Gatos Silver Stories New Intercepts of Excessive-Grade Mineralization at Cerro Los Gatos

Article content material

VANCOUVER, British Columbia, Jan. 25, 2024 (GLOBE NEWSWIRE) — Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Firm”) at this time supplied an replace on the drilling and exploration packages within the Los Gatos district (“LGD”) in Mexico. The replace contains new intercepts of high-grade mineralization within the South-East Deeps (“SE Deeps”) zone of its 70%-owned Cerro Los Gatos (“CLG”) mine.

Article content material

“These newest outcomes from the SE Deeps useful resource conversion drilling program proceed to focus on the chance to increase the CLG mine life,” stated Dale Andres, CEO of Gatos Silver. “We have now six of seven floor drill rigs persevering with on SE Deeps conversion drilling through the first quarter. We stay very inspired by the continuity and grade of mineralization extending past our present mineral reserve, and we’re wanting ahead to incorporating these outcomes into an up to date mineral reserve and mineral useful resource estimate which we anticipate to finish within the third quarter of 2024.”

Article content material

This autumn 2023 Highlights

• Useful resource definition drilling within the SE Deeps zone of CLG intercepted extra high-grade mineralization beneath the present mineral reserve (see Desk 1 for full intercept particulars)
  • 3.0m (2.8m estimated true width, or “ETW”) at 528 g/t Ag, 1.26% Pb and 1.41% Cu (SE-557)
  • 2.0m (1.6m ETW) at 291 g/t Ag, 4.27% Zn, 12.20% Pb, 0.40 g/t Au and 0.55% Cu (SE-558)
  • 5.1m (4.0m ETW) at 103 g/t Ag, 16.49% Zn, 7.01% Pb, 0.14 g/t Au and 0.21% Cu (SE-559)
  • 4.0m (3.3m ETW) at 243 g/t Ag, 9.74% Zn, 6.01% Pb, 0.39 g/t Au and 0.28% Cu (SE-560)
  • 3.0m (2.5m ETW) at 179 g/t Ag, 5.84% Zn, 4.49% Pb, 1.10 g/t Au and 0.65% Cu (SE-562)
  • 10.7m (8.9m ETW) at 133 g/t Ag, 8.34% Zn, 3.21% Pb, 0.11 g/t Au and 0.16% Cu (SE-563)
  • 1.6m (1.3m ETW) at 201 g/t Ag, 15.45% Zn, 4.32% Pb, 0.25 g/t Au and 0.73% Cu (SE-572)
• Greenfields exploration work within the LGD continues to advance in preparation for elevated drilling anticipated to start out in Q2 2024
  • We accomplished one gap at Portigueño and one gap at Cascabel with optimistic indicator minerals and beneficial buildings current
  • We accomplished detailed mapping and rock geochemistry on the Esperanza, San Agustin, Portigueño, Cieneguita and San Luis areas to help drill goal era

Article content material

CLG South-East Deeps Useful resource Definition Drilling

The SE Deeps mineralization extends roughly 1km laterally and 400m vertically, which adjoins the present SE mineral reserve and stays open alongside strike.

Throughout 2022 and Q1 2023 we accomplished drilling at roughly 100m to 200m spacing for the aim of building the bigger scale strike and dip of the SE Deeps zone. Since Q2 2023 we’ve got centered on infilling the higher-grade areas of the zone to 50m spacing. That drilling has progressed nicely and we stay on observe to finish the anticipated 50m spacing of key areas by the tip of Q1 2024. As anticipated, this tighter drill spacing is exhibiting that variability inside the zone exists, with increased grade in some areas and decrease grade in different areas. On common, base metals together with copper, signify a better proportion of the in-situ worth than within the Central and North-West zones. Drill outcomes proceed to exhibit glorious potential for a multi-year mine life extension.

Determine 1: Lengthy part of CLG¹ exhibiting SE useful resource definition drilling intercepts (drilled width) obtained since our press launch dated October 23, 2023. See Desk 1 for full intercept particulars together with true width estimates.²

Article content material

Article content material

¹ The 2023 Mineral Reserve and 2023 Mineral Useful resource is disclosed within the Technical Report Abstract dated October 20, 2023 (the “Los Gatos Technical Report”) which is filed with the SEC and obtainable on the Firm’s web site (