GR Silver Mining drills 134 g/t silver over 35.2 metres at San Marcial, Mexico

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GR Silver Mining Ltd. [GRSL-TSXV; GRSLF-OTCQB; GPE-FSE] reported results from two additional step-out drill holes – SMS23-03 and SMS23-04 – outside the recently published NI 43-101 mineral resource estimate boundary in the San Marcial area in Sinaloa, Mexico.

The drilling program is targeting the extension of the SE Area discovery, 250 metres along strike to the southeast, targeting identification of the silver mineralized contact zone at shallow depth. SMS23-03 is located approximately 100 metres outside of the Mineral Resource and represents the down-dip extension, 100 metres below SMS23-02 (11.3 m at 584 g/t Ag. SMS23-04 represents a step-out of 300 metres from the last drill hole used in the Mineral Resource, hole SMS22-23.

Highlights from the latest drilling at San Marcial (down hole thickness): SMS23-03 returned 35.2 metres at 134 g/t silver, including 3.3 metres at 506 g/t silver and 0.9 metres at 1,412 g/t silver. SMS23-04 returned 15.0 metres at 32 g/t silver.

The positive results, continue to encourage the company on the potential to extend the Mineral Resource along strike and down-dip in the SE Area Discovery Zone, San Marcial Area. From the original 300-metre strike length of the SE Area Discovery that was incorporated into the Mineral Resource, the company has drilled and identified an additional 450 metres of wide shallow silver mineralization along the prospective Target Contact.

The wide silver intervals intersected in holes SMS23-03 and SMS23-04 continue to support the potential for extension of the wide mineralization geometry along strike. The drilling program, with two additional drill holes (for a total of six), aims to extend the footprint of the SE Area Discovery Zone for an additional 450 metres along strike to the southeast, outside the Mineral Resource.

Chair and CEO Eric Zaunscherb commented, “Our current drill program is successfully demonstrating that wide, shallow, silver mineralization extends to the southeast from the SE Area discovery. We look forward to committing to the 12,500-metre drill program that has been recommended (see News Release dated May 8, 2023 ), pending board approval, that will further test this highly prospective target area.”

GR Silver Mining has completed six drill holes and it will have all assays received by August 2023. This drilling program is the first drilling to be undertaken outside of the SE boundary of the Mineral Resource, which includes the initial extension of the SE Area discovery.

The Target Contact will be the focus of the company’s surface exploration program over the coming months, particularly in areas coincident with Ag anomalies from surface geochemical sampling and the Company’s 2021 ground geophysical survey.

GR Silver Mining also announced the departure of Vice President Exploration and Corporate Development Trevor Woolfe.

The Plomosas Project, including the recent high-grade silver SE Area discovery in the San Marcial Area, is an emerging high-grade silver district located in southern Sinaloa, Mexico. The Plomosas Project, covering 43,187 ha, benefits from mine infrastructure, road access and existing permits, associated with past-producing historical mining sites. The district contains intermediate to low sulphidation epithermal silver and gold mineralization hosted in hydrothermal breccias and veins. Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial Area, including the SE Area discovery, where drilling incorporated into the updated March 2023 Plomosas Project mineral resource estimation highlighted an exploration opportunity for continuous resource growth.

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining 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. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km2 of concessions containing several structural corridors totaling over 75 km in strike length.

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