GR Silver Mining Ltd. (CVE:GRSL) (FRA:GPE) (OTCQB:GRSLF) has announced the appointment of Dr Honza Catchpole as its VP Exploration effective January 20, 2021.
The group noted that Dr Catchpole has extensive experience working in Mexico, USA, Canada, Andean South America and Europe, mainly with porphyry Cu, skarn (Zn-Pb-Ag-Cu), epithermal precious (Au-Ag) and base metal (Ag-Zn-Pb-Cu) deposits.
He has worked in project generation, exploration and project evaluation of precious metal and porphyry Cu projects for Teck Resources Limited, Vale Exploration Canada and Sumitomo Metal Mining Canada.
READ: GR Silver Mining reports wide and high-grade results from its Plomosas Silver Project in Mexico
GR Silver Mining said Dr Catchpole has been directly involved in designing, planning and executing drill programs, as well as managing greenfield and reconnaissance stage projects in Mexico. He comes to the company from Teck where he was project manager and geoscience lead at the San Nicolas VHMS deposit in Zacatecas, Mexico, currently at pre-feasibility stage. His background in geologic, alteration and structural mapping (surface and underground) in Andean volcanic arc settings with good understanding of hydrothermal alteration and mineralization is a valuable addition to the GR Silver Mining exploration team.
In a statement, GR Silver Mining president and CEO, Marcio Fonseca, commented: “We are very excited to have attracted a highly qualified geoscientist with extensive experience in large polymetallic silver mining districts and all key stages of successful exploration programs to join GR Silver Mining in Mexico.
"Dr Catchpole’s knowledge and experience working in Latin America’s world-class mining districts is a valuable component for the upcoming exploration program in our projects.”
The group added that concurrent with the appointment of Dr Catchpole, Trevor Woolfe is stepping down as VP Exploration and will remain with the company as VP Corporate Development.
GR Silver Mining also announced that under its 10% rolling stock option plan and in compliance with the policies of the TSX Venture Exchange, it has granted incentive stock options to certain directors, officers, consultants and employees of the company and its Mexican subsidiaries, to purchase up to an aggregate of 2,405,000 GR Silver Mining common shares.
These options are exercisable for a period of five years at a price of $0.74 per share. Of these options, 1,450,000 options granted to certain directors and officers of the company will vest as to one-third on the date of
grant, and a further third on each of the 1st and 2nd anniversaries of the date of grant.
The company said it has also negotiated a debt settlement with an arm's-length creditor. Under the agreement and subject to acceptance by the TSX Venture Exchange, the company has settled debt of US$82,500 (C$104,412) in consideration for which it will issue an aggregate of 141,097 common shares at a deemed price of C$0.74 per share.
GR Silver Mining is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa,
Mexico.
Contact the author at jon.hopkins@proactiveinvestors.com