Silver Drops, Extorre Strikes High Grade

(12/14/2010)
"Extorre Gold Mines announced high-grade assay results from its ongoing drill program at its Cerro Moro Project in the Santa Cruz Province of Argentina. Extorre reported the receipt of results from the discovery diamond drilling program on the Gabriela, Escondida, Martina and Loma Escondida zones of Cerro Moro. The company stated that 12 drill holes returned significant results, highlighted by the intersection of 200.9 g/t gold and 8,785 g/t silver over 0.39m at hole MD1002 of Gabriela. Further, Extorre reported results from 33 drill holes of the infill drilling program at the Loma Escondida and Gabriela zones, comprised of 25 significant results, including 90.4 g/t gold and 6,344 g/t silver over 0.50m.

TD Newcrest Analyst Daniel Earle characterized the results as further demonstrating the high-grade and increasingly silver-rich nature of mineralization at Cerro Moro. We expect the results to be incorporated in an updated resource estimate and PFS anticipated in Q211. . .Shares of XG bucked the trend of lower silver stocks, climbing as much as 6.4% to CAD$7.34 this morning."

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