palmarejo silver drills 31 m of 251 gt ag at

Palmarejo Silver drills 31 m of 251 g/t Ag at Guadalupe


2007-10-10 10:24 ET - News Release

Mr. James Crombie reports

PALMAREJO SILVER AND GOLD ANNOUNCES FURTHER DRILL RESULTS FROM THE GUADALUPE PROJECT

Palmarejo Silver and Gold Corp. has provided the results from the continuing reverse circulation (RC) and diamond drill program at its Guadalupe project, 7.0 kilometres southeast of the Palmarejo project, in the Temoris district, Chihuahua, Mexico.

The Guadalupe project consists of a series of northeast-dipping quartz veins that have been traced for more than 2,000 metres along strike. There are three main prospects located along the Guadalupe structure known from north to south as Guadalupe Norte, Guadalupe and Las Animas. A fourth prospect, El Salto, has been identified by surface mapping as a link structure between Las Animas and Guadalupe. El Salto has only been tested by near surface drilling.

Twenty-three holes have been drilled for 2,042 metres of RC and 3,370 metres of diamond core (including three core continuations of RC and one wedge hole), since the previous drilling update in Stockwatch on Sept. 13, 2007. Some of the better results from recent drilling are reported below as down hole intercepts. Where there is a difference between down hole and true width intercepts these are noted in the table of full assay results.


TGDH150D: 17.50 metres at 0.91 gram per tonne (g/t) Au and 52 g/t Ag (1.8 g/t AuEq)

TGDH156D: 31.00 metres at 3.59 g/t Au and 251 g/t Ag (7.8 g/t AuEq)

TGDH159D: 11.00 metres at 2.07 g/t Au and 37 g/t Ag (2.7 g/t AuEq)

TGDH161D: 9.00 metres at 0.87 g/t Au and 133 g/t Ag (3.1 g/t AuEq)

TGDH163D: 14.70 metres at 0.99 g/t Au and 49 g/t Ag (1.8 g/t AuEq)

TGDH164D: 4.10 metres at 1.72 g/t Au and 157 g/t Ag (4.3 g/t AuEq)

TGDH165D: 4.20 metres at 11.63 g/t Au and 71 g/t Ag (12.8 g/t AuEq) and 1.60 metres at 47.52 g/t Au and 402 g/t Ag (54.2 g/t AuEq)

TGDH166D: 7.00 metres at 1.63 g/t Au and 184 g/t Ag (4.7 g/t AuEq) and 40.50 metres at 1.39 g/t Au and 66 g/t Ag (2.5 g/t AuEq)

TGDH184: 6.09 metres at 0.26 g/t Au and 481 g/t Ag (8.3 g/t AuEq)