MAG Silver Increases Land Position at Lagartos, Fresnillo District, Zacatecas, Mexico
Vancouver, B.C.... MAG Silver Corporation (TSXV: MAG) is pleased to announce that it has increased its exploration properties through a land package acquisition to MAG's Lagartos SE claim group, in Zacatecas State, Mexico. This acquisition is a continuation and confirmation of MAG's commitment to the exploration potential of the Zacatecas Silver Mining District (Fresnillo Trend).
The new claims were acquired in four separate parcels and total 12,534 hectares. They are internal and adjacent to the company's present claim holdings at Lagartos SE (see attached maps). The land package controlled by MAG Silver within this portion of the Fresnillo silver belt now totals over 130,000 hectares and helps maintain our position as the largest landholder in the area.
Included within MAG's Fresnillo trend land package is our 8,302 hectare Juanicipio property where MAG recently entered into a Joint Venture arrangement (see press release dated April 04, 2005) with Industrias Penoles S.A. de C.V., the world's largest producer of refined silver. Peñoles' current exploration campaign near the eastern boundary of Juanicipio resulted in the recently announced "Saucito" silver-gold vein discovery. This significant new mineral discovery enlarges the mineral endowment of the Fresnillo mine district and significantly highlights the potential for new and similar discoveries "under cover" in and along the Fresnillo trend.
MAG's 2003-2004 exploration drilling at Juanicipio intersected several vein structures with significant silver and gold values lying along the projection of the Saucito vein group. The initial Joint Venture exploration effort will focus on linking MAG's discoveries to the Saucito veins.
Drilling at Lagartos NW last year intersected 65 meters of strong advanced argillic alteration followed by 700 meters of strong silicification with abundant pyrite. The drilling also significantly encountered several narrow mineralized structures, the best of which ran 1.3 g/T Au over nearly 1.5 meters.
The results at Lagartos strongly indicate that we are within a high-level portion of a major epithermal system (i.e. Fresnillo) only 30 kilometres along the structural trend from the Fresnillo silver district. Anomalous values of gold (up to 1.3 g/t), silver, mercury, antimony, and arsenic are found throughout the holes and indicating that an epithermal system is in place.
Geotechnical programs are presently underway on the Lagartos land holdings, still controlled 100% by MAG Silver Corporation.
About MAG Silver Corp.
MAG is a Silver exploration company focused on projects located within the Mexican Silver Belt. Our large land inventory is well positioned in mining districts with historical and ongoing large-scale, high-grade silver production. MAG's exploration efforts are engaged in the search for multi-million ounce silver deposits on a district scale. We are committed to discover silver deposits of size and grade that are able to withstand and overcome fluctuations in commodity prices. Our mission is to become one of the premier silver companies in the Silver Mining Industry. MAG is based in Vancouver, British Columbia, Canada and trades on the TSXV as MAG.
President and CEO
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For further information on behalf of MAG Silver Corp. contact Gordon Neal
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.