Gatos Silver Continues to Intercept High Grade Mineralization in South-East Deep… – Press Release

VANCOUVER, British Columbia, July 18, 2023 (GLOBE NEWSWIRE) — Gatos Silver, Inc. GATO (“Gatos Silver” or the “Company”) today provided a Q2 2023 update on the drilling and exploration programs in the Los Gatos district (“LGD”) in Mexico, including details of additional intercepts of high grade mineralization in the South-East Deeps (“SE Deeps”) zone of its 70%-owned Cerro Los Gatos (“CLG”) mine that could provide new mineral resources and reserves to extend the mine life.

“Our continued drilling success shows why we are so excited about the future for this district,” said Dale Andres, CEO of Gatos Silver. “Our next mineral resource and reserve update is nearing completion and will be a first step in extending the mine life and showing the potential scale of SE Deeps. With six surface drill rigs primarily focused on defining the SE Deeps, we are continuing to intercept strong widths and grades of silver, zinc, lead, gold and copper as we infill that zone. In addition, the foundational work we are doing this year with our greenfields program is deepening our understanding of the district and enabling us to sharpen our focus on priority areas where we might find the next CLG.”

Q2 2023 Highlights Continue to Demonstrate Excellent Mine Life Extension Potential at CLG

  • The Company’s 2023 mineral resource and reserve update, including a new life of mine plan, is progressing well and on track to be completed in the third quarter
  • Resource expansion drilling in the SE Deeps zone of CLG continued to intercept high grade mineralization below and north of the existing mineral resource (see Table 1 for complete intercept details)
    • Drilling highlights include hole SE-531 that intercepted 4.0 meters (estimated 3.5 meters true width) at 231 g/t silver, 4.86% zinc, 3.98% lead and 0.38% copper, hole SE-520 that intercepted 3.0 meters (estimated 2.7 meters true width) at 212 g/t silver, 17.33% zinc, 3.49% lead, 0.45 g/t gold and 0.92% copper and hole SE-515 that intercepted 3.5 meters…