GR Silver Mining (TSXV:GRSL) Reports Results from Plomosas Mine Area, Intersecting 5.8 m at 427g/t Ag

GR Silver Mining (TSXV:GRSL) has reported new results from its final round of underground drilling at the Plomosas Mine Area during its 2022 infill and exploratory drilling program at the Plomosas Project in Mexico. The company drilled all 28 drill holes in the announcements from within the historic Plomosas Mine Area, mainly about the 900 level. 

Drill targeted the wide polymetallic Plomosas Breccia in unmined areas close to existing underground development and access. Objectives for the infill drilling program were achieved and delineated new mineralized zones, replacing un-sampled historical holes that were previous adopted in the 2021 resource estimation. 

Figure 1: Location of Selected Drill Holes – Plomosas Mine Area Upper Levels, Longitudinal Section Source: GR Silver Mining Ltd.

GR Silver Mining Chairman and CEO, Eric Zaunscherb commented in a press release: “The upcoming resource estimation is expected to define a significant resource dominated by silver mineralization over broad widths, relatively close to surface or existing underground infrastructure. We consider these attributes to contribute to GR Silver Mining’s competitive advantages, along with project scale and prospectivity, and the management and board skills to take the project to the next level. We anticipate a potential market re-rating related to the resource estimation update, based on scale and quality of resources.”

Highlights from the results are as follows:

  • PLIP22-094: 21.7 m at 158 g/t Ag, 0.05 g/t Au, 1.9% Pb, 1.8% Zn and 0.1% Cu (301 g/t AgEq1)
    including: 5.8 m at 427 g/t Ag, 0.09 g/t Au, 4.9% Pb, 1.4% Zn and 0.1% Cu (648 g/t AgEq)
  • PLIP22-092: 13.0 m at 161g/t Ag, 0.20 g/t Au, 1.0% Pb, 1.5% Zn and 0.1% Cu (273 g/t AgEq)
  • PLIP22-089: 5.4 m at 325 g/t Ag, 0.54 g/t Au, 3.1% Pb, 2.5% Zn and 0.1% Cu (567g/t AgEq)
    including: 2.5 m at 524 g/t Ag, 0.19 g/t Au, 2.7% Pb, 0.8% Zn and 0.1% Cu (660 g/t AgEq)
  • PLIP22-078: 4.7 m at 277 g/t Ag, 0.75 g/t Au, 7.5% Pb, 2.1% Zn and 0.2% Cu (666 g/t AgEq)

The drilling results continue to reveal attractive wide high-grade silver-polymetallic mineralization in unmined areas at the upper levels of the historic underground mine. These results continue to demonstrate the potential to incorporate wide and attractive polymetallic results into the upcoming resource estimation, scheduled for completion by the end of Q1|2023.

The 186 drill holes (11,750 metres), completed by GR Silver Mining at the Plomosas Mine Area since the 2021 resource estimation, have added important core drilling in specific areas of the existing NI 43-101 resource block model, which together with 36,400 metres of historical drilling completed by First Majestic, Aurcana and IMMSA, provide a higher density and confidence of information for the resource estimation in progress.

Table 1:  Plomosas Mine Area – Latest Results Highlights

Drill Hole From (m) To (m) Apparent 

width  (m)

True width

(m)

Ag g/t Au g/t Pb % Zn % Cu % AgEq g/t
PLI22-53 2.3 3.8 1.5 1.0 270 0.15 0.8 1.1 na 348
  42.4 45.8 3.4 2.9 251 0.01 2.2 2.4 na 412
PLIP22-60 No significant intervals
PLIP22-61 6.3 8.3 2.0 1.7 80 0.01 0.4 0.5 0.1 118
PLIP22-62 No significant intervals
PLIP22-64 No significant intervals
PLIP22-66 0.8 14.1 13.2 8.5 44 0.06 0.3 0.4 na 74
PLIP22-71 0.0 7.7 7.7 6.3 8 0.08 0.8 0.6 na 61
PLIP22-72 0.0 1.9 1.9 1.9 23 2.31 1.9 3.8 na 437
PLIP22-73 No significant intervals
PLIP22-74 0.8 13.0 12.2 12.2 42 0.70 0.5 0.4 na 139
PLIP22-75 2.0 6.1 4.1 4.1 3 0.13 0.8 0.5 na 57
PLIP22-76 No significant intervals
PLIP22-78 4.8 9.5 4.7 4.7 277 0.75 7.5 2.1 0.2 666
PLIP22-79 No significant intervals
PLIP22-80 No significant intervals
PLIP22-82 1.3 4.6 3.3 3.3 37 0.08 0.1 0.2 na 56
PLIP22-84 No significant intervals
PLIP22-85 0.0 5.3 5.3 4.3 23 na 1.1 6.0 0.1 293
  0.0 0.9 0.9 0.7 48 0.01 4.3 17.2 0.2 849
PLIP22-86 0.0 5.3 5.3 3.4 24 0.04 1.9 2.0 na 161
PLIP22-87 1.6 9.3 7.7 5.9 7 0.06 0.4 0.4 na 40
PLIP22-88 6.5 13.2 6.8 5.9 45 0.09 0.1 0.1 na 62
PLIP22-89 9.0 14.3 5.4 4.7 325 0.54 3.1 2.5 0.1 567
  10.9 13.4 2.5 2.0 524 0.19 2.7 0.8 0.1 660
PLIP22-90 5.2 6.5 1.3 0.8 46 0.11 2.2 3.5 0.1 258
PLIP22-92 5.6 18.6 13.0 11.3 161 0.20 1.0 1.5 0.1 273
PLIP22-93 11.7 14.7 3.0 2.6 210 0.03 0.8 0.2 0.1 257
  11.7 12.3 0.6 0.5 485 0.09 4.3 0.2 0.3 660
PLIP22-94 0.0 21.7 21.7 19.7 158 0.05 1.9 1.8 0.1 301
  9.3 15.1 5.8 5.3 427 0.09 4.9 1.4 0.1 648
PLIP22-95 No significant intervals
PLIP22-96 7.4 9.4 2.1 2.0 276 0.01 0.5 1.1 na 338
  14.3 19.4 5.2 3.3 43 0.06 1.1 0.5 na 103

 

Numbers may be rounded. Results are uncut and undiluted.  “na” = no significant result
* AgEq calculations using US$20.00/oz Ag, US$1,600/oz Au, US$0.90/lb Pb, US$1.10/lb Zn and US$3.00/lb Cu, with metallurgical recoveries of Ag – 74%, Au – 86%, Pb – 69%, Zn –75% and Cu – 80%. AgEq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb price x Pb recovery) + (Zn grade x Zn price x Zn recovery) + (Cu grade x Cu price x Cu recovery))/(Ag price x Ag recovery)

Table 2:   Plomosas Mine Area Latest Drill Hole Details

Drill Hole East (m) North (m) RL (m) Dip (˚) Azimuth (˚) Depth (m) Drill Hole Type
PLI22-53 451307 2551909 818 55 270 78.0 Underground
PLIP22-60 451532 2552237 897 45 310 16.0 Underground
PLIP22-61 451517 2552066 917 -44 110 18.7 Underground
PLIP22-62 451512 2552050 919 -44 140 16.5 Underground
PLIP22-64 451474 2552010 903 -53 103 15.0 Underground
PLIP22-66 451473 2551899 903 -32 50 14.7 Underground
PLIP22-71 451297 2551672 801 -47 65 17.75 Underground
PLIP22-72 451325 2551606 801 -50 50 18.0 Underground
PLIP22-73 451350 2551595 802 -60 47 16.0 Underground
PLIP22-74 451409 2551539 804 -26 320 15.0 Underground
PLIP22-75 451415 2551561 804 -25 329 15.0 Underground
PLIP22-76 451312 2551886 817 0 141 31.0 Underground
PLIP22-78 451232 2551853 801 -25 115 41.5 Underground
PLIP22-79 451377 2551581 802 -45 60 15.0 Underground
PLIP22-80 451378 2551568 803 -43 85 14.0 Underground
PLIP22-82 451345 2551862 851 -50 80 21.25 Underground
PLIP22-84 451410 2552076 854 0 270 12.4 Underground
PLIP22-85 451336 2551983 853 -20 260 20.5 Underground
PLIP22-86 451337 2551961 853 -45 90 12.5 Underground
PLIP22-87 451396 2551889 852 -20 70 29.0 Underground
PLIP22-88 451428 2551885 852 -45 80 38.0 Underground
PLIP22-89 451345 2551739 842 -80 110 28.0 Underground
PLIP22-90 451331 2551733 844 0 260 19.4 Underground
PLIP22-92 451400 2551467 882 -30 90 40.5 Underground
PLIP22-93 451367 2551951 881 -30 90 14.7 Underground
PLIP22-94 451387 2551974 880 -28 90 21.65 Underground
PLIP22-95 451330 2551892 873 -90 0 8.0 Underground
PLIP22-96 451342 2551939 869 -20 70 21.0 Underground

 

Note: WGS84 Datum

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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