GR Silver Continues Expansion of the SE Area Discovery Zone with 250 m step out from the Resource Area: 20.2 m at 187 g/t Ag including 5.7 m at 513 g/t Ag and 0.8 m at 2041 g/t Ag
GR Silver Continues Expansion of the SE Area
Discovery Zone with 250 m step out from the
Resource Area: 20.2 m at 187 g/t Ag including
5.7 m at 513 g/t Ag and 0.8 m at 2041 g/t Ag
VANCOUVER, BC
,
Aug. 15, 2023
/CNW/ -
GR Silver Mining Ltd.
("
GR Silver Mining
" or the
"
Company
") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce
results from one additional step-out drill hole – SMS23-05 - outside the recently published NI 43-101
Mineral Resource Estimate boundary ("Mineral Resource") in the San Marcial Area in
Sinaloa,
Mexico
.
The initial step-out drilling program targeted the extension of the SE Area discovery,
250 m
along
strike to the southeast. It aims to confirm the presence of wide silver mineralization close to the
surface along the target contact (Figures 1 and 2).
Highlights from the latest drilling at San Marcial
(down-hole thickness)
:
SMS23-05:
20.2 m
at 187 g/t Ag, including
5.7 m
at 513 g/t Ag and
0.8 m
at 2041 g/t Ag
The SMS23-05 result continues to suggest an extension of the Mineral Resource along strike and
down-dip in the SE Area Discovery Zone, San Marcial Area. The result also reflect an increase in
grade at some specific elevations when comparing these results with the previously released result
SMS23-04 (Figure 2).
From the original
300 m
strike length of the SE Area Discovery that was incorporated into the
Mineral Resource, the Company has drilled and identified an additional
250 m
of wide shallow silver
mineralization along the prospective Target Contact (Figure 1). The advance in the understanding of
the controls on mineralization, post successful drilling and discovery of the SE Area, provided
essential exploration tools to achieve the increase in the footprint of the mineralization along the
strike.
Chair and CEO
Eric Zaunscherb
commented, "
One must not lose sight of the significant exploration
potential of the expansive and wholly owned Plomosas Project beyond its recently updated Mineral
Resource.
An excellent drill intersection hit rate has demonstrated the efficacy of the Company's
geological exploratory model
as the SE Area Discovery mineralization is being extended along the
Target Contact. Surface Ag lithogeochemical anomalies and intriguing geophysical anomalies do
appear to provide attractive targets for mineralization below the surface. Recognition of higher-
grade mineralization at specific elevations within the mineralizing system has important
implications
for the
overall average grade. Further, newly recognized subtle changes to alteration
and mineralization styles appear to be associated with the intrusive body or bodies that may have
provided the energy and metalliferous fluids to the Target Contact system, providing a new and
exciting avenue for exploration."
Zaunscherb added,
"Management is tirelessly engaged in
positioning the Company for the next phase of exploration on this highly prospective project.
"
Figure 1:
San Marcial SE Area Step Out Drilling Program - Location of 2023 Drill Holes (CNW
Group/GR Silver Mining Ltd.)
Figure 2:
Longitudinal Section - Step Out Drilling Program Outside San Marcial Resource Area
(CNW Group/GR Silver Mining Ltd.)
Table 1: San Marcial SE Extension Drill Program– Results Highlights
Drill Hole
From
(m)
To
(m)
Apparent
width
(m)
Ag g/t
Au g/t
Pb %
Zn %
SMS23-05
261.7
281.8
20.2
187
0.05
0.3
0.7
including
271.5
277.2
5.7
513
0.05
0.4
0.8
including
271.5
272.3
0.8
2041
0.14
0.8
1.9
Numbers may be rounded. Results are uncut and undiluted. True width not estimated as the Company does not have sufficient data from the new mineralized zones to determine
the true widths of the drill hole intervals with any confidence. "na" = no significant result.
Table 2: Drill Hole Details - 2023 San Marcial Step Out Drill Program
Drill Hole
East (m)
North (m)
RL (m)
Dip (
˚
)
Azimuth
(
˚
)
Depth (m)
Results Status
SMS23-03
451670
2545827
780
-80
202
350
released
SMS23-04
451798
2545713
760
-75
210
300
released
SMS23-05
451798
2545713
760
-85
30
325
This release
WGS84 Datum. Numbers may be rounded
.
Step Out Drilling Program Southeast Area, San Marcial
GR Silver Mining has completed five drill holes in the first program to be undertaken outside of the
SE boundary of the Mineral Resource, which includes the initial extension of the SE Area discovery.
The Target Contact (Figure 1) continues to be the focus of the Company's surface exploration
program over the coming months, particularly in areas coincident with Ag anomalies from surface
geochemical sampling and the Company's 2021 ground geophysical survey. In the preceding
months, the Company initiated exploratory programs to validate new mineralized zones to the south
of the San Marcial Area, aiming to continue future project resource expansion.
A description of SMS23-05 is detailed below:
SMS23-05
Drillhole SMS23-05 explored the continuity of silver mineralization 100 metres down dip from the
intersection at SMS23-04 and 200 metres down potential plunge from SMS23-02 (Figure 2). This
drill hole is also defining an extension of the mineralized zone for at least 400 metres along the strike
to the SE from discovery hole SMS22-10 (Discovery drill hole SE Area).
The results to date of drilling along the contact zone between the lower volcano-sedimentary unit and
upper volcanic continue to the SE and SMS23-05 support continuity of high-grade silver
mineralization along or very close to the contact zone (SMS23-05
5.7 m
@ 513 g/t Ag including
0.8
m
@ 2041 g/t Ag).
SMS23-05 has intersected a multistage quartz-calcite-sulfide zone composed of irregular veins and
breccias crosscutting other hydrothermal breccias, which were initially defined in SMS22-10. The
structural setting at the SMS23-05 site is sub-vertical, with dip angles of 75° (higher than the
previous intersected zone in the SE Area).
Pervasive silicified alteration halos
are noted in the lower volcano-sedimentary unit, with the local
presence of hornfels textures, with chlorite-albite and k-feldspar alteration. This suggests proximity
to the granodiorite intrusive that has been identified on a surface outcrop no more than 500 metres
away from the SMS23-05 site.
The results support a critical exploratory role by certain elevation when compared with SMS23-04
located in the same section. While SMS23-04 intersects the contact zone and veining zone at 650
metres elevation, SMS23-05 intercepts mineralization at 550 metres elevation with significantly
better Ag grades than SMS23-04 and similar to SMS23-02. The similarities with SMS23-02 confirm
that mineralization appears to plunge in the SE direction.
As in other areas in San Marcial and SE Area where there is an abundant expression of the lower
volcano-sedimentary unit, SMS23-05 intersected a Au anomalous zone related to the increase of
sulfur content, mineralogically represented by pyrite and minor chalcopyrite and arsenopyrite, finely
disseminated and in veinlets-stringers. This event suggests the potential for additional exploratory
models, including the presence of a porphyry system, that are still to be validated with additional
exploration on site.
The success of the step-out drilling program with high-grade results confirming down plunge
continuity of the mineralization supports the existing potential to increase resources at the San
Marcial Area.
About the Plomosas Project
The Plomosas Project, including the recent high-grade silver SE Area discovery in the San Marcial
Area, is an emerging high-grade silver district located in southern
Sinaloa, Mexico
. The Plomosas
Project, covering 43,187 ha, benefits from mine infrastructure, road access and existing permits,
associated with past-producing historical mining sites. The district contains intermediate to low
sulphidation epithermal silver and gold mineralization hosted in hydrothermal breccias and veins.
Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal
breccias in the San Marcial Area, including the SE Area discovery, where drilling incorporated into
the updated
March 2023
Plomosas Project mineral resource estimation highlighted an exploration
opportunity for continuous resource growth.
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 km
2
of concessions containing several structural corridors totaling over 75 km in
strike length.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on the beliefs of management and
reflect the Company's current expectations. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Such statements and information reflect
the current view of the Company. Risks and uncertainties may cause actual results to differ
materially from those contemplated in those forward-looking statements and information. By their
nature, forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events,
to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this press release.
SOURCE
GR Silver Mining Ltd.
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For further information:
Eric Zaunscherb, Telephone: +1.647.293.8457, Email:
CO: GR Silver Mining Ltd.
CNW 07:00e 15-AUG-23