GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) (FRA:GPE) has reported more positive drill results from its Plomosas project in Mexico, which have expanded the high-grade silver-gold bulk tonnage zones.
The latest assays come from the historic Plomosas mine area, and included results from lower levels of the mine area, where previous underground drilling has been limited. Here, assays included 159 grams per ton (g/t) of silver equivalent over 7m (m) from a depth of 343.6m.
Another highlight from the surface and underground program hit an intercept of 21m at a grade of 377 g/t silver, 0.23 g/t gold, 0.7 % lead and 1.5% zinc starting from a depth of 112m.
READ: GR Silver Mining hits high-grade, near surface mineralization at San Juan area at Plomosas project
The underground drill assays will be incorporated with existing historic drilling data ahead of the upcoming resource estimate on the Plomosas mine area. A second resource estimate is underway on the San Juan Area, which sits 2.5 kilometres (km) away. Both are earmarked to be released in the second quarter of 2021.
"Our surface and underground drilling program continues to expand the high-grade Ag-Au bulk tonnage zones at the Plomosas Mine Area," said GR Silver's CEO Marcio Fonseca.
"The lower levels of the historic Plomosas Mine had seen only limited drilling by previous operators, oriented primarily towards exploitation of only Pb-Zn mineralization rather than the high-grade Ag-Au mineralization recently being discovered by GR Silver Mining.
He added: "These results are evidence of the potential bulk tonnage scale of the high-grade mineralizing system at the Plomosas Mine Area.
"They also demonstrate the opportunities that lie ahead for the Plomosas project, with additional core drilling programs to follow the upcoming resource estimates."
GR Silver Mining believes that Plomosas represents a district-scale project and is carrying out an 11,900m drill program.
The company said the Plomosas Mine Area displays evidence of a 600m long epithermal system, potentially extending up to 1.2km, where multiple veins and discoveries have so far defined a much larger high-grade silver and gold mineralized footprint.
Plomosas, which spans an 8,515 hectares land position, is a past-producing asset, where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated a 600 tpd crush milling flotation circuit from 1986 to 2001, producing around 8 million ounces of silver, 73 million pounds of lead and 28 million pounds of zinc.
Contact the author at giles@proactiveinvestors.com