New Developments in Mining: Plomosas Project, Sinaloa

GR Silver Mining is advancing its mining initiatives in the Rosario Mining District in Sinaloa, focusing on the Plomosas and San Marcial mines. The project promises to yield high-grades at low development costs. Furthermore, while the mining industry deals with important regulatory challenges, the Plomosas district highlights the great opportunities and development that further mining exploration can bring to Mexican localities. 

Marcio Fonseca, President and COO, GR Silver Mining, explains that this project was often overlooked, and it came with its own challenges, but the company was able to adapt and commit to find valuable resources in the San Marcial mines. The company also faced the uncertainty and volatility currently reigning in the industry. Yet, Fonseca says Mexico has great potential; the challenge is to publicize Mexico’s opportunities and share more information on mining activities and ESG efforts. “Mexico is in a tough position and investors do not see the country’s potential due to uncertainty. But, there are many benefits to continuing developing this industry in Mexico,” he adds.

GR Silver holds 78km² of concessions and is leveraging its extensive experience in Mexico to identify high-grade silver deposits and expand its mining operations. The Plomosas project, located in the Sierra Madre Occidental, is central to GR Silver's strategy. The project includes the Plomosas and San Juan mines, both undergoing revaluation for the potential restart of mining activities at a low cost. 

Fonseca underscores Gr Silver Mining’s disposition to train and develop Mexican talent to explore opportunities like these projects. “From the beginning, GR has made alliances to develop local talent, and our group is 100 percent Mexican," he mentions. “We have made alliances with local suppliers. We think that they should be included since the industry’s benefits span from infrastructure construction to job creation.”

GR Silver aims to expand mineral resources through modern exploration techniques and partnerships with established mining operators in Mexico. The San Marcial project is 

being evaluated for its potential as a highly profitable underground silver mine. From 2019 to 2023, the mineralized zone in the southeast area of San Marcial expanded threefold, marking a significant discovery. This expansion was driven by thorough geological investigation and the identification of a new geological system. The project is now recognized for its high-grade silver deposit, which exhibits favorable geometry for the development of a highly productive underground mine, with the potential for both lateral and depth expansion.

GR Silver emphasizes minimal environmental impact during exploration and adherence to Mexican and international regulations. The project also includes collaboration with local communities, focusing on employment, training, and regional development. According to Fonseca, the Plomosas mine features modern infrastructure, which is expected to support the restart of operations with minimal investment and low implementation risk. The project has existing licenses and permits for underground mining, and the company has a predominantly Mexican team integrated into the local communities. 

As part of its long-term strategy, GR Silver plans to continue expanding its resource base and forging strategic alliances to consolidate its mining business in Sinaloa. The company’s ongoing efforts are expected to contribute significantly to the economic growth of southern Sinaloa and Mexico as a whole. "Mining has a bigger impact than is generally believed, especially when we understand how to navigate challenging circumstances, which is what we have had to do in the current context," says Fonseca.