GREAT PANTHER RESOURCES LIMITED announce that Wardrop Engineering of Vancouver has delivered an update to the ongoing mineral resource development at the Company’s 100% owned Topia Silver-Gold-Lead-Zinc Mine in Durango, Mexico. The 2008 mineral resource estimate comprises Measured & Indicated Mineral Resources of 153,373 tonnes at 501g/t Ag, 0.95g/t Au, 5.38% Pb and 4.85% Zn as well as 98,083 tonnes of 468g/t Ag, 0.97g/t Au, 3.59% Pb and 2.95% Zn in the Inferred category.
The 2008 resource estimate has increased over that of 2006, even after considering the last two years of production. Contained silver is up 11%, gold 25%, and lead by 6% while zinc stayed the same. At the current production rate of approximately 36,000 tonnes per year, management expects the resources to support a mine life of at least seven more years. This “rolling resource” is typical for underground mines as it is often not cost-effective to define a large resource/reserve in advance of mining.
The new estimate provides an update for the Argentina vein only, while the estimate delivered by Wardrop in 2006 for the other veins on the property remains unchanged.