MAG Silver Begins Drill Program at Lagartos SE
Vancouver, B.C.... MAG Silver Corp (TSXV: MAG) announces that a 2,500 (8,200 feet) metre diamond drill program has started on MAG's 100% owned Lagartos SE property in Zacatecas State, Mexico. This property is located within the Fresnillo Silver Trend and is 50 kilometres south east from the MAG and Industrias Peñoles Juanicipio Joint Venture. The 750 square kilometre Lagartos SE land package surrounds the famous Zacatecas Mining District, one of the oldest and most productive silver mining districts in the world. Reported past production from Zacatecas is almost one billion ounces of silver.
This diamond drill program will focus on the northern extension of the Panuco Vein Field. MAG has identified a number of broad hydrothermal alteration and structural zones, up to 4 kilometres long and ten's of metres wide. Within the associated alteration halo there are quartz veins containing iron oxides and sulphides of zinc, lead and silver. In addition there are other veins and zones characterized by iron rich carbonates, druzy quartz, iron oxides and sulphides of lead and zinc. These zones have returned anomalous silver values ranging from one half ounce up to 2.3 kilograms silver (67 ounces) in selected grab samples from a number of old pit workings and low lying outcrop. These zones are also characterized by a suite of highly anomalous metal values for arsenic, mercury and antimony. These zones are thought to represent an upper level manifestation of a deeper epithermal vein system very much like those found in the Zacatecas and Fresnillo (Juanicipio) districts. As at Juanicipio, these prospective zones lie mostly buried under alluvial cover and as a result have yet to be explored with modern exploration techniques and drilling technologies. The current program is designed to drill test to depth on a number of these vein targets.
In addition MAG has contracted Aeroquest to conduct a 2,200 line kilometre airborne electromagnetic and magnetic (AEM) survey over the Panuco North portion of Lagartos SE that will cover the area of the proposed drill program.
The Lagartos SE, Lagartos NW and the Juanicipio properties comprise three very large and separate claim groups lying along a southeast to northwest mineralized silver trend centered on Fresnillo. All three properties lay along the "Fresnillo Silver Trend" a large regional structural zone hosting the world class Guanajuato, Zacatecas, and Fresnillo Epithermal Silver-Gold vein districts. All of the known deposits were found in outcrop between 350 and 500 years ago, but MAG believes that significant vein systems lie covered by the recent alluvial soils that mask over 60% of the trend. It has been shown that modern exploration technology is able to locate mineralization beneath this cover.
MAG began their exploration for covered Fresnillo-style epithermal veins with compilation of regional geological data, air photo and satellite image analysis and interpretation. This led to MAG staking the Lagartos properties because they lay along the trend, close to the Fresnillo and Zacatecas mining districts, and show strong geological similarities to those districts. The success of the Valdecañas Vein discovery at Juanicipio has greatly enhanced the understanding of this highly productive and under explored region and management believes that lessons learned at Juanicipio should help MAG make additional discoveries in the Fresnillo trend.
About MAG Silver Corp
MAG Silver 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 based in Vancouver, British Columbia, Canada and trades on the TSX-V under the symbol MAG.
On behalf of the Board of
MAG SILVER CORP
President and CEO
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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) 484-4710
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Note to U.S. Investors: Investors are urged to consider closely the disclosure in our Form 20F, File No. 0-50437 available at our office: Suite 328-550 Burrard Street, Vancouver BC, Canada, V6C 2B5 or from the SEC: 1(800) SEC-0330.