GR Silver Drills Additional Wide High-grade Ag Mineralization at San Marcial SE Area 83.5 m at 215 g/t Ag, including 0.8 m at 2,618 g/t Ag
GR Silver Drills Additional Wide High-grade Ag
Mineralization at San Marcial SE Area 83.5 m
at 215 g/t Ag, including 0.8 m at 2,618 g/t Ag
VANCOUVER, BC
,
Nov. 21, 2022
/CNW/ -
GR Silver Mining Ltd.
("GR Silver Mining" or the
"Company")
(TSXV:
GRSL
)
(OTCQB: GRSLF) (FRANKFURT: GPE)
– is pleased to announce
additional surface drilling success in the new high-grade Southeast Area ("SE Area") silver (Ag)
discovery, at the Company's wholly-owned Plomosas Project, in
Sinaloa, Mexico
. The four new
holes represent extensions along strike or down dip, or drilling at different orientation, to delineate
mineralization geometry and boundaries. Each of the holes has provided positive silver results and
geological information to enhance the existing knowledge in the SE Area. The Company expects to
complete three more drill holes in the SE Area prior to the December cut-off date for data to be
incorporated into the 3D geological model, with the updated resource estimation expected to be
released in Q1|2023.
Highlights from the latest drilling results at the San Marcial SE Area:
SMS22-17:
14.1 m
at 186 g/t Ag
including
0.2 m
at 6,405 g/t Ag, 0.12 g/t Au, 10.1% Pb and 17.9% Zn
SMS22-18
:
73.5 m
at 72 g/t Ag
including
1.1 m
at 905 g/t Ag
and
0.8 m
at 1,039 g/t Ag
SMS22-18 intersected mineralization similar to, and up dip from, the previously announced
SMS22-10 discovery in the SE Area, where multiple high-grade intervals are hosted in a
wide zone with a predominance of Ag-rich hydrothermal breccias and stockworks
SMS22-20:
185.5 m
at 111 g/t Ag
including
83.2 m
at 215 g/t Ag
including
0.7 m
at 1,519 g/t Ag
and
0.9 m
at 1,768 g/t Ag
and
0.8 m
at 2,618 g/t Ag
SMS22-20 was drilled perpendicular to the NE-trending mineralized corridor hosting the SE
Area discovery, to confirm its geometry, as well as the position of the bounding NE-trending
structures. This hole successfully intersected the structural and mineralization objectives,
while also intersecting a high-grade gold (Au) zone on the margins of the corridor.
The first ever visible gold occurrence at San Marcial was identified in SMS22-20, returning
1m
at 31.3 g/t Au
, within a quartz vein on the margins of the NE-trending SE Area Ag-mineralized
corridor. The visible Au (Figure 3) is located below the main wide high-grade Ag mineralized
zone, supporting the opportunity for new Au discoveries in the SE Area.
The drilling program at the SE Area, continues to define the geometry and lateral extents of the
mineralization. The latest drill holes have successfully tested the mineralization stepping out from
the discovery hole (SMS22-10), along the northern margin of the NE-trending mineralized
corridor. SMS22-20 was the first hole drilled perpendicular to the NE-trending corridor
successfully defining its boundaries and allowing a better understanding of the footprint of
mineralization that will potentially be incorporated into the resource estimation update planned in
Q1|23.
GR Silver Mining Chairman and CEO,
Eric Zaunscherb
comments
"It is very satisfying to see
the emergence of the SE Area as a potential contributor to the upcoming resource estimation
update. Our geological team has done a superb job in identifying this target and efficiently probing its
geometry and continuity in recent drilling. As the exploration model has evolved, the potential for
incremental mineralization further along the Target Contact to the southeast is intriguing. The new
recognition of high-grade Au mineralization in the relatively untested margins of NE-trending
structures at San Marcial may be a significant development for the Plomosas Project."
Drilling Program Southeast Area
GR Silver Mining plans to complete three additional holes by December, and have all assays
received by early 2023. The 2022 program was the first drilling to be undertaken in the SE Area,
after successful completion of modern exploration, and resulting in a discovery. The Target Contact
(Figure 1) will be the main focus of the Company's surface program in the coming months,
particularly in areas coincident with Ag anomalies from surface geochemical sampling.
A description of each drill hole and results are as follows:
SMS22-17
was designed to test the northern margin of the NE-trending SE Area mineralized
corridor, at depth
115 m
below the discovery hole, SMS22-10. It is also lateral to hole SMS22-12
which intersected
44.5 m
at 98 g/t Ag (see
News Release dated
September 7, 2022
). SMS22-17
intersected
14.1 m
at 186 g/t Ag including a high-grade intercept of
0.2 m
at 6,405 g/t Ag that also
contained 10.1% Pb and 17.9% Zn (Table 1). This geochemical combination suggests that this hole
position is transitional between the SE Area Ag-rich mineralization and the more typical Ag-Pb-Zn
San Marcial Breccia style of mineralization in the San Marcial Resource Area (Figure 2).
SMS22-18
also tested the northern margin of the NE-trending SE Area mineralized corridor
90 m
above the SMS22-10 discovery hole. The hematite cemented hydrothermal breccia encountered in
SMS22-18 is consistent with the high-grade breccias in the discovery hole, and returned
73.5 m
at
72 g/t Ag, including high-grade intervals such as
0.8 m
at 1,039 g/t Ag (Table 1). This hole
successfully extends the SE Area mineralized zone to higher levels than previously seen (Figure 2).
SMS22-19
was drilled
75 m
up dip from hole SMS22-11 to define the extent of the SE Area
mineralization in upper levels but also to extend into the footwall volcano-sedimentary unit (Figure 1)
where a secondary breccia sub parallel to the San Marcial Resource Area breccia was interpreted
to extend. At shallow levels, the hole intersected the hematitic cemented breccia characteristic of the
SE Area with
28.9 m
at 30 g/t Ag. The secondary breccia was not present. The drill hole was
positive, intersecting wide Ag mineralization in an area previously identified during surface litho-
geochemical sampling
.
SMS22-20
is an important strategic hole that was oriented perpendicular to the NE-trending
mineralized corridor that hosts the SE Area discovery mineralization (Figure 1). It was designed to
confirm the geometry of the mineralization and validate the importance of the two NE-trending faults
that appear to control the location of the high-grade Ag mineralization. Both NE-trending faults were
successfully cut by this drill hole, while also intersecting the wide high-grade mineralized zones
identified in the discovery hole SMS22-10 as well as SMS22-11 and SMS22-16. The hole resulted in
an interval of
185.5 m
at 111 g/t Ag, including numerous intercepts >1,000 g/t Ag (Table 1) – one of
the best holes drilled to date at San Marcial. This hole provides the Company with much greater
confidence in the new SE Area mineralized zone and will assist with 3D modelling of the high-grade
Ag body as we prepare for an update of the San Marcial mineral resource estimate.
In addition to the significant Ag mineralization in hole SMS22-20, the hole also produced the first
ever examples of visible gold (Figure 3). At depth outside (to the south) of the NE-trending Ag
mineralized corridor, a crystalline quartz vein, within a silicified volcano-sedimentary unit thought to
be barren, was identified with fine grained disseminated visible Au within a sample that returned
1m
at 31.3 g/t Au (Figure 2).
The San Marcial and SE Area breccias are generally devoid of Au with only sporadic low-grade
values encountered to date, however a series of significant (>5 g/t) Au results have been drilled at
San Marcial below the wide high-grade Ag mineralized zone. The volcano-sedimentary unit in the
footwall below the San Marcial Breccia was in the 2019 Resource Area identified as a focus for low-
grade Au mineralization. In addition to this a series of high-grade Au result on the margins of the NE-
trending structural corridor have indicated potential for gold discoveries in the vicinities of the
resource area. The most significant Au results to date were from drill hole SM-19-01, which
intersected
1 m
at 204.6 g/t Au and SMS22-20, which intersected
1 m
at 31.3 g/t Au (Figure 3).
These two holes with high-grade Au were drilled in margins of NE-trending structures in the silicified
volcano-sedimentary unit below the San Marcial Breccia. Most of the previous drill holes in San
Marcial were drilled perpendicular to the NW trend, and there is a possibility that the NE trend has
been disregarded but could be associated with deep feeders where Au could be transported and
concentrated in separate low sulphidation style epithermal veining. This provides a potential new
target for exploration for additional high-grade Au at San Marcial. GR Silver Mining continues to
identify additional targets in the SE Area utilizing extensive geophysical, geochemical, and geological
data collected systematically over the past two years.
Table 1: San Marcial SE Area – Latest Results Highlights
Drill Hole
From
(m)
To
(m)
Apparent
width
(m)
Ag g/t
Au g/t
Pb %
Zn %
SMS22-17
238.6
245.0
6.4
2
0.25
na
na
287.1
301.2
14.1
186
0.02
0.4
1.1
including
287.1
290.9
3.8
595
0.03
0.8
1.4
including
288.0
288.2
0.2
6,405
0.12
10.1
17.9
SMS22-18
137.7
211.2
73.5
72
0.01
na
na
including
138.4
139.5
1.1
905
0.02
0.1
0.2
and
163.5
167.3
3.8
324
0.02
na
na
and
175.4
176.2
0.8
1,039
0.01
0.2
0.5
and
207.0
209.0
2.0
344
0.01
0.1
0.1
SMS22-19
16.3
45.2
28.9
30
na
na
na
SMS22-20
150.7
336.2
185.5
111
0.08
na
0.1
including
157.0
240.2
83.2
215
0.04
0.1
0.1
including
177.7
178.4
0.7
1,519
0.02
na
na
and
196.0
197.0
1.0
1,068
0.08
na
na
and
204.7
205.6
0.9
1,768
0.04
0.2
0.3
and
228.4
229.2
0.8
2,618
1.01
0.3
0.9
331.5
336.2
4.7
13
1.62
na
0.2
360.0
361.0
1.0
3
4.97
na
na
378.0
379.0
1.0
15
31.30
na
na
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: 2022 San Marcial Drill Program – SE Area Latest Drill Hole Details
Drill Hole
East (m)
North (m)
RL (m)
Dip (
˚
)
Azimuth (
˚
)
Depth (m)
Results Status
SMS22-17
451473
2546016
723
-50
225
380.0
This release
SMS22-18
451388
2545903
760
-48
225
336.0
This release
SMS22-19
451389
2545770
709
-50
210
306.5
This release
SMS22-20
451388
2545903
760
-50
160
396.0
This release
SMS22-21
451376
2545957
766
-55
245
342.5
Pending
SMS22-22
451501
2545921
700
-55
202
In Progress
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 km
2
of concessions containing several structural corridors totaling over 75 km in
strike length.
GR Silver Mining Ltd.
Eric Zaunscherb
Chairman & 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.
Figure 1:
Location of 2022 Drill Holes - Southeast Area and San Marcial Resource Area (CNW
Group/GR Silver Mining Ltd.)
Figure 2:
San Marcial and SE Area Longitudinal Section – Pierce Points Grade x Thickness (CNW
Group/GR Silver Mining Ltd.)
Figure 3:
Visible Gold Disseminated Within a 7cm Crystalline Quartz Vein at the San Marcial SE
Area (SMS22-20) (CNW Group/GR Silver Mining Ltd.)
SOURCE
GR Silver Mining Ltd.
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For further information:
Brenda Dayton, VP Corporate Communications, Telephone:
+1.604.417.7952, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 06:15e 21-NOV-22