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GR Silver Mining Discovers High-grade Shallow Precious Metals Mineralization at the Plomosas Project

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GR Silver Mining Discovers High-grade Shallow Precious Metals Mineralization at the Plomosas Project

 

 

 

 

Including 5.2 m at 4.52 g/t Au and 56 g/t Ag and 0.5 m at 30.09 g/t Au and 76 g/t Ag

 

GR Silver Mining Ltd. (TSX-V: GRSL), (OTCQB: GRSLF) (FRANKFURT: GPE)  announces drilling results from initial exploration carried out on new areas representing potential step outs from NI 43-101 mineral resources at both the San Juan/La Colorada and Plomosas Mine Areas. The gold and silver discoveries are in addition to the Company’s successful exploration programs reported earlier this year at the Loma Dorada, Trampolín and Corta Pico vein systems (see News Releases dated February 10, 2022 and February 17, 2022).

 

Highlights:

  • Exploration results focused on new areas of El Saltito, Las Cuevas and Las Teresas, as well as the previously reported Loma Dorada vein system
  • Presence of high-grade Au results, close to the surface, with potential to extend mineralization along strike from existing resource areas, including:
    • LDS21-13A: 5.2 m at 4.52 g/t Au and 56 g/t Ag, including
    • 0.6 m at 10.17 g/t Au and 340 g/t Ag
    • ESS21-04: 0.5 m at 30.09 g/t Au and 76 g/t Ag
    • CVS21-01A: 0.9 m at 0.38 g/t Au and 459 g/t Ag
    • o LTS21-CH-001: 3.5 m at 1.21 g/t Au and 67 g/t Ag, including
    • 0.4 m at 9.44 g/t Au and 394 g/t Ag
    • o CHS21-CH-004: 1.0 m at 4.98 g/t Au and 314 g/t Ag
  • Ag mineralization at Las Cuevas supports the upside potential for along strike extension of the Ag mineralized system up to 1.5 km to the NW of the NI 43-101 resource at the Plomosas Mine Area
  • Recent Au-Ag rich drill results indicate the presence of low sulphidation epithermal veining in multiple areas of the Plomosas Project, which will likely be the subject of additional drilling in 2022

 

GR Silver Mining Chairman and CEO, Eric Zaunscherb commented, “Our primary focus remains on delivering updated mineral resource estimates for the San Marcial and Plomosas Mine Areas in Q1|23. We cannot, however, ignore the rich potential of the wholly owned, 432 km2 Plomosas Project in its entirety, with several strong regional, northwest-trending structures that remain untested over a combined 75 km strike length. The results released today are an indicator of the potential of the project’s pipeline targets, which we will reveal going forward.”

 

Loma Dorada Drill Program

 

The latest drill results from the 1 km along strike extension to the north of the San Juan/La Colorada vein system, intersected high-grade Au-Ag typical of epithermal veins with colloform banded quartz textures within the predominant NW trend (Figure 1). This structural trend extends to the north of the San Juan/La Colorada NI 43-101 mineral resource and is part of the NW to N-S trend of Loma Dorada. There is evidence that structures in this area intersect defining a ‘flower’ structural pattern with the potential to develop ore shoots at depth. The shallow results, such as those obtained from drill hole LDS21-13A, which intersected 5.2 m at 4.52 g/t Au and 56 g/t Ag, including 1.3 m at 10.17 g/t Au and 340 g/t Ag (Table 1), encourage the Company to continue drilling for potential resource delineation.

 

El Saltito Drill Program

 

Shallow drilling results revealed narrow high-grade Au-rich epithermal veining at the southern extension of the 1.5 km long El Saltito vein system (Figure 1). The high-grade gold intercept of 0.5 m at 30.09 g/t Au from drill hole ESS21-04 (Table 1), is the most SE hole in the area, indicating the potential for additional high-grade Au mineralization further to the SE. The system is therefore open to the south, along a structural extension that is exposed/mapped on surface for at least another 500 m.

 

Las Cuevas – New Discovery

 

The Las Cuevas vein system is located 1.5 km along strike to the N-NW of the NI 43-101 resource at the Plomosas Mine Area (Figure 1) and represents a new discovery of Ag-Au mineralization. Shallow drilling and channel sampling (Table 2) have been successful in discovering high-grade Au and Ag mineralization at this potential northern extension of the resource area. The mineralization coincides with a historical high-chargeability geophysical anomaly, and also with a high aeromagnetic anomaly identified in a ground geophysical survey. This drilling by GR Silver Mining is the first ever on the Las Cuevas target and, combined with encouraging Ag-Au channel results, provides justification for a follow up surface drilling program in the near future, aiming to integrate Las Cuevas with the existing resource area

 

Las Teresas – New Discovery

 

Exploration by GR Silver Mining in 2021 and early 2022 on the Las Teresas vein system, approximately 2 km to the NW of the Loma Dorada mineralization, has been successful in identifying potential extensions to the Au-Ag low sulphidation vein-style mineralization. Shallow drilling and surface channels have identified mineralized zones with Au-Ag anomalies that require follow up drilling.

 

Las Chorreras – New Discovery

 

Las Chorreras is located at the western end of Plomosas concession. Historical channel sampling in the area outlined Au-Ag anomalies on a 1 km long prominent hill with intense argillic alteration. Recent channel sampling by GR Silver Mining confirmed the discovery of high-grade Au and Ag mineralization associated with the intense advanced argillic alteration zone. This mineralization contains pyrite, galena and sphalerite, both disseminated and in irregular stringers, hosted within andesitic “block and ash” units in contact with dioritic intrusives and rhyolitic dykes. The next stage of exploration at this new target will involve shallow drilling to confirm the 3-D extension of mineralization below the positive channel sample results.

 

Table 1:   Plomosas Project New Vein Systems – Drill Results

 

Drill Hole From (m) To (m) Apparent width (m) True

width (m)

Ag g/t Au g/t  

Comments

LDS21-08 13.7 14.3 0.6 0.5 65 0.34 Loma Dorada
LDS21-09 66.3 68.2 1.9 1.7 8 2.55
LDS21-10 135.8 136.5 0.7 0.6 165 2.76
LDS21-11 na
LDS21-12 213.4 213.7 0.3 0.3 12 0.52
LDS21-13A 103.5 108.7 5.2 4.3 56 4.52
 including 1.5 2.8 1.3 1.1 340 10.17
LDS21-14 60.0 61.0 1.0 1.0 na 1.46
ESS21-01A 113.4 118.4 5.0 3.8 3 0.41 Includes 2.2m mine void
135.8 136.9 1.1 0.8 14 1.82 El Saltito
152.2 153.3 1.1 0.8 5 1.51
238.2 244.4 6.2 4.8 3 0.40
ESS21-02 na
ESS21-03 145.2 146.3 1.1 1.1 7 0.26
ESS21-04 203.5 204.0 0.5 0.5 76 30.09
CVSP21-01A 0.0 6.6 6.6 6.4 78 0.17 Las Cuevas
 including 3.3 4.2 0.9 0.9 459 0.38
CVSP21-02 na
CVSP22-01A na
CVSP22-02 na
CVSP22-04A 0.0 2.0 2.0 1.9 15 na
LTSP22-001 na Las Teresas
LTSP22-002 10.6 11.0 0.4 0.4 29 1.54
LTSP22-003 4.0 7.7 3.7 3.5 34 0.02
LTSP22-004 na
LTSP22-005 na
LTSP22-006 0.0 6.7 6.7 6.3 41 0.40 0-6.4m ~55% recovery
 including 6.4 6.7 0.3 0.3 79 5.28
LTSP22-007 4.8 9.4 4.6 4.3 5 0.68
“na” = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.

 

Table 2:   Plomosas Project New Vein Systems – Channel Results

 

Channel Number From (m) To (m) Apparent width (m) True

width (m)

Ag g/t Au g/t  

Comments

CHS21-CH-004 2.0 3.0 1.0 1.0 314 4.98 Las Chorreras
CHS21-CH-005 na
CHS21-CH-006 0.0 0.3 0.3 0.3 15 0.06
CHS21-CH-007 1.0 2.0 1.0 0.8 15 0.17
CHS21-CH-013 na
CHS21-CH-017 na
CVS21-CH-001 0.0 4.0 4.0 3.5 371 0.18 Las Cuevas
including 1.4 2.8 1.4 1.2 680 0.20
CVS21-CH-003 na
LTS21-CH-001 0.0 3.5 3.5 3.4 67 1.21 Las Teresas
including 0.0 0.4 0.4 0.4 394 9.44
“na” = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.

 

Table 3:   Plomosas Project New Vein Systems – Surface Drill Hole Details

 

Drill Hole East (m) North (m) RL (m) Dip (˚) Azimuth (˚) Depth (m) Results Status
LDS21-08 447585 2551619 921 -45 260 108.5 Received
LDS21-09 447833 2551765 905 -50 260 165 Received
LDS21-10 447433 2551536 913 -50 250 243 Received
LDS21-11 447405 2551326 894 -50 255 126 Received
LDS21-12 448095 2551451 899 -45 260 252 Received
LDS21-13A 447531 2551099 916 -75 250 150 Received
LDS21-14 447896 2552645 670 -45 250 165 Received
ESS21-01A 446309 2551001 723 -60 240 300 Received
ESS21-02 446283 2551181 757 -70 245 171 Received
ESS21-03 446714 2550276 699 -55 270 259 Received
ESS21-04 446701 2550049 764 -50 250 252 Received
CVSP21-01A 450783 2553187 1010 -30 265 10.85 Received
CVSP21-02 450632 2553561 840 -25 230 8.6 Received
CVSP22-01A 450648 2553546 843 -40 150 16.2 Received
CVSP22-02 451096 2553562 950 -45 95 6.5 Received
CVSP22-04A 451224 2553430 1020 -40 95 8.2 Received
LTSP22-001 446859 2554473 912 -55 235 9 Received
LTSP22-002 446882 2554472 886 -45 265 14 Received
LTSP22-003 446790 2554527 883 -45 200 15 Received
LTSP22-004 446774 2554540 907 -65 210 17 Received
LTSP22-005 446719 2554618 934 -50 230 16 Received
LTSP22-006 446716 2554577 930 -60 220 11 Received
LTSP22-007 446644 2554912 906 -55 285 17 Received
Note: all holes drilled from underground, targeting unmined areas where the Company previously adopted zero values on unsampled areas in the 2021 resource estimation, as well as areas with insufficient drilling and recently discovered new mineralization requiring additional data for geological/mineralization modelling.

 

Qualified Person

 

The scientific and technical data contained in this News Release related to the exploration program were reviewed and/or prepared under the supervision of Marcio Fonseca, P. Geo. He has approved the disclosure herein.

 

About GR Silver Mining Ltd.

 

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km2 of concessions containing several structural corridors totaling over 75 km in strike length.

 

 


Figure 1: Location of New Vein System Discoveries – Plomosas Project (CNW Group/GR Silver Mining Ltd.)

 

Posted June 22, 2022

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