GR Silver Mining Identifies Additional High- Grade Drill Results at Plomosas 1.7 m at 26.9 gpt Au 3.0 m at 11.9 gpt Au 51.4 m at 6.0 % Zn and 4.8% Pb 13.6 m at 15.5% Zn, 15.7%Pb, 1.9 gpt Au and 65 gpt Ag
GR Silver Mining Identifies Additional High-
Grade Drill Results at Plomosas
1.7 m
at 26.9 gpt Au
3.0 m
at 11.9 gpt Au
51.4 m
at 6.0 % Zn and 4.8% Pb
13.6 m
at 15.5% Zn, 15.7%Pb, 1.9 gpt Au and 65 gpt Ag
VANCOUVER
,
April 23, 2020
/CNW/ -
GR Silver Mining Ltd. (TSXV: GRSL,
FRANKFURT
: GPE,
OTCQB: GLYXF) ("GR Silver Mining" or the "Company")
– is pleased to announce that it has
identified more high-grade drill results at Plomosas Silver Project ("Plomosas Project") in
Sinaloa,
Mexico
. The latest results are located in the Plomosas Mine Area, one of six priority areas with a
combination of recent (2016 to 2018) and historical drilling data being released by the Company (
See Drone Image
). The most significant drill hole results for this release include the following:
1
.
7 m
at 26.9 gpt Au, 44 gpt Ag and
3.0 m
at 11.9 gpt Au, 22 gpt Ag -
representing high-
grade, precious metals-rich, low sulphidation epithermal veins hosted by E-W to NE-SW
trending fault zones (
See Photo 1
).
51.4 m
at 6.0% Zn, 4.8% Pb, 0.8 gpt Au and 26 gpt Ag including
13.6 m
at 15.5 %Zn, 15.7% Pb, 1.9 gpt Au and 65 gpt Ag
- representing the discovery of a wide polymetallic (Zn-Pb-Ag-Au) breccia on the same NW-
trending fault zone that was previously mined
200 m
above in the Plomosas mine. This confirms
upside potential for delineation of additional mineralized zones down-dip and along strike in
dilational sets hosted by the main regional Plomosas fault (
See Photo 2
).
The drill hole results serve as evidence for future resources at the Plomosas Mine Area - additional
high-grade silver and gold in parallel and oblique systems to the main polymetallic wide breccia,
hosted by the Plomosas fault (Figure 1).
Figure 1:
Cross Section - Drill Hole Collar Locations and Geology – Mineralized Structures
(Plomosas Mine Area), View North (CNW Group/GR Silver Mining Ltd.)
GR Silver Mining President and CEO,
Marcio Fonseca
, commented
,
"
The first batch of drill hole
results from the Plomosas Mine Area provides support for the significant potential of this area for
discoveries of new mineralization and the delineation of additional resources in the future. The
results not only confirm the continuity of the polymetallic wide breccia system down-dip from the
historical underground mine, but also present discoveries of parallel Au-Ag mineralized veins and
breccias. These features are being incorporated into a 3D geological model for the first time. The
results indicate potential for bulk tonnage polymetallic mineralization (Zn-Pb with attractive Ag-Au
grades) in un-mined zones near existing underground development, as well as new opportunities
for future expansion. We continue to review and validate the extensive database of drill holes,
integrating all information in a 3D model aiming at a future resource estimation."
Table 1: Drill Hole Results - (Plomosas Mine Area)
Hole No.
From
(m)
To
(m)
Drilled
width
(m)
Est.
true
width
(m)
Ag g/t
Au g/t
Zn %
Pb%
PLI16-01
121.4
124.3
2.9
2.0
28
4.2
0.5
2.4
PLI16-02
79.3
83.1
3.8
3.2
40
0.2
0.3
0.2
PLI17-01
99.8
125.3
25.5
18
7
1.7
1.0
1.3
includes
109.1
112.1
3.0
2.1
22
11.9
0.1
0.2
PLI17-02
111.3
115.8
4.6
3.2
39
1.6
3.6
4.9
PLI17-03
72.0
75.5
3.5
3.4
4
1.4
0.5
1.2
PLI17-04
88.6
91.6
3.0
2.9
22
1.5
3.9
6.5
AU08-PLS-02
315.0
342.9
27.9
27.5
13
1.8
0.4
0.9
SD-10
239.0
290.3
51.4
50.6
26
0.8
4.8
6.0
includes
273.0
286.6
13.6
13.4
65
1.9
15.7
15.5
SD-45
229.8
231.5
1.7
1.5
44
26.9
1.2
0.1
232.8
246.9
14.1
12.2
12
4.7
0.5
0.1
SD-48
284.2
326.4
42.3
38.3
18
0.5
1.1
2.1
includes
324.5
326.4
1.9
1.7
165
3.3
2.5
2.8
SD-54
327.5
330.7
3.3
3.1
69
4.2
1.0
1.0
PD-119
40.5
56.7
16.2
8.1
55
3.3
0.8
3.1
PD-120
22.9
24.7
1.8
1.6
50
6.4
12.3
11.1
155
49.7
52.2
2.5
2.2
43
5.9
7.1
9.0
All numbers are rounded.
The existing drill holes for the Plomosas Mine Area were generated by drill campaigns completed by
Grupo Mexico between 1982-2000 and First Majestic Silver Corp. ("First Majestic") between 2016-
2018 and form an extensive database for GR Silver Mining. The primary objective of Grupo Mexico
was the discovery of Pb and Zn mineralization as potential feed for their historical flotation plant
operations nearby. First Majestic drilled the Plomosas Mine Area aiming to define new mineralized
zones down-dip and along strike from the surface and underground sites. Wherever assay intervals
are identified as missing within the drill hole database, the relevant drill holes will be re-examined,
sampled, and assayed using the remaining core to complete the sequence of results.
The current on-site and database review by GR Silver Mining has confirmed the existence of multiple
vein systems hosted in a set of regional fault zones (Figure 2). In these favorable zones, wide
mineralization is generally encountered on dilational sets where the regional faults show changes in
direction, both laterally and vertically.
At the Plomosas Mine Area, the drill holes from this News Release (Table 1) have intercepted
polymetallic (Zn-Pb-Ag-Au) breccias and/or shears trending N-S to NW-SE and dipping 35-50
degrees, doubling the known mineralized system down-dip within the regional Plomosas fault (Figure
1). These breccias are predominantly monomictic with angular fragments and a sulfide-rich matrix.
The gold and silver mineralization appears to be a later mineralizing phase relative to polymetallic
(Zn-Pb-Ag-Au) breccias and they are commonly located in E-W to NE-SW and N-S to NE-SW fault
systems, respectively. The gold and silver bearing structures are characterized as a set of low
sulphidation epithermal veins and stockworks on the hanging wall and footwall of the polymetallic
breccias, presenting expanded zones for future resource modelling.
Figure 2:
Drill Hole Collar Locations and Geology – Mineralized Structures (Plomosas Mine Area)
(CNW Group/GR Silver Mining Ltd.)
Table 2: Drill Hole Locations and Coordinates (Plomosas Mine Area)
Hole No.
East
North
RL
Azimuth
Dip
Depth (m)
155
451156
2551921
766.2
0
-90
123.5
AU08-PLS-02
450894
2551786
968.0
27
-60
370.9
PD-119
451043
2551921
752.7
270
-60
147.0
PD-120
451097
2551921
752.7
90
-90
61.1
PLI16-01
450914
2551888
705.0
0
-90
286.4
PLI16-02
450918
2551887
705.0
45
-90
318.6
PLI17-01
450915
2551892
705.0
360
-50
335.5
PLI17-02
450915
2551891
705.0
360
-61
321.9
PLI17-03
450916
2551891
705.0
33
-66
235.4
PLI17-04
450916
2551892
705.0
33
-40
170.2
SD-10
451025
2551843
991.8
57
-83
364.1
SD-45
451048
2551838
990.4
270
-83
376.2
SD-48
451105
2551855
1023.7
90
-83
326.4
SD-54
451107
2551881
1038.7
90
-77
330.7
All numbers are rounded.
Plomosas Mine Area
From 1986 to 2001, within the Plomosas Mine Area, Grupo Mexico operated a shallow 600 tpd
room and pillar underground mine operation to supply material to the crushing-milling- flotation plant
(decommissioned), producing both Pb concentrate and Zn concentrate. The underground mine
operated only between levels
1000 m
and
750 m
and along a strike length of approximately
350 m
.
Historical underground operations mined only the polymetallic breccia. Two underground access
tunnels were constructed to provide flexibility to extract ore from a total of
8,000 m
of underground
development. Today, following a period of care and maintenance, most of the underground
development and mine infrastructure are in good condition allowing immediate access to all
mineralized showings for additional sampling.
Historical reports indicate that the operations were interrupted due to low commodity prices in 2001.
The historical underground cut-off grade, as reported by Grupo Mexico at the time when operations
were interrupted, was based on
US$290
/oz Au,
US$5
/oz Ag and
US$0.50
/lb Zn and Pb. GR Silver
Mining is investigating and validating the extensive database, that includes both drill hole data and
also underground channel sample results, to fully integrate all the data in accordance with current
commodity prices and proper QA/QC protocols to define new mineralized zones.
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.
Quality Assurance Program and Quality Control Procedures ("QA/QC")
The recent drill holes completed by First Majestic followed QA/QC protocols reviewed and validated
by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First
Majestic's Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying.
Additional validation and check assays were performed at independent laboratory by at SGS de
México, S.A. de C.V facilities in
Durango, Mexico
. The analytical methods applied for these recent
holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples
above Au > 10ppm and Ag > 300ppm and Gravimetric Finish. Pb and Zn were analyzed using
Inductively Coupled Plasma Optical Emission Spectrometry.
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 purpose.
About GR Silver Mining Ltd
.
GR Silver Mining Ltd. (GRSL.V) 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 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, and the delineation of 16 exploration/drilling
targets.
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 expanding its NI 43-101 resource estimate at the San Marcial Project, which
contains 36 Moz AgEq (Indicated) + 11 Moz AgEq (Inferred), by defining 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 26, 2019
.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-
ounce San Dimas Mining District which has historically produced more than 620 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2020/23/c9902.html
%SEDAR: 00040149E
For further information:
+1 (604) 202 3155, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 23-APR-20