GR Silver Mining Announces Discovery of Wide, High-Grade Silver Zone - 101.6 m at 308 g/t Ag, Including Multiple Intervals >1,000 g/t Ag
GR Silver Mining Announces Discovery of
Wide, High-Grade Silver Zone - 101.6 m at 308
g/t Ag, Including Multiple Intervals >1,000 g/t
Ag
VANCOUVER, BC
,
Aug. 8, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce a
new silver (Ag) discovery in the first drill hole stepping out
250 m
to the southeast of the San Marcial
Resource Area on the wholly-owned Plomosas Project in
Sinaloa, Mexico
. Surface drill hole SMS22-
10 intersected
101.6 m
at 308 g/t Ag (from
98.5 m
down hole), including
multiple intervals
grading over 1,000 g/t Ag.
The hole was drilled
250 m
to the SE of the San Marcial Resource
Area, where the Company has been exploring the extension of the target contact between upper and
lower volcanic units, which typically hosts the San Marcial Breccia Ag mineralization, together with
strong ground magnetic anomalies delineated in 2021. The drilling to date in the new area has
identified a more extensive breccia and stockwork mineralization, rich in Ag, immediately below the
contact zone and extending mineralization far below the original target zone. This new, wide, high-
grade silver discovery coincides with an inflexion in the NW-SE trending contact where it intersects
with two key NE-SW trending faults (Figure 1). This defines a highly prospective target for continued
drilling, both along strike and down dip.
Highlights of the new discovery in the Southeast Area (see also Table 1):
Surface drill hole SMS22-10 has identified a wide hydrothermal breccia and stockwork system,
with multiple high-grade Ag intervals
SMS22-10:
101.6 m
at 308 g/t Ag (from
98.5 m
down hole)
, including
0.8 m at 7,139 g/t Ag (from
98.5 m
)
0.3 m at 3,065 g/t Ag (from
102.9 m
)
0.2 m at 1,774 g/t Ag (from
116.1 m
)
0.2 m at 1,508 g/t Ag (from
118.3 m
)
0.3 m at 1,285 g/t Ag (from
134.4 m
)
4.1 m at 1,004 g/t Ag (from
149.8 m
)
0.4 m at 1,579 g/t Ag (from
156.3 m
)
0.3 m at 1,017 g/t Ag (from
171.5 m
), and
16.2 m at 414 g/t Ag (from
184.0 m
), including
1.3 m at 1,405 g/t Ag (from
198.3 m
)
Recent detailed mapping by the Company has identified important NE-SW trending faults to the
SE of the San Marcial Resource Area (Figure 2). The faults are coincident with Ag anomalies in
surface geochemistry and deeper anomalies in our recent ground geophysical survey, forming
an inflexion and likely hosting Ag mineralization below the NE-dipping contact zone that typically
hosts the San Marcial Breccia
Additional drilling is in progress along strike and down dip in the new Southeast Area discovery,
and on seven Ag geochemical anomalies in the 1.5 km long target zone
GR Silver Mining Chairman and CEO,
Eric Zaunscherb
commented,
"The discovery of wide,
high-grade silver mineralization in this new area is not only evidence of the Plomosas Project's
exploration potential, but also testament to the efficacy of the exploration model developed by our
geologists. They have clearly 'dialed in', hitting impressive mineralization on a blind target guided
by modern exploration tools and concepts. We look forward to continued exploration success and
news flow from ongoing drilling, leading to an updated project Mineral Resource Estimate in
Q1|23. In addition to wide intersections building tonnage, we are confident that the higher grades
encountered in recent drilling may also be meaningfully impactful in the upcoming resource
update."
Figure 1:
Location of 2022 Drill Holes - Southeast Area and San Marcial Resource Area (CNW
Group/GR Silver Mining Ltd.)
Southeast Area Discovery
Drill
hole SMS22-10 represents a new discovery in the Southeast Area (Figure 1), where no drilling
had previously been undertaken. It is in this area that the Company has been targeting the extension
of the contact that hosts the breccia mineralization at the San Marcial Resource Area. The discovery
drill hole passed through the upper volcanic unit, consisting primarily of andesitic "block and ash"
before reaching a hydrothermal breccia (similar to San Marcial Breccia-style of mineralization) at the
contact with the underlying (lower) volcano-sedimentary unit. This coincides with the structural
setting containing the mineralized San Marcial Breccia at the nearby San Marcial Resource Area. A
silver-only mineralized, intensely brecciated and hydrothermally altered zone, intersected
immediately below the typical San Marcial Breccia-style mineralization, hosts a wide, high-grade
zone measuring
101.6 m
and averaging 308 g/t Ag
(Table 1). This mineralized zone consists of an
intercalation of hydrothermal breccias and quartz veining/flooding containing Ag sulphides (acanthite)
and possibly other Ag sulfosalts.
The broad, high-grade interval commenced at
98.5 m
down hole with the typical San Marcial-style
breccia hosted in the contact between the upper volcanics and lower volcano-sedimentary unit
(Figure 4). This hydrothermal breccia is composed of fine hematite cementing mainly lower volcano-
sedimentary unit fragments with disseminated sulphides, both in the matrix and in the fragments.
This interval returned exceptional Ag grades of
7,139 g/t Ag over
0.8 m
(from
98.5 m
). Visible
sulphides include galena and sphalerite, while Ag sulphides are frequently fine grained and possibly
hosted within the hematite. At
102.9 m
depth, this high-grade Ag breccia was followed by an
interval containing
3,065 g/t Ag over
0.3 m
.
The mineralization discovered below the San Marcial Breccia has a predominance of Ag in the
interval from 106 to
171 m
, where trace and disseminated Ag sulfosalts are present. This results in
a wide, consistently mineralized Ag interval including higher-grade portions such as
1,774 g/t Ag
over
0.2 m
(from
116.1 m
),
1,004 g/t Ag over
4.1 m
(from
149.8 m
) and
1,579 g/t Ag over
0.4 m
(from
156.3 m
). The presence of a quartz-sulphide event, which is frequently developed in
subvertical E-W and NE oriented structures, cross-cutting the San Marcial-style breccia and volcano-
sedimentary unit, delineates a pervasive stockwork-brecciated zone (Figure 3).
From 171 to
202 m
, the stockwork-brecciated zone contains more quartz than hematite,
demonstrating both subvertical and 45
°
to 55
°
dip angles with cross-cutting relationships possibly
related to the presence of narrow subvertical dykes. This phase of mineralization consists of a more
polymetallic quartz-sericite, acanthite, argentite, and minor galena-sphalerite assemblage (Table 1),
demonstrating consistent mineralization up to
414 g/t Ag over
16.2 m
(from
184 m
), including
1,405
g/t Ag, 1.9 % Zn and 0.8 % Pb
(from
198.3 m
) (Figure 4).
The discovery extends the known mineralized system
250 m
from the edge of the San Marcial
Resource Area (Figure 2). Recent mapping has identified major regional NE-SW fault systems likely
located between the San Marcial Resource Area and the Southeast Area discovery zone.
Figure 2:
San Marcial and Southeast Area Longitudinal Section – Pierce Points Grade x Thickness
(CNW Group/GR Silver Mining Ltd.)
Follow-up Drill Program
The discovery of a new wide, high-grade Ag zone in the Southeast Area of San Marcial opens up the
potential for significant additional mineralization to the SE of the San Marcial Resource Area. This
drill success validates the excellent targeting work undertaken by the Company's technical team in
the last two years, combining detailed mapping, interpretation of a recent ground geophysical survey
and geochemical anomalies from an intensive litho-geochemical sampling program.
GR Silver Mining has identified several additional targets in the Southeast Area. Drill holes SMS22-
11 to SMS22-13 have been recently completed and are currently being logged and sampled.
Laboratory analysis for these holes is pending. Specifically, drill hole SMS22-12 was drilled below
the SMS22-10 discovery hole, whilst an additional hole (SMS22-15) is currently in the early stages
of drilling below SMS22-12 (Figure 3). The Company anticipates that drilling will continue with two
rigs over the coming months in the Southeast Area of San Marcial.
Table 1: San Marcial Southeastern Area - Results Highlights SMS22-10 (for individual Ag
results refer to Table 3)
Drill Hole
From (m)
To (m)
Apparent
width
(m)
Ag g/t
Au g/t
Pb %
Zn %
SMS22-10
55.0
81.2
26.2
2
0.12
na
na
98.5
200.1
101.6
308
0.02
0.1
0.3
including
98.5
99.3
0.8
7,139
0.04
1.6
1.3
and
102.9
103.2
0.3
3,065
na
0.1
0.2
and
116.1
116.3
0.2
1,774
0.01
na
0.1
and
118.3
118.5
0.2
1,508
na
na
0.1
and
134.4
134.7
0.3
1,285
0.04
0.1
0.5
and
149.8
153.9
4.1
1,004
0.06
0.2
0.3
and
156.3
156.7
0.4
1,579
0.06
na
0.1
and
171.5
171.8
0.3
1,017
0.15
0.4
0.7
and
184.0
200.1
16.2
414
0.05
0.4
0.9
including
198.3
199.6
1.3
1,405
0.20
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 this new mineralized zone to determine
the true widths of the drill hole intervals with any confidence.
"na" = no significant result.
Figure 3:
San Marcial Southeast Area Cross Section – SMS22-10 (B – B’ see Figure 1) (CNW
Group/GR Silver Mining Ltd.)
Drill Core from
97.15 m
to
117.3 m
Contact between upper and lower volcanics with Ag mineralized, hematitic San Marcial-style breccia
containing visible galena, sphalerite and Ag sulphides, and transitioning to stockwork/breccia.
Figure 4:
SMS22-10 Select Mineralized Drill Core – Discovery Zone (Ag grades) - Drill Core from
97.15 m to 117.3 m (CNW Group/GR Silver Mining Ltd.)
Drill Core from
193.95 m
to
199.55 m
Deeper in the Ag mineralized interval where stockwork/brecciation contains more quartz-sericite than
hematite along with polymetallic acanthite, argentite, and minor galena-sphalerite mineralization.
Figure 4:
SMS22-10 Select Mineralized Drill Core – Discovery Zone (Ag grades) - Drill Core from
193.95 m to 199.55 m (CNW Group/GR Silver Mining Ltd.)
Table 2: 2022 San Marcial Drill Program – Southeast Area Drill Hole Details
Drill Hole
East (m)
North (m)
RL (m)
Dip (
˚
)
Azimuth (
˚
)
Depth (m)
Results Status
SMS22-09 *
450815
2545982
877
-50
220
18.0
Pending
SMS22-10
441442
2545868
709
-50
250
235.8
Received
SMS22-11
441442
2545868
709
-45
205
160.9
Pending
SMS22-12
451501
2545921
700
-60
240
337.5
Pending
SMS22-13
451523
2545781
697
-50
220
229.3
Pending
Note: all holes drilled from surface; WGS84 Datum - * Drillhole completed as extension down plunge of resource area
Table 3: SMS22-10 Individual Silver Assay Results (ppm)
From
To
Length
Ag
From
To
Length
Ag
From
To
Length
Ag
From
To
Length
Ag
ppm
ppm
ppm
ppm
0
55
55
na
103.15
103.45
0.3
206
145.9
146.7
0.8
15
186.3
186.8
0.5
934
55
55.55
0.55
3
103.45
103.8
0.35
303
146.7
147.45
0.75
50
186.8
187.5
0.7
152
55.55
56.35
0.8
3
103.8
104.6
0.8
18
147.45
148.15
0.7
25
187.5
188
0.5
129
56.35
57.15
0.8
1
104.6
104.8
0.2
599
148.15
149.1
0.95
274
188
188.75
0.75
131
57.15
58
0.85
1
104.8
105.45
0.65
16
149.1
149.8
0.7
659
188.75
189.5
0.75
28
58
58.3
0.3
2
105.45
106.05
0.6
6
149.8
150.15
0.35
1530
189.5
190.3
0.8
217
58.3
59
0.7
2
106.05
106.35
0.3
87
150.15
150.9
0.75
1197
190.3
190.75
0.45
133
59
60
1
1
106.35
107.1
0.75
27
150.9
151.55
0.65
463
190.75
191.4
0.65
567
60
60.85
0.85
1
107.1
107.75
0.65
83
151.55
152.1
0.55
1265
191.4
192.1
0.7
844
60.85
61.65
0.8
1
107.75
108.75
1
20
152.1
152.75
0.65
209
192.1
192.35
0.25
433
61.65
62
0.35
1
108.75
109.15
0.4
315
152.75
153.45
0.7
1329
192.35
192.8
0.45
316
62
62.95
0.95
2
109.15
109.95
0.8
72
153.45
153.85
0.4
1427
192.8
193.2
0.4
231
62.95
63.6
0.65
1
109.95
110.7
0.75
39
153.85
154.2
0.35
955
193.2
194.2
1
135
63.6
64.15
0.55
3
110.7
111
0.3
243
154.2
154.7
0.5
407
194.2
194.55
0.35
129
64.15
65
0.85
3
111
112
1
150
154.7
155.3
0.6
177
194.55
195.1
0.55
567
65
65.9
0.9
2
112
112.7
0.7
15
155.3
155.85
0.55
676
195.1
195.7
0.6
358
65.9
66.7
0.8
1
112.7
113.7
1
440
155.85
156.3
0.45
437
195.7
196.3
0.6
313
66.7
67.5
0.8
1
113.7
114.55
0.85
118
156.3
156.65
0.35
1579
196.3
197.05
0.75
729
67.5
68.2
0.7
1
114.55
115.3
0.75
27
156.65
157.65
1
340
197.05
197.65
0.6
518
68.2
68.8
0.6
2
115.3
116.05
0.75
243
157.65
158.5
0.85
523
197.65
198.25
0.6
801
68.8
69.4
0.6
1
116.05
116.25
0.2
1774
158.5
159.5
1
183
198.25
198.6
0.35
2088
69.4
69.95
0.55
3
116.25
117.3
1.05
33
159.5
160.1
0.6
273
198.6
199.55
0.95
1154
69.95
70.9
0.95
1
117.3
118.3
1
56
160.1
160.75
0.65
123
199.55
200.1
0.55
167
70.9
71.75
0.85
1
118.3
118.5
0.2
1508
160.75
161.25
0.5
125
200.1
200.8
0.7
20
71.75
72.6
0.85
2
118.5
119.5
1
60
161.25
161.9
0.65
278
200.8
201.2
0.4
15
72.6
73.05
0.45
2
119.5
120.1
0.6
117
161.9
162.85
0.95
185
201.2
202.05
0.85
64
73.05
74.1
1.05
3
120.1
121
0.9
61
162.85
163.35
0.5
112
202.05
202.75
0.7
122
74.1
75.1
1
1
121
122
1
253
163.35
164.25
0.9
16
202.75
203.35
0.6
45
75.1
75.8
0.7
5
122
123
1
53
164.25
164.8
0.55
105
203.35
204.05
0.7
28
75.8
76.45
0.65
4
123
124
1
124
164.8
165.2
0.4
30
204.05
204.7
0.65
5
76.45
77.3
0.85
5
124
125
1
87
165.2
165.7
0.5
101
204.7
204.9
0.2
19
77.3
77.65
0.35
4
125
125.8
0.8
51
165.7
166.7
1
233
204.9
205.75
0.85
10
77.65
78.55
0.9
3
125.8
126.6
0.8
87
166.7
167.75
1.05
51
205.75
206.4
0.65
11
78.55
79.4
0.85
2
126.6
127.25
0.65
93
167.75
168.8
1.05
12
206.4
207.3
0.9
7
79.4
80.3
0.9
4
127.25
127.5
0.25
187
168.8
169.1
0.3
49
207.3
208.2
0.9
6
80.3
81.15
0.85
5
127.5
128.05
0.55
134
169.1
169.8
0.7
48
208.2
209.1
0.9
6
81.15
82
0.85
2
128.05
128.6
0.55
166
169.8
170.6
0.8
19
209.1
210
0.9
14
82
82.85
0.85
2
128.6
129.45
0.85
311
170.6
171.45
0.85
31
210
210.9
0.9
7
82.85
83.15
0.3
3
129.45
130.25
0.8
445
171.45
171.75
0.3
1017
210.9
211.8
0.9
3
83.15
83.75
0.6
2
130.25
130.75
0.5
149
171.75
172.2
0.45
155
211.8
212.7
0.9
4
83.75
84.3
0.55
1
130.75
131.35
0.6
223
172.2
172.65
0.45
28
212.7
213.6
0.9
3
84.3
84.9
0.6
2
131.35
131.9
0.55
379
172.65
173.45
0.8
86
213.6
214.6
1
5
84.9
85.9
1
1
131.9
132.6
0.7
233
173.45
173.65
0.2
147
214.6
215.5
0.9
5
85.9
86.9
1
3
132.6
133.3
0.7
366
173.65
174.3
0.65
531
215.5
216.45
0.95
3
86.9
87.9
1
3
133.3
134
0.7
238
174.3
174.65
0.35
127
216.45
217.4
0.95
4
87.9
88.7
0.8
4
134
134.2
0.2
197
174.65
174.9
0.25
169
217.4
218.3
0.9
2
88.7
89.5
0.8
2
134.2
134.4
0.2
250
174.9
175.2
0.3
44
218.3
219.2
0.9
3
89.5
90.2
0.7
4
134.4
134.7
0.3
1285
175.2
176.1
0.9
82
219.2
220.1
0.9
4
90.2
91
0.8
11
134.7
135.55
0.85
129
176.1
176.35
0.25
454
220.1
221.1
1
1
91
91.9
0.9
4
135.55
135.9
0.35
142
176.35
177
0.65
29
221.1
222.1
1
3
91.9
92.8
0.9
3
135.9
136.35
0.45
364
177
177.75
0.75
10
222.1
223.1
1
4
92.8
93.7
0.9
1
136.35
137.35
1
166
177.75
178.3
0.55
70
223.1
224.1
1
2
93.7
94.6
0.9
3
137.35
138.3
0.95
223
178.3
179.25
0.95
58
224.1
225
0.9
2
94.6
95.4
0.8
3
138.3
139.2
0.9
133
179.25
179.95
0.7
53
225
225.8
0.8
4
95.4
96.2
0.8
15
139.2
140.1
0.9
110
179.95
180.5
0.55
88
225.8
226.8
1
1
96.2
97
0.8
5
140.1
140.7
0.6
110
180.5
180.95
0.45
24
226.8
227.8
1
1
97
97.85
0.85
6
140.7
141.3
0.6
539
180.95
181.25
0.3
244
227.8
228.8
1
2
97.85
98.5
0.65
4
141.3
142.2
0.9
20
181.25
181.75
0.5
52
228.8
229.8
1
1
98.5
98.85
0.35
10550
142.2
142.75
0.55
64
181.75
182.2
0.45
23
229.8
230.8
1
1
98.85
99.3
0.45
4486
142.75
143.4
0.65
21
182.2
182.7
0.5
30
230.8
231.6
0.8
4
99.3
100.2
0.9
204
143.4
143.85
0.45
322
182.7
183.3
0.6
20
231.6
232.3
0.7
84
100.2
100.8
0.6
86
143.85
144.1
0.25
193
183.3
183.95
0.65
57
232.3
233.1
0.8
1
100.8
101.5
0.7
87
144.1
144.55
0.45
105
183.95
184.35
0.4
252
233.1
233.9
0.8
5
101.5
101.95
0.45
189
144.55
144.95
0.4
45
184.35
185.3
0.95
83
233.9
234.8
0.9
4
101.95
102.9
0.95
61
144.95
145.25
0.3
45
185.3
185.9
0.6
82
234.8
235.8
1
1
102.9
103.15
0.25
3065
145.25
145.9
0.65
197
185.9
186.3
0.4
32
Numbers may be rounded. Results are uncut and undiluted. Intervals shown are down hole intervals.
"na" = no significant result.
Quality Assurance Program and Quality Control Procedures ("QA/QC")
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.
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 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.
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 08-AUG-22