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News Article

GR Silver Announces Strong Drill Results at Plomosas

By Alejandro Ehrenberg | Mon, 07/20/2020 - 11:59

GR Silver Mining reported drill results at its Plomosas silver project in Sinaloa. Results underscore high-grade silver mineralized zones in the property and confirm prospectivity close to the existing underground development.

The company explained that the high-grade silver mineralized zones are located in a 50m step-out from a previously released section of drill hole results. The drill results confirm continuity of the silver mineralized system for at least 500m along strike. They also extend the continuity of both mineralization styles up to 700m down dip below the surface. The two styles are Ag-Au low-sulphidation epithermal veins and polymetallic high-grade Ag-Pb-Zn hydrothermal breccias.

GR Silver Mining declared that the drill results confirm the prospectivity of near surface, multiple veins and hydrothermal breccia systems close to existing underground development, which will facilitate access for follow-up in its upcoming drill program. Significantly, these drill holes also indicate the discovery of multiple subparallel mineralized systems below the current footwall of previously mined areas.  

“The mineralized veins and hydrothermal breccias at the Plomosas Mine Area were originally interpreted to be confined only along the major Plomosas Fault. However, our recent validation and integration of all drill results, underground structural mapping and sampling, supports the occurrence of additional mineralized veins outside of that major structure. These results illustrate the potential to expand Ag-Au mineralization along strike and down-dip, creating a much larger mineralized footprint for future resource estimation,” commented GR Silver Mining President and CEO Marcio Fonseca.

The Plomosas project is a key piece of GR Silver Mining’s overall strategy. “We focus on silver and gold in Sinaloa’s Rosario District. This district has a long history related to these metals. Plomosas has both historical and recent drill holes. The company’s business strategy is to find attractive gold and silver assets that already have a lot of available data, such as drill holes and samples. The company can acquire the assets at a low-cost and then use the existing data to increase the resource. Exploration is less important for us than resource expansion, discovery and development. Today, the company has the most important assets in the Rosario District. GR Silver Mining is one of the largest concession holders there,” said Fonseca in an interview with Mexico Business News.

As described by the company, the Plomosas silver project is located near the historic mining village of La Rastra, within the Rosario Mining District. The project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Plomosas project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession and 16 new exploration targets from which 11 have high priority for future exploration programs.

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Alejandro Ehrenberg Alejandro Ehrenberg Journalist and Industry Analyst