GR Silver drills 518 g/t AgEq over 44.5 metres at Plomosas, Mexico

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GR Silver Mining Ltd. [GRSL-TSXV; GRSLF-OTCQB; GPE-FSE] reported additional results from 38 infill drill holes in the resource update program at the company’s Plomosas mine area, Plomosas project, Sinaloa, Mexico.

These drill holes were targeted to replace historical holes used in the 2021 NI 43-101 mineral resource estimate, where unsampled intervals were assigned zero values, or 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.

GR Silver Mining’s infill drilling program is continuing in the Plomosas Mine Area, and to date has added 105 holes (7,330 m) of new drilling inside the historic Plomosas Mine since completion of the GR’s 2021 NI 43-101 mineral resource estimation.

Highlights of the infill drilling at the Plomosas Mine Area included drill hole PLI22-38 that returned 24.9 metres at 471 g/t AgEq (silver equivalent), or 301 g/t silver, 0.4 g/t gold, 1.6% lead and 2.1% zinc, including 6.0 metres at 1,052 g/t AgEq, or 856 g/t silver, 0.7 g/t gold, 1.3% lead and 2.3% zinc.

PLI22-23 returned 44.5 metres at 518 g/t AgEq, or 268 g/t Ag, 1.0 g/t Au, 2.4% Pb, 1.7% Zn, 0.2% Cu, including 7.0 metres at 684 g/t AgEq, or 626 g/t Ag, 0.03 g/t Au, 1.0% Pb, 0.6% Zn, 0.1% Cu, including 6.5 metres at 2,101 g/t AgEq, or 1,028 g/t Ag, 5.11 g/t Au, 8.3% Pb, 7.0% Zn, 0.8% Cu, including 2.4 metres at 3,431 g/t AgEq, or 2,667 g/t Ag, 1.27 g/t Au, 12.2% Pb, 6.9% Zn, 0.3% Cu.

PLI22-24 returned 12.4 metres at 365 g/t AgEq, or 135 g/t Ag, 0.4 g/t Au, 4.0% Pb, 1.7% Zn, 0.2% Cu. PLI22-25 returned 12.5 metres at 1,146 g/t AgEq, or 629 g/t Ag, 0.6 g/t Au, 9.2% Pb, 4.0% Zn, 0.4% Cu, including 1.5 metres at 1,917 g/t AgEq, or 1,791 g/t Ag, 0.2 g/t Au, 1.3% Pb, 1.4% Zn, 0.1% Cu.

PLI22-27 returned 8.5 metres at 371 g/t AgEq, or 109 g/t Ag, 0.9 g/t Au, 3.5% Pb, 1.7% Zn, 0.1% Cu. PLI22-28 returned 24.3 metres at 217 g/t AgEq, or 41 g/t Ag, 0.7 g/t Au, 2.1% Pb, 1.1% Zn. PLI22-30 returned 0.8 metres at 2,365 g/t AgEq, or 2,251 g/t Ag, 0.1 g/t Au, 1.0% Pb, 0.1% Zn, 0.6% Cu.

PLIP22-30 returned 5.1 metres at 716 g/t AgEq, or 116 g/t Ag, 5.9 g/t Au, 0.2% Pb, 0.2% Zn, 0.4% Cu, including 0.6 metres at 4,078 g/t AgEq, or 219 g/t Ag, 40.2 g/t Au, 0.4% Pb, 0.1% Zn, 1.0% Cu. PLIP22-42 returned 5.7 metres at 995 g/t AgEq, or 44 g/t Ag, 1.2 g/t Au, 12.7% Pb, 11.4% Zn, 0.4% Cu.

The Plomosas Mine Area, which includes a historical mine with 7.4 km of underground development and related infrastructure, is providing positive drill results and new discoveries in many un-mined zones that will be incorporated into an upcoming resource estimate. The updated NI 43-101 resource estimate will integrate the company’s two resource stage areas currently being drilled (San Marcial and Plomosas Mine Area) as well as additional drilling at La Colorada and the San Juan Area. GR Silver will be the first company to integrate all exploration concessions at the resource stage into a single combined technical report.

GR Silver Mining chairman and CEO Eric Zaunscherb commented: “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 2022 infill drilling program, combined with detailed mapping and underground sampling, has now traced the Ag-Au Pb-Zn hydrothermal breccia (partially mined by Grupo Mexico until 2001), as well as new mineralization associated with cross cutting faults.

Historical mine production to 2001 was concentrated along the Plomosas Breccia, where lead and zinc values were the main target of historic underground bulk mining operations.

Plomosas drilling will continue until December 2022, when all data will be integrated into an updated geological model for the Plomosas Mine Area. The updated mineral resource estimate is scheduled to be completed in Q1 2023.

GR Silver Mining is engaged in silver-gold resource expansion on its 100%-owned assets on the eastern edge of the Rosario Mining District, southeast Sinaloa State. GR Silver 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.

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