GR Silver Mining (TSX-V:GRSL) has kicked off a 1,500-metre (m) underground diamond drill program in a bid to expand the NI 43-101 resource estimate at the San Marcial project in Mexico.
This first phase of drilling will comprise six holes sunk from a platform at the end of the 280 m tunnel, from where it will be possible to test the San Marcial mineralized body at depth and along strike.
As reported in June last year, the San Marcial resource was pegged at 36 million ounces (Moz) of silver-equivalent in the high confidence indicated resources and 11.9 Moz of inferred silver-equivalent.
READ: GR Silver Mining says latest resource for Plomosas increases combined indicated silver equivalent ounces by 29%
"After finalizing the long-awaited tunnel extension and ensuring safe access and working conditions for the drill teams, we are pleased to commence this first phase of underground drilling," said CEO Marcio Fonseca in a statement.
"The objective is to expand the San Marcial mineralized breccia body by stepping out at depth and along strike of the known areas. Additionally, we have just received new geophysical 3D IP inversion data from our ground survey, which shows previously unrecognized areas of elevated chargeability, overlapping locally with anomalous gold values reported during the last drill campaign.
"The San Marcial geology team has produced detailed geologic maps and we are working on understanding the structural controls on newly encountered gold-silver mineralization in the footwall of the main San Marcial breccia body".
GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within two contiguous projects - La Trinidad and Plomosas (which includes the integrated San Marcial area).
It holds 778 square kilometres (sq km) of concessions containing several structural corridors totaling over 75 kilometres in strike length.
In August 2021, the company posted initial resource estimates for its 8,515 hectare (Ha) Plomosas project. The higher confidence indicated resource was put at 10.3 Moz of silver-equivalent, while inferred was estimated at 21 Moz of silver-equivalent. In the indicated category were 3.4 Moz of silver, 53,000 ounces of gold, 73 million pounds (Mlbs) of zinc and 48 Mlbs of lead.
Contact the author at giles@proactiveinvestors.com