GR Silver Mining Ltd (CVE:GSRL) (OTCQB:GLYXF) reported high grade silver intercepts as a result of recent drilling at its Plomosas silver project in Mexico.
The results from the San Juan target area on the property include 3.5 metres at 1,419 grams per ton silver and 15.5 grams per ton gold, which represents 2,930 grams per ton silver equivalent.
The intercept represents a new near-surface mineralized system sub-parallel to similar mineralization found as a result of sampling of the San Juan underground workings, which returned up to 6,128 grams per ton (g/t) silver over 0.2 metres.
READ: GR Silver reports high-grade silver and gold intercepts from recently acquired Plomosas project
It also confirmed that mineralization extended up to 300 metres down dip from the same recent samples at San Juan.
Another intercept from the polymetallic deposit included 15 metres at 108 g/t silver, 0.12 g/t gold, 4.7% zinc and 1.9% lead accounting for 361 g/t gold equivalent ounces.
GR Silver CEO Marcio Fonseca said that the “significant results” demonstrate district-scale potential for high-grade silver-gold veins within the Plomosas project.
“The results also indicate potential for bulk tonnage polymetallic mineralization,” Fonseca said in a statement.
“The drill results suggest continuous high-grade vein/breccia mineralization hosted by major regional structures with true thickness ranging from 2.5 m up to 20 m. We can trace the San Juan regional structure on surface for over 2 km within an altered and mineralized trend.”
The identification of multiple subparallel secondary structures supports the upside potential for new discoveries, according to Fonseca, who told investors it is the first time the recent and historical results from San Juan have been released publicly.
“We continue to review and validate the remaining drill holes from the Plomosas Project, aiming to provide additional drill results for San Juan and the other five zones as we progress."
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