Successful Phase 1 Deer Trail Drilling Results

VANCOUVER - MAG Silver Corp. reported results from Phase 1 drilling on its Deer Trail Carbonate Replacement Deposit (CRD) Project in central Utah. Phase 1 saw the completion of three holes (3,927 meters (“m”)) drilled from surface spaced along a 1.5 km long corridor. Phase 1 successfully fulfilled all three of its planned objectives by: Confirming the presence of a thick section of more favorable carbonate host rocks (the predicted “Redwall Limestone” or “Redwall”) below the Deer Trail Mine; confirming and projecting two suspected mineralization feeder structures to depth; and intercepting high-grade mineralization related to those structures in host rocks below what was historically known.

All three holes bottomed within multi-phase porphyritic granitoids affected by later sericite-pyrite alteration with modest Copper and Silver mineralization along their upper contacts (including 0.86m grading 1.7% Copper and 64 g/t Silver in hole DT20-01). The overall features suggest that this mineralization was sourced from a later intrusive phase.  

The principal goal of Phase 1 drilling was to locate the Redwall Limestone, a thick, clean limestone unit hypothesized to be a more favorable host rock than the thinly layered Callville Formation, which hosts the deepest historically known mineralization in the mine area. The likely presence of the Redwall was indicated by regional occurrences and all three holes cut 215 m - 320 m of highly altered Redwall before bottoming in granitoid intrusions. All three holes cut high-grade sulphide mineralization in/near projected feeder structures within the Callville before reaching the Redwall.   DT21-02 intercepted 0.50 m (core length) of sulphides grading 426 grams per tonne (“g/t”) (12.4 ounces per ton (“opt”) Silver, 6.5 g/t (0.2 opt) Gold, and 17.1% Lead plus Zinc within a 3.5 m breccia zone along the Red Fissure Fault; principal feeder to the historic Deer Trail Manto. DT21-03 cut 1.90 m (core length) of manto-style (bedding parallel) sulphides grading 952 g/t Silver (27.8 opt), 38.2 g/t (1.1 opt) Gold, and 9.2% Lead plus Zinc close to the Wet Fault, a principal feeder to the 3400 Area manto zone. DT20-01 was designed simply to locate the Redwall at shallow depth, but before reaching the Redwall, it cut a ~20 m (core length) feeder zone in the Callville containing a 2.30 m (core length) mineralized strand that reported 1.0 g/t Gold and 101 g/t Silver.

Phase 2 drilling in August. The first hole of Phase 2 is an offset of DT21-03 designed to test the Wet fault 150 m deeper where it cuts through the Redwall.

“We are very pleased to have our first holes in this promising, district-scale play satisfy all three of our initial objectives, including finding high-grade, silver and gold-rich mineralization just above what should be excellent host rocks,” said George Paspalas, President and CEO. “These initial results validate our exploration model and the high silver grades at depth seem to indicate very large-scale zoning, which strongly reinforces our belief that the Deer Trail system is extensive and well mineralized. We eagerly look forward to the results of the ongoing Phase 2 drilling.”