GR Silver Continues Expansion of the SE Area Discovery Zone With High-grade Silver Intervals Outside Resource Area 35.2 m at 134 g/t Ag including 0.9 m at 1412 g/t Ag
GR Silver Continues Expansion of the SE Area
Discovery Zone With High-grade Silver
Intervals Outside Resource Area 35.2 m at 134
g/t Ag including 0.9 m at 1412 g/t Ag
VANCOUVER, BC
,
June 14, 2023
/CNW/ -
GR Silver Mining Ltd.
("
GR Silver Mining
" or the
"
Company
") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce
results from two additional step-out drill holes – SMS23-03 and SMS23-04 - outside the recently
published NI 43-101 Mineral Resource Estimate boundary ("Mineral Resource") in the San Marcial
Area in
Sinaloa, Mexico
.
The drilling program is targeting the extension of the SE Area discovery,
250 m
along strike to the
southeast, targeting identification of the silver mineralized contact zone at shallow depth. SMS23-03
is located approximately
100 m
outside of the Mineral Resource and represents the down-dip
extension,
100 m
below SMS23-02 (
11.3 m
at 584 g/t Ag – see
News Release dated
May 25, 2023
). SMS23-04 represents a step out of
300 m
from the last drill hole used in the Mineral Resource,
hole SMS22-23 (Figures 1 and 2).
Highlights from the latest drilling at San Marcial
(down hole thickness)
:
SMS23-03:
35.2 m
at 134 g/t Ag, including
3.3 m
at 506 g/t Ag and
0.9 m
at 1412 g/t
SMS23-04:
15.0 m
at 32 g/t Ag
The positive results, continue to encourage the Company on the potential to extend the Mineral
Resource along strike and down-dip in the SE Area Discovery Zone, San Marcial Area. 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
450 m
of wide shallow silver
mineralization along the prospective Target Contact (Figure 1).
The wide silver intervals intersected in holes SMS23-03 and SMS23-04 continue to support the
potential for extension of the wide mineralization geometry along strike. The drilling program, with
two additional drill holes (for a total of six), aims to extend the footprint of the SE Area Discovery
Zone for an additional
450 m
along strike to the southeast, outside the Mineral Resource.
Chair and CEO
Eric Zaunscherb
commented, "
Our current drill program is successfully
demonstrating that wide, shallow, silver mineralization extends to the southeast from the SE Area
discovery. We look forward to committing to the 12,500-metre drill program that has been
recommended
(see
News Release dated
May 8, 2023
),
pending board approval, that will further
test this highly prospective target area.
"
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 %
SMS23-03
178.4
195.7
17.3
111
0.01
0.1
0.1
including
186.6
188.3
1.7
640
0.03
na
na
198.3
204.6
6.3
132
0.02
na
0.1
229.3
264.5
35.2
134
0.11
0.1
0.4
including
229.3
243.4
14.1
174
0.06
0.2
0.5
and
252.2
255.5
3.3
506
0.23
0.3
0.8
including
254.1
255.0
0.9
1,412
0.48
0.6
2.2
SMS23-04
170.6
185.6
15.0
32
0.03
0.1
0.1
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
This release
SMS23-04
451798
2545713
760
-75
210
300
This release
SMS23-05
451798
2545713
760
-85
30
325
Pending
SMS23-06
Pending
WGS84 Datum. Numbers may be rounded.
Step Out Drilling Program Southeast Area
GR Silver Mining has completed six drill holes and it will have all assays received by
August 2023
.
This drilling program is the first drilling 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) will 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.
A description of each drill hole and results are as follows:
SMS23-03
was drilled to test the down-dip continuity of high-grade "bonanza" silver mineralization
intersected in SMS23-02 (see
News Release dated
May 25, 2023
) at the northeast dipping contact
between upper volcanics and the lower volcano-sedimentary unit. SMS23-03 intersected the contact
zone deeper than expected and with a higher dip angle indicating that the contact zone tends to
subvertical at depth in this location. Surface mapping indicates the presence of a northeast trending
fault in the vicinity of SMS23-02 and SMS23-03, subparallel to the faults controlling mineralization in
the SE Area discovery. The latter hole intersected the green facies volcano-sedimentary unit, similar
to that hosting the SMS22-10 discovery hole mineralization, which was not reported in the shallower
SMS23-02. The silicified facies of the volcano-sedimentary unit, below the green facies, reported Ag
sulphides in the cementing matrix of hydrothermal breccias and possibly overprinted by sphalerite
(Zn) and galena (Pb) mineralization. A new style of mineralization was intersected in SMS23-03
above the contact zone, within the upper volcanics containing Ag sulfosalts within calcite veinlets and
stockworks. This discovery provides encouragement in this unit, which has previously lacked
mineralization.
SMS23-04
was drilled approximately
150 m
southeast of SMS23-02 to test the continuity of high-
grade mineralization in the silicified facies of the volcano-sedimentary unit close to surface. The drill
hole intersected the contact zone at a lower elevation than expected however Ag grades are not as
high as SMS23-02 but still have important Ag anomalies indicating the continuity of the
mineralization. Nevertheless, the drill hole intersected another two breccia zones with sphalerite,
indicating that better grades and plunge of mineralization tends to deepen further to the southeast
along the contact zone. SMS23-05 (pending assays) was drilled to investigate increase of silver
mineralization down-dip from the hole SMS23-04.
The breccias at the hole SMS23-04 are developed mostly in the silicified facies of the volcano-
sedimentary unit with Ag sulfosalts and Zn>Pb sulphides. The pale brown sphalerite variety in this
hole indicates a low temperature of crystallization instead of the dark marmatite sphalerite variety
seen elsewhere at San Marcial. This mineralization is hosted within white and amethystine silica, with
bladed calcite textures indicating a classic low sulphidation epithermal system cross-cutting typical
breccias of the SE Area mineralization style.
Departure of Vice President Exploration and Corporate Development
GR Silver Mining also announced the departure of Vice President Exploration and Corporate
Development Trevor Woolfe. Mr. Woolfe will be returning to his native
Australia
after he concludes
his time with us on
June 30, 2023
. He joined the Company in
July 2018
and has been an important
member of the geological team as our understanding of mineralization at the Plomosas Project and,
consequently, our mineral resource inventory, have grown. He has been a central figure in the
development and nurturing of the team in
Mexico
, which we are fortunate to have in place. President
and COO
Marcio Fonseca
will take on most of Mr. Woolfe's responsibilities, but he will be supported
by General Manager
Alejandro Cano Cabello
(Mining and Metallurgical Engineer) with extensive
experience in development and operation of exploration and mine projects in
Mexico
, Exploration
Manager
Luis Coto
(20 years of experience, including large epithermal systems with known deposits
in
Latin America
), and experienced geological staff who discovered the SE Area at the San Marcial.
We are very grateful to Mr. Woolfe for his contributions in building the Company and our team.
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 06:15e 14-JUN-23