GR Silver Mining Reports High-Grade Silver Drill Results From the San Juan Area, Plomosas Silver Project 1,181 gpt AgEq 1 over 3.1m (846 gpt Ag, 0.8 gpt Au, 2.7% Pb and 6.0% Zn) includes 3,224 gpt AgEq over 1.1m (2,300 gpt Ag, 2.1 gpt Au, 7.6% Pb and 16.3% Zn)
GR Silver Mining Reports High-Grade Silver
Drill Results From the San Juan Area,
Plomosas Silver Project
1,181 gpt AgEq
1
over
3.1m
(846 gpt Ag, 0.8 gpt Au, 2.7% Pb and 6.0% Zn) includes 3,224
gpt AgEq over
1.1m
(2,300 gpt Ag, 2.1 gpt Au, 7.6% Pb and 16.3% Zn)
1,120 gpt AgEq over
2.7m
(931 gpt Ag, 0.1 gpt Au, 1.9% Pb and 4.0% Zn) includes 1,566
gpt AgEq over
1.4m
(1,478 gpt Ag, 1.3% Pb and 1.6% Zn)
755 gpt AgEq over
3.5m
(737 gpt Ag, 0.1 gpt Au, 0.1% Pb and 0.3% Zn)
720 gpt AgEq over
4.8m
(563 gpt Ag, 0.3 gpt Au, 1.6% Pb and 2.7% Zn)
VANCOUVER, BC
,
July 24, 2020
/CNW/ -
GR Silver Mining Ltd.
(TSXV: GRSL) (FRANKFURT:
GPE) (OTCQB: GRSLF)
("GR
Silver Mining" or the "Company")
– is pleased to report high-
grade drill results from the San Juan-La Colorada Area at its 100%-owned Plomosas Silver Project
("Plomosas Project") in
Sinaloa, Mexico
.
These drill results highlight continuity of high-grade silver mineralized zones in a
100 m
step out from
a previously released section of drill hole results at the
San Juan Area
(Figure 1). These latest
results define a mineralized strike length for the the low sulphidation epithermal system of up to
1,000 m
(see
News Release dated
July 7, 2020
). This news release features results from 17
diamond core holes drilled by previous companies and not previously released. The cross section
containing these results establishes a high-grade continuous zone of Ag-rich polymetallic breccia,
along a shallow dipping fault for approximately
400 m
down dip. In addition, the drill results continue
to confirm silver-gold mineralized zones hosted by multiple high angle faults (
link to cross section
).
The results of the 17 drill holes indicate the possible extension of the San Juan-La Colorada Area
towards the
San Francisco Area
to the south, supporting the presence of a much larger low
sulphidation epithermal Ag-Au rich system (Figure 2).
The mineralized veins and hydthermal breccias appear to be proximal to each other in subparallel
structures, a feature typical of low sulphidation epithermal systems. The concentration of multiple
veins, in combination with increased continuity along strike and down-dip, represents an attractive
target for future resource delineation.
_____________________________
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 90% Ag, 95% Au, 78% Pb and 70% Zn.
GR Silver Mining President and CEO,
Marcio Fonseca
, commented,
"The Company has
prioritized the validation of the drill holes at the San Juan-La Colorada Area, focusing on
expansion of mineralization along strike and down-dip. These latest results confirm high-grade
mineralization extending to the S towards the
San Francisco Area
, suggesting potential to outline a
large low sulphidation epithermal system with at least a
1000 m
strike length".
Figure 1: Drone Image of the San Juan-La Colorada Area (looking to the NW) - Drill Hole Location
Map (CNW Group/GR Silver Mining Ltd.)
The Company is advancing the rehabilitation of the historical
San Juan
underground workings, while
continuing with geological and structural mapping/sampling. An improved understanding of the
mineralized systems, which consists of a set of multiple structures hosting high-grade Ag-Au
mineralization, has resulted in the definition of new drill targets. Detailed mapping by GR Silver
Mining has identified down plunge extensions of previously released high-grade silver intercepts in
polymetallic hydrothermal breccia (see
news release dated
April 2, 2020
). In the lower levels of the
historically developed
San Juan
workings, massive argentite, galena and sphalerite zones have been
mapped similar to the previously released high-grade silver zones which included results such as
0.4
m
at 4,698 g/t Ag and
0.2 m
at 6,128 g/t Ag.
Figure 2: San Juan-La Colorada -San Francisco Area - Drill Hole Location Map - (CNW Group/GR
Silver Mining Ltd.)
Table 1 summarizes the most significant drill assay results for this set of 17 drill holes released for
the San Juan-La Colorada Area.
Table 1: Summary Surface Drill Hole Results - News Release
July 27, 2020
(San Juan-La
Colorada Area)
Hole No.
From
(m)
To
(m)
Drilled
width
(m)
Est.
true
width
(m)
Ag g/t
Ag g/t
Pb %
Zn %
AgEq
g/t
LRD-28
38.9
43.7
4.8
3.8
563
0.3
1.6
2.7
720
LRD-29
218.8
225.0
6.2
5.0
144
0.0
0.3
0.8
177
LRD-41
37.3
39.4
2.1
1.7
42
0.2
0.8
2.4
152
LRD-59
71.2
74.3
3.1
2.5
846
0.8
2.7
6.0
1,181
includes
71.2
72.3
1.1
0.9
2,300
2.1
7.6
16.3
3,224
LRD-62
58.9
60.1
1.2
1.0
91
0.4
3.8
5.8
425
LRD-65
50.5
51.7
1.2
1.0
178
1.3
3.9
12.5
784
LR2D-01
94.8
96.1
1.3
1.0
342
0.0
1.4
1.7
438
SJS-06
245.0
249.1
4.1
3.3
335
0.1
0.1
0.2
347
includes
248.6
249.1
0.5
0.4
2,154
0.1
0.2
0.3
2,178
251.5
252.9
1.4
1.1
110
0.1
0.1
0.1
125
SJS-09
301.1
308.1
7.0
5.6
363
0.1
0.8
1.9
457
includes
301.1
303.8
2.7
2.1
931
0.1
1.9
4.0
1,120
includes
301.1
302.5
1.4
1.1
1,478
na
1.3
1.6
1,566
SJS-10
287.1
300.5
13.4
10.7
226
0.0
0.3
0.3
247
includes
295.9
299.4
3.5
2.8
737
0.1
0.1
0.2
755
SJS-14
339.3
347.4
8.1
6.5
16
0.3
0.9
2.8
150
SJS18-04
283.6
287.5
3.9
3.1
262
0.1
0.7
2.6
366
291.5
292.3
0.8
0.7
193
0.0
0.2
0.4
213
314.4
314.8
0.4
0.3
96
0.1
2.8
3.9
312
SJS18-13
4.3
6.5
2.2
1.7
65
0.9
0.1
0.0
160
23.9
24.3
0.4
0.3
158
1.1
0.2
0.4
291
SJS-19
257.8
261.2
3.4
2.8
141
0.0
0.3
0.7
171
includes
257.8
259.4
1.6
1.3
271
0.0
0.5
1.1
318
278.8
279.9
1.1
0.9
254
0.0
0.2
0.5
274
SJS-21
221.2
223.3
2.1
1.7
105
0.6
0.3
0.4
184
SJS-25
301.6
305.2
3.6
2.9
50
0.1
1.8
4.6
248
includes
301.6
303.4
1.8
1.5
92
0.1
3.2
8.5
449
SJS-27
297.1
298.8
1.7
1.3
90
0.0
0.5
1.0
135
*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. UG:
Underground Drill Hole, SURF: Surface Drill Hole
The 17 drill holes in this news release were generated by a core drilling campaign completed by
First Majestic Silver Corp. ("First Majestic") in 2018 (SJS18-04 and -13), and historical drill holes
completed by Grupo Mexico. Neither of the drill sets were previously released. They are part of an
extensive surface and underground diamond core drilling database, which GR Silver Mining continues
to consolidate and validate.
Table 2 lists the drill hole intervals previously not sampled ("NS") for this group of released holes.
The Company continues investigating previous unsampled intervals for evidence of mineralization in
the core that warrants additional sampling and assaying. The Company recently announced a core
drilling program at the Plomosas Silver Project (see
news release dated
July 15, 2020
).
Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.
Table 2: San Juan-La Colorada Area - Drill Hole Intervals Not Sampled (Intervals greater than
20m
)
Hole No.
From-To (m)
Sampling
SJS17-13
0-173.95
NS
SJS17-13
191.35-218.5
NS
SJS17-13
233.55-331.7
NS
SJS17-15
0-197.9
NS
SJS17-15
208.25-253.4
NS
SJS18-04
0-270.75
NS
SJS18-04
317.95-375.55
NS
SJS18-12
48.2-82.5
NS
SJS18-12
113.4-145.0
NS
SJS18-13
33.0-64.75
NS
SJS18-13
129.0-186.3
NS
SJS18-13
191.3-247.5
NS
SJS18-13
249.6-282.0
NS
All numbers are rounded. NS - Core not assayed by First Majestic
Table 3: Drill Hole Locations – News Release
July 27, 2020
(San Juan-
La Colorada Area
)
Hole No.
East (m)
North (m)
RL (m)
Az.
Dip
Depth (m)
LR2D-01
448267
2550579
925
260
-90
192
LRD-28
448224
2550545
910
0
-90
44
LRD-29
448361
2550615
986
0
-90
234
LRD-41
448242
2550510
908
0
-90
43
LRD-59
448247
2550574
918
0
-90
81
LRD-62
448262
2550514
917
0
-90
78
LRD-65
448262
2550514
917
262
-62
57
SJS-06
448414
2550668
1025
0
-90
291
SJS-09
448520
2550764
1013
50
-65
333
SJS-10
448486
2550738
1032
256
-55
321
SJS-14
448520
2550764
1013
227
-80
352
SJS18-04
448426
2550707
1043
227
-80
376
SJS18-13
448517
2550752
1002
220
-78
357
SJS-19
448402
2550653
1018
326
-81
319
SJS-21
448402
2550652
1017
317
-73
310
SJS-25
448458
2550693
1031
207
-77
328
SJS-27
448516
2550721
1013
225
-69
325
All numbers are rounded.
The Company believes that the San Juan-La Colorada Area is similar to the Plomosas Mine Area,
consisting of Ag mineralization hosted in polymetallic hydrothermal breccias and steep angle Ag-Au
rich low sulphidation epithermal veins, commonly displaying argentite, galena and sphalerite that can
be observed in the drill core .
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 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 purposes.
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, 16 new exploration targets from which 11 have
high priority for future exploration programs.
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2020/24/c3582.html
%SEDAR: 00040149E
For further information:
+1 (604) 202 3155, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 24-JUL-20