While surface drilling aimed at testing a gold bearing vein at Great Panther Resources (GPR-T) Topia mine did hit the yellow metal, the results did little to move the companys share price.
Results come from the Animas vein at its 100% owned Topia Silver-Lead-Zinc Mine in Durango, Mexico and while the best intersection returned 2.58 grams gold over 2.5 metres Great Panthers shares rose just 2 to $2.10 on roughly 630,000.
The modest movement comes after other best intersections returned 2.43 grams gold, 315 grams silver, 0.9% lead and 9% zinc but over just 0.4 metres. Another intersect for 2.85 grams gold and 42.9 grams silver was over just 0.55 metres.
The Vancouer-based company says its surface drill program at Topia is in conjunction with the underground drilling, and is designed to double the NI 43-101 resources by the end of the year.
The first NI 43-101 resource estimate — reported Dec. 28 — contained 3.6 million oz of silver equivalent in the measured and indicated categories and an inferred resource of 1.4 million oz of silver equivalent.
The company is currently mining the Animas vein on three levels, and surface drilling was to test the vein for gold along strike and depth.
Three holes targeted the Animas vein east of one of its mine workings and all intersected gold.
The company says its best result of 2.58 grams gold hit a silicified breccia zone which likely occurs along the Animas vein structure. It plans further drill testing to determine the extent of the brecciation and veining.
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