Share on StockTwits
Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Newly Identified Veins at Mexico Project 'Highlight Exploration Upside on Multiple Fronts'

Source: Streetwise Reports


March 12, 2019 ( Newswire) A Canaccord Genuity report reviewed and discussed these drill results and their implications.

In a March 5 research note, Canaccord Genuity analyst Kevin MacKenzie reported that MAG Silver Corp.'s (MAG:TSX; MAG:NYSE.MKT) just released drill results from Juanicipio revealed high-grade intercepts that "highlight exploration upside on multiple fronts."

In its recent drilling of 48 holes covering 46,060 meters (46,060m), the company, in general, discovered two mineralized veins and extended existing mineralization at the large property in Mexico.

Specifically, one of the newly identified veins, the Venadas, with its northeast orientation, sits between but runs crosswise to the northwest-traversing Valdecanas and Juanicipio veins. MacKenzie highlighted that "the negligible reported base metal grades and vein style/elevation comparisons to that of the Valdecanas vein suggest that drilling to date has only just tested the top of a potentially more expansive mineral system to depth."

This bodes well for future resource expansion and could "provide a development link" to the Juanicipio vein that was excluded from the 2017 updated preliminary economic assessment.

The second recently discovered vein, the Pre-Anticipada, is located about 50–100m further into the hanging wall from the subparallel Anticipada vein, MacKenzie described. Pre-Anticipada was intersected by holes targeting the Valdecanas vein Deep zone. Highlight assays from the new vein included 472 grams per ton (472 g/t) silver (Ag) over 3.2m, 768 g/t Ag over 1.80m and 1,256 g/t Ag over 1m.

As far as mineralization extension, stepout drilling at Valdecanas' Deep East and Deep West zones extended high-grade mineralization to depth, relayed MacKenzie. Notable intercepts included 1,297 g/t silver equivalent (Ag eq) over 6m, 637 g/t Ag eq over 13m and 535 g/t Ag eq over 10m. "The higher precious metal grades observed at depth within the Deep zone are thought to be a later overprint and the product of a stacked/fluctuating boiling horizon," he added.

The analyst concluded, "Overall, the results of the release continue to highlight the significant exploration upside associated with the Juanicipio project and future potential to materially expand the project's overall resource base."

Drilling continues at Juanicipio, with one directional rig dedicated now to the Valdecanas vein and two conventional rigs focused on other targets there. The next big catalyst for the stock, however, MacKenzie indicated, is a formal Juanicipio construction decision by MAG's joint venture partner, Fresnillo.

Canaccord Genuity has a Speculative Buy rating and a CA$21 per share target price on MAG Silver, whose stock is trading at around CA$13.90 per share.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: MAG Silver. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Canaccord Genuity, MAG Silver Corp., March 5, 2019

Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst's personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst's coverage universe and (ii) no part of the authoring analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research.

Required Company-Specific Disclosures (as of date of this publication):

Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from MAG Silver Corp. in the next three months.

Up-to-date disclosures may be obtained at this website.

Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources - investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

Get News on Mining Stocks

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy:

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner