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GR Silver Mining Intersects Bonanza-grade Gold Veins at Depth in the Plomosas Mine Area 0.6 m at 40.2 g/t Au and 0.25 m at 64.5 g/t Au

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GR Silver Mining Intersects Bonanza-grade Gold Veins at Depth in the Plomosas Mine Area 0.6 m at 40.2 g/t Au and 0.25 m at 64.5 g/t Au

 

 

 

 

 

GR Silver Mining Ltd.  (TSX-V: GRSL) (OTCQB: GRSLF) (FRA: GPE) is pleased to announce additional underground drilling results in the Plomosas Mine Area as part of the 2022 infill and exploratory drilling program at the Company’s wholly-owned Plomosas Project in Sinaloa, Mexico.

 

The drilling had the following objectives:

  • Drilling at specific locations where recent geological modelling has indicated the presence of high-grade precious metal epithermal veins, which demonstrate the existence of high-grade mineralization below existing underground workings;
  • Define the geometry and boundaries of silver– gold mineralization and detail participation of precious metals mineralization in the upcoming resource estimation update; and
  • Confirm presence of high-grade gold epithermal veins in the hanging wall and footwall of the main mineralized zone in new areas of the historic underground mine.

 

The 35 drill holes being reported in this announcement were all drilled from within the historic Plomosas Mine Area, mainly below the 900 level, and represent the penultimate batch of drill results to be incorporated into the resource estimation at the Plomosas Mine Area.

 

Gold highlights from the underground drilling results (Down hole widths):

  • PLIP22-30:   14.1 m at 2.67 g/t Au and 69 g/t Ag (353 g/t AgEq1)
    including:  0.6 m at 40.18 g/t Au and 219 g/t Ag (4,075 g/t AgEq)
  • PLI22-52:     9.9 m at 1.91 g/t Au, including 0.25 m at 64.50 g/t Au

 

In addition, the drilling results continue to reveal attractive high-grade silver-polymetallic mineralization in unmined areas at the lower levels of the historic underground mine.  Drill hole results such as those highlighted below, continue to demonstrate the potential to incorporate wide and attractive polymetallic results into the upcoming resource estimation.

  • PLIP22-29:   22.0 m at 1.01 g/t Au, 55 g/t Ag, 3.1% Pb, 4.8% Zn and 0.2% Cu (441 g/t AgEq)
    including:  3.0 m at 5.42 g/t Au, 299 g/t Ag, 1.8% Pb, 9.7% Zn and 0.6% Cu (1,291 g/t AgEq)
  • PLIP22-35: 18.5 m at 1.08 g/t Au, 20 g/t Ag, 0.5% Pb, 1.5% Zn and 0.3% Cu (221 g/t AgEq)
    including: 0.8 m at 6.09 g/t Au, 46 g/t Ag, 2.7% Pb, 8.4% Zn and 0.8% Cu (1,105 g/t AgEq)
  • PLIP22-42:   3.1 m at 1.97 g/t Au, 50 g/t Ag, 19.7% Pb, 15.6% Zn and 0.3% Cu (1,422 g/t AgEq)

 

The Plomosas Mine Area drilling program has been completed and one batch of assays is pending to be processed and incorporated into the resource estimation, expected to be published later in Q1|2023. The program has achieved its objectives of replacing some specific areas where zero values were adopted in the previous resource estimation, but also, more importantly, defining the presence of high-grade gold and silver zones which form part of a distinct mineralizing event, hosted within the same structure as well as the footwall and hanging wall of the Plomosas Breccia. These results provide vital data to be introduced in the resource estimation, aiming to increase the percentage participation of precious metals in the Plomosas Mine Area resource update. At deeper levels in the historic mine, the presence of cross-cutting structures is common intersecting the main mineralized zone, creating pod-shaped geometries with the presence of multiple veinlets, defining wide zones (up to 20 metres) carrying gold and silver mineralization. High-grade gold hosted by narrow epithermal veins returned values such as 0.6 m at 40.2 g/t Au from hole PLIP22-30 and 0.25 m at 64.5 g/t Au from hole PLI22-52, which are part of a much wider mineralized system.

 

GR Silver Mining Chairman and CEO, Eric Zaunscherb comments, “The previous resource estimate for the Plomosas Mine Area incorporated many historical drill holes that were selectively sampled for precious metals mineralization. The extensive surgical infill drill program conducted by GR Silver Mining provided ‘proof of concept’, successfully replacing many historical drill holes in the resource model. In the process, the Company’s geologists have opportunely defined incremental high-grade precious metal mineralization that was previously unrecognized. These facts suggest the potential for an increase in grade and content in the Plomosas Mine Area in the highly anticipated resource update.”

 

GR Silver Mining completed the infill drilling program at the Plomosas Mine Area at the end of 2022 and final assays are being received and processed. This program added approximately 11,750 metres of core drilling (186 holes) in specific areas of the existing NI 43-101 resource block model, achieving the key objectives and supporting more detailed geological mineralization modelling, while also enhancing the silver and gold grade distribution in the upcoming resource estimate.

 

The highlights of the drill holes reported in this news release are summarized as follows:

 

Table 1:  Plomosas Mine Area – Latest Results Highlights

 

Drill Hole From

(m)

To

(m)

Apparent

width

(m)

True

width

(m)

Ag g/t Au g/t Pb % Zn % Cu % AgEq g/t
PLI22-32 27.1 36.2 9.1 7.5 65 0.37 0.4 0.9 na 147
including 31.2 34.6 3.4 2.6 130 0.69 0.4 1.1 na 249
PLI22-39 0.0 8.0 8.0 7.9 50 0.16 4.3 2.6 0.2 314
including 6.7 8.0 1.3 0.8 118 0.66 16.2 5.3 0.9 950
PLI22-49 84.7 119.6 34.9 26.7 6 0.38 0.1 0.3 0.2 73
including 117.1 118.3 1.2 0.9 29 4.48 0.5 1.1 0.3 541
including 118.0 118.3 0.3 0.3 78 11.30 1.4 2.6 0.7 1,342
PLI22-50 9.6 9.9 0.3 0.2 19 0.84 1.1 13.0 0.2 647
PLI22-52 106.6 116.5 9.9 8.1 2 1.91 na na na 182
including 109.8 110.1 0.3 0.2 33 64.50 na na na 6,033
PLI22-54 158.0 160.1 2.1 1.9 11 0.94 0.2 0.1 0.1 120
PLI22-55 54.3 57.5 3.2 2.6 3 0.09 0.8 1.8 na 105
PLI22-56 0.8 13.5 12.7 9.7 19 0.61 0.8 0.9 0.3 172
including 13.0 13.5 0.5 0.4 175 15.50 4.3 13.3 3.2 2,604
PLI22-57 258.1 264.1 6.0 4.6 34 0.03 na na na 37
PLI22-58 79.7 96.7 17.0 16.0 20 0.25 2.4 2.8 na 225
including 89.1 90.5 1.4 1.2 33 0.63 6.5 7.5 na 569
and 92.5 96.7 4.2 3.9 30 0.51 5.7 5.3 0.1 451
PLIP22-26 No significant intervals
PLIP22-27 0.3 6.6 6.3 6.3 42 0.03 0.1 0.2 na 53
including 6.3 6.6 0.3 0.2 521 0.26 0.2 0.4 na 566
PLIP22-29 0.0 22.0 22.0 21.7 55 1.01 3.1 4.8 0.2 441
including 0.0 3.0 3.0 2.8 299 5.42 1.8 9.7 0.6 1,291
PLIP22-30 0.0 14.1 14.1 14.1 69 2.67 0.1 0.2 0.2 353
including 0.0 1.6 1.6 1.6 227 5.39 0.3 0.6 0.4 808
including 4.7 5.3 0.6 0.6 219 40.18 0.3 na 1.0 4,075
PLIP22-31 0.0 3.0 3.0 2.5 22 0.04 na 0.1 na 31
PLIP22-32 11.9 14.0 2.1 1.3 9 0.16 2.1 3.0 0.1 213
PLIP22-33 No significant intervals
PLIP22-34 No significant intervals
PLIP22-35 0.0 18.5 18.5 14.2 20 1.08 0.5 1.5 0.3 221
including 3.2 3.4 0.2 0.2 44 1.10 10.4 15.3 0.3 1,059
and 14.2 15.0 0.8 0.8 46 6.09 2.7 8.4 0.8 1,105
PLIP22-36 0.0 1.3 1.3 0.5 17 0.41 2.8 3.4 0.1 272
PLIP22-37 No significant intervals
PLIP22-38 No significant intervals
PLIP22-41 0.0 12.0 12.0 9.2 27 0.07 1.3 3.4 0.2 224
including 5.7 8.0 2.3 1.8 51 0.05 4.1 10.4 0.4 622
including 7.1 7.4 0.3 0.3 120 0.09 15.7 14.3 0.7 1,204
PLIP22-42 0.0 10.0 10.0 8.3 30 0.76 7.9 7.9 0.3 669
including 2.9 4.2 1.3 0.9 49 0.41 7.8 10.9 1.1 846
and 5.5 8.6 3.1 2.7 50 1.97 19.7 15.6 0.3 1,422
PLIP22-45 0.0 5.4 5.4 4.3 19 0.36 1.2 1.7 0.1 160
PLIP22-63 No significant intervals
PLIP22-65 0.0 5.3 5.3 5.3 20 1.07 0.2 0.5 0.2 170
PLIP22-67 No significant intervals
PLIP22-68 6.8 12.7 5.9 5.1 15 0.02 0.9 0.8 0.1 81
including 9.8 10.1 0.3 0.2 46 0.28 17.2 16.3 0.5 1,244
PLIP22-69 No significant intervals
PLIP22-70 0.0 1.9 1.9 1.9 23 2.31 1.9 3.8 na 437
PLIP22-77 No significant intervals
PLIP22-81 4.0 15.8 11.8 11.1 57 0.19 1.1 1.0 0.1 152
including 5.8 6.2 0.4 0.4 552 0.32 1.2 2.0 0.1 705
PLIP22-83 1.0 2.7 1.7 1.7 21 0.10 0.7 1.6 na 118
PLIP22-91 0.0 2.9 2.9 2.9 28 0.35 4.0 2.7 0.1 290

 

Numbers may be rounded. Results are uncut and undiluted.  “na” = no significant result
* AgEq calculations using US$20.00/oz Ag, US$1,600/oz Au, US$0.90/lb Pb, US$1.10/lb Zn and US$3.00/lb Cu, with metallurgical recoveries of Ag – 74%, Au – 86%, Pb – 69%, Zn –75% and Cu – 80%. AgEq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb price x Pb recovery) + (Zn grade x Zn price x Zn recovery) + (Cu grade x Cu price x Cu recovery))/(Ag price x Ag recovery)

 

Table 2:   Plomosas Mine Area Latest Drill Hole Details

 

Drill Hole East (m) North (m) RL (m) Dip (˚) Azimuth
(˚)
Depth (m) Drill Hole
Type
PLI22-32 451,111 2,551,731 730 -20 120 106.8 Underground
PLI22-39 451,202 2,551,974 769 -22 94 68.3 Underground
PLI22-49 450,908 2,551,874 679 -30 45 185.0 Underground
PLI22-50 451,058 2,551,909 677 -40 90 64.5 Underground
PLI22-52 450,907 2,551,875 679 -25 20 243.15 Underground
PLI22-54 450,906 2,551,875 679 -35 345 265.5 Underground
PLI22-55 451,040 2,551,676 739 -50 85 120.0 Underground
PLI22-56 451,109 2,551,853 716 30 280 120.0 Underground
PLI22-57 450,904 2,551,874 679 -50 315 290.0 Underground
PLI22-58 450,910 2,551,874 679 -35 80 151.5 Underground
PLIP22-26 451,002 2,551,893 688 -55 265 14.73 Underground
PLIP22-27 451,215 2,551,655 769 0 270 10.0 Underground
PLIP22-29 451,033 2,551,888 680 -68 130 22.0 Underground
PLIP22-30 451,012 2,551,897 679 -45 336 14.1 Underground
PLIP22-31 451,219 2,551,628 769 -5 236 11.8 Underground
PLIP22-32 451,217 2,551,843 767 -38 80 16.0 Underground
PLIP22-33 451,004 2,551,897 689 0 0 14.5 Underground
PLIP22-34 451,054 2,551,913 677 -45 26 17.0 Underground
PLIP22-35 451,038 2,551,898 677 -30 320 19.2 Underground
PLIP22-36 451,197 2,551,887 763 -40 90 4.5 Underground
PLIP22-37 451,220 2,551,784 768 -30 80 15.0 Underground
PLIP22-38 451,209 2,551,807 780 -40 60 9.0 Underground
PLIP22-41 451,126 2,551,923 722 -27 65 19.1 Underground
PLIP22-42 451,118 2,551,885 717 -60 118 20.0 Underground
PLIP22-45 451,131 2,551,847 727 -22 80 21.5 Underground
PLIP22-63 451,277 2,552,030 790 3 349 12.6 Underground
PLIP22-65 451,246 2,551,971 786 -60 115 6.25 Underground
PLIP22-67 451,173 2,551,851 728 -24 99 44.3 Underground
PLIP22-68 451,250 2,551,767 783 -60 85 15.0 Underground
PLIP22-69 451,236 2,551,828 781 -30 53 34.6 Underground
PLIP22-70 451,254 2,551,888 789 -45 325 4.5 Underground
PLIP22-77 451,249 2,551,870 786 -40 70 7.0 Underground
PLIP22-81 451,233 2,551,874 800 -29 120 20.5 Underground
PLIP22-83 451,254 2,551,697 782 -80 80 6.6 Underground
PLIP22-91 451,168 2,551,870 748 -85 90 70.7 Underground

 

  Note: WGS84 Datum

 

 

QA/QC Procedures

 

The Company has implemented QA/QC procedures which include insertion of blank, duplicate and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, BC. The analytical methods are four acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits (>10 ppm).

 

Qualified Person

 

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & COO for GR Silver Mining, who has reviewed and approved its contents.

 

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 square kilometres of concessions containing several structural corridors totaling over 75 kilometres in strike length.

 

Posted February 21, 2023

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