Discovery Of New High Grade Silver Zone At Morococha Mine

VANCOUVER, BC - Pan American Silver Corp. reported high grade drill results from the newly discovered Morro Solar vein at its Morococha mine in Peru.
The Morro Solar vein is located in the Codiciada mining zone, approximately 1.7 km north west of the Central shaft. Access to the uppermost part of the vein is from a small surface ramp, but the main part of the vein will be accessed by the new Sierra Nevada ramp which will be only 100 meters away and is being driven down from the surface to the 1,700 level. The close proximity of the NE-SW striking Morro Solar vein to the Sierra Nevada ramp will allow exploration and mining access over a vertical extension of more than 500 meters and will expedite its inclusion in Morococha's proven and probable reserves and near term mining plan.
To date, exploration activities at Morro Solar consist of 26 surface and 4 underground diamond drill holes. Selected results include:
• Drill Hole MOR-07-19, which intersected 5.10 meters of 949 grams per tonne of silver, with 0.32% copper, 1.19% lead and 9.77% zinc.
• Drill Hole MOR-08-28, which intersected 1.37 meters of 800 grams per tonne of silver, with 0.24% copper, 1.26% lead and 3.08% zinc.
• Drill Hole MOR-07-18, which intersected 0.85 meters of 1,094 grams per tonne of silver, with 0.92% copper, 0.92% lead and 5.35% zinc.
The Morro Solar vein was identified during surface exploration and has been mapped over a continuous distance of more than 2.5 km along strike. To date, the exploration drill program has covered only 800 meters along strike and 150 meters down dip of this major structure. The vein shows the typical characteristics of the district with large high grade ore shoots separated by lower grade intervals. In addition to Morro Solar, exploration drilling has identified at least 10 additional parallel veins in the area.
Commenting on the new discovery, Michael Steinmann, Executive V.P. Geology and Exploration said: "The discovery of the Morro Solar vein is another example of the outstanding exploration potential at Morococha, where we have continuously added reserves since we purchased the mine in 2004. In fact, we have added 36.5 million ounces of silver to Morococha's reserves over the past 4 years. It will require substantial additional drilling to fully define this large high grade structure, but Morro Solar and the related parallel veins have the potential to be transformational for Morococha."
The company's address is 100 University Ave., 9th Floor, North Tower, Toronto, ON M5J 2Y1.