GR Silver Mining Provides Drilling Update for Plomosas Mine
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GR Silver Mining Provides Drilling Update for Plomosas Mine

Photo by:   Kefentse Molotsane
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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Mon, 03/13/2023 - 16:33

GR Silver Mining has unveiled the underground drilling outcomes from the last batch at the Plomosas mine in Sinaloa as part of its exploration and infill drilling program in 2022.

According to the company, the 28 drill holes, drilled mainly above the 900 level, were aimed at delineating the wide polymetallic vein at Plomosas in unmined areas close to the existing underground access and development within the historic Polomosas mining area. The infill drilling program achieved its objective of better delineating new mineralized zones and was able to replace previously unsampled historic drill holes in the 2021 resource estimate.

Drilling results at the historic underground mine continue to uncover wide and high-grade silver-polymetallic mineralization in previously unmined areas at upper levels, according to the company’s statement. The results indicate the potential for incorporating these attractive polymetallic results into the upcoming resource estimation, which is slated for completion by the end of 1Q23.

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

GR Silver Mining has completed 186 drill holes in the Plomosas Mine Area since its 2021 resource estimation, totaling 11,750m. This core drilling has been conducted in specific areas of the existing NI 43-101 resource block model and was complemented by 36,400m of historical drilling by First Majestic, Aurcana, and IMMSA. The additional drilling has increased the density and confidence of information available for the ongoing resource estimation.

One of Plomosas’ highlights in 2022 occurred on Aug. 8, 2022, when the company discovered high-grade mineral deposits in the southeastern stretch of the San Marcial area. GR Silver intersected 308g/t Ag, including multiple intervals of 1,000g/t Ag.

The Plomosas project has always been considered a strategic asset for GR Silver. At Mexico Mining Forum 2022, Marcio Fonseca, President and COO, GR Silver Mining, expressed his optimism in the early exploration stage. He said that the company is well-positioned for continuous value growth because of its focus on strategic assets that have historically yielded gold and silver mineralization.

Photo by:   Kefentse Molotsane

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