GR Silver Mining President and CEO, Marcio Fonseca commented, “We are very pleased to report additional results from the Company’s 2021 drilling of the San Juan Area, which in combination with historical drill results, significantly extend shallow high-grade silver vein structures.
The broad interval of silver mineralization on the footwall of the Yecora Vein represents the discovery of a much larger footprint than initially interpreted for this epithermal vein system, supporting potential open pit-amenable zones.
The La Colorada Vein represents a NW continuation of the Yecora Vein, in an area with a series of shallow old workings, and where the vein system has the potential to be extended at least another 1 km along strike.
____________________________1 AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper.
AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper.
The Plomosas Mine Area has a current strike length of 600 m and the San Juan Area is 2 km in length.
The San Marcial NI 43-101 resource is part of a larger 6 km trend under exploration, including a current ground geophysics survey and diamond drilling planned for later in 2021.
The integration of the Plomosas Project and the San Marcial Project, together with the recent acquisition of the Trinidad Project, provides the Company with full control of three major structural corridors on the eastern half of the Rosario Mining District, representing a total of 75 km of strike length.
For every sample with results above Ag >100 ppm , these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.
The recent drill holes, completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying.
GR Silver Mining Ltd.
GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District.
Underground drilling included in the program is targeting the extension of recent Au-rich discoveries at the lowest level of the Plomosas Mine Area and six low sulphidation epithermal veins at the San Juan Area.
The silver-gold mineralization on this Project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal mineralized vein/breccia system.
The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down-dip.
then commenced an open pit gold mine at La Trinidad in 1995, known as the Taunus Pit, with ore being processed via a heap leach operation.
In addition to La Trinidad, the portfolio acquired by GR Silver Mining includes an extensive regional database of geological, geochemical and geophysical information resulting from historical exploration expenditure by Oro Gold of more than CDN$18.6 M since 2006.
The near surface historical Inferred Resource at the Calerita prospect contains 3.7 Mt at 0.65 g/t Au for approximately 77,000 oz of gold6, which is considered to be open along strike and down dip.
While the 2011 resource is considered by GR Silver Mining to be a historical resource, the Company considers the resource estimate as being relevant and reliable, considering a lack of significant additional exploration work since its release.
_____________________________________3 Refer to Marlin Gold Mining Ltd.
GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas, La Trinidad and San Marcial in the Rosario Mining District.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.