GR Silver Mining Announces Discovery of Mineralized Veins at the Plomosas Project - Loma Dorada Target including: 1.0m at 5.23 g/t Au and 166 g/t Ag
GR Silver Mining Announces Discovery of
Mineralized Veins at the Plomosas Project -
Loma Dorada Target including: 1.0m at 5.23 g/t
Au and 166 g/t Ag
VANCOUVER, BC
,
Nov. 29, 2021
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces the discovery of
a gold-silver rich mineralized zone and the presence of narrow epithermal veining resulting from the
initial reconnaissance drilling at Loma Dorada, within the Company's Plomosas Project, in Sinaloa
State,
Mexico
.
Highlights:
The Loma Dorada target is currently the subject of reconnaissance drilling, testing a
new geological model of NW trending, Au-Ag rich veining - a possible extension 1.2 km
along strike from
La Colorada
Individual epithermal veins returned attractive gold and silver results, including:
1.0 m
at 5.23 g/t Au and 166 g/t Ag (LDSP21-007)
Extensive iron oxide rich zone indicates pervasive alteration with broad low-grade gold
mineralization over a 1.5 km x 0.5 km area, defining the Loma Dorada target (Figure 1)
Surface channel sampling has identified multiple veins on surface displaying gold and
silver mineralization including:
1.8 m
at
1.3 g/t Au
11.7 m
at 0.3 g/t Au, including
1.3 m
at 1.1 g/t Au
Ongoing reconnaissance drilling continues to define extensions of the wide mineralized
zone, with potential to define drilling targets along strike and down dip, including:
5.9 m
at
0.5 g/t Au, 0.8% Pb and 1.0% Zn
(LDS21-03)
GR Silver Mining President and CEO,
Marcio Fonseca
commented
"The first drill results from
our Loma Dorada target provide significant encouragement for us to continue prospecting in this
area, with the objective of defining new high-grade zones within our Plomosas Project. The
previously announced surface drilling campaign is targeting new zones where geological
reconnaissance identified areas to drill test new gold-silver rich epithermal veins. The Company
will continue reconnaissance drilling in Loma Dorada to extend the mineralization and improve the
understanding of geological controls on this promising area."
The Company is advancing exploration on multiple targets, as part of its previously announced
surface diamond drilling program. High-angle NW and NE trending structures that are potential hosts
to low to intermediate sulphidation epithermal systems, are the key targets at Loma Dorada,
Trampolín, El Saltito, Plomosas Sur and the GAP Area. An additional 35 targets are being reviewed
at the Plomosas Project (which includes San Marcial and
La Trinidad
) for follow-up drilling in recently
mapped veins, such as
El Ranchito
y
Las Cuevas
(Figure 1).
Figure 1: Location of the Loma Dorada Target to the NNW of the San Juan Area (drone image)
(CNW Group/GR Silver Mining Ltd.)
Loma Dorada Mineralization
Loma Dorada is one of GR Silver's high priority targets for reconnaissance drilling. The Loma
Dorada target is characterized by a prominent 1.5 km x 0.5 km iron-rich soil color anomaly and
broad zone of hydrothermal alteration (Figure 1) associated with intense oxidization and argillic
alteration, as well as Au and Ag geochemical anomalies.
The main geological concept being tested at Loma Dorada is a set of NNW-SSE to N-S trending
veins which are subparallel to the main Ag-Au mineralized vein systems in other parts of the
Plomosas Project. Frequently, the veins have a brecciated character with sulphide-poor, Au-bearing
hematite-silica rich cement or quartz veins of polymetallic Ag-Au-Pb-Zn type, with textures such as
comb, lattice and bladed silica/quartz. Ongoing drilling is delineating low grade Ag-Au mineralized
zones of low to intermediate sulphidation epithermal characteristics close to surface (Table 1).
The Loma Dorada veins are potentially related to the northern extension of the
San Juan
-
La
Colorada
vein system, located 1.2 km to the SE (Figure 2). Additionally, the extension of the
La
Colorada
high-grade Au vein, which returned
9.0 m
at 1.82 g/t Au and 710 g/t Ag, including
0.7 m
at
18.8 g/t Au and 8,519 g/t Ag (LCS21-04) (see
News Release dated
June 10, 2021
),
has been
traced further to the NW and is currently being tested with a series of drill holes. Historical small
scale underground activity in nearby third-party concessions provides further encouragement for the
potential of these veins on surface.
Significant results from the initial drilling at Loma Dorada are shown in Table 1, below.
Figure 2: Geological Map of the Loma Dorada – La Colorada Targets (CNW Group/GR Silver
Mining Ltd.)
Table 1: Loma Dorada Drill Results
Drill Hole
From (m)
To (m)
Apparent
width
* (m)
Au g/t
Ag g/t
Pb %
Zn %
LDS21-01
21.0
24.0
3.0
0.73
na
na
na
LDS21-02
35.8
37.5
1.7
0.65
na
na
na
LDS21-03
241.5
249.0
7.5
0.30
na
0.7
0.8
255.4
261.3
5.9
0.52
na
0.8
1.0
LDSP21-007
3.0
4.0
1.0
5.23
166
na
na
LDSP21-002
12.0
14.0
2.0
0.95
77
na
na
* Widths are apparent widths only. Insufficient structural information is available at this stage to estimate true width with confidence. "na" = no significant result. LDSP21-007
and LDSP21-002 are portable core drill holes. LDSP21-001, LDSP21-003, LDSP21-004 and LDSP21-006 did not return relevant assays.
Table 2: Loma Dorada Drill Hole Coordinates
Hole No.
East (m)
North
(m)
RL
(m)
Dip
(
˚
)
Azimuth
(
˚
)
Depth
(m)
Type
LDSP21-
002
447767
2552196
926
-85
250
14.0
Surface
(P)
LDSP21-
007
447815
2551783
920
-35
250
14.0
Surface
(P)
LDS21-01
447785.7
2552054
971
-60
250
100.5
Surface
LDS21-02
447822
2551941
919
-45
250
75.0
Surface
LDS21-03
447790
2551955
917
-45
70
346.5
Surface
The recent surface channel sampling program at Loma Dorada has also identified multiple veins and
wide gold mineralized zones as illustrated by the channel sample results below.
Channel
Samples
From
(m)
To
(m)
Apparent
width
*
(m)
Au
g/t
Ag
g/t
Pb
%
Zn
%
LDS21-CH-002
0.0
1.1
1.1
1.37
154
na
na
LDS21-CH-005
0.0
1.8
1.8
1.3
34
na
na
LDS21-CH-006
0.0
11.7
1.1
0.3
11
na
na
includes
0.0
1.3
1.3
1.06
36
No relevant assays for channels LDS21-CH 001 – 003 and 004
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 778 km
2
of concessions containing several structural corridors totaling over 75
kilometres in strike length.
GR Silver Mining Ltd.
Mr.
Marcio Fonseca
, P. Geo.
President & 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2021/29/c7892.html
%SEDAR: 00040149E
For further information:
Brenda Dayton, VP Corporate Communications, Telephone:
+1.604.558.6248, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 06:00e 29-NOV-21