GR Silver Mining Announces Filing of Technical Report for the Plomosas Project in Sinaloa, Mexico
GR Silver Mining Announces Filing of
Technical Report for the Plomosas Project in
Sinaloa, Mexico
VANCOUVER, BC
,
Oct. 8, 2021
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that a Technical
Report titled "Technical Report for the Plomosas Project,
Sinaloa, Mexico
" has been filed on SEDAR
(
www.sedar.com
). The report was prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
of the Canadian Securities Administrators ("NI 43-
101").
Highlights
Indicated Resources: 10.3 Moz AgEq - 3.4
Moz Ag
, 53 koz Au, 73 Mlbs Zn, and 48 Mlbs Pb.
Inferred Resources: 21.0 Moz AgEq - 8.6
Moz Ag
, 85 koz Au, 149 Mlbs Zn, and 116 Mlbs Pb.
The incorporation of extensive historical data and completion of the initial resource estimates at
the Plomosas Project ("Plomosas") incremental to the nearby San Marcial NI 43-101 mineral
resource estimate of 36.0 Moz AgEq # Indicated resources and 11.9 Moz AgEq # Inferred
resources (see News Release dated
June 12, 2020
), represents a major milestone for GR
Silver.
Mining Estimates include 80 new drill holes and 476 historic drill holes representing a total of
100,672 m
of drilling covering two areas, the former Plomosas Mine and the
San Juan
area.
The present resource included a sampling of historical drill holes completed by previous
companies that was frequently selective, resulting in a large amount of drill core unsampled; this
core is no longer available. Unsampled intervals within mineralized zones were assigned zero
values for the resource estimation, including in areas with evidence of precious and base metals
mineralization. Further drilling will address these blank spots to potentially continue resource
growth at the Plomosas Mine and
San Juan
areas.
A
14,000m
drill program employing seven rigs is in progress on newly identified, high priority
Au–Ag targets outside the current resource areas.
Independent Qualified Persons
The independent Technical Report was prepared by Dr.
Gilles Arseneau
, PhD, P. Geo., of Arseneau
Consulting Services Inc. ("ACS") and
Shane Tad Cowie
, P.Eng. Messrs. Arseneau and
Tad Cowie
are Qualified Persons as defined under NI 43-101. The report is filed on SEDAR and is available
on GR Silver Mining's website,
here
.
Quality Assurance Quality Control:
The scientific and technical information in this press release has been reviewed and approved by Dr.
Gilles Arseneau
, PhD, P. Geo. and
Shane Tad Cowie
, P. Eng., both of whom are Qualified Persons
as defined in NI 43-101.
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.
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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 15:58e 08-OCT-21