GR Silver Mining (TSX-V:GRSL) Ltd told investors that wide, high-grade silver mineralization has been confirmed below the San Marcial resource at its Plomosas silver project in Mexico, justifying another resource expansion drilling program this year.
The latest drill assays hail from three underground drill holes completed in 2021.
They were part of a successful eight-hole program, which confirmed a significant expansion of high-grade silver mineralization around 300 metres (m) down dip below the lower limit of the pit-constrained San Marcial NI 43-101 resource from 2019.
"The combination of contemporary and extensive historical data has allowed GR Silver's geologists to formulate a modern exploration model focused on high-grade silver and gold mineralization," said CEO Eric Zaunscherb in a statement.
"These results continue to encourage us to explore San Marcial at depth and to the SE. With the recently completed financing, the company is fully financed to extend its sophisticated approach, including as much as 10,000m of drilling, seeking to extend San Marcial and further surgical infill drilling at the former Plomosas Mine Area.
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"We are extremely proud of the exploration platform that has been assembled to advance the overall Plomosas Project, especially our talented Mexican geological team, as well as the strong community relationships that have been nurtured," he added.
The latest highlights included one hole, which hit a true width of 0.2 metres (m) from 239.6m depth, at a grade of 1,413 grams per ton (g/t) silver and 0.11 g/t gold, 0.9% lead and 1.3% zinc. That hole also hit 8.5m at 124 g/t silver and 0.01 g/t gold.
Results from the final hole in the eight-hole underground drill program at San Marcial are pending, while this year's San Marcial surface and underground resource expansion drill program is underway with three rigs on site.
The program is targeting additional extensions to the south-east (SE) of the current NI 43-101 mineral resource, as well as down plunge from wide, high-grade silver mineralization, which was intersected in two holes.
GR Silver Mining (TSX-V:GRSL) controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas project, which includes the integrated San Marcial Area and La Trinidad acquisition.
As well as its portfolio of early to advanced stage exploration targets, the firm holds 734 square kilometres ( km2) of concessions containing several structural corridors totaling over 75 km in strike length.
Contact the author at giles@proactiveinvestors.com