GR Silver Mining Reports Further Drill Results from San Juan at the Plomosas Project: 2.7 m at 1,304 gpt AgEq* and 3.6 m at 675 gpt AgEq*
GR Silver Mining Reports Further Drill Results
from San Juan at the Plomosas Project: 2.7 m
at 1,304 gpt AgEq* and 3.6 m at 675 gpt AgEq*
VANCOUVER
,
May 4, 2020
/CNW/ -
GR Silver Mining Ltd. (TSXV: GRSL,
FRANKFURT
: GPE,
OTCQB: GLYXF) ("GR Silver Mining" or the "Company")
– is pleased to report additional high-
grade drill results at its 100% owned Plomosas Silver Project ("Plomosas Project") in
Sinaloa,
Mexico
. These results are located in the
San Juan
area, one of six priority areas with a combination
of recent (2016 to 2018) and historical drill data being released by the Company (
See Drone Image
).
These additional drill hole results indicate continuity of the high-grade silver-gold mineralization in the
San Juan
area on a step-out section,
100 m
north of drill holes reported in a previous news release
(see
April 13, 2020
) (
Link to Figure
).
GR Silver Mining President and CEO,
Marcio Fonseca
, commented
,
"
The step-out drilling
results along the strike of the
San Juan
mineralized system have confirmed the presence of a
high-grade footprint related to the breccia-hosted Pb-Zn-Ag-Au mineralization and the sub-vertical
fault-hosted, low sulphidation epithermal Ag-Au vein-breccia systems. We have validated the
extent of the
San Juan
trend on surface to span over
500 m
along strike. Additionally, we have
validated approximately 30% of the
San Juan
drill database, with reviews continuing. Based on our
success in defining multiple mineralized systems and confirming high-grade mineralization along
strike, we believe that there is upside potential for further positive results on the remaining drill
holes still to be released."
Table 1 summarizes the most significant drill assay results for the second group of holes released
for the
San Juan
area.
Table 1: Summary Drill Hole Results - News Release
May 4, 2020
(
San Juan
area only)
Hole No.
From
(m)
To
(m)
Drilled
width
(m)
Est.
true
width
(m)
Ag g/t
Au g/t
Zn %
Pb %
Ag Eq
g/t
LRD-31
154.4
162.4
8.0
6.0
324
0.10
0.6
0.6
384
LRD-46
32.7
41.2
8.5
6.4
198
0.13
0.5
1.7
261
58.5
62.5
4.0
3.0
404
0.13
0.3
0.7
444
LRD-54
113.2
114.5
1.3
1.0
22
8.16
0.1
0.5
323
127.2
129.9
2.7
2.0
821
0.40
4.5
7.4
1,304
SJS-03
No significant intercept
SJS-05
No significant intercept
SJD-17
56.0
58.5
2.5
1.9
521
0.43
1.6
4.6
705
SJS-29
162.1
165.2
3.0
2.3
12
0.10
0.4
0.7
61
168.5
171.5
3.0
2.3
34
1.30
0.1
1.2
203
174.9
177.8
2.8
2.1
4
0.0
0.2
0.4
27
SJD-10
69.5
73.0
3.6
2.7
574
0.80
0.7
1.6
675
SJD-11
48.0
50.1
2.1
1.6
86
na
0.1
0.2
97
SJS18-06
44.05
44.95
0.9
0.8
4
1.00
na
na
SJS18-07
47.1
49.1
2.0
1.5
103
0.45
0
0.1
120
384.2
385.8
1.6
1.2
na
1.30
0.7
1.1
*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 100%. "na" = no relevant assays.
All numbers are rounded. Results are uncut and undiluted.
The existing drill holes for the Plomosas Project 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 which GR Silver Mining is consolidating and validating. 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.
Table 2 summarizes the not sampled historical drill hole intervals ("NS") for the second group of
holes released for the
San Juan
area.
Table 2: San Juan Drill Holes – Historical Drill Hole Intervals Not Sampled
Hole No.
From-To
(m)
Sampling
Hole No.
From-To
(m)
Sampling
SJS18-07
0-14.65
NS
SJS18-06
0-11.8
NS
SJS18-07
51.6-86.7
NS
SJS18-06
54.6-91.6
NS
SJS18-07
88.3-131.75
NS
SJS18-06
95.15-152.5
NS
SJS18-07
143.7-211.05
NS
SJS18-06
177.95-259.2
NS
SJS18-07
230.7-256.25
NS
SJS18-06
264.95-285.45
NS
SJS18-07
277.6-326.75
NS
SJS18-06
287.8-297.1
NS
SJS18-07
336.8-353.55
NS
SJS18-06
336.65-386.5
NS
SJS18-07
397-403.3
NS
SJS18-06
370.5-381.75
NS
SJS18-07
406.95-415.2
NS
SJS18-06
386.05-460.3
NS
SJS18-07
421.05-437.5
NS
SJS18-06
467.4-482.7
NS
SJD-03
0-134.95
NS
LRD-46
0-35.15
NS
SJD-03
205.8-234.7
NS
LRD-46
68.5-78.25
NS
SJD-17
0-55.95
NS
LRD-54
0-113.2
NS
SJD-17
58.45-66
NS
LRD-54
142.3-147.7
NS
SJD-05
0-163.9
NS
GR Silver Mining continues its review and validation of more than 500 surface and underground drill
holes on all six zones, aiming to confirm additional multiple vein systems hosted in a set of regional
high angle fault zones and shallow dipping younger regional faults.
The gold and silver mineralization appears to be a later 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 (Figure 1). 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 1:
Drill Hole Collar Locations– Mineralized Structures (San Juan Area) (CNW Group/GR Silver
Mining Ltd.)
Table 3: Drill Hole Location
Hole No.
East
North
RL
Azimuth
Dip
Depth (m)
LRD-31
448237
2550670
975.3
0
-90
178.65
LRD-46
448179
2550631
927.0
270
-65
76.25
LRD-54
448215
2550657
936.0
0
-90
147.70
SJS-03
448216
2550681
896.1
0
-90
88.50
SJS-05
448177
2550684
895.1
315
-45
75.00
SJD-17
448197
2550680
896.1
270
-70
270.00
SJS-29
448235
2550716
974.1
0
-90
234.70
SJD-10
448264
2550754
980.6
0
-90
238.80
SJD-11
448498
2550949
1053.5
255
-68
482.70
SJS18-06
448499
2550947
1053.1
217
-63
437.50
SJS18-07
448274
2550748
985.8
322
-78
300.95
All numbers are rounded.
These latest drill results indicate expansion of high-grade silver-gold mineralization for the
San Juan
area in addition to previously announced results. The Company is also evaluating all exploration
information related to 16 additional epithermal veins identified on the Plomosas Project property,
aiming to define new drilling targets.
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.
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For further information:
+1 (604) 202 3155, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 04-MAY-20