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Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin

The miner has expanded beyond its coreoperations in Mexico by acquiring the past-producing Coricancha project in Peru
Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin
Great Panther's underground workers..

Brien Lundin, editor of the Gold Newsletter, has taken another look at producer Great Panther Silver Ltd (TSE:GPR) and repeated a 'buy' stance.

The miner recently decided to expand beyond its core silver mining operations in Mexico by acquiring the past-producing Coricancha project in Peru, he notes.

The company previously had Coricancha under option from mid-2015 to mid-2016.

During then, the firm completed a 33-hole drill program, with highlight assays including 0.53 metres of 10.46 grams per tonne (g/t) gold, 388 g/t silver, 1.64% copper, 0.53% lead and 2.86% lead.

Lundin notes that these intersections are similar to those that Great Panther encountered at its Mexican assets, which, he notes, are currently operating on the "very edge of profitability", but will turn "lucrative" quickly once silver prices go north.

Coricancha adds "a substantial amount of blue sky" in the meantime, he adds.

Earlier this month, Great Panther reassured shareholders that the mine in question -  Coricancha - suffered no damage from a recent earthquake.

There was an earthquake in the central region of Peru with a magnitude of 4.6, as reported by the US Geological Survey, but happily, after inspecting the mines, tailing facilities and processing plant, there appears to be no damage.

The CMC is currently on care and maintenance.

Great Panther shares closed yesterday in New York at US$1.24 each.

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