GR Silver Mining Announces Exploration Results 2.3 m at 16.45 g/t Au & 244 g/t Ag at Loma Dorada - La Colorada
GR Silver Mining Announces Exploration
Results 2.3 m at 16.45 g/t Au & 244 g/t Ag at
Loma Dorada - La Colorada
VANCOUVER, BC
,
Feb. 10, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FSE: GPE) – is pleased to announce gold (Au) and
silver (Ag)-rich vein intercepts from the Loma Dorada - La Colorada Vein System, within the
Plomosas Project,
Sinaloa, Mexico
. The new channel and drill results demonstrate the presence of
NW oriented Au-Ag rich structures and an additional
250 m
extension of veins to the south of
previous drill hole results. A part of the La Colorada Vein System is currently being mined within a
third party-owned concession with extensions of that Au-Ag mineralization extending into GR Silver
Mining's adjacent mineral concessions. The Company is currently mapping the third party mine
workings to collect geological information as a guide to upcoming resource expansion drilling in the
area.
Results for this news release, related to surface channel sampling and drilling in the vicinity of the
Loma Dorada - La Colorada Vein System, are summarized below.
Highlights:
High-grade NW oriented vein structures extending from the
La Colorada
historical mine
(Figure 1) support the presence of attractive drilling targets for resource expansion in
this area; including:
2.3 m
at 16.45 g/t Au and 244 g/t Ag (LDS21-CH-014),
including:
1.2 m
at 26.71 g/t Au and 356 g/t Ag
1.9 m
at 4.55 g/t Au and 64 g/t Ag (LDS-CH-015),
including:
0.6 m
at 8.68 g/t Au and 120 g/t Ag
Drill results from the 2021 drilling program have extended several NNW-SSE trending Au-
Ag veins over
600m
strike length, and possibly connecting the Loma Dorada and
La
Colorada
vein systems; including:
2.1 m
at 1.78 g/t Au and 82 g/t Ag (LDS21-01A)
2.9 m
at 1.14 g/t Au and 43 g/t Ag (LDS21-05)
2.0 m
at 1.35 g/t Au and 60 g/t Ag (LDS21-06)
GR Silver Mining President and CEO,
Marcio Fonseca
commented
"The Loma Dorada – La
Colorada Vein System appears increasingly to be a swarm of sub-parallel NW-NNW trending Au
and Ag mineralized veins. Results from the 2021 exploration program at the Loma Dorada target
indicate that several of the vein structures have strong continuity, over a strike length that has
increased to approximately
600 m
and are still open to the south. In the
La Colorada
section of this
vein system, where a small mine operation is currently ongoing in a third party-owned concession,
the Company has received strong Au-Ag channel sample results located to the NW of the main
mineralization, extending from the third-party concession into GR Silver Mining's concessions,
providing encouragement for drill hole results currently pending from this same area.
Loma Dorada
The Loma Dorada target was recently identified by GR Silver Mining geologists as an area of
extensive surface alteration and veining worthy of a drill program. The multiple veins at Loma Dorada
are interpreted to overlap with the veins of the adjacent
La Colorada
system and, hence, appear to
be part of a broader Au-Ag epithermal vein system (Figure 1). Initial drill results at Loma Dorada
(see
News Release dated
November 29, 2021
) confirmed anomalous gold grades in the first three
holes. Previously released 2021 drill holes such as, LCS21-04 (
9.0 m
at 946 g/t AgEq, including
0.65
m
at 10,777 g/t AgEq (see
News Release dated
June 10, 2021
). indicate the presence of high-
grade Ag-Au epithermal vein systems in the area, which is the subject of the Company's current
exploration and resource expansion program.
The Company has now received assay results from five additional diamond drill holes: LDS21-01A,
LDS21-04 to LDS21-07 - which cover the Loma Dorada target over a
500 m
distance from north to
south (Figure 1). The new Au-Ag drill intercepts show that the vein system has reliable and
consistent values, and validate the N-NW oriented structures identified during surface mapping and
sampling.
These new results from the eastern part of the Loma Dorada – La Colorada Vein System, which
include individual results of up to 4.23 g/t Au (Table 1), further extend the Loma Dorada vein system
to the south and increase the potential for a continuous connection with the northern extension of the
La Colorada
vein system, where high-grade Au intercepts are reported (see
News Release dated
June 10, 2021
). Mapping of structures and the ongoing geological mapping of
historical small scale underground workings provides further encouragement for the continuity of the
high-grade Au-Ag vein system.
La Colorada
Similar to the adjacent Loma Dorada system, the
La Colorada
system consists of a number of NW-
SE trending veins, as identified in surface mapping. The latest surface channel results in the furthest
NW portion of
La Colorada
include
2.3 m
at 16.45 g/t Au and 244 g/t Ag (Table 2), demonstrating
attractive high-grade Au-Ag mineralization within the NW-SE trending vein system (Figure 1).
Figure 1:
Geological Map of the Loma Dorada – La Colorada Vein System (CNW Group/GR Silver
Mining Ltd.)
Significant results from the most recent drilling at Loma Dorada are shown in Table 1, below:
Table 1: Loma Dorada Drill Results
Drill Hole
From
(m)
To (m)
Apparent
width (m)
Ag g/t
Au g/t
Pb %
Zn %
LDS21-01A
16.5
29.4
12.9
25
0.36
na
na
includes
21.0
23.1
2.1
82
1.78
na
na
LDS21-04
122.4
140.6
18.2
1
0.41
na
na
includes
140.3
140.6
0.3
4
4.23
na
na
LDS21-05
6.5
11.3
4.8
27
0.82
na
na
39.1
49.6
10.5
7
0.42
na
0.1
includes
47.9
48.5
0.6
6
3.42
0.2
0.3
LDS21-06
20.5
44.2
23.7
9
0.21
na
na
includes
36.0
38.0
2.0
60
1.35
na
na
LDS21-07
22.5
23.8
1.3
9
0.81
0.8
0.4
57.4
57.7
0.3
292
2.01
0.2
0.2
107.7
128.8
21.1
2
0.27
0.3
0.6
* Widths are apparent widths only. Insufficient structural information is available at this stage to estimate true
width with confidence. "na" = no significant result.
Significant results from the most recent channel sampling at Loma Dorada & La Colorada vein
system are shown in Table 2, below:
Table 2: Loma Dorada & La Colorada Channel Sample Results - LDS21-CH-007 to 017
Channel Sample
From (m)
To (m)
Apparent
width
(m)
Ag g/t
Au g/t
Pb %
Zn %
LDS21-CH-011
0.0
1.5
1.5
39
1.81
na
na
LDS21-CH-014
0.0
2.3
2.3
244
16.45
na
na
includes
1.1
2.3
1.2
356
26.71
na
na
LDS21-CH-015
0.0
1.9
1.9
64
4.55
na
na
includes
0.8
1.4
0.6
120
8.68
na
na
LDS21-CH-016
0.0
1.2
1.2
15
0.93
na
na
LDS21-CH-017
0.0
0.7
0.7
1
1.15
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. No relevant
assays for channels LDS21-CH-007 – 010, 012 and 013
Table 3: Loma Dorada Drill Hole Coordinates
Drill Hole
East (m)
North (m)
RL (m)
Dip (*)
Azimuth (*)
Depth (m)
LDS21-01A
447785.7
2552054
971
-60
250
45.0
LDS21-04
447940
2551880
870
-45
260
279.0
LDS21-05
447815
2552090
920
-65
290
80.1
LDS21-06
447823
2552093
920
-75
80
242.5
LDS21-07
448061
2551675
874
-45
260
221.4
Note: All holes are surface drill holes.
Table 4:
Loma Dorada & La Colorada
Channel Sample Coordinates
Channel
Sample
East (m)
North (m)
RL
(m)
Dip
(*)
Azimuth
(*)
Length
(m)
LDS21-CH-011
447350
2551462
891
6
105
2.4
LDS21-CH-014
447252
2551504
878
0
280
2.3
LDS21-CH-015
447253
2551504
878
20
290
1.9
LDS21-CH-016
447253
2551504
878
25
180
1.2
LDS21-CH-017
447357
2551295
902
65
175
0.7
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.
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.
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For further information:
Brenda Dayton, VP Corporate Communications, Telephone:
+1.604.558.6248, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 06:00e 10-FEB-22