GR Silver Mining (TSX-V:GRSL) Ltd has revealed additional positive results from 38 infill drill holes in the resource update program underway at the Plomosas Mine area at its Plomosas project in Sinaloa, Mexico.
The Canadian junior mineral exploration company said the drill holes were targeted to replace historical holes used in the 2021 NI 43-101 mineral resource estimate (MRE), where unsampled intervals were assigned zero values, and to test new high-grade silver-gold mineralized zones identified by the company in both the footwall and hanging wall of the main mineralized zone.
The Mexico-focused GR Silver has added 105 holes or 7,330 meters of new drilling inside the historic Plomosas Mine since completion of the NI 43-101 MRE in August 2021, with the campaign ongoing.
The following are highlights from the latest results:
- PLI22-38: 24.9 meters (m) at 471 grams per ton (g/t) silver equivalent (AgEq) - 301 g/t silver (Ag), 0.4 g/t gold (Au), 1.6% lead (Pb), and 2.1% zinc (Zn), including 6.0m at 1,052 g/t AgEq - 856 g/t Ag, 0.7 g/t Au, 1.3% Pb and 2.3% Zn;
- PLI22-23: 44.5m at 518 g/t AgEq - 268 g/t Ag, 1 g/t Au, 2.4% Pb, 1.7% Zn, 0.2% copper (Cu), including 7m at 684 g/t AgEq - 626 g/t Ag, 0.03 g/t Au, 1.0% Pb, 0.6% Zn, 0.1% Cu, including 6.5m at 2,101 g/t AgEq - 1,028 g/t Ag, 5.11 g/t Au, 8.3% Pb, 7% Zn, 0.8% Cu, including 2.4m at 3,431 g/t AgEq - 2,667 g/t Ag, 1.27 g/t Au, 12.2% Pb, 6.9% Zn, and 0.3% Cu;
- PLI22-24: 12.4m at 365 g/t AgEq - 135 g/t Ag, 0.4 g/t Au, 4.0% Pb, 1.7% Zn, 0.2% Cu; and
- PLI22-25: 12.5m at 1,146 g/t AgEq - 629 g/t Ag, 0.6 g/t Au, 9.2% Pb, 4.0% Zn, 0.4% Cu, including 1.5m at 1,917 g/t AgEq - 1,791 g/t Ag, 0.2 g/t Au, 1.3% Pb, 1.4% Zn, 0.1% Cu.
Investors can find the comprehensive results here.
In a statement, GR Silver CEO Eric Zaunscherb said: "As designed, surgical infill drilling at Plomosas continues to demonstrate attractive polymetallic grades in the main hydrothermal breccia, where nil grades had previously been assigned for unsampled areas in the August 2021 resource block model.
“It is also very pleasing to see the potential addition of volume from the newly discovered footwall and hanging wall precious metal mineralization. Both may be impactful in the upcoming mineral resource estimate update anticipated in the first quarter of 2023."
The Plomosas Mine area, which includes a historical mine with 7.4 km of underground development, is providing positive drill results in unmined zones that will be incorporated into GR Silver’s resource estimate. The updated NI 43-101 will integrate the firm’s two resource stage areas currently being drilled — San Marcial and Plomosas Mine Area — as well as additional drilling earmarked for La Colorada and the San Juan area.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive