GR Silver Mining Underground Drill Results Deliver Wide and High-grade Intervals, 38 m at 299 g/t Ag, Including 1,091 g/t Ag over 2.1 m and 1,002 g/t Ag over 3.5 m, Confirming Potential for Resource Expansion at San Marcial Area
GR Silver Mining Underground Drill Results
Deliver Wide and High-grade Intervals, 38 m at
299 g/t Ag, Including 1,091 g/t Ag over 2.1 m
and 1,002 g/t Ag over 3.5 m, Confirming
Potential for Resource Expansion at San
Marcial Area
VANCOUVER, BC
,
Jan. 31, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce
additional high-grade silver (Ag) results confirming consistently wide Ag intercepts from underground
diamond core drilling at the San Marcial resource expansion program, at the Plomosas Project,
Sinaloa, Mexico
. These assay results are from the fourth hole of an eight-hole program and indicate
the widening of the mineral body at depth and along strike. The successful drill hole confirms a
significant expansion of high-grade Ag mineralization approximately
170 m
down dip below the lower
limit of the San Marcial NI 43-101 mineral resource and approximately
70 m
along strike, to the SE
of hole SMI21-03 (see
News Release dated
January 17, 2022
) (Figure 1).
Highlights:
Ag results from SMI21-04
include:
299 g/t Ag over
38.0 m
from
154.0 m
downhole, including:
1,002 g/t Ag over
3.5 m
from
157.0 m
downhole, and
1,091 g/t Ag over
2.1 m
from
188.7 m
downhole
New wide intercepts of high-grade Ag mineralization
display strong continuity to support
future resource expansion below the current NI 43-101 mineral resource, which was
previously estimated to only
250 m
below surface.
The results show that significant high-grade Ag mineralization is hosted in brecciated
units in the hanging wall above the San Marcial Breccia, in new mineralized zones,
indicating the widening of the mineralized body at depth and along strike.
Results from the final four holes in this program are pending.
GR Silver Mining President and CEO,
Marcio Fonseca
commented
"The latest drill results from
the underground drilling program at San Marcial continue to impress, with the discovery of
increasingly wide Ag intercepts at shallow depth. This result, combined with the recent high-grade,
wide Ag intervals reported from drill hole SMI21-03, validates our model for the extension of the
San Marcial Breccia Ag mineralization, along strike and down dip. With samples from four drill
holes in the laboratory awaiting analysis, we are encouraged by the potential to receive more
positive assay results from the remainder of this initial underground drilling program."
Resource Expansion Program
The new assay results are part of the recently completed eight-hole (
2,436 m
) diamond drill
program, representing the first underground drilling at the San Marcial Area, targeting resource
expansion in 2022. The drilling success, which has demonstrated wide high-grade Ag mineralization
in multiple drill holes, SMI21-04 (Table 1) and SMI21-03, supports an attractive geological system
hosting solid tonnage potential at shallow depth.
The mineral intercepts reported for drill hole SMI21-04 (Table 1) confirm the continuity of wide Ag
mineralization at a depth of approximately
420 m
down dip from surface. Large sections of the
mineralized body are hosted by brecciated rock units above the main San Marcial Breccia body.
Mineralization of these units is related to late-stage quartz-calcite-sulphide veining which post-dates
the San Marcial Breccia. This new type of Ag mineralized breccia supports the potential for the Ag
mineralization widening at depth. Additionally, several new narrower Ag breccia bodies were
intercepted in the footwall below the breccia. These discoveries point toward the potential for
improving the volume of the mineralization at depth.
Figure 1:
Longitudinal section displaying “Ag Grade x Thickness” contours of the San Marcial NI 43-
101 resource model and new extensions to the mineralized body down dip and along strike (CNW
Group/GR Silver Mining Ltd.)
Significant results from SMI21-04 at San Marcial are shown in Table 1, below, while Table 2 lists
details of the drill hole collars for this drill program, and the drill holes with assays pending.
Table 1: San Marcial Drill Results – SMI21-04
Drill Hole
From (m)
To (m)
Apparent
width
(m)
True
width (m)
Ag g/t
Au g/t
Pb %
Zn %
SMI21-04
154.0
192.0
38.0
29.1
299
0.04
0.2
0.4
includes
154.0
160.5
6.5
5.0
614
0.02
0.2
0.2
includes
157.0
160.5
3.5
2.7
1,002
0.03
0.2
0.2
188.7
190.8
2.1
1.6
1,091
0.06
1.4
1.8
199.0
216.0
17.0
13.0
58
0.08
0.1
0.3
includes
205.0
206.0
1.0
0.8
376
0.07
0.1
0.3
"na" = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.
Table 2: San Marcial Underground Drill Hole Details
Drill Hole
East (m)
North (m)
RL (m)
Dip (˚)
Azimuth (˚)
Depth (m)
Results Status
SMI21-01
451033
2546021
818
-48
218
330
Received
SMI21-02
451033
2546021
818
-43
183
345
Received
SMI21-03
451033
2546021
818
-90
0
300
Received
SMI21-04
451033
2546021
818
-70
148
234
Received
SMI21-05
451033
2546021
818
-70
325
330
Pending
SMI21-06
451033
2546021
818
-50
285
255
Pending
SMI21-07
451033
2546021
818
-75
90
333
Pending
SMI21-08
451033
2546021
818
-80
360
309
Pending
Note: all holes drilled from the same underground drill platform
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 734 km
2
of concessions containing several structural corridors totaling over 75 km 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) accepts 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 06:00e 31-JAN-22