This morning the serial mediocrity of Great Panther Silver (GPR.to) was reaffirmed by this NR. It actually starts quite brightly with a sheep-catching headline “Great Panther drills 1,681g/t silver over 3.15m at Topia” cos that’s pretty darned good grading, isn’t it? And you can bet serial pumper Mexico “Oh No Definitely No Hidden Agenda” Mike will be oozing all over it for his flock later today, too, along with the delinquents GPR uses to pump their stock like Jonathan Lebed. But if you dare to look closer at today’s NR you see that this headline just aint all it’s cracked up to be.
Yeah, really. Here’s the drill results as presented in the NR with your author highlighting in red a couple of things:
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Width TW Au Ag Pb Zn
Hole Vein From To m m (g/t) (g/t) % %
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ST10-105 Don Benito 154.50 154.85 0.35 0.22 0.9 969 21.3 0.35
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ST10-108 Don Benito 33.20 33.33 0.13 0.08 0.318 121 2.79 0.17
Alto
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ST10-109 Don Benito 76.70 76.80 0.10 0.09 0.334 161 11.90 1.41
Alto
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ST10-111 San Jorge 66.48 66.60 0.12 0.08 0.184 287 0.34 0.39
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ST10-111 Cantarranas 78.18 78.32 0.14 0.10 0.790 1550 2.66 17.70
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ST10-112 San Jorge 67.00 70.15 3.15 0.67 0.88 1681 2.40 5.32
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ST10-112 Cantarranas 76.16 76.35 0.19 0.10 1.190 2820 3.29 4.04
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ST10-113 Cantarranas 69.65 69.90 0.25 0.18 0.390 1150 1.35 2.34
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ST10-117 San Gregorio 37.20 37.60 0.40 0.17 0.600 1030 3.31 10.10
Bajo
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ST10-117 San Gregorio 80.80 81.00 0.20 0.08 0.240 118 0.41 17.3
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ST10-118 San Gregorio 37.00 37.10 0.10 0.05 0.400 1700 8.03 8.54
Bajo
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ST10-118 San Gregorio 71.80 72.40 0.60 0.28 0.400 349 0.46 8.53
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ST10-118 San Gregorio 91.20 91.45 0.25 0.12 0.160 290 0.09 3.36
Alto
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ST10-119 San Gregorio 45.05 45.25 0.20 0.07 0.060 799 3.90 16.60
Bajo
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ST10-119 San Gregorio 109.55 110.70 1.15 0.38 0.173 442 0.72 8.05
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ST10-120 San Gregorio 108.60 109.05 0.45 0.15 0.030 973 0.37 0.80
Bajo
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ST10-120 San Gregorio 119.10 119.50 0.40 0.14 0.200 167 0.29 5.87
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ST10-122 El Rosario 62.45 63.05 0.60 0.20 0.050 2000 2.46 3.45
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ST10-123 El Rosario 148.60 149.00 0.40 0.07 2.720 27 0.00 0.02
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ST10-125 San Gregorio 95.35 96.65 1.30 0.74 0.533 370 0.38 5.28
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ST10-126 El Rosario 107.75 110.8 3.05 1.65 0.398 294 1.76 0.81
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ST10-127 El Desierto 30.12 30.22 0.10 0.05 11.8 1550 5.27 5.89
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ST10-133 La Prieta 296.95 297.75 0.80 0.51 1.250 34 5.12 3.49
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ST10-134 La Prieta 231.25 231.55 0.30 0.25 2.39 38 4.23 5.14
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So we see that although the drillcore did return 3.15m at 1,681 g/t Au, the true width of the vein (remembering that drills are done at angles to the way the vein runs) is just 0.67m!! This is much more along the lines of the Topia deposit, typified by skinny skinny veins of decent grade (plenty of evidence in that table above, as well as all the previous results published) that brings the pisspoor revenues and results we’ve come to expect from this overhyped company.
There’s a line that runs between “putting best foot forward” and “trying to con the sheep”. GPR has crossed that line so many times there’s little doubt as to the company promo tactics. Today’s NR is just another in the series.