The estimates were prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101').
The Company will file a technical report in respect of each of
Topia Highlights
Measured and Indicated ('M&I') Mineral Resource grade increased 8% to 1,041 silver equivalent grams per ton ('Ag eq g/t'), when compared with the 2018 MRE for
M&I Mineral Resources decreased 25% to 11.1 million silver equivalent ounces ('Ag eq oz'), when compared with the 2018 MRE.
GMC Highlights
M&I Mineral Resource grade increased 2% to 391 grams Ag eq g/t when compared with the 2020 MRE for GMC.
M&I Mineral Resources decreased 36% to 7.7 million Ag eq oz when compared with the 2020 MRE.
Topia Mineral Resource Estimate Update
The MRE for
In contrast to the 2018 MRE, current resource estimations include the addition of block models for veins in the
Guanajuato Mine Complex Mineral Resource Estimate Update
GMC is comprised of the
The MRE for the GMC has an effective date of
Compared to the previous MRE with an effective date of
Cautionary Note Regarding Absence of Mineral Reserve Estimates
There are no current estimates of Mineral Reserves for any of the GMC or
ABOUT GREAT PANTHER
Great Panther is a growth-oriented precious metals producer focused on the
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, 'forward-looking statements'). Such forward-looking statements may include, but are not limited to, statements regarding (i) the Company's ability to execute its growth plan and to unlock value from its asset portfolio, (ii) the Mineral Resource estimates and the assumptions underlying the estimates (iii) the Company's ability to secure a permit to extend the tailings storage facility for the GMC mine or to successfully find other alternatives to maximize the value of GMC, and (iv) the potential of 3D modelling creating adequate targets for further exploration.
These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: continued operations and exploration work in 2022 occur without significant interruption due to COVID-19 or any other reason; the accuracy of the Company's resource estimate at
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to: the impact of COVID-19 on the Company's ability to operate and conduct exploration work, including drilling plans, as anticipated, and the risk of an unplanned partial or full shutdown of the Company's mines and processing plants, whether voluntary or imposed, which would adversely impact the Company's revenues, financial condition and ability to meet its production and cost guidance and fund its capital programs and repay its indebtedness; the inherent risk that estimates of Mineral Reserves and Resources may not be accurate and accordingly that mine production will not be as estimated or predicted; planned exploration activities, may not result in the discovery of new Mineral Resources/definition of Mineral Resources and readers are cautioned that Mineral Resources that are not Mineral Reserves have no defined economic viability; gold, silver and base metal prices may decline or may be less than forecasted; fluctuations in currency exchange rates may increase costs of operations; operational and physical risks inherent in mining operations (including pit wall collapses, tailings storage facility failures, environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather) may result in unforeseen costs, shut downs, delays in production and drilling and exposure to liability; potential political and social risks involving Great Panther's operations in a foreign jurisdiction; the potential for unexpected costs and expenses or overruns; shortages in the ability to procure equipment and operating supplies without interruption; employee and contractor relations; relationships with, and claims by, local communities; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner on favourable terms; changes in laws, regulations and government practices in the jurisdictions in which the Company operates; legal restrictions related to mining; diminishing quantities or grades of mineral reserves as properties are mined operating or technical difficulties in mineral exploration, changes in project parameters as plans continue to be refined; the Company's inability to meet its production forecasts or to generate the anticipated cash flows from operations could result in the Company's inability to meet its scheduled debt payments when due or to meet financial covenants to which the Company is subject or to fund its exploration programs as planned; ability to maintain and renew agreements with local communities to support continued operations; there is no assurance that the Company will be able to identify or complete acquisition opportunities of, if completed, that such acquisitions will be accretive to the Company; the risk that incremental closure bond requirements with respect to the Company's Coricancha mine could have a material and adverse effect on the company's liquidity and could require additional financing to be raised; the Company's ability to raise additional financing as debt comes due and other risks and uncertainties, including those described in respect of Great Panther in its most recent annual information form, and management's discussion and analysis and material change reports filed with the Canadian Securities Administrators available at www.sedar.com and reports on Form 40-F and Form 6-K filed with the
There is no assurance that these forward-looking statements will prove accurate or that actual results will not vary materially from these forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
Contact:
Tel: 1 604 608 1766
Email: info@greatpanther.com
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