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South American Silver Corp. ("SASC" or the "Company"), (TSX: SAC), is pleased to report the updated resource at its Malku Khota silver-indium property in Bolivia. An independent NI 43-101 compliant resource estimate has been completed by the consulting group Pincock Alan & Holt ("PAH"), and will be included in an updated NI 43-101 report authored by PAH. This resource includes mineralization from the Limosna, Wara Wara and Sucre zones based on assay results available to the Company as of the end of August.
This resource is based on approximately 25,000 metres of drilling in 75 drill holes. The mineralization is still open ended to the north and south of all three zones and at depth and drilling is continuing.
The highlights of the resource estimate are shown in the following tables:
Indicated Resource Estimate
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Silver Indium
Cut Off Grade Grade Silver Indium
(g/t Silver) Tonnes (g/t) (g/t) Troy Ounces Kilograms
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10 151,355,000 29.71 5.58 144,597,000 845,000
20 80,698,000 43.15 6.75 111,966,000 544,000
30 45,116,000 57.90 7.75 83,989,000 350,000
40 28,505,000 71.54 8.50 65,567,000 242,000
50 18,904,000 85.33 9.15 51,861,000 173,000
60 13,534,000 97.52 9.80 42,432,000 133,000
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Indicated Resource Estimate
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Silver Indium
Cut Off Grade Grade Silver Indium
(g/t Silver) Tonnes (g/t) (g/t) Troy Ounces Kilograms
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10 230,069,000 24.03 4.21 177,783,000 968,000
20 95,330,000 37.81 5.87 115,882,000 560,000
30 50,726,000 49.74 7.06 81,120,000 358,000
40 31,471,000 59.13 7.69 59,832,000 242,000
50 18,236,000 69.78 8.15 40,910,000 149,000
60 10,691,000 80.63 8.82 27,714,000 94,000
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Recent approximate prices, as displayed on websites such as mineralprices.com or nickelalloy.com, for the metals include silver at US$0.42 per gram (US$13.00/oz) and indium at US$0.70 per gram (US$700/kg).
Ralph Fitch, President of the Company stated "We are very pleased with the way the project is developing. This new resource starts to show the potential size of the project in the northern three and a half kilometres of our 15 kilometre land position. This resource contains the higher grade, two to three ounce per tonne silver enrichment mineralization at Limosna and the Sucre zone. Significantly the higher grades start at the surface with no cover at Limosna and would be the first ore to be mined in the large open pit operation that we envisage."
The resource was estimated using Ordinary Kriging on composited drill hole assays from 75 drill holes. Results were estimated into a block model developed using Surpac software. This resource estimate will be included in the ongoing Initial Economic Assessment currently being carried out by PAH, all of which will be included in an updated NI 43-101 report.
Barton Stone, C.P.G., Chief Geologist of Pincock Alan & Holt is the Qualified Person for this resource estimate and has been assisted by Abani R. Samal, C.P.G., Geologist, Geostatistician. Both have reviewed the content of this press release.
SASC is a mineral exploration company that acquires, explores and develops mineral properties, primarily silver, gold and copper in South America. The Company presently holds interests in three properties: the flagship Malku Khota silver-indium-gold and the Laurani gold-silver properties in Bolivia and the Escalones copper-gold-molybdenum property in Chile. – Press Release