MAG Silver Discovers High Grade Molybdenum With Gold at Cinco De Mayo
MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG") is pleased to announce assay and geological results from ongoing exploration drilling on its 100% owned Cinco de Mayo property in northern Chihuahua State, Mexico. The most significant result from this ongoing program is the discovery of a high grade Molybdenum (Mo) (gold) zone at Pozo Seco located 4.0 kilometres southwest of the Jose Manto Discovery (see Tables 1.0 and 2.0). To view Table 2, please click on the following link: http://media3.marketwire.com/docs/mag923t2.pdf.
Hole 130, reported 75 metres (beginning near surface) averaging 0.307% molybdenum (Mo), including 34.5 metres averaging 0.637% Mo with 0.140 ppm gold, and also including 4.65 metres that runs 1.64% Mo with 0.467 ppm gold.
A second hole, 83, cut a 56.8 metre section (beginning near surface) running 0.19% molybdenum with 0.11 ppm gold, including a 17.4 metre section within the lower part of the zone that runs 0.47% molybdenum with 0.20 ppm gold. The base of this zone also includes a 2.3 metre section carrying 4% Zinc (to view diagram, please click on the following link: http://media3.marketwire.com/docs/mag923map.JPG).
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Table 1.0 Highlights from Pozo Seco Moly (gold) Zone
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From To Width Molybdenum Gold Zinc
Hole Number metres metres metres % ppm %
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CM09-130 6.10 81.30 75.20 0.307 0.07 0.08
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including 46.77 81.3 34.53 0.637 0.141 0.18
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including 68.8 73.45 4.65 1.64 0.467 0.94
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CM08-083 22.63 79.45 56.82 0.19 0.11 0.28
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including 55.91 73.33 17.42 0.47 0.20 0.73
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including 70.70 73.33 2.63 0.58 0.15 4.08
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CM09-123 21.08 44.17 23.09 0.02 0.33 0.10
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including 28.93 30.48 1.55 0.03 1.09 0.14
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"The Pozo Seco moly-gold zone intersections are significant in that they not only report high grade Mo (Au) over appreciable widths...creating potential as a stand-alone high-grade molybdenum target, but they are remarkably similar to mineralization that flanks the central parts of San Martin-Sabinas, Zacatecas, the largest skarn-replacement deposit known in Mexico," said Dan MacInnis, MAG Silver President. "The Cinco de Mayo system continues to demonstrate its extent and strength as a very high percentage of the recent holes, drilled in the 7.5 by 16 kilometre area south and west of the Jose Manto, have encountered new silver, gold and molybdenum mineralization. The Pozo Seco moly-gold results may be a strong indicator that a causitive intrusive center is located nearby. The data are being compiled into a state-of-the-art database which indicates we have numerous additional geophysical targets to test and we look forward to continued significant advances in our understanding of this very large, complex, and poorly exposed system."
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