GR Silver Mining Delineates New Mineralized Zone from Drilling in the San Juan Area, Plomosas Silver Project 5.5 m
GR Silver Mining Delineates New Mineralized
Zone from Drilling in the San Juan Area,
Plomosas Silver Project
5.5 m
@ 332 g/t AgEq
1
(264 g/t Ag, 0.4 g/t Au, 0.3 % Pb and 0.6 % Zn), includes
1.5 m
@ 1,112 g/t AgEq (943 g/t Ag, 1.1 g/t Au, 0.5 % Pb and 1.3 % Zn)
19.0 m
@ 297 g/t AgEq (49 g/t Ag, 1.8 g/t Au, 0.8 % Pb and 1.4 % Zn)
25.2 m
@ 178 g/t AgEq (82 g/t Ag, 0.5 g/t Au, 0.9 % Pb and 0.5 % Zn)
3.2 m
@ 477 g/t AgEq (27g/t Ag, 0.3 g/t Au, 3.0 % Pb and 11.4 % Zn)
7.1 m
@ 7.5 % Zn, 2.4 % Pb and 0.9 g/t Au
3.3 m
@ 11.3 % Zn
0.4 m
@ 10.2 g/t Au and 2.1 % Zn
VANCOUVER, BC
,
Nov. 23, 2020
/CNW/ -
GR Silver Mining Ltd.
(TSXV: GRSL) (FRANKFURT:
GPE) (OTCQB: GRSLF)
("GR Silver Mining" or the "Company")
– is pleased to report a new
mineralized zone defined by drill results from the
San Juan Area
at its 100%-owned Plomosas Silver
Project ("Plomosas Project") in
Sinaloa, Mexico
. The new zone called the "Yecora Vein" includes
results from the 2020 drilling program as well as a reinterpretation of historical drill results in the
same area.
The results confirm the presence of wide and high-grade zones of silver, gold, lead and zinc
mineralization, close to the surface in a new mineralized structure paralled to the
San Juan Area
. In
addition to encountering attractive, near surface polymetallic (Ag-Au-Pb-Zn) mineralization at
Yecora
, gold-hosted veins have been identified indicating new opportunities for shallow drilling. The
San Juan Trend now extends for at least 2 km along strike, consisting of at least six mapped veins:
San Juan
,
La Colorada
,
Yecora
, Loma Dorada, La Odisea and
San Francisco
(Figure1).
_____________________________
1
AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead.
The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn.
Figure 1: Yecora Vein Drill Hole Location Map – New Mineralized Structure in the San Juan Area
(CNW Group/GR Silver Mining Ltd.)
GR Silver Mining President and CEO,
Marcio Fonseca
, commented,
"These results from the
Yecora Vein together with our recent 3D modelling of ground IP and airborne magnetic
geophysical data provide encouragement for the definition of a much larger epithermal system at
San Juan
. Since the
March 2020
acquisition of the Plomosas Project, the Company has expanded
the strike length of the
San Juan
system from its original
400 m
to approximately 2 km, and has
demonstrated the presence of at least six mineralized veins (Figure 2). Our ongoing surface
drilling program, together with validation of extensive historic drilling data, is providing strong
evidence that the mineralized footprint extends beyond the previously drilled areas".
The progress of the exploration program at
San Juan
, which includes surface drilling and a review of
geochemical and geophysical exploration data, in combination with detailed geological mapping, is
expanding the extent of high-grade precious and base metal mineralization. This program has
achieved the discovery of new mineralized structures close to the old
San Juan
mine workings at
shallow depth. The Yecora Vein is located to the west of the San Juan Vein and appears to be a
splay from the low sulphidation epithermal vein systems mapped in nearby old workings (
La
Colorada
). It has a strike length of at least
500 m
and remains open in both directions.
Highlights of the Yecora Vein in the
San Juan Area
Results from a total of 29 shallow core drill holes define a new mineralized zone.
The footprint of the mineralized structures is approximately
500 m
along strike, open in both
directions, dipping 50˚ to 70˚ to the west.
The mineralized structure sits on the geological contact between andesites and volcanic
breccias, showing evidence of intense remobilization.
The zone includes both a polymetallic, epithermal vein style of mineralization, from 2 to
5 m
wide, in addition to disseminated sulphides, resulting in high grade zinc and lead in the host rock
up to
25 m
wide.
There is an apparent zonation in the mineralized zone with polymetallic epithermal quartz veins
sitting on the upper part of the system, dipping 50 ˚ to the west. The disseminated stockwork
and veinlets with associated base metals mineralization occur mostly on the lower portion of the
system. There is commonly narrow massive sphalerite-galena with associated silver and gold
mineralization in the lower portion of the system.
There is good continuity between the
50 m
spaced drilled sections (on average), supporting the
potential to define additional shallow resources.
The proximity to the surface of most of the drill results, in combination with favourable
topography, provides an immediate target for additional drilling along strike and down-dip.
Figure 2: Drone Image of the San Juan Area (looking to the NW) (CNW Group/GR Silver Mining
Ltd.)
The mineralized Ag-Au-Pb-Zn veins reported in this news release (Table 1), add to the potential for
delineation of near surface polymetallic resources in multiple zones at the
San Juan Area
.
The Company's diamond core drilling program at the Plomosas Silver Project is ongoing and includes
shallow drill holes from surface, as well as underground drilling inside recently rehabilitated existing
developments or old workings. The Company has increased the scale of the drill program at the
Plomosas Silver Project from a previously released
4,500 m
(see
News Release dated
15 July, 2020
) to a total of
11,900 m
. There are currently five drill rigs on site,
including one underground drill rig, as part of the resource expansion and discoveries drill program.
Table 1 summarizes the most significant drill assay results for this set of 29 drill holes released for
the Yecora Vein in the
San Juan Area
.
Table 1: Summary Surface Drill Hole Results - News Release
November 23, 2020
(Yecora Vein
–
San Juan Area
)
Hole No.
From
(m)
To
(m)
Drilled
width
(m)
Est.
true
width
(m)
Ag g/t
Au g/t
Pb %
Zn %
AgEq
g/t
YES20-01
37.0
42.5
5.5
5.5
264
0.4
0.3
0.6
332
includes
39.5
41.0
1.5
1.5
943
1.1
0.5
1.3
1,112
YE-1
80.9
83.9
3.0
3.0
na
1.4
na
1.2
includes
82.0
82.4
0.4
0.4
na
10.2
na
2.1
YE-2
49.7
52.1
2.4
2.3
na
0.6
na
1.0
YE-3
108.4
110.0
1.7
1.6
na
1.1
na
na
YE-4
61.5
75.3
13.8
13.5
na
0.5
na
na
YE-5
41.4
54.2
12.8
12.5
na
na
0.7
1.5
YE-8
136.6
139.9
3.3
3.2
na
na
na
11.3
YE-9
80.9
81.5
0.6
0.5
na
na
na
7.2
99.3
100.3
1.0
1.0
na
2.3
na
0.2
YE-11
120.0
124.0
4.0
3.5
10
0.7
na
na
YE-12
43.5
45.5
2.0
2.0
16
na
2.3
3.7
197
YE-13
58.4
59.1
0.7
0.7
na
0.2
0.2
2.3
61.1
62.0
0.9
0.9
na
1.0
na
na
YE-15
66.0
67.0
1.1
1.1
9
0.9
na
19.3
632
YE-17
74.3
77.5
3.2
3.0
27
0.3
3.0
11.4
477
YE-19
86.5
93.6
7.1
7.0
13
0.9
2.4
7.5
388
YE-20
21.4
28.6
7.2
7.0
na
na
0.2
0.6
31.0
34.6
3.6
3.5
12
na
1.5
1.3
100
79.8
85.0
5.3
5.2
14
0.2
0.2
7.3
242
YE-21
65.1
77.4
12.3
12.1
na
na
0.3
0.4
YE-23
91.3
94.8
3.5
3.3
na
na
0.9
1.6
116.2
126.7
10.5
10.0
na
0.6
1.0
5.0
YE-24
55.0
59.7
4.7
4.5
na
na
0.3
1.4
YE-25
50.9
62.1
11.2
11.2
na
na
0.2
0.6
146.8
148.8
2.0
2.0
18
1.0
1.7
10.4
464
YE-26
17.1
32.1
15.0
15.0
na
0.1
0.3
1.0
YE-27
35.4
60.5
25.2
25.0
82
0.5
0.9
0.5
178
YE-28
165.7
168.3
2.6
2.5
na
na
0.4
1.0
171.3
172.9
1.6
1.4
na
na
0.6
2.1
179.2
184.5
5.3
5.0
na
na
0.5
1.2
YE-29
20.4
30.7
10.3
10.0
8
0.1
2.7
1.9
163
YE-30
52.5
61.8
9.3
9.0
10
0.1
1.5
2.0
127
66.1
85.2
19.1
19.0
49
1.8
0.8
1.4
297
223.4
224.3
0.9
0.9
3
5.0
na
na
YE-31
105.5
108.1
2.6
2.5
10
1.0
5.4
1.9
349
134.3
137.0
2.7
2.6
na
0.4
na
2.4
178.7
182.0
3.3
3.2
na
2.4
na
na
YE-32
171.7
174.3
2.6
2.5
na
0.4
na
1.1
182.1
184.4
2.3
2.2
na
na
na
1.4
YE-34
133.9
143.1
9.2
9.0
na
0.6
na
1.1
YE-35
136.2
147.9
11.7
11.5
na
na
na
0.6
150.1
155.9
5.8
5.6
na
na
0.2
0.6
208.6
211.5
2.9
2.7
na
0.2
na
1.1
221.3
223.6
2.3
2.1
na
0.6
na
2.2
YE-36
160.7
166.5
5.8
5.5
na
0.5
na
na
270.4
280.8
10.4
10.0
na
na
na
0.6
*AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The
metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn. "na" = no relevant assays. All numbers are rounded. Results are uncut and undiluted.
The 29 drill holes in this news release were generated by: (a) GR Silver Mining's core drilling
campaign (YES20-01), and (b) historical drill holes completed by Grupo Mexico, which make up part
of an extensive surface and underground diamond core drilling database, that the Company
continues to consolidate and validate.
Table 2 provides collar coordinates for the drill holes presented in this news release.
Table 2: Drill Hole Locations – News Release
November 23, 2020
(Yecora Vein,
San Juan
Area
)
Hole No.
East (m)
North (m)
RL (m)
Az.
Dip
Depth (m)
YES20-01
447753
2550717
821
270
70
118.5
YE-1
447834
2550460
783
235
75
136.1
YE-2
447834
2550460
783
235
45
107.6
YE-3
447834
2550460
783
0
90
118.8
YE-4
447815
2550485
786
238
77
144.3
YE-5
447815
2550484
786
0
90
150.9
YE-8
447815
2550484
786
238
55
139.8
YE-9
447855
2550513
796
238
71
143.8
YE-11
447855
2550513
796
0
90
172.7
YE-12
447814
2550478
783
235
66
207.1
YE-13
447797
2550550
793
235
73
129.3
YE-15
447797
2550592
798
235
60
184.1
YE-17
447797
2550592
798
235
78
205.2
YE-19
447797
2550592
798
0
90
207.5
YE-20
447715
2550631
818
0
90
209.5
YE-21
447765
2550629
796
0
90
167.3
YE-23
447839
2550615
816
235
75
169.6
YE-24
447765
2550629
796
235
75
127.2
YE-25
447839
2550615
816
0
90
212.3
YE-26
447715
2550631
818
270
75
236.3
YE-27
447746
2550686
811
270
70
210.7
YE-28
447839
2550615
816
55
78
220.8
YE-29
447715
2550631
818
270
65
205.3
YE-30
447746
2550686
811
0
90
247.0
YE-31
447893
2550463
795
0
90
204.5
YE-32
447893
2550463
795
235
55
190.6
YE-34
447856
2550365
793
270
65
208.3
YE-35
447876
2550225
821
0
90
233.3
YE-36
447857
2550365
793
0
90
280.7
All numbers are rounded.
The Company believes that the
San Juan Area
represents a large, low sulphidation epithermal
system. Our investigations to date have identified evidence of multiple events of mineralization,
including a combination of precious and/or base metals in veins, veinlets, stockworks and
hydrothermal breccias. This represents an opportunity for the definition of a resource in this area
with the shallow surface drilling program to continue discovering new mineralized zones close to the
surface.
Qualified Person
The scientific and technical data contained in this News Release related to the Plomosas Project
was reviewed and/or prepared under the supervision of
Marcio Fonseca
, P.Geo. He has approved
the disclosure herein.
Quality Assurance Program and Quality Control Procedures ("QA/QC")
The Company has implemented QA/QC procedures which include insertion of blank 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 4-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.
GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay
protocols and at this stage is considering the information historic for news release purposes.
About GR Silver Mining Ltd
.
GR Silver Mining Ltd. is a
Mexico
-focused company engaged in cost-effective silver-gold resource
expansion on its key assets which lie on the eastern edge of the Rosario Mining District,
Sinaloa,
Mexico
.
PLOMOSAS SILVER PROJECT
GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village
of
La Rastra
, within the Rosario Mining District. The Project is a past-producing asset where only
one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The
Project has an 8,515-hectare property position and is strategically located within 5 km of the
Company's San Marcial Silver Project in the southeast of Sinaloa State,
Mexico
. The Plomosas
Project comprises six areas with an average of 100 surface and underground drill holes in each
area, geophysical and geochemical data covering most of the concession, 16 new exploration
targets from which 11 have high priority for future exploration programs.
The 100%-owned assets include all facilities and infrastructure including: access roads, surface
rights agreement, water use permit,
8,000 m
of underground workings, water access, 60 km - 33
KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing
approximately
US$30m
of previous capital investments. The previous owners invested approximately
US$18 million
in exploration.
The silver and gold mineralization on this Project display the alteration, textures, mineralogy and
deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia
mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow
mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of
the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The
Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas
Mine,
San Juan
,
La Colorada
,
Yecora
,
San Francisco
and El Saltito. These drill holes represent an
extensive database allowing the Company to advance towards resource estimation and potential
project development in the near future.
SAN MARCIAL PROJECT
San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver
Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and
11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the
project's 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San
Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource
Estimation and Technical Report) was completed by WSP Canada Inc. on
March 18, 2019
and
amended on
June 10, 2020
.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-
ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11
Moz gold over a period of more than 100 years.
OTHER PROJECTS
GR Silver Mining's other projects are situated in areas attractive for future discoveries and
development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.
Mr.
Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of
this press release.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements 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.
SOURCE
GR Silver Mining Ltd.
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For further information:
+1 (604) 202 3155, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 08:55e 23-NOV-20