GR Silver Mining Reports High-Grade Silver- Gold Drill Results at Plomosas 11.0 m at 1,235 gpt Ag, including 2.3 m at 2,600 gpt Ag and 1.7 m at 4,209 gpt Ag 3.7 m at 1,469 gpt Ag, including 1.8 m at 2,827 gpt Ag 23.9 m at 3.6 gpt Au, including
GR Silver Mining Reports High-Grade Silver-
Gold Drill Results at Plomosas
11.0 m
at 1,235 gpt Ag, including
2.3 m
at 2,600 gpt Ag and
1.7 m
at 4,209 gpt Ag
3.7 m
at 1,469 gpt Ag, including
1.8 m
at 2,827 gpt Ag
23.9 m
at 3.6 gpt Au, including
1.0 m
at 43 gpt Au
VANCOUVER, BC
,
June 22, 2020
/
CNW/ -
GR Silver Mining Ltd. (TSXV: GRSL), (FRANKFURT:
GPE), (OTCQB: GRSLF) ("GR
Silver Mining" or the "Company")
–
is pleased to announce drill results at its 100%-owned Plomosas Silver Project ("Plomosas Project")
in
Sinaloa, Mexico
. These results are located in the Plomosas Mine Area, one of six priority areas
with a combination of recent (2016 to 2018) and historical drill data being released by the Company.
These drill hole results show high-grade silver and gold mineralized zones outside of the previously
mined polymetallic (Pb-Zn-Ag-Au) mineralization in the Plomosas Mine Area. The Au-Ag enriched
veins and breccias occur in vertical and shallow-dipping fault zones on the footwall and hanging wall
of the existing polymetallic mineralized zone, revealing potential extensions for a future resource
estimation. The results also confirm the continuity of the polymetallic mineralized zone down dip and
along strike outside the previously mined areas. The drill section discussed in this news release is a
step-out section,
400 m
north (Figure 1) of drill holes reported in the previous news release (see
News Release dated
May 13, 2020
).
GR Silver Mining President and CEO,
Marcio Fonseca
, commented
,
"We continue to
systematically review the extensive un-released historical and recent drill hole database at the
Plomosas Silver Project. The review confirms the presence of high-grade Au-Ag zones, which
were not previously explored and evaluated by previous owners, nor integrated into a resource
estimation. Most of the new mineralized veins are accessible through existing underground
development, which facilitates planning of additional underground drilling and provides
opportunities for new discoveries. The company has reviewed 51 drill holes at the Plomosas Mine
Area to date and 256 drill holes remain to be validated. The validated drill holes are already
integrated into a 3D database allowing interpretation of a wide footprint of high-grade multiple
veins and hydrothermal breccias.
Our ongoing investigations along the 8,000 m of underground tunnels at the Plomosas Mine Area,
including geological/structural mapping and sampling, continue to reveal new mineralized zones.
These new zones demonstrate that mineralization is not only hosted within a single high-grade
structure but within multiple cross-cutting shallow and vertical structures. The Company has also
encountered evidence of multiple mineralization styles (massive sulphide Pb-Zn lenses, brecciated
and stockwork polymetallic mineralized systems and strong gold-silver rich quartz veined
mineralized zones) during recent underground investigations, which are currently being integrated
into the Plomosas Mine Area 3D model.
"
Figure 1: Drone Image of the Plomosas Mine Area (looking to the NW) (CNW Group/GR Silver
Mining Ltd.)
Table 1 summarizes the most significant drill assay results for this third group of holes released for
the Plomosas Mine Area.
Table 1: Summary Drill Hole Results - News Release
June 22, 2020
(Plomosas Mine Area)
Hole No.
Type
From (m)
To (m)
Drilled
width (m)
Est. true
width (m)
Ag g/t
Au g/t
Pb %
Zn %
AgEq g/t
218
Surf.
5.9
21.8
15.9
14.6
46
1.0
1.7
2.2
269
includes
5.9
9.7
3.8
3.5
183
4.3
6.4
7.9
1,057
233
Surf.
176.9
178.4
1.5
1.4
77
4.6
0.07
1.0
580
236
Surf.
79.8
85.8
6.0
5.4
326
1.9
0.7
1.2
573
includes
79.8
81.9
2.1
1.9
900
2.9
1.9
3.2
1,349
242
Surf.
64.5
67.8
3.3
2.1
349
0.4
2.3
1.3
502
246
Surf.
39.7
40.6
0.9
0.9
182
0.2
0.5
1.0
235
250
Surf.
123.9
136.2
12.3
6.2
23
1.9
0.3
1.5
267
253
Surf.
112.2
123.2
11.0
7.5
1,235
0.2
0.8
1.9
1,335
includes
113.9
116.2
2.3
1.2
2,600
0.1
1.4
3.6
2,755
includes
119.3
121.0
1.7
0.9
4,209
0.5
1.8
5.6
4,475
130.0
145.0
15.0
7.5
9
1.1
0.4
1.2
includes
137.6
139.4
1.8
1.8
45
0.5
1.0
1.4
164
162.8
165.6
2.8
1.4
10
2.2
0.1
0.3
258
Surf.
166.8
170.5
3.7
2.7
1,469
0.5
2.2
3.2
1,680
includes
166.8
168.6
1.8
1.3
2,827
0.5
2.8
4.6
3,098
170.5
194.4
23.9
17.4
4
3.6
0.01
0.1
includes
170.5
171.5
1.0
0.7
17
43.0
0.03
0.07
259
Surf.
205.7
213.5
7.8
5.2
11
2.6
0.1
0.1
232.0
235.4
3.4
2.2
398
0.01
0.3
0.7
427
236.5
271.8
35.3
22.7
6
1.0
0.1
0.2
275.3
275.9
0.6
0.4
1,285
0.5
0.8
1.6
1,410
265
Surf.
249.2
258.5
9.4
6.6
13
0.4
0.02
0.04
269
Surf.
209.2
210.4
1.2
0.8
6
4.0
0.01
0.2
270
Surf.
24.5
25.5
1.0
0.8
4
2.2
0.02
0.2
204.2
204.4
0.2
0.1
50
0.1
16.8
10.0
909
208.9
209.5
0.6
0.5
68
0.2
2.8
13.5
554
232.0
239.6
7.6
6.2
105
0.6
1.1
2.0
257
274
Surf.
244.4
284.4
40.0
32.8
32
0.9
0.8
0.8
177
includes
267.2
270.9
3.7
3.0
57
6.1
3.9
2.0
869
218-A
Surf.
4.0
14.0
10.0
9.8
28
0.7
4.2
0.9
272
PLI17-28
UG
66.4
81.4
15.0
13.0
13
2.8
0.5
1.4
351
includes
73.9
77.0
3.1
2.7
41
10.4
0.9
3.8
1,244
83.7
89.7
6.0
5.2
5
1.9
0.1
0.1
PLI17-31
UG
55.2
68.8
13.6
11.7
8
1.7
0.4
0.7
includes
63.1
64.7
1.6
1.4
19
10.5
0.5
0.7
1,133
PLI17-37
UG
62.9
71.9
9.0
7.9
29
0.1
0.6
1.4
158
PLI17-39
UG
50.7
59.4
8.7
8.7
39
0.4
1.2
1.4
159
94.4
95.9
1.5
1.5
53
1.0
0.01
0.02
159
PLSS18-01
Surf.
358.1
363.2
5.1
5.1
16
0.1
1.6
2.0
142
*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. Surf.
(Surface Core Drill Hole), UG (Underground Core Drill Hole).
The existing drill holes for the Plomosas Project were generated by drill campaigns completed by
First Majestic Silver Corp. ("First Majestic") between 2016-2018 and Grupo Mexico between 1982-
2000. They both form an extensive surface and underground core drilling 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 targeting new mineralized zones down dip and along strike from the surface and underground
sites. GR Silver's QA/QC protocol dictates that 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 historical drill hole intervals previously not sampled ("NS") for this third group
of holes released for the Plomosas Mine Area.
Table 2: Plomosas Mine Area Drill Holes – Historical Drill Hole Intervals Not Sampled (Intervals
greater than
20m
)
Hole No.
From-To (m)
Sampling
Hole No.
From-To (m)
Sampling
236
0-41.7
NS
269
0-81.8
NS
242
0-44.0
NS
269
84.3-114.2
NS
246
0-36.0
NS
269
122.35-147.6
NS
250
0-75.1
NS
270
0-24.5
NS
253
0-65.7
NS
270
25.5-53.5
NS
258
0-113.0
NS
270
54.5-204.2
NS
259
0-105.3
NS
274
0-106.4
NS
259
153.8-191.5
NS
274
118.1-150.0
NS
218-A
30.35-53.3
NS
274
154.3-230.3
NS
PLI17-28
0-65.5
NS
PLI17-31
114.75-136.9
NS
PLI17-28
104.45-155
NS
PLI17-37
0-63.0
NS
PLI17-30
0-44.1
NS
PLI17-37
102.6-126.4
NS
PLI17-30
78.2-111.7
NS
PLI17-39
0-40.5
NS
PLI17-30
124.75-150.3
NS
PLI17-39
63.45-93.2
NS
PLI17-31
0-42.9
NS
PLSS18-01
0-310.0
NS
265
0-96.1
NS
PLSS18-01
312.6-349.2
NS
All numbers are rounded. NS - Core not assayed by First Majestic and Grupo Mexico
The company is currently re-logging and sampling potentially mineralized zones in the existing (non-
sampled) core available on site, aiming to integrate the results into the current drilling database.
The preliminary review and integration of all data has indicated the presence of two significant
mineralized structures.
The first contains higher lead, zinc and silver concentrations with strike N10E-NS and dip 40⁰, mostly
sub-parallel to the main shallow Plomosas Fault (Figure 2). Massive sulphide silver-rich lenses
(sphalerite, galena and minor chalcopyrite) are common occurrences in this mineralized structure (
Link to Photos
). The mineralization style is hosted preferentially in pyroclastic flows, volcanic
breccias and fractured rocks, and it preferentially favours andesite breccias. It appears to form a
series of bodies 50 -
80 m
long by 40 -
60 m
wide and varied thickness, due to pinch-swell geometry
visible in the underground workings.
The second type of mineralized structures show banded and drusy quartz, strong silicification,
networks of quartz veinlets and quartz breccias, containing significant gold and silver values and low
lead and zinc content. They are represented by two systems with a general orientation N40E and
N40W and variable dip angles, from 50⁰ to 70⁰.
The Company continues to validate all core assay results in the extensive Plomosas drill hole
database, with the objective to fully integrate them into the 3D Model. Other ongoing site activities
include underground mapping and sampling of the Plomosas Mine Area, drill core sampling and
assaying, and initial bulk sampling of selected underground areas for future metallurgical testwork.
Additionally, the Company is advancing discussions with drill contractors to initiate a drilling program
on the existing zones and drill targets in the near future.
Figure 2: Cross Section - News Release 22/6/2020 - Drill Hole Collar Locations – Mineralized
Structures (Plomosas Mine Area) (CNW Group/GR Silver Mining Ltd.)
Table 3: Drill Hole Locations – Plomosas Mine Area (News Release 22/6/2020)
Hole No.
East (m)
North (m)
RL (m)
Az.
Dip
Depth (m)
218
451586
2552252
932
0
-90
93
233
451494
2552246
952
0
-90
207
236
451443
2552242
960
0
-90
233
242
451503
2552208
955
308
-60
133
246
451491
2552208
952
128
-70
151
250
451459
2552121
958
310
-50
200
253
451485
2552184
952
315
-45
194
258
451404
2552189
1000
308
-75
219
259
451404
2552189
1000
308
-60
280
265
451430
2552178
977
308
-73
259
269
451344
2552172
1030
0
-90
244
270
451344
2552172
1030
308
-80
285
274
451344
2552172
1030
308
-72
285
218-A
451586
2552252
932
68
-50
76
PLI17-28
451180
2552226
798
76
-35
155
PLI17-31
451179
2552227
798
60
-40
137
PLI17-37
451180
2552224
798
120
-35
141
PLI17-39
451180
2552224
798
105
-65
121
PLSS18-01
451201
2552308
1134
123
-53
407
All numbers are rounded.
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 recent drill holes completed by First Majestic from 2016 to 2018, 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 by an
independent laboratory 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 reviewed information related to the historic Grupo Mexico drill holes and
believes the results are of sufficient quality and suitable for disclosure. GR Silver Mining has not
verified the results. The following drill holes were drilled by Grupo Mexico, 218, 233, 236, 242, 246,
250, 253, 258, 259, 265, 269, 270, 274 and 218-A.
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.
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 22-JUN-20