GR Silver Mining (TSX-V:GRSL) has announced positive results from two more step-out holes outside the resource estimate boundary at its Plomosas Project in Sinaloa, Mexico, with the highlight being 35.2 metres (m) at 134 grams per ton (g/t) silver (Ag), including 3.3m at 506 g/t Ag and 0.9m at 1,412 g/t in hole SMS23-03.
The company noted that hole SMS23-04 revealed 15m at 32 g/t Ag.
GR Silver said the drilling program aims to extend the SE Area discovery silver mineralization style and identify the commonly mineralized contact zone at shallow depths, adding that the positive results continue to encourage it on the potential to extend the mineral resource along strike and down-dip in the SE Area Discovery Zone, San Marcial Area.
From the original 300m strike length of the SE Area discovery that was incorporated into the mineral resource, GR Silver said it has drilled and identified an additional 450m of wide shallow silver mineralization along the prospective Target Contact.
"Our current drill program is successfully demonstrating that wide, shallow, silver mineralization extends to the southeast from the SE Area discovery,” the company’s chair and CEO Eric Zaunscherb said in a statement.
“We look forward to committing to the 12,500-metre drill program that has been recommended, pending board approval, that will further test this highly prospective target area."
The company said it has now completed six drill holes and will have all assays received by August 2023.
The Target Contact will be the focus of its surface exploration program over the coming months, particularly in areas coincident with silver anomalies from surface geochemical sampling and the company's 2021 ground geophysical survey, it added.
VP departure
The company also announced the departure of its vice president of exploration and corporate development, Trevor Woolfe, who will be returning to Australia after he leaves the company on June 30, 2023.
Woolfe, who joined GR Silver in July 2018, has been an important member of the geological team as its understanding of mineralization at the Plomosas Project and, consequently, its mineral resource inventory, have grown, it added.
The company’s president and chief operating officer Marcio Fonseca will take on most of Woolfe's responsibilities, supported by general manager Alejandro Cano Cabello, a mining and metallurgical engineer with extensive experience in the development and operation of exploration and mine projects in Mexico, as well as exploration manager Luis Coto, who has 20 years of experience, including large epithermal systems with known deposits in Latin America, and experienced geological staff who discovered the SE Area at the San Marcial.
The Plomosas Project, situated in southern Sinaloa, is an emerging high-grade silver district. The project benefits from existing infrastructure, road access, and permits from past-producing mining sites.
GR Silver Mining controls two past producer precious metal mines and holds a portfolio of exploration targets within the expanded Plomosas Project, totaling over 75 kilometres in strike length.
Contact the author at stephen.gunnion@proactiveinvestors.com