GR Silver Mining Provides Update on its Quarterly Filings
GR Silver Mining Provides Update on its
Quarterly Filings
VANCOUVER
,
BC
,
June 26, 2020
/CNW/ -
GR Silver Mining Ltd.
(TSXV: GRSL) (FRANKFURT:
GPE) (OTCQB: GRSLF)
("GR SilverMining"orthe"Company")
– f
ollowing its press release of
May 29, 2020
, the Company is providing a further update on the status of filing of its Q1 interim
financial statements, management's discussion and analysis and related CEO and CFO certificates
for the 3 month period ended
March 31, 2020
(collectively, the "
Q1
Filings
").
On
March 18, 2020
, the Canadian Securities Administrators announced that they would provide
issuers with a 45-day filing extension for filings required on or before
June 1, 2020
, as a result of
COVID-19 pandemic. As such, the British Columbia Securities Commission has enacted BC
Instrument 51-515
Temporary Exemption from Certain Corporate Finance Requirements
("
BCI 51-
515
").
In its
May 29, 2020
, press release, the Company announced its reliance on the exemption with
respect to extending the deadline of the required filings pursuant to BCI 51-515. The Company is
continuing to work diligently and currently still expects to file the Q1 Filings on or prior to
July 15,
2020
.
As required by BC Instrument 51-515, and similar Instruments and Orders enacted in
Alberta
,
Saskatchewan
and
Ontario
, the Company discloses the following:
Until such time as the Company has filed the Q1 Filings, members of management and other
insiders are subject to a trading black-out policy that reflects the principles in section 9 of
National Policy 11-207 –
Failure-to-File Cease Trade Orders and Revocations in Multiple
Jurisdictions
.
The Company confirms that there have been no material business developments, other than
those announced through news releases, since
April 24, 2020
, when the Company filed its
December 31, 2019
year end audited financial results.
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 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 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.
SuchstatementsandinformationreflectthecurrentviewoftheCompany.Risksanduncertainties 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-lookingstatements.
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 18:00e 26-JUN-20