GR Silver Mining (TSX-V:GRSL) Ltd has welcomed first drill results from its Loma Dorada target at the flagship Plomosas project in Mexico, which continues to show the gold-silver mineralization there can be extended.
At the target, the explorer has identified a gold-silver rich mineralized zone along with narrow epithermal style veining.
Loma Dorada is one of the firm's high priority targets for reconnaissance drilling and features a prominent 1.5 kilometer (km) by 0.5 km iron-rich anomaly, while the veins here are potentially related to the northern extension of the San Juan - La Colorada vein system, 1.2 km to the south-east.
Drilling into the veins yielded an intercept of 1 meter (m) at 5.23 grams per ton (g/t) gold and 166 g/t silver in one hole from just 3m depth, while at the wide mineralized zone, one hole returned 5.9 m at 0.5 g/t gold, 0.8% lead and 1.0% zinc from 255.4m depth.
READ: GR Silver Mining discovers new mineralized zones in reconnaissance drilling at its Plomosas project in Mexico
"The first drill results from our Loma Dorada target provide significant encouragement for us to continue prospecting in this area, with the objective of defining new high-grade zones within our Plomosas project," said CEO Marcio Fonseca in a statement.
"The previously announced surface drilling campaign is targeting new zones where geological reconnaissance identified areas to drill test new gold-silver rich epithermal veins.
"The company will continue reconnaissance drilling in Loma Dorada to extend the mineralization and improve the understanding of geological controls on this promising area."
GR Silver is carrying out exploration at multiple targets at Plomosas, as part of its previously announced surface diamond drilling program. The key targets are Loma Dorada, Trampolín, El Saltito, Plomosas Sur and the GAP Area. An additional 35 targets are being reviewed, including San Marcial and La Trinidad.
The firm's 6,574-hectare Plomosas silver project is within 5 km of the company's San Marcial silver project, in the Rosario district and is a past-producing asset, where only one mine operated from 1986 to 2001, producing about 8 million ounces of silver, 73 million pounds of lead and 28 million pounds of zinc.
Contact the author at giles@proactiveinvestors.com