Drilling Campaign Shows High Mining Potential of Plomosas

Canada-based mining company GR Silver Mining reported the results of its drilling program at the Plomosas project in Sinaloa, highlighting the potential of the discoveries to significantly increase the company's mineral reserves.

In a press release, the company reported the promising results of 38 infill drill holes that sought to replace the historical holes used in 2021 and find new areas in the footwall and hanging wall of the main mineralized zone. The company said results such as the PLI22-23 hole, which intersected "44.5m grading 518g/t AgEq, including 6.5m grading 2101g/t AgEq" show the company’s opportunities to increase its resource estimate. 

“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 2022,” said Eric Zaunscher, Chairman and CEO, GR Silver Mining.

The company highlighted that since the completion of the company's resource estimate in 2021, 105 holes tallying 7,330m have been drilled. GR Silver highlighted that its drilling program at Plomosas will continue until the end of the year when the new data is integrated into the project's updated geological model. Moreover, the company announced that the new mineral resource estimate is expected to be completed in 1Q23.

Previously,  Zaunscher said that Plomosas has great mining potential. Therefore, he expects continued exploration success, which will boost future resource updates. “We look forward to continued exploration success and new flows from ongoing drilling leading to an updated project mineral resource estimate in 2023. We are confident that the higher grades encountered in recent drilling may also be meaningfully impactful in the upcoming resource update,” Zaunscher added. 

During Mexico Mining Forum 2022, Marcio Fonseca, President and COO, GR Silver, highlighted his optimism in the early exploration stage. He considers the company to be well-positioned for continuous value growth because of GR’s focus on strategic assets that have historically yielded gold and silver mineralization.

In addition, Fonseca highlighted the company’s goal to operate without notable environmental and social incidents. He detailed that GR Silver is focused on maintaining good relations with communities by hiring locals and promoting inclusion in the workplace, among other benefits for the surrounding population.