VANCOUVER, BC, Sept. 8, 2021 /CNW/ – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”)(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that it has received high-grade results from the exploration sampling program of newly discovered Au-Ag rich epithermal veins in the GAP Area, located between the San Juan and San Marcial Areas in Sinaloa, Mexico.
Channel sampling highlights include:
- 0.30 m @ 10.72 g/t Au and 251 g/t Ag
- 0.35 m @ 0.81 g/t Au and 1,450 g/t Ag
- 0.30 m @ 2.77 g/t Au and 363 g/t Ag
Rock chip sampling highlights include:
- 0.54 g/t Au with 3.5% Pb and 11.8% Zn
- 1.60 g/t Au with 440 g/t Ag
- Results to be followed up by recently announced surface core drill program
GAP Area Discovery
Since the acquisition of 100% of the concession containing the GAP Area in March 2021, GR Silver Mining’s team has advanced an exploration program that links the San Marcial, San Juan and Plomosas Areas. The Company now controls seven kilometres of structural trend between San Marcial and San Juan, which hosts the new GAP Area discovery (Figure 1).
Over the past months, the Company has completed geological mapping, reconnaissance of old workings, a ground geophysical survey and collected channel samples over an extensive epithermal vein system within the GAP Area. This key zone links two areas that now host NI 43-101 mineral resource estimates1,2, and has not previously been explored.
Initial reconnaissance and sampling indicate that the high-grade Au-Ag concentrations are associated with well zoned, low-temperature epithermal veins and include amethystine quartz, among other quartz types, and with low sulphide content. Locally, some of the veins exceed 10% combined lead and zinc (Table 1). Systematic sampling of the different veins led to the definition of a 2 km2 large prospective zone in the GAP area.
The mapped geology shows that the volcaniclastic-sedimentary and andesitic tuff units that host the veins in the GAP Area are likely to be underlain by several intrusive diorite plugs.
GR Silver Mining’s discovery of Au-Ag rich veins in the GAP Area supports the proposed model of a large district-scale vein and breccia system between the San Marcial and San Juan Areas. The GAP Area is one of five new areas in the Company’s current drill program, which is testing areas outside of the recently announced NI 43-101 mineral resource estimates2.
Table 1: Selective Channel Sample and Rock Chip Assay Results – News Release September 8, 2021
|Samples||Sample Type||UTM North||UTM East||Apparentwidth*|
|Au g/t||Ag g/t||Pb %||Zn %|
|19322 – 19324||Channel Sample||2547027||448314||0.9||3.76||137||0.1||0.4|
|19326 – 19328||Channel Sample||2547027||448314||1.3||1.30||96||0.2||0.7|
|15641 – 15643||Channel Sample||2546806||448173||0.9||1.08||129||na||na|
|15635||Rock Chip Sample||2546760||448264||–||1.09||36||na||na|
|18363||Rock Chip Sample||2546847||448213||–||4.75||230||na||na|
|15681||Rock Chip Sample||2546527||448173||–||1.06||488||na||na|
|15688||Rock Chip Sample||2547432||448046||–||0.54||12||3.5||11.8|
|15695||Rock Chip Sample||2547016||448324||–||1.60||440||0.1||0.1|
|15706||Rock Chip Sample||2544575||448009||–||0.48||64||14.7||0.7|
*Channel sample widths are apparent widths only. Insufficient structural information is available at this stage to estimate true width with confidence.
Selective sample results in this table represent results with gold >1.0 g/t Au, or silver >200 g/t Ag, or lead+zinc >10% Pb+Zn. na = no significant result (<0.1%)
- See News Releases dated February 7, 2019 and June 12, 2020 (San Marcial)
- See News Release dated August 23, 2021 (San Juan/ Plomosas)
*See here for location of the GAP Area at the Plomosas Project
GR Silver Mining President and CEO, Marcio Fonseca commented “The progress of GR Silver Mining’s exploration program in new areas continues to deliver positive results. We are encouraged by the initial results from the GAP Area, as well as the magnitude of the epithermal system based on our first ever sampling program. Drilling is planned to further test the high-grade mineralization in the GAP Area. These first high-grade gold and silver values show that the GAP Area has significant potential to connect the seven kilometre long vein system from San Marcial to San Juan, as another step in consolidating the mineral potential of the entire Plomosas Project.”
The scientific and technical data contained in this News Release related to the exploration program were reviewed and/or prepared under the supervision of Marcio Fonseca, P. Geo. He has approved the disclosure herein.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within two contiguous Projects – La Trinidad and Plomosas (which includes the integrated San Marcial Area). In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 778 km2 of concessions containing several structural corridors totaling over 75 kilometres in strike length.
GR Silver Mining Ltd.
Mr. Marcio Fonseca, P. Geo.
President & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE GR Silver Mining Ltd.
For further information: Brenda Dayton, VP Corporate Communications, Telephone: +1.604.558.6248, Email: [email protected]