TSXV: GSVR
OTCQX: GSVRF 
- Silver-rich polymetallic mine that is currently producing from high-grade veins.
- Topia produces concentrates containing silver, lead, zinc and gold.
| Historical Mineral Resource Estimate | ||||||
| Tonnes (t) |
Ag (g/t) |
Au (g/t) |
Pb (%) |
Zn (%) |
AgEq (ounces) |
|
| M&I | 331,800 | 609 | 1.84 | 4.4 | 4.5 | 11.1M |
| Inferred | 274,600 | 592 | 1.44 | 3.35 | 3.63 | 8.2M |
2021 historical mineral resource AgEq oz were calculated using 85:1 Ag:Au ratio, and ratios of 1:0.041 and 1:0.049 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2021.
The disclosure below is from the technical report dated March 7, 2024 (effective date December 31, 2023) titled “Technical Report on the Topia Property, Durango, Mexico” available on SEDAR+. available on SEDAR+ (the “Topia Report”).
On February 11, 2022, Great Panther reported an updated Mineral Resource Estimate (“MRE”) for the Topia Mine with an effective date of March 31, 2021 (the “Great Panther Historical MRE”). The Great Panther Historical MRE was supported by a technical report titled, “NI 43-101 Report on the Topia Mine Mineral Resource Estimates as of March 31st, 2021”, prepared for Great Panther by Brown and Nourpour (2022), dated and filed on SEDAR February 11, 2022.
The Great Panther Historical MRE comprised Measured and Indicated Mineral Resources of 331,800 tonnes at 609 grams per tonne (g/t) Ag, 1.84 g/t Au, 4.40% Pb, and 4.50% Zn, and Inferred Mineral Resources of 274,600 tonnes at 592 g/t Ag, 1.44 g/t Au, 3.35% Pb, and 3.63% Zn (Table 6.2). A Qualified Person has not done sufficient work to classify the Great Panther Historical MRE as current Mineral Resources. The author of the Topia Report and GSilver are not treating the Great Panther Historical MRE as current Mineral Resources.
The Great Panther Historical MRE was classified using the definitions set out in the CIM Definition Standards (May 2014). Geological modelling and subsequent Mineral Resource estimation were performed by Great Panther under the supervision of the Qualified Persons in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 2019).
The disclosure below is from the technical report dated March 7, 2024 (effective date December 31, 2023) titled “Technical Report on the Topia Property, Durango, Mexico” available on SEDAR+. available on SEDAR+ (the “Topia Report”).
On February 11, 2022, Great Panther reported an updated Mineral Resource Estimate (“MRE”) for the Topia Mine with an effective date of March 31, 2021 (the “Great Panther Historical MRE”). The Great Panther Historical MRE was supported by a technical report titled, “NI 43-101 Report on the Topia Mine Mineral Resource Estimates as of March 31st, 2021”, prepared for Great Panther by Brown and Nourpour (2022), dated and filed on SEDAR February 11, 2022.
The Great Panther Historical MRE comprised Measured and Indicated Mineral Resources of 331,800 tonnes at 609 grams per tonne (g/t) Ag, 1.84 g/t Au, 4.40% Pb, and 4.50% Zn, and Inferred Mineral Resources of 274,600 tonnes at 592 g/t Ag, 1.44 g/t Au, 3.35% Pb, and 3.63% Zn (Table 6.2). A Qualified Person has not done sufficient work to classify the Great Panther Historical MRE as current Mineral Resources. The author of the Topia Report and GSilver are not treating the Great Panther Historical MRE as current Mineral Resources.
The Great Panther Historical MRE was classified using the definitions set out in the CIM Definition Standards (May 2014). Geological modelling and subsequent Mineral Resource estimation were performed by Great Panther under the supervision of the Qualified Persons in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 2019).
Great Panther Historical Mineral Resource Estimate for Topia (Effective Date March 31, 2021; Brown and Nourpour, 2022)
|
Classification |
Tonnage (kt) |
Ag (g/t) |
Au (g/t) |
Pb (%) |
Zn (%) |
|
Total Measured |
176.0 |
630 |
1.92 |
4.63 |
4.80 |
|
Total Indicated |
155.8 |
587 |
1.75 |
4.15 |
4.16 |
|
Total M & I |
331.8 |
609 |
1.84 |
4.40 |
4.50 |
|
Total Inferred |
274.6 |
592 |
1.44 |
3.35 |
3.63 |
Notes:
1. Area-Specific vein bulk densities as follows: Argentina - 3.04t/m3; 1522 - 3.15t/m3; Durangueño - 3.15t/m3; El Rosario – 2.92t/m3; Hormiguera - 2.61t/m3; La Prieta - 2.86t/m3; Recompensa - 3.32t/m3; Animas - 3.02t/m3; San Miguel - 2.56t/m3; San Juan – 3.39t/m3; Laura (Hipolito) – 2.85t/m3; and Unión del Pueblo – 2.61t/m3.
2. Historical Measured, Indicated, and Inferred Mineral Resources were reported at a cut-off Net Smelter Return (NSR) in US$, include 1522 Mine $280/t, Argentina Mine $257/t, Durangueño Mine $202/t, Recompensa Mine $245/t, Hormiguera Mine $230/t, El Rosario Mine $345/t, La Prieta $254/t, Animas $287/t, San Miguel $241/t, San Juan $233/t, Laura (Hipolito) $252/t, and Unión del Pueblo $241/t.
3. Total estimates may not agree due to rounding.
4. A minimum mining width of 0.30 metres was used.
5. Historical Mineral Resources were estimated using metal prices of US$1,650/oz Au, US$20.00/oz Ag, US$0.85/lb Pb, and US$1.20/lb Zn; and metallurgical recoveries of 92.4% for Ag, 55.4% for Au, 94.3% for Pb, and 90.5% for Zn.
6. 2021 historical Mineral Resource AgEq oz were calculated using 85:1 Ag:Au ratio, and ratios of 1:0.041 and 1:0.049 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2021.
1. Area-Specific vein bulk densities as follows: Argentina - 3.04t/m3; 1522 - 3.15t/m3; Durangueño - 3.15t/m3; El Rosario – 2.92t/m3; Hormiguera - 2.61t/m3; La Prieta - 2.86t/m3; Recompensa - 3.32t/m3; Animas - 3.02t/m3; San Miguel - 2.56t/m3; San Juan – 3.39t/m3; Laura (Hipolito) – 2.85t/m3; and Unión del Pueblo – 2.61t/m3.
2. Historical Measured, Indicated, and Inferred Mineral Resources were reported at a cut-off Net Smelter Return (NSR) in US$, include 1522 Mine $280/t, Argentina Mine $257/t, Durangueño Mine $202/t, Recompensa Mine $245/t, Hormiguera Mine $230/t, El Rosario Mine $345/t, La Prieta $254/t, Animas $287/t, San Miguel $241/t, San Juan $233/t, Laura (Hipolito) $252/t, and Unión del Pueblo $241/t.
3. Total estimates may not agree due to rounding.
4. A minimum mining width of 0.30 metres was used.
5. Historical Mineral Resources were estimated using metal prices of US$1,650/oz Au, US$20.00/oz Ag, US$0.85/lb Pb, and US$1.20/lb Zn; and metallurgical recoveries of 92.4% for Ag, 55.4% for Au, 94.3% for Pb, and 90.5% for Zn.
6. 2021 historical Mineral Resource AgEq oz were calculated using 85:1 Ag:Au ratio, and ratios of 1:0.041 and 1:0.049 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2021.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
Source: For additional details refer to the technical report dated March 7, 2024 (effective date December 31, 2023) titled “Technical Report on the Topia Property, Durango, Mexico” available on SEDAR+.
The Topia Mine, in north-western Durango, has operated since 2004; the mine includes a 260 tonnes per day flotation processing plant that is currently operating at close to full capacity.
