GR Silver's Surface Infill Drilling Delivers Wide, High-grade Results at Plomosas: 24.2 m at 1,094 g/t Ag, including 0.6 m at 7,178 g/t Ag in PLS22-005A
GR Silver's Surface Infill Drilling Delivers
Wide, High-grade Results at Plomosas:
24.2 m
at 1,094 g/t Ag, including 0.6 m at 7,178 g/t Ag
in PLS22-005A
VANCOUVER, BC
,
April 27, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces wide and high-
grade silver (Ag) results from its surface infill drilling program at the Plomosas Project in Sinaloa
State,
Mexico
. These Ag-rich drilling results are part of the Phase I surface infill drilling program
initiated in
December 2021
at the Plomosas Mine Area, targeting intervals on the upper levels of the
historical Plomosas underground mine where unsampled intervals of historical drill holes within the
mineralized zone were assigned zero values, and hence affected the grade of model blocks, in the
2021 NI 43-101 mineral resource estimation.
Highlights:
Phase 1 drilling has defined wide, high-grade predominantly Ag-rich mineralization in the
upper levels (up to
160 m
below surface) of the historical Plomosas Mine.
High-grade Ag results (Table 1) include:
PLS22-05A:
24.2 m
at 1,094 g/t Ag (1,180 g/t AgEq
1
), including
0.6 m
at 7,178 g/t Ag (7,367 g/t AgEq)
PLS22-06:
18.2 m
at 289 g/t Ag (297 g/t AgEg), including
5.4 m
at 690 g/t Ag (701 g/t AgEq)
PLS22-04:
13.2 m
at 410 g/t Ag (505 g/t AgEq), including
2.8 m
at 1,323 g/t Ag (1,447 g/t AgEq)
PLS21-36:
9.8 m
at 541 g/t Ag
PLS21-38:
9.6 m
at 486 g/t Ag
Closely spaced drilling at Plomosas, with line spacing averaging 50 to
100 m
, was
designed to obtain representative Ag grades to improve the resource block model.
High-grade Ag results suggest potential to significantly increase grade in some areas of
the resource model, and hence improve the average
Ag grades for the Company's next resource estimation at Plomosas (Figure 1).
____________
1
see
Table 1 footnote
GR Silver Mining Chairman and CEO,
Eric Zaunscherb
commented,
"From the time of the
release of the Technical Report for the Plomosas Project in
October 2021
, it was clear that new
infill drilling could offer the opportunity to improve the grade of the mineral resource estimate by
addressing un-sampled or under-sampled areas in the block model. In addition to the expansion of
mineralization to depth and along strike at San Marcial, it is GR Silver's priority to address the
questions about grade at the Plomosas Mine. After-all, historical production at the Plomosas Mine
amounted to
2.5 M
tonnes averaging 190 g/t Ag, 0.92 g/t Au, 2.0% Zn and 2.4% Pb. It is deeply
satisfying to see the ongoing infill drill program demonstrating grades materially higher than
interpolated in the resource model, and over attractive widths."
Figure 1:
Longitudinal Section Plomosas Mine Surface Infill Drilling Results – Ag Block Model (CNW
Group/GR Silver Mining Ltd.)
Plomosas Mine Area - Resource Expansion Program
The infill drilling program at the Plomosas Mine Area commenced in
December 2021
and is ongoing.
Initially focussing on holes drilled to access unmined areas close to surface, the program is now
progressing with a focus on underground infill drilling with three drill rigs.
Surface Infill Drilling
The initial surface infill drilling program was designed to test unmined areas of the Plomosas Mine,
located up to
160 m
below surface (862 RL to 1025 RL) (see Table 2). The targeted areas are
located between old workings and represent sections of the 2021 resource block model where
historical drill holes were designated zero grades, resulting in the interpolation of low-grade blocks
within the resource model. The infill drilling program has a surgical approach using drill rigs with the
capacity to drill NQ and BQ diameter holes in selective and tight underground sites.
The successful surface infill drilling program has potential to support a significant expansion of high-
grade Ag mineralization at the Plomosas Mine. A total of nine holes have been completed on surface
to date in 2022. Major highlights from the initial six 2022 holes, and four 2021 holes, are summarized
in Table 1. These intervals confirm consistent high-grade Ag mineralization in areas of previously
unsampled historical drill hole intervals, where a zero Ag grade was applied in the NI 43-101 report
issued on
October 8, 2021
. The results also confirm the presence of predominantly high-grade Ag
zones close to the surface in unmined areas (Figure 1).
Additional drilling is anticipated, as part of the current underground infill drilling program. Upon
completion of the 2022 drill program, the Company anticipates commencing a resource upgrade for
the Plomosas Mine Area.
Underground Infill Drilling
As a result of the Company's underground mapping and sampling program in the Plomosas Mine
over the past six months, the Company is confident that high-grade Ag mineralization can be defined
where the NI 43-101 resource block model currently has interpolated low-grade Ag material. The
total infill drilling program currently scheduled for 2022 anticipates drilling a total of
7,300 m
,
between surface and the 775 level, which is
250 m
below the surface. The existing underground
infrastructure within the Plomosas Mine, including ramps and galleries, provides flexibility and
optimization of the program, avoiding additional underground development.
Infill Program – Discussion of Results
The drill holes PLS22-03, PLS22-04, PLS22-05A and PLS22-06 targeted the mapped high-grade Ag
mineralization, which was identified on surface, with underground continuity, when validating the
current resource model. The Ag resource model displayed low-grade Ag mineralization and was
inconsistent with the high-grade mineralization the Company encountered during the mapping
process. All four holes indicate the presence of multiple hydrothermal zones with Ag results >1,000
g/t Ag hosted by a wide hydrothermal breccia with consistent mineralization over its length.
PLS22-05A achieved an exceptional Ag-rich interval comprising
24.2 m
at 1,094 g/t Ag. Within this
interval, results are consistently high-grade, with individual samples up to 7,117 g/t Ag reinforcing the
presence of high grades in sections of the current resource model where the Company believes that
the interpolated Ag grades are underestimated (Figure 2).
Figure 2:
Plomosas Block Model Cross Section A-A' with Surface Infill Drilling (CNW Group/GR
Silver Mining Ltd.)
Table 1: Plomosas Mine Area - Drill Results
Drill Hole
From (m)
To (m)
Apparent
width
(m)
True
width
(m)
Ag g/t
Au
g/t
Pb
%
Zn
%
AgEq
*
(g/t)
PLS22-01
na
PLS22-02
147.00
150.0
3.0
2.3
1
0.67
na
0.2
71
PLS22-03
64.6
66.0
1.4
0.9
435
0.01
1.1
5.1
663
94.0
95.2
1.2
0.9
805
na
4.2
5.6
1,140
105.0
112.2
7.2
4.5
257
0.01
0.3
0.4
282
includes
105.0
108.9
3.9
3.2
334
na
0.4
0.5
365
119.4
131.5
12.1
9.0
96
0.11
0.2
0.4
127
includes
120.0
123.7
3.7
2.8
176
0.07
0.3
0.4
206
150.0
157.6
7.6
5.8
20
0.22
0.8
0.8
94
PLS22-04
55.9
69.1
13.2
8.5
410
0.30
1.0
1.0
505
includes
55.9
63.0
7.1
4.6
720
0.34
1.0
1.2
826
includes
56.6
59.4
2.8
1.8
1,323
0.42
1.9
0.8
1,447
PLS22-05
Cancelled, re-drilled as PLS22-05A
PLS22-05A
87.4
118.6
24.2
19.5
1,094
0.05
1.1
1.3
1,180
includes
93.8
96.0
2.2
1.4
2,567
0.01
0.9
1.2
2,640
includes
95.4
96.0
0.6
0.4
7,178
na
2.6
3.0
7,367
99.6
108.6
9.0
6.9
1,521
0.03
1.2
1.6
1,619
118.6
161.0
42.4
30.5
12
0.28
1.0
0.8
97
PLS22-06
94.5
112.7
18.2
16.0
289
0.01
0.1
0.1
297
includes
107.3
112.7
5.4
4.8
690
0.01
0.1
0.2
701
includes
107.3
108.5
1.2
1.1
1,331
0.01
0.2
0.3
1,349
PLS21-36
21.7
28.5
6.8
5.9
87
na
0.1
0.2
98
39.0
55.8
16.8
15.7
238
0.08
0.1
0.1
252
includes
45.1
54.9
9.8
6.6
541
0.18
0.1
0.2
568
95.0
115.5
20.5
16.5
8
0.20
na
0.1
30
PLS21-37
39.0
69.5
30.5
20.5
2
0.20
0.1
0.1
27
PLS21-38
100.5
114.0
13.5
9.5
372
na
0.1
0.1
379
includes
111.0
111.8
0.8
0.5
3,917
na
0.4
0.2
3,936
118.5
124.5
6.0
5.3
50
0.01
na
na
51
PLS21-39
na
"na" = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.
* AgEq calculations using US$20.00/oz Ag, US$1,600/oz Au, US$0.90/lb Pb and US$1.10/lb Zn, with metallurgical recoveries of Ag – 74%, Au – 86%, Pb – 69% and Zn – 75%.
AgEq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb price x Pb recovery) + (Zn grade x Zn price x Zn recovery))/(Ag price x Ag
recovery)
Drill holes PLS21-36 and PLS21-37, as well as PLS21-38 (Figure 3) are located adjacent to mined
areas where a low density of historic drilling resulted in only low-grade Ag mineralization being
allocated to the relevant blocks within the current NI 43-101 model. There is a predominance of Ag
and an absence of base metal mineralization (Pb-Zn) in the hydrothermal breccias intersected by
these drill holes, as illustrated by PLS21-36 with
9.8 m
at 541 g/t Ag.
The drill hole PLS21-39 is located at the northern end of the current resource model and
encountered intensive hydrothermal alteration, however cross-cutting faults appear to displace the
main Plomosas Breccia at this extremity. Recent surface mapping in an area named
Las Cuevas
,
immediately 1.3 km north of this hole location, has recently identified the presence of mineralization
on surface and additional drilling is being considered to better delineate the Ag mineralization beyond
the current northern limit of the existing NI 43-101 resource model.
Drill holes PLS22-01 and PLS22-02 are located in the vicinity of a small historical underground
development named Plomositas. Preliminary drilling results at Plomositas indicate the presence of
gold-bearing structures up to
3.0 m
wide and potential displacement of the main Plomosas Breccia,
at the northern end of the current resource model, resulting from E-W regional faulting.
Figure 3:
Plomosas Block Model Cross Section B-B' with Surface Infill Drilling (CNW Group/GR
Silver Mining Ltd.)
Table 2: Plomosas Mine Area - Surface Infill Drill Hole Details
Drill Hole
East (m)
North (m)
RL (m)
Dip (
˚
)
Azimuth
(
˚
)
Depth (m)
Results
Status
PLS22-01
451620
2552273
926
-90
0
45.0
Received
PLS22-02
451562
2552331
977
-90
0
180.0
Received
PLS22-03
451377
2551811
986
-90
0
180.0
Received
PLS22-04
451457
2551948
974
-90
0
72.0
Received
PLS22-05A
451405
2551933
999
-90
0
190.5
Received
PLS22-06
451432
2551691
1000
-90
0
113.2
Received
PLS21-36
451456
2551949
973
-90
0
115.5
Received
PLS21-37
451483
2552239
924
-80
90
124.5
Received
PLS21-38
451382
2551718
1014
-90
0
124.5
Received
PLS21-39
451487
2552279
946
-85
90
162.0
Received
Note: all holes drilled from surface targeting unmined areas where the Company previously adopted zero values on unsampled areas in the 2021 resource estimation or in areas
with insufficient drilling, requiring additional data for geological/mineralization modelling.
CORPORATE UPDATE
GR Silver Mining announces it has received TSX-V approval to the shares for debt transactions
previously announced on
April 14, 2022
, and consequently has issued 136,909 common shares to
settle debt of
$33,542.87
. All shares issued in conjunction with the debt settlements are subject to a
hold period expiring
August 26, 2022
, in accordance with applicable securities laws and the policies
of the TSX-V.
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.
Eric Zaunscherb
Chairman & 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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%SEDAR: 00040149E
For further information:
Brenda Dayton, VP Corporate Communications, Telephone:
+1.604.558.6248, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 19:53e 27-APR-22