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Pantera Silver Announces Commencement of Exploration on the Nuevo Taxco Silver Project, Mexico

Newsfile Corp.
·5 min read

Vancouver, British Columbia--(Newsfile Corp. - March 15, 2021) - Pantera Silver Corp. (TSXV: PNTR) ("Pantera", "the Company") is pleased to announce that field personnel have mobilized to its Nuevo Taxco Silver Project (the "Property") in Guerrero state, Mexico. Nuevo Taxco Silver Project is ~1,100 hectares located approximately 125 km southwest of Mexico City near the municipality of Taxco - the historical silver capital of Mexico.

Property Highlights:

  • Twenty-one (21) high-grade veins mapped and sampled within a 135 hectare area of the property. All have substantial width and range from 150-350 meters in length, open along strike and depth.

  • Over 395 samples to date ranging from 100g/tonne to over 1,000 g/t Silver including; three (3) samples (1,430, 1,230, 1,100 g/t), one hundred and nineteen (119) grading over 100 g/t Silver including eighteen (18) samples between 500-900 g/t Silver and ninety-two (92) between 100-499 g/t Silver.

  • Initial ~1,600 meter drill program (total planned 4,500) on priority targets within 21 vein target area.

  • The entire ~1,100 hectare property is considered substantively unexplored offering additional upside exploration potential.

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An aggressive exploration program is planned to further determine the extent of the mineralized silver veins discovered in bedrock during an exploration program completed by Impact Silver Corp. in 2013. Work by Impact at the Property mapped significant silver mineralization hosted in twenty-one (21) silver bearing veins within a ~135 hectare exploration area: many of these veins were sampled by Impact and returned compelling silver results. The principal target area focussed on the identified veins that were discovered to display significant widths, and that were individually traced over 150 to 350 meters in length. All of the veins discovered by Impact remain open along strike and to depth, and the Company intends to identify additional veins and vein extensions and to comprehensively map potential hosts of further mineralization.

This initial exploration program will include:

  • Satellite remote sensing vein, alteration and structural mapping program;

  • Continuation of targeted grid sampling which will be merged with existing data to extend the coverage over the exploration area;

  • Selective channel sampling and trenching, and opportunistic sampling of local historical adits (where open and safe to enter);

  • Focussed field mapping of veins, alteration and structure to further prioritise targeting, and to confirm historical target rankings by Impact; and,

  • Commencement of an initial drill program of 1,600 meters (total 4,500) focused on priority targets identified within the twenty-one (21) silver bearing veins mapped to date.

The Company is also considering the application of IP geophysics to assist with targeting and target ranking. A permit application for exploration drilling is being prepared for filing with SEMERNAT, the Mexican national environmental authority, to allow for the drilling of some 20 identified initial drill targets. The Company anticipates permitting for up to 4,500 meters of exploration drilling. The initial drilling program will be approximately 1,600 meters on the initial top priority targets. As work progresses, this exploration program is subject to change without notice.

FIGURE 6 - Nuevo Taxco Silver Project Detailed Map of significant Veins, April 9, 2018 (Visit http://www.panterasilver.com for details)

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/5998/77331_5e514533a46f6b58_001full.jpg

José A. Olmedo, is a "qualified person" within the meaning of the NI 43-101, and is responsible for the technical information disclosed in this news release.

In addition, Pantera announces it has arranged a non-brokered private placement at a price of CAD$0.12 per unit ("Unit") for proceeds up to CAD$180,000.00 (the "Private Placement"). Each Unit will consist of one Pantera Share and one Pantera Share purchase warrant at a price of $0.20, exercisable for a period of two years from issuance (the "Warrants"). Pantera intends to use the net proceeds from the Private Placement for general corporate purposes and working capital. All securities distributed pursuant to the Private Placement will be subject to a statutory hold period of four months from the date of issuance. Closing of the Private Placement and the Transaction are subject to receipt of all necessary regulatory approvals, including approval from the TSXV.

About Pantera Silver Corp.

Pantera Silver Corp. is a mineral exploration company committed to enhancing shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships and highly experienced technical teams. Pantera will continue to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities that build lasting relationships through honest and respectful business and environmental practices. For more information visit http://panterasilver.com.

On behalf of the Board of Directors
"Jay Roberge"
CEO/Chairman
Pantera Silver Corp.
roberge@tehama.com / +1.778.895.0247

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Pantera Silver Corp disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as required by law.

Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77331