GR Silver Mining Confirms Wide, High-grade Silver Mineralization Below the San Marcial
GR Silver Mining Confirms Wide, High-grade
Silver Mineralization Below the San Marcial
Resource, 18.5 m @ 773 g/t Ag, including 1,792
g/t Ag over 5.6 m
VANCOUVER, BC
,
Jan. 17, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce
wide, high-grade silver (Ag) results from diamond core drilling from the recently expanded
underground tunnel in the San Marcial Area, at the Plomosas Project,
Sinaloa, Mexico
. These assay
results are from the initial three holes of an eight-hole program and confirm extensions of high-grade
Ag mineralization along strike, as well as up to
170 m
down dip, below the San Marcial NI 43-101
mineral resource. The successful results extend the mineralization from the initial
250 m
to
approximately
420 m
down dip from surface. These results also suggest that the compilation of
modern and historical data, combined with advanced geological modelling, has been successful in
targeting higher grade mineralization on the project.
The Company has successfully completed the first ever underground drill program at San Marcial,
confirming extensions of the high-grade Ag mineralization at attractive widths and grades to support
future resource expansion (Figure 1).
All eight holes in the resource expansion program have now been successfully completed with
assays pending for five holes.
Highlights:
First phase of San Marcial resource expansion drilling successfully completed, defining
not only continuity of high-grade Ag mineralization but also delineating new, wide
hydrothermal breccias carrying Au mineralization on the footwall of the San Marcial Ag-
rich hydrothermal breccia.
Ag results from the San Marcial Breccia include:
881 g/t Ag over
2.0 m
from
118.0 m
downhole (SMI21-01)
773 g/t Ag over
18.5 m
from
179.4 m
downhole (SMI21-03), including:
1,792 g/t Ag over
5.6 m
from
184.5 m
downhole, and
516 g/t Ag over
7.9 m
from
190.0 m
downhole
Initial resource expansion drilling consists of 8 holes for
2,436 m
drilled from recently
completed underground development in the current resource area.
Discovery of disseminated Au mineralization on the footwall of the San Marcial Ag-rich
Breccia hosted in multiple hydrothermal breccias delineating new target for future
drilling aiming to define wide Au only mineralized system.
0.19 g/t Au over
77.5 m
from
138.3 m
downhole (SMI21-01)
Full integration of the recently completed ground geophysical survey (IP-MAG), covering
the trend from San Marcial to
San Juan
, combined with new geological discoveries, has
proven essential for definition of the exploration program for 2022, including surface
and underground drilling in new target areas.
Definition of a multi-event mineralized hydrothermal system with multiple styles of
hydrothermal breccia indicating a large geological setting to support resource expansion
and additional discoveries in the vicinities of the current NI 43-101.
GR Silver Mining President and CEO,
Marcio Fonseca
commented
"The first drill results from
our resource expansion program at San Marcial have proven the consistency and continuity of the
Ag-rich San Marcial Breccia mineralization, along strike and down dip. Based on such
encouraging initial assay results we are anticipating continued positive results for the remainder of
the drill core currently at the laboratory. The introduction of a modern exploration approach by the
GR Silver Team is delineating an extensive hydrothermal system with presence of high-grade
silver mineralization, proving continuity of the San Marcial Breccia down dip to support resource
expansion. It is also delineating wide Au mineralized zones, which will be the subject of additional
drilling in 2022. I congratulate the GR Silver Team for its exploration achievement at San Marcial
by discovering the down dip extension of the San Marcial Breccia."
Resource Expansion Drill Program
The first phase resource expansion drill program included
2,436 m
with eight diamond drill holes
completed from one platform at the end of the
280 m
of underground development at the San
Marcial tunnel. This underground drill station makes it cost-effective to drill additional extensions of
the San Marcial Breccia down dip and down plunge (see
News Release dated
September 1, 2021
).
Oriented drill core was logged in detail, given the large hydrothermal system encountered in most of
the eight holes drilled in this program. Assay results for the initial three drill holes have been received
(Table 1), and results for the remaining five drill holes are pending (Table 2).
Significant results from the initial underground drilling at San Marcial Area are shown in Table 1,
below:
Table 1: San Marcial Drill Results
Drill Hole
From (m)
To (m)
Apparent
width
(m)
True width (m)
Ag g/t
Au g/t
Pb %
Zn %
SMI21-01
109.5
135.6
26.1
24.5
97
0.02
0.2
0.2
includes
118.0
120.0
2.0
1.9
881
0.05
0.2
0.4
142.3
155.7
13.4
12.6
4
0.23
na
na
166.0
174.2
8.2
7.7
7
0.22
na
na
183.8
214.1
30.3
28.5
6
0.23
na
na
254.8
257.6
2.8
2.6
1
1.08
na
na
SMI21-02
140.0
157.8
17.8
17.5
53
0.02
0.3
0.5
includes
140.0
142.3
2.3
2.3
157
0.06
1.3
2.5
282.7
286.4
3.7
3.6
3
0.20
na
na
292.9
294.8
1.9
1.9
6
0.75
na
na
332.0
332.5
0.5
0.5
185
0.03
na
0.1
340.5
342.5
2.0
2.0
5
0.32
na
na
SMI21-03
179.4
197.9
18.5
13.5
773
0.02
0.3
0.4
includes
184.5
190.0
5.6
4.1
1,792
0.04
0.6
0.8
and
190.0
197.9
7.9
5.8
516
0.02
0.1
0.1
201.0
213.2
12.2
8.9
19
0.14
0.3
0.8
"na" = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.
San Marcial Geology and Mineralization Styles
The San Marcial Ag-Pb-Zn-(Au-Cu) mineral body is a remarkably consistent tabular structure
trending NW-SE with an average dip of 55 degrees to the NE and a thickness that varies from 10 to
50 m
. It follows the San Marcial Fault, with andesitic volcanic breccias and ignimbritic block and ash
units in the hanging wall. In the footwall, a strongly altered heterogenous volcaniclastic-sedimentary
unit is found (Figure 2).
Silver mineralization is comprised of three distinct events. The first mineralizing event consists of
hydrothermal breccias with silica-rich cement and clasts of volcaniclastic-sedimentary rock in the
footwall, which contains pyrite in veinlets and disseminated with continuous low-grade Au (0.1 – 2.0
g/t) content over large intervals of up to
140 m
(Figure 2). An example of this is in drill hole SMI21-
01, which returned 0.23 g/t Au over
30.3 m
, with individual samples up to 1.00 g/t Au (189.6 –
190.5
m
). At depth, strongly silicified and mineralized felsic dykes have been identified with values of up to
0.94 g/t Au (SMI21-01: 143.4 –
144.6 m
) possibly related to this hydrothermal event. Similar
lithologies have previously been associated with high-grade gold mineralization in the footwall at San
Marcial, with drill hole SM-19-01 returning
1.0 m
at 204.6 g/t Au (see
News Release dated
July 30, 2019
). Further,
several fault-parallel crackle breccia zones are evident
in the hanging wall with similar compositional characteristics as the hydrothermal breccia.
The second mineralizing event produces the main San Marcial Breccia with high-grade Ag and
subordinate Pb and Zn. It is bound to the San Marcial Fault and shows several brecciation events
with Ag-sulphides, and coarse galena and sphalerite mineralization with a characteristic silica-
hematite matrix and reddish colour. The third mineralizing event is related to late, steeply dipping
faults that cut and displace the rock units, showing approximately
2 m
-wide stockwork and veinlet
zones of low-temperature quartz-amethyst-calcite mineralization which contain Ag mineralization, and
are found in the footwall and hanging wall of the deposit.
Photographic images and assay values of representative core samples are
found here
.
Figure 1 provides a sectional slice through a 3-dimensional model of the San Marcial deposit. The
main Ag-bearing San Marcial Breccia dips consistently down to the NE below the theoretical pit
outline. The current San Marcial NI 43-101 Mineral Resource report (see
News Releases dated
February 7, 2019
and
June 12, 2020
) concentrates on the upper portion of
the Ag mineralization close to the surface. The wide, high-grade Ag result in SMI21-03 (Table 1) is
located approximately
170 m
down dip below the base of the NI 43-101 Mineral Resource,
highlighting the potential for underground resource expansion. Geological logging has confirmed the
presence of breccia in hole SMI21-07, located deeper than hole SMI21-03 (Figure 1), indicating
additional down dip expansion potential.
The extensive, wide, low-grade Au zone in the footwall below the San Marcial Breccia also features
in this model. Future exploration of the footwall zone will continue to provide a better understanding
of the Au mineralization, its genesis, and hopefully provide vectors that will assist in defining
additional higher-grade zones.
Figure 1:
San Marcial NI 43-101 resource model and extension (CNW Group/GR Silver Mining Ltd.)
Targeting of the drill program was aided by 3D chargeability, resistivity and magnetic inversion data
products received by the Company over the San Marcial Resource Area. Several zones of elevated
chargeability correspond with volcaniclastic-sedimentary units that are found in the immediate
footwall of the San Marcial Fault, overlapping with areas of disseminated pyrite, and coincident with
previously reported gold intercepts (see
News Release dated
November 12, 2020
).
Table 2: San Marcial Underground Drill Hole Details
Drill Hole
East (m)
North (m)
RL (m)
Dip (
˚
)
Azimuth (
˚
)
Depth (m)
Results Status
SMI21-01
451033
2546021
818
-48
218
330
Received
SMI21-02
451033
2546021
818
-43
183
345
Received
SMI21-03
451033
2546021
818
-90
0
300
Received
SMI21-04
451033
2546021
818
-70
148
234
Pending
SMI21-05
451033
2546021
818
-70
325
330
Pending
SMI21-06
451033
2546021
818
-50
285
255
Pending
SMI21-07
451033
2546021
818
-75
90
333
Pending
SMI21-08
451033
2546021
818
-80
360
309
Pending
Note: all holes drilled from the same underground drill platform
San Marcial Exploration Planning
The Company anticipates assay results from the remaining five drill holes in the initial underground
drill program at San Marcial in the coming months. Once received, the 3-dimensional geological
model will be updated and further surface and/or underground drilling will be delineated. The GR
Silver Mining Team continues to assess additional targets along strike from the San Marcial
Resource Area, particularly to the SE, for Ag resource expansion based on similar geological-
geophysical and structural targets recognized in our 2021 exploration program.
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
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.
Figure 2:
Cross-section of the San Marcial deposit (CNW Group/GR Silver Mining Ltd.)
SOURCE
GR Silver Mining Ltd.
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For further information:
please contact: Brenda Dayton, VP Corporate Communications,
Telephone: +1.604.558.6248, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 03:30e 17-JAN-22