The results showcase intersections of polymetallic (silver-gold-lead-zinc) hydrothermal breccia near the surface at Plomosas
Highlights include 1.8 metres at 15.8 g/t gold, 1.1% lead, 3.9% zinc and 17 g/t silver for 1,779 g/t of silver equivalent
GR Silver Mining Ltd (CVE:GSRL) (OTCQB:GRLSF) has reported new drill results from the northern part of its Plomosas Mine Area that reveal high-grade mineralization in unmined portions of the historic operation.
The results showcase intersections of polymetallic (silver-gold-lead-zinc) hydrothermal breccia near the surface at Plomosas, a primary silver project in Sinaloa, Mexico.
Highlights include 1.8 metres (m) at 15.8 grams per ton (g/t) gold, 1.1% lead (Pb), 3.9% zinc (Zn) and 17 g/t silver (Ag) for 1,779 g/t of silver equivalent (AgEq) and 6.2 m at 171 g/t Ag, 1.1% Pb, 0.7% Zn, 0.2% copper (Cu) and 0.4 g/t Au for 282 g/t AgEq.
Another intercept revealed 8.1 m at 227 g/t Ag, 1.7% Pb, 1.4% Zn, 0.1% Cu and 0.3 g/t Au for 354 g/t AgEq.
“The reported drilling results continue to demonstrate the presence of high-grade precious metal mineralization in unmined zones of the historic Plomosas Mine Area,” GR Silver CEO Marcio Fonseca said in a statement.
The results also confirm the presence of wide, polymetallic (Ag-Au-Pb-Zn) hydrothermal breccias in underexplored extensions that will be integrated into GR Silver’s upcoming maiden resource estimation at Plomosas, Fonseca told investors.
He added: “The company has also discovered continuous wide silver-gold rich polymetallic mineralization near surface, in the form of high-grade epithermal veins, as well as wide, shallow mineralized zones that demonstrate potential for future open pit development in a historic lead and zinc underground mining project.”
Vancouver-based GR Silver has sunk 16,000 metres of drilling at Plomosas since it acquired the project in 2020.
The company told shareholders that structural and geological mapping and surveys in the area revealed what could be a district-scale silver-gold-rich epithermal system. It is planning to continue exploring along strike of the mineralized system at both the Plomosas Mine Area and the San Juan Area to try and locate extensions to incorporate into the planned resource estimate.
Meanwhile, GR Silver also said that it had received exchange approval for a share-for-debt transaction originally announced May 13, issuing 45,999 shares to settle a debt of $32,659.
Contact Angela at firstname.lastname@example.org
Follow her on Twitter @AHarmantas