GR Silver Mining (TSX-V:GRSL) Ltd. has announced the completion of the 3D DC resistivity, induced polarization (IP), and ground magnetic geophysical survey covering over 7 kilometres (km) of the prospective structural corridor as the first step of a district-scale generative exploration program at the Plomosas Project in Mexico.
"The release of results from the IP and magnetic survey has already provided valuable information for the current underground drill program aimed at expanding the San Marcial resource,” said CEO Marcio Fonseca in a statement.
“Together with the new district-scale geologic surface mapping and sampling campaigns, and a better understanding of the structural control of faults and mineralized structures, the new geophysical data provides new targets to build our project pipeline within the Plomosas Project. We have already made significant advances with drilling planned on the recent GAP Area discovery and we are looking forward to developing additional targets to drill stage."
READ: GR Silver Mining finds new gold-, silver-rich veins at GAP area at Plomosas project
Highlights include:
- First-ever geophysical program links San Marcial resource with the recent GAP Area discovery and the San Juan resource
- A combined 71km of resistivity, IP, and ground magnetic line coverage
- New shallow drill targets identified on the surveyed area including the vicinity of the San Marcial resource areas
GR Silver Mining said its work survey connected the mineralized trend at San Marcial with the GAP and San Juan Areas further to the northwest, adding that this is the first-ever surface geophysical program carried out in this under-explored area of the Plomosas Project.
The company said early-stage field assessment of Ag-Au targets is underway and several of these are currently in the drill planning stage.
In other company news, GR Silver Mining announced that, pursuant to its 10% rolling stock option plan and in compliance with the policies of the TSX Venture Exchange, it has granted incentive stock options to employees in its Mexican subsidiaries, to purchase up to 155,000 shares. The options are exercisable for a period of five years at a price of $0.29 per share.
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