GR Silver Mining Provides an Update on the 2021 Reconnaissance Drilling Program at the Plomosas Project
GR Silver Mining Provides an Update on the
2021 Reconnaissance Drilling Program at the
Plomosas Project
VANCOUVER, BC
,
Nov. 3, 2021
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to provide an
update to the market on our 2021 reconnaissance drilling program at the Plomosas Project, in
Sinaloa State,
Mexico
. This drill program is focused primarily on new areas (Figure 1), recognized
as attractive sites for NW or NE trending, high-grade Au-Ag mineralized veins. Additionally, we
provide an update on the discovery of the sulphide-rich mineralization in the footwall of the San
Marcial resource area (Figure 3).
Highlights:
Loma Dorada – initial logging has identified a set of NE trending quartz-sulphide veins,
interpreted to connect with the
San Juan Area
, located 1.2 km to the south
San Marcial - Underground drilling has successfully extended the mineralized breccia
100 m
down dip, below the mineral resource boundary, and has also identified a broad
sulphide-rich zone hosted by a volcano-sedimentary unit.
El Trampolín – a N-S trending epithermal vein system, along strike from historic
underground workings
El Saltito – a 2.5 km long NW-SE trending epithermal vein system including the northern
and southern extensions of historic shallow Ag-Au underground workings
GAP Area – a series of NW-SE trending epithermal veins, located between San Marcial
and
San Juan
, discovered as a result of recent geological, geochemical and geophysical
surveys
Plomosas South – presence of sulphide-rich, steeply dipping veinlets hosted within NE-
SW trending structures on the edge of intrusive diorites
GR Silver Mining President and CEO,
Marcio Fonseca
commented
"Despite a number of
seasonal setbacks out of the Company's control, we have successfully advanced our
reconnaissance drill program, completing
5,500 m
to date of the proposed
14,000 m
program. We
have delineated new epithermal systems in an extensive area outside of the previously announced
mineral resources. It is a credit to our team that despite COVID-19 challenges and a heavy "wet"
season with strong rainfall, the exploration program has been able to proceed. While we have
experienced extended turnaround times for laboratory analyses, we anticipate this situation will
improve in the final months of the year. With the wet season essentially behind us, the Company
anticipates drilling and exploration productivity to increase and will release assay results in the
context of each target."
The Company is advancing exploration on multiple targets, ranging from resource expansion to
potential new discoveries. The NW and NE trending high-angle structures potentially hosting low to
intermediate sulphidation epithermal systems, are the key targets at Loma Dorada, Trampolín, El
Saltito, Plomosas Sur and the GAP Area (Figures 1 and 2). Additionally, early-stage reconnaissance
exploration at the
Las Cuevas
and
El Ranchito
areas provide additional prospects for future drilling.
The following figure (Figure 1) illustrates the geographical location of some of the targets being
drilled in relation to the Plomosas Mine Area, indicating the magnitude of the hydrothermal system
within the Plomosas Project.
Figure 1:
View Looking East to the Sierra Madre Occidental – Drill Program Targets (CNW
Group/GR Silver Mining Ltd.)
Figure 2:
Reconnaissance Drill Targets (CNW Group/GR Silver Mining Ltd.)
The following is a summary description of the drilling targets being tested.
LOMA DORADA
Loma Dorada is one of GR Silver's high priority targets for reconnaissance drilling. The Loma
Dorada target is characterized by a prominent 1.5 km x 0.5 km iron-rich soil color anomaly (Figure
1) associated with intense oxidization and argillic alteration, as well as Au and Ag geochemical
anomalies. The broad zone of hydrothermal alteration with disseminated sulphide and quartz-
sulphide veining (Figure 1) is located 1.2 km NW of
San Juan
. Ongoing drilling is delineating new Ag-
Au mineralized zones of low to intermediate sulphidation epithermal characteristics close to surface.
The primary geological concept at Loma Dorada is to test the northern extension of the
San Juan
-
La Colorada
vein system. GR Silver's drilling to date has resulted in the discovery of typical
epithermal veins with textures such as comb, lattice and bladed silica/quartz veins.
SAN MARCIAL
The first underground drill program is underway at San Marcial aiming to identify new Au-Ag zones in
the footwall area outside of the mineral resource and to extend the San Marcial hydrothermal
breccia down dip.
The main drill targets include:
Shallow ground geophysical anomalies (magnetometry, chargeability and resistivity) related to a
sulphide-rich volcano-sedimentary unit in the footwall of the existing mineral resource
The down dip extension of the San Marcial hydrothermal breccia to expand the current NI 43-
101 mineral resource (Figure 3)
Prospective narrow high-grade Au mineralization, as reported by previous drilling (including
1 m
at 204.6 g/t Au, see
News Release dated
July 30, 2019
).
Figure 3:
Representative Cross Section – San Marcial Underground Drilling (CNW Group/GR Silver
Mining Ltd.)
Similar zones of elevated chargeability are found over several kilometres further S and SE of the
resource area, untested by drilling, and remain attractive targets for future exploration. Resistivity
and magnetic data are helping to understand the geology of this area, with definition of large
intrusive (diorite and granodiorite) units, as well as identifying new drill targets.
PLOMOSAS SOUTH
The current exploration program at Plomosas South is focused on three potential mineralization
styles:
the southerly extensions to the Plomosas Ag-Pb-Zn mineral system, hosted by the Plomosas
Breccia;
the occurrence of a set of NE-SW striking Au-Cu veins and NW-SW trending Ag-Au veins which
are historically identified cross-cutting the Plomosas mineralization at different levels within the
historic Plomosas mine; and
the occurrence of high-angle Au mineralization at the contact between a diorite sill and the
volcanic/volcaniclastic host rock sequences.
TRAMPOLIN
The Trampolin target is a 3 km long N-S trending, steeply dipping structural corridor located
between, and subparallel to, Loma Dorada and the Plomosas Mine Area (Figures 1 and 2). Initial
geological reconnaissance in this target area indicates the presence of an epithermal vein system in
close proximity to a volcanic dome complex with associated Cu-Au mineralization, located
immediately to the north.
Shallow drilling is currently underway to assess the mineral potential of this epithermal vein, along
strike. The southern portion of this system is currently undergoing small scale underground mining by
a local third party.
EL SALTITO
The El Saltito target consists of a set of NW-SE trending epithermal quartz veins located 4.5 km to
the west of the Plomosas Mine Area (Figure 2). The system extends for at least 2.5 km, including
the northern and southern extensions of historic shallow Ag-Au underground workings, currently held
by a third party.
The southern projection of the El Saltito vein system suggests continuity towards the GAP Area vein
system (Figure 2).
GAP AREA
The GAP Area consists of a series of NW-SE striking, steeply dipping epithermal quartz veins,
located within the area between the
San Juan
and San Marcial areas (Figure 2). No exploration was
ever undertaken along this 5 km long structural corridor which hosts numerous old workings. Recent
mapping and mineral prospecting by GR Silver identified epithermal textures, with highly anomalous
Au values up to 10.7 g/t Au (see
News Release dated
September 8, 2021
). Geological mapping by
the Company, supported by recent interpretation of a ground geophysical survey, confirms a
geological setting favourable for the presence of multi-phase, overprinting, low sulphidation
epithermal veins.
The Company is continuing with the reconnaissance drilling, testing new targets with the objective of
identifying new discoveries, as well as the resource expansion underground drilling at San Marcial.
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 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) ac
cepts 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 06:30e 03-NOV-21