.52% lead and 11.74% zinc over 2.81 metres
CM11-335: 486 g/t silver with 4.56% lead and 6.32% zinc over 1.12 metres
Vancouver, B.C. MAG Silver Corp. (TSX: MAG; NYSE-A: MVG) ("MAG" or the "Company") announces high-grade, silver-rich sulphide and skarn altered intrusion intercepts from on-going exploration drilling in the northwestern part of its 100% owned Cinco de Mayo (or "Cinco") property in northern Chihuahua State, Mexico. The first two holes into the previously undrilled "Polaris East" area have hit what appears to be the same set of sheeted sulphide replacement veins. The principal vein in Hole CM11-343 is 2.81 metres wide and grades 483 grams per tonne (g/t) (14.1 ounces per ton)(opt)) Silver, 0.22 g/t gold, 4.52% lead and 11.74% zinc. The same vein is also seen in Hole CM11-335 at 1.42 metres wide reporting 287 g/t (8.3 opt) silver, 0.24 g/t gold, 2.67% lead and 1.40% zinc, with the 0.57 metre interval from 527.11 to 527.68 (0.57m) carrying 636 g/t (18.5 opt) silver, 0.35 g/t gold, 5.42% lead and 2.35% zinc. The intercepts are approximately 50 metres apart with mineralization in both holes consisting of a series of parallel veins ranging from 0.25 to 3.50 metres in width that occur within an overall zone 20 to 35 metres wide. Both holes cut multiple additional parallel sulphide veins and veinlets and highly altered felsite and intermediate dykes. (Please see Table 1 below for the detailed results of the largest of the replacement veins.)
Perhaps just as significant, highly skarn-altered intrusion was cut in Hole CM11-349, drilled 250 metres southwest of Holes 335 and 343. Hole 349 entered highly altered intrusion approximately 280 metres downhole. At about 475 metres downhole the first of a series of structurally controlled multi-stage garnet-pyroxene skarn zones was intercepted. These skarns replace early granodioritic intrusive rocks and contain abundant fine-grained pyrite and arsenopyrite. These holes are the first to hit a significant intrusive body in the ongoing search for large-scale intrusive-contact mineralization that is believed to exist at Cinco de Mayo. All of the important geological signs point to Polaris and our immediate efforts will focus in this area. Hole CM11-350, designed to test the area between the skarned intrusion and sulphides is in progress. Assays are awaited for Hole CM11-349.
"We are encouraged to see high-grade silver-lead-zinc replacement sulphides in close proximity to a multiphase intrusive system, but even more encouraged to see such strong skarn replacement of the intrusions themselves,", said Dan MacInnis, MAG Silver President and C.E.O. "The intrusion skarn characteristics we see speak of a very juicy system, which matches well with our exploration model and results to date for Cinco de Mayo."
The holes were targeted on strong coincident Magnetic and ZTEM geophysical anomalies that underlie an area of roughly 3 kilometres by 3 kilometres lying along the northern projection of the structures that contain the Pozo Seco molybdenum-gold discovery and the Jose Manto.
Table 1 - Detailed assay results for Polaris East Sulphide Vein Intercepts
On-Going Exploration Program Update
The following table lists the assay results for 49 holes and 20,215 metres of drilling at Cinco de Mayo during the last quarter of 2010 and to date in 2011. A total of six specific areas throughout the property were targeted and they are identified in the table.
Drilling will continue to focus on the Polaris and Polaris East areas with two drill rigs to locate the source(s) for gold-silver-molybdenum-lead-zinc-copper and tungsten mineralization, "fugitive" calcite veins, jasperoid alteration, intrusions and the newly identified skarn alteration.
Table 2 - Assay Results Cinco Exploration
|CM10-329*||No significant Intercepts/hole lost in fault||Polaris|
|CM10-304||No significant Intercepts||Polaris|
|CM10-309||No significant Intercepts||Polaris|
|CM10-315||No significant Intercepts||Polaris|
|CM10-318||No significant Intercepts||Polaris|
|CM10-331||No Significant Intercepts||Polaris|
|CM10-332||No Significant Intercepts||Polaris|
|CM10-333*||No significant Intercepts/hole lost in fault||Polaris|
|CM11-337*||No significant Intercepts/hole lost in fault||Polaris|
|CM10-296||No significant Intercepts||PSS|
|CM10-305||No significant Intercepts||PSS|
|CM10-320||No significant Intercepts||PSS|
|CM10-323||No significant Intercepts||PSS|
|CM10-327||No significant Intercepts||PSS|
|CM10-299||No significant Intercepts||La Camarada|
|CM10-302||No significant Intercepts||La Camarada|
|CM10-306||No significant Intercepts||La Camarada|
|CM10-310||No significant Intercepts||La Camarada|
|CM10-316||No significant Intercepts||La Camarada|
|CM10-319||No significant Intercepts||La Camarada|
|CM10-321||No significant Intercepts||La Camarada|
|CM10-325||No significant Intercepts||La Camarada|
|CM10-308||No significant Intercepts||Agate|
|CM10-313||No significant Intercepts||Agate|
|CM10-326||No significant Intercepts||Agate|
|CM10-295||No significant Intercepts||La Gloria|
|CM11-338||No significant Intercepts||La Gloria|
|CM11-340||No significant Intercepts||La Gloria|
*hole lost in fault before reaching targeted depth
PSS indicates the area of Pozo Seco South
Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the remaining technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 20 years of relevant experience focused on silver and gold mineralization, and exploration and drilling in Mexico. He is a certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona registered geologist (ARG 21613). Dr. Megaw is not independent as he is a Director and Shareholder of MAG and is the vendor of this project, whereby he may receive additional shares. Dr. Megaw is satisfied that the results are verified based on an inspection of the core, a review of the sampling procedures, the credentials of the professionals completing the work and the visual nature of the silver and base metal sulphides within a district where he is familiar with the style and continuity of mineralization.
Quality Assurance and Control: The samples are shipped directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco, Mexico (Certification ISO 9001). Samples shipped also include intermittent standards and blanks. Pulp samples are subsequently shipped to ALS-Chemex Laboratories in North Vancouver, Canada for analysis. Two extra pulp samples are also prepared and are analyzed (in progress) by SGS Laboratories (Certification ISO 9001) and Inspectorate Laboratories (Certification ISO 9001) (or other recognized lab). The bulk reject is subsequently sent to CIDT (Center for Investigation and Technical Development) of Peñoles in Torreon, Mexico for metallurgical testing where a fourth assay for each sample is analyzed and a calculated head grade is received on the basis of a concentrate balance. The CIDT also does a full microscopic, XRF and XRD mineralogical analysis.
About MAG Silver Corp. (www.magsilver.com)
>MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. MAG is conducting ongoing exploration of its portfolio of 100% owned properties in Mexico including a silver, lead and zinc discovery and a moly-gold discovery at its 100% owned Cinco de Mayo property in Chihuahua State. MAG and Fresnillo plc are jointly developing the Valdecañas Deposit on the Juanicipio Joint Venture in Zacatecas State. MAG is based in Vancouver, British Columbia, Canada. Its common shares trade on the TSX under the symbol MAG and on the NYSE Alternext under the symbol MVG.
On behalf of the Board of
MAG SILVER CORP.
CEO & Director
- 30 -
For further information on behalf of MAG Silver Corp.
Contact Gordon Neal, VP Corp. Development
Phone: (604) 630-1399
Toll free: (866) 630-1399
Fax: (604) 681-0894
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