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Tuesday, Sep 26, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


GR Silver Mining strikes high-grade gold in Plomosas Mine, Sinaloa

Multiple drill hole intervals with high-grade veinlets have been intersected in these areas

GR Silver Mining strikes high-grade gold in Plomosas Mine, Sinaloa
Longitudinal Section: Plomosas Mine Area (Au Block Model and Grades). Photo via GR Silver Mining Ltd.

Vancouver-based mining company GR Silver Mining Ltd. (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) has found high-grade gold in the Plomosas Mine as part of its gold mining Plomosas Project in Sinaloa.

The firm announced its additional drilling results Tuesday as part of the 2022 infill drilling and sampling program.

The drilling was done to follow up with previous resource modeling and estimation that had zero grades for unsampled core intervals and to define the geometry and boundaries of new gold mineralization on the hanging wall of the main mineralized zone at lower levels of the underground mine.

Gold mineralized zones exceeding 20 meters downhole width have been drilled in the current program in the hanging wall and footwall. Multiple drill hole intervals with high-grade veinlets have been intersected in these areas as seen by the 0.4 meters at 57.9g/t Au from hole PLI17-26.

Highlights from the Plomosas Mine Area drill holes (Downhole widths):

  • PLIP22-28: 7.3 m at 1,242 g/t AgEq (55 g/t Ag, 8.66 g/t Au, 2.7 per cent Pb, 6.6 per cent Zn and 0.5per cent Cu)
  • PLI17-26: 12.4 m at 2.64 g/t Au, including 0.4 m at 57.9 g/t Au
  • PLI22-42: 21.1 m at 489 g/t AgEq (28 g/t Ag, 3.60 g/t Au, 0.6per cent Pb, 2.3 per cent Zn and 0.2 per cent Cu)
  • PLI22-47: 7.1 m at 970 g/t AgEq (281 g/t Ag, 2.15 g/t Au, 8.9 per cent Pb and 6.0 per cent Zn)
  • PLI22-46: 6.4 m at 940 g/t AgEq (44 g/t Ag, 1.90 g/t Au, 11.2 per cent Pb, 10.0 per cent Zn and 0.1 per cent Cu)

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“As GR Silver’s team peeled the geological onion, the importance of cross structures in the overall Plomosas story was revealed,” GR Silver Mining Chairman and CEO Eric Zaunscherb said.

“Our most recent results confirm that younger, crosscutting structures appear to be contributing additional precious metals mineralization in the main polymetallic Plomosas Breccia and beyond into its hanging wall and footwall,” Zaunscherb added.

“The intersection of high-grade gold mineralization is an important addition to the Plomosas story that may contribute to the resource update anticipated in the next few months.”

He explained that regardless of this, the emerging understanding of controls on high-grade mineralization has already had a material impact on drilling success at the Plomosas Project.

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Gr Silver Mining inserts blank, duplicate and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, BC.

The analytical methods are four acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits.

For gold assays, the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay, and gravimetric finish for gold above limits (>10 ppm).

GR Silver Mining is a Vancouver-based junior mineral exploration company with primary operations in Mexico doing silver-gold resource expansion on its assets located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa, Mexico.

The company fully controls two precious metal underground and open pit mines, within the expanded Plomosas Project including 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 kilometers square of concessions containing several structural corridors totaling over 75 kilometers in strike length.

Read more: Calibre Mining high-grade gold drill positive results to continue at Panteon North, say analysts

Read more: Calibre Mining step-out drilling results show bonanza grade gold intercepts in Nicaragua

Other Canadian companies with primary operations in Latin America have been seeing positive results from their recent drilling programs.

Calibre Mining (TSX: CXB) (OTCQX: CXBMF) reported additional high-grade drill results from its Panteon North operations within the Limon Mine Complex in Nicaragua. The company anticipates the high grade mineralization in the main gold shoot will lead to a maiden resource in Q1, 2023



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