GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) (FRA:GPE) posted encouraging drill results from its Plomosas silver project in Mexico, which it said continues to validate a potential large hydrothermal system at the Plomosas mine area.
Based on positive results, the group has added a rig and now has five drills turning - three at the Plomosas Mine Area and two at the San Juan Area.
READ: GR Silver Mining trumpets silver contrate levels in underground bulk sample from Mexico project
The initial 4,500 metres (m) surface core drilling program has also been increased to 11,900m, aiming to delineate a much larger initial resource footprint in both areas.
In a statement, chief executive Marcio Fonseca said current drilling had identified a wide mineralized corridor on the hanging wall of the Plomosas Fault, with attractive precious and base metals grades.
"Our integration of the recent and historic drilling data continues to define new Au-Cu-Ag-Pb-Zn mineralized structures and is discovering several attractive, near surface Pb-Zn zones. The integration of all data for the first time in a 3D-model, is a valuable exploration tool to maximize the opportunity to continue to drill and expand the footprint of the potential resource area."
Latest drill assay highlights include 4.2m at 778 grams per ton (g/t) gold-equivalent and 7.3m at 800 g/t gold-equivalent.
At Plomosas, the company earlier kicked off an 11,900m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas - the Plomosas Mine Area and the San Juan Area.
Both areas will be the subject of NI 43-101 resource estimates following completion of the drilling.
Plomosas is a past-producing asset, where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001.
The project spans 8,515 hectares and lies within 5km of the GR Silver's San Marcial Silver project in the southeast of Sinaloa State, Mexico.
Contact the author at giles@proactiveinvestors.com