Americas Gold and Silver Corporation (TSX: USA) (NYSE American:
USAS) (“Americas” or the “Company”), a growing North American
precious metals producer, is pleased to provide an update to Galena
Complex exploration results.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240326126615/en/
Figure 1: Intercept from Hole 49-703 and
proximity to Hole 49-668 (Photo: Americas Gold and Silver
Corporation)
Following the successful drill results at the Galena Complex
highlighted in the Company’s January 23, 2024 press release, the
Company is pleased to provide results from Hole 49-703, returning
an extremely high-grade Ag-Cu intercept targeting the gap in
drilling between the 4600 Level and the 4900 Level.
- Hole 49-703: 20,147 g/t silver and 5.9% copper (20,842
g/t silver equivalent[1]) over 2.1 m[2]
- Hole 49-703 is less than 10 meters from the previously
announced hole, 49-668, and is within 30 meters of existing mine
infrastructure.
- The Company intends to drill additional holes to delineate the
vein and contained grade and is confident that this area can
provide high-grade ore to the mill before the end of Q2-2024.
“The Galena Complex exploration program continues to deliver.
Hole 49-703 is one of the highest grade holes since the Company
commenced the Galena Complex Recapitalization Program in 2019. This
hole shows a successful follow-up to the 49-668 high-grade
intercept drilled in late 2023.” stated Americas President and CEO
Darren Blasutti. “In addition to the spectacular grade, the hole is
near existing infrastructure and in an area without previously
known mineralization. This location should enable to Company to
exploit this area quickly and generate additional silver production
in the near term.”
Galena Exploration Update
The Galena Complex has been actively drilling near mine
exploration targets with exciting results including an area between
the 4600 Level and 4900 Level which was previously a gap in
drilling, did not contain a mineral resource, and has since been
consistently returning high-grade intercepts of attractive Ag-Cu
veins. After the positive results from the drill program located
near the 4600 level and reported in the Company’s January 23rd
press release, the Company prioritized follow-up drilling to the
high-grade intercept in Hole 49-668. The Company decided to move a
drill to a decommissioned powder magazine on the 4900 level to
explore and define this area. Hole 49-703 is the first successful
follow up hole in this program and its proximity to the intercept
in Hole 49-668 indicates continuity of the vein in this area.
- Hole 49-703: 20,147 g/t silver and 5.9% copper (20,842
g/t silver equivalent) over 2.1 m
The previously reported hole on which was reported on January
23, 2024 was hole 49-668 and contained:
- Hole 49-668: 5,663 g/t silver, 1.1% copper and 0.2% lead
(5,793 g/t silver equivalent) over 0.8 m
and: 1,012 g/t silver and 0.6% copper (1,087
g/t silver equivalent) over 1.1 m
and: 5,598 g/t silver, 2.3% copper and 4.0%
lead (5,982 g/t silver equivalent) over 1.2 m
A full table of drill results can be found at:
https://americas-gold.com/site/assets/files/4297/dr20240326.pdf
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious
metals mining company with multiple assets in North America. The
Company owns and operates the Cosalá Operations in Sinaloa, Mexico,
manages the 60%-owned Galena Complex in Idaho, USA, and is
re-evaluating the Relief Canyon mine in Nevada, USA. The Company
also owns the San Felipe development project in Sonora, Mexico. For
further information, please see SEDAR or www.americas-gold.com.
Technical Information and Qualified Persons
The scientific and technical information relating to the
operation of the Company’s material operating mining properties
contained herein has been reviewed and approved by Chris McCann,
P.Eng., VP Technical Services of the Company. The Company’s current
Annual Information Form and the NI 43-101 Technical Reports for its
other material mineral properties, all of which are available on
SEDAR+ at www.sedarplus.com, and EDGAR at www.sec.gov, contain
further details regarding mineral reserve and mineral resource
estimates, classification and reporting parameters, key assumptions
and associated risks for each of the Company’s material mineral
properties, including a breakdown by category.
All mining terms used herein have the meanings set forth in
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects (“NI 43-101”), as required by Canadian securities
regulatory authorities. These standards differ from the
requirements of the SEC that are applicable to domestic United
States reporting companies. Any mineral reserves and mineral
resources reported by the Company in accordance with NI 43-101 may
not qualify as such under SEC standards. Accordingly, information
contained in this news release may not be comparable to similar
information made public by companies subject to the SEC’s reporting
and disclosure requirements.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within
the meaning of applicable securities laws. Forward-looking
information includes, but is not limited to, Americas’
expectations, intentions, plans, assumptions and beliefs with
respect to, among other things, the Company’s drilling program at
the Galena Complex, including expectations regarding future
drilling and the results therefrom,; the Company’s ability to
access and exploit recently drilled holes and grades and provide
high-grade ore to the mill on currently expected timing and the
anticipated impact on overall production; production from the
Galena Complex, including the expected number of producing stopes
and production levels; .. Often, but not always, forward-looking
information can be identified by forward-looking words such as
“anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”,
“potential’, “estimate”, “may”, “assume” and “will” or similar
words suggesting future outcomes, or other expectations, beliefs,
plans, objectives, assumptions, intentions, or statements about
future events or performance. Forward-looking information is based
on the opinions and estimates of Americas as of the date such
information is provided and is subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results,
level of activity, performance, or achievements of Americas to be
materially different from those expressed or implied by such
forward-looking information. With respect to the business of
Americas, these risks and uncertainties include risks relating to
widespread epidemics or pandemic outbreak, actions that have been
and may be taken by governmental authorities to contain such
epidemic or pandemic or to treat its impact and/or the
availability, effectiveness and use of treatments and vaccines
(including the effectiveness of boosters); interpretations or
reinterpretations of geologic information; unfavorable exploration
results; inability to obtain permits required for future
exploration, development or production; general economic conditions
and conditions affecting the industries in which the Company
operates; the uncertainty of regulatory requirements and approvals;
potential litigation; fluctuating mineral and commodity prices; the
ability to obtain necessary future financing on acceptable terms or
at all; the ability to operate the Company’s projects; and risks
associated with the mining industry such as economic factors
(including future commodity prices, currency fluctuations and
energy prices), ground conditions, illegal blockades and other
factors limiting mine access or regular operations without
interruption, failure of plant, equipment, processes and
transportation services to operate as anticipated, environmental
risks, government regulation, actual results of current exploration
and production activities, possible variations in ore grade or
recovery rates, permitting timelines, capital and construction
expenditures, reclamation activities, labor relations or
disruptions, social and political developments, risks associated
with generally elevated inflation and inflationary pressures, risks
related to changing global economic conditions, and market
volatility, risks relating to geopolitical instability, political
unrest, war, and other global conflicts may result in adverse
effects on macroeconomic conditions including volatility in
financial markets, adverse changes in trade policies, inflation,
supply chain disruptions and other risks of the mining industry.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Readers are cautioned not to place undue reliance on such
information. Additional information regarding the factors that may
cause actual results to differ materially from this forward‐looking
information is available in Americas’ filings with the Canadian
Securities Administrators on SEDAR+ and with the SEC. Americas does
not undertake any obligation to update publicly or otherwise revise
any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law. Americas does not give any
assurance (1) that Americas will achieve its expectations, or (2)
concerning the result or timing thereof. All subsequent written and
oral forward‐looking information concerning Americas are expressly
qualified in their entirety by the cautionary statements above.
1 Silver equivalent grade for drill intercepts were calculated
using metal prices of $22.00/oz silver, $3.75/lb copper and
$0.95/lb lead and equivalent metallurgical recoveries were assumed
for all metals (silver, lead and copper).
2 Meters represent “True Width” which is calculated for
significant intercepts only and is based on orientation axis of
core across the estimated dip of the vein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240326126615/en/
For more information: Stefan Axell VP, Corporate
Development & Communications Americas Gold and Silver
Corporation 416-874-1708
Darren Blasutti President and CEO Americas Gold and Silver
Corporation 416‐848‐9503
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