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GR Silver Mining Announces Discovery of Wide, High-Grade Silver Zone – 101.6 m at 308 g/t Ag, Including Multiple Intervals >1,000 g/t Ag

GR Silver Mining Announces Discovery of Wide, High-Grade Silver Zone – 101.6 m at 308 g/t Ag, Including Multiple Intervals >1,000 g/t Ag
Canada NewsWire
VANCOUVER, BC, Aug. 8, 2022

VANCOUVER, BC, Aug. 8, 2022 /CNW/ – GR Silver Mining Ltd. (“GR S…

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GR Silver Mining Announces Discovery of Wide, High-Grade Silver Zone – 101.6 m at 308 g/t Ag, Including Multiple Intervals >1,000 g/t Ag

Canada NewsWire

VANCOUVER, BC, Aug. 8, 2022 /CNW/ – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce a new silver (Ag) discovery in the first drill hole stepping out 250 m to the southeast of the San Marcial Resource Area on the wholly-owned Plomosas Project in Sinaloa, Mexico. Surface drill hole SMS22-10 intersected 101.6 m at 308 g/t Ag (from 98.5 m down hole), including multiple intervals grading over 1,000 g/t Ag. The hole was drilled 250 m to the SE of the San Marcial Resource Area, where the Company has been exploring the extension of the target contact between upper and lower volcanic units, which typically hosts the San Marcial Breccia Ag mineralization, together with strong ground magnetic anomalies delineated in 2021. The drilling to date in the new area has identified a more extensive breccia and stockwork mineralization, rich in Ag, immediately below the contact zone and extending mineralization far below the original target zone. This new, wide, high-grade silver discovery coincides with an inflexion in the NW-SE trending contact where it intersects with two key NE-SW trending faults (Figure 1). This defines a highly prospective target for continued drilling, both along strike and down dip.

Highlights of the new discovery in the Southeast Area (see also Table 1):
  • Surface drill hole SMS22-10 has identified a wide hydrothermal breccia and stockwork system, with multiple high-grade Ag intervals
  • SMS22-10: 101.6 m at 308 g/t Ag (from 98.5 m down hole), including
       0.8 m at 7,139 g/t Ag (from 98.5 m)
       0.3 m at 3,065 g/t Ag (from 102.9 m)
       0.2 m at 1,774 g/t Ag (from 116.1 m)
       0.2 m at 1,508 g/t Ag (from 118.3 m)
       0.3 m at 1,285 g/t Ag (from 134.4 m)
       4.1 m at 1,004 g/t Ag (from 149.8 m)
       0.4 m at 1,579 g/t Ag (from 156.3 m)
       0.3 m at 1,017 g/t Ag (from 171.5 m), and
       16.2 m at 414 g/t Ag (from 184.0 m), including
       1.3 m at 1,405 g/t Ag (from 198.3 m)
  • Recent detailed mapping by the Company has identified important NE-SW trending faults to the SE of the San Marcial Resource Area (Figure 2). The faults are coincident with Ag anomalies in surface geochemistry and deeper anomalies in our recent ground geophysical survey, forming an inflexion and likely hosting Ag mineralization below the NE-dipping contact zone that typically hosts the San Marcial Breccia
  • Additional drilling is in progress along strike and down dip in the new Southeast Area discovery, and on seven Ag geochemical anomalies in the 1.5 km long target zone

GR Silver Mining Chairman and CEO, Eric Zaunscherb commented, “The discovery of wide, high-grade silver mineralization in this new area is not only evidence of the Plomosas Project’s exploration potential, but also testament to the efficacy of the exploration model developed by our geologists. They have clearly ‘dialed in’, hitting impressive mineralization on a blind target guided by modern exploration tools and concepts. We look forward to continued exploration success and news flow from ongoing drilling, leading to an updated project Mineral Resource Estimate in Q1|23. In addition to wide intersections building tonnage, we are confident that the higher grades encountered in recent drilling may also be meaningfully impactful in the upcoming resource update.”

Southeast Area Discovery

Drill hole SMS22-10 represents a new discovery in the Southeast Area (Figure 1), where no drilling had previously been undertaken. It is in this area that the Company has been targeting the extension of the contact that hosts the breccia mineralization at the San Marcial Resource Area. The discovery drill hole passed through the upper volcanic unit, consisting primarily of andesitic “block and ash” before reaching a hydrothermal breccia (similar to San Marcial Breccia-style of mineralization) at the contact with the underlying (lower) volcano-sedimentary unit. This coincides with the structural setting containing the mineralized San Marcial Breccia at the nearby San Marcial Resource Area. A silver-only mineralized, intensely brecciated and hydrothermally altered zone, intersected immediately below the typical San Marcial Breccia-style mineralization, hosts a wide, high-grade zone measuring 101.6 m and averaging 308 g/t Ag (Table 1). This mineralized zone consists of an intercalation of hydrothermal breccias and quartz veining/flooding containing Ag sulphides (acanthite) and possibly other Ag sulfosalts.

The broad, high-grade interval commenced at 98.5 m down hole with the typical San Marcial-style breccia hosted in the contact between the upper volcanics and lower volcano-sedimentary unit (Figure 4). This hydrothermal breccia is composed of fine hematite cementing mainly lower volcano-sedimentary unit fragments with disseminated sulphides, both in the matrix and in the fragments. This interval returned exceptional Ag grades of 7,139 g/t Ag over 0.8 m (from 98.5 m). Visible sulphides include galena and sphalerite, while Ag sulphides are frequently fine grained and possibly hosted within the hematite.  At 102.9 m depth, this high-grade Ag breccia was followed by an interval containing 3,065 g/t Ag over 0.3 m.

The mineralization discovered below the San Marcial Breccia has a predominance of Ag in the interval from 106 to 171 m, where trace and disseminated Ag sulfosalts are present. This results in a wide, consistently mineralized Ag interval including higher-grade portions such as 1,774 g/t Ag over 0.2 m (from 116.1 m), 1,004 g/t Ag over 4.1 m (from 149.8 m) and 1,579 g/t Ag over 0.4 m (from 156.3 m). The presence of a quartz-sulphide event, which is frequently developed in subvertical E-W and NE oriented structures, cross-cutting the San Marcial-style breccia and volcano-sedimentary unit, delineates a pervasive stockwork-brecciated zone (Figure 3).

From 171 to 202 m, the stockwork-brecciated zone contains more quartz than hematite, demonstrating both subvertical and 45° to 55° dip angles with cross-cutting relationships possibly related to the presence of narrow subvertical dykes. This phase of mineralization consists of a more polymetallic quartz-sericite, acanthite, argentite, and minor galena-sphalerite assemblage (Table 1), demonstrating consistent mineralization up to 414 g/t Ag over 16.2 m (from 184 m), including 1,405 g/t Ag, 1.9 % Zn and 0.8 % Pb (from 198.3 m) (Figure 4).

The discovery extends the known mineralized system 250 m from the edge of the San Marcial Resource Area (Figure 2). Recent mapping has identified major regional NE-SW fault systems likely located between the San Marcial Resource Area and the Southeast Area discovery zone.

Follow-up Drill Program

The discovery of a new wide, high-grade Ag zone in the Southeast Area of San Marcial opens up the potential for significant additional mineralization to the SE of the San Marcial Resource Area. This drill success validates the excellent targeting work undertaken by the Company’s technical team in the last two years, combining detailed mapping, interpretation of a recent ground geophysical survey and geochemical anomalies from an intensive litho-geochemical sampling program.

GR Silver Mining has identified several additional targets in the Southeast Area. Drill holes SMS22-11 to SMS22-13 have been recently completed and are currently being logged and sampled. Laboratory analysis for these holes is pending. Specifically, drill hole SMS22-12 was drilled below the SMS22-10 discovery hole, whilst an additional hole (SMS22-15) is currently in the early stages of drilling below SMS22-12 (Figure 3). The Company anticipates that drilling will continue with two rigs over the coming months in the Southeast Area of San Marcial.

Table 1:  San Marcial Southeastern Area – Results Highlights SMS22-10 (for individual Ag results refer to Table 3)

Drill Hole

From (m)

To (m)

Apparent 
width (m)

Ag g/t

Au g/t

Pb %

Zn %

SMS22-10

55.0

81.2

26.2

2

0.12

na

na

98.5

200.1

101.6

308

0.02

0.1

0.3

including

98.5

99.3

0.8

7,139

0.04

1.6

1.3

and

102.9

103.2

0.3

3,065

na

0.1

0.2

and

116.1

116.3

0.2

1,774

0.01

na

0.1

and

118.3

118.5

0.2

1,508

na

na

0.1

and

134.4

134.7

0.3

1,285

0.04

0.1

0.5

and

149.8

153.9

4.1

1,004

0.06

0.2

0.3

and

156.3

156.7

0.4

1,579

0.06

na

0.1

and

171.5

171.8

0.3

1,017

0.15

0.4

0.7

and

184.0

200.1

16.2

414

0.05

0.4

0.9

including

198.3

199.6

1.3

1,405

0.20

0.8

1.9

Numbers may be rounded. Results are uncut and undiluted. True width not estimated as the Company does not have sufficient data from this new mineralized zone to determine the true widths of the drill hole intervals with any confidence.

 “na” = no significant result.

 

Drill Core from 97.15 m to 117.3 m

Contact between upper and lower volcanics with Ag mineralized, hematitic San Marcial-style breccia containing visible galena, sphalerite and Ag sulphides, and transitioning to stockwork/breccia.

Drill Core from 193.95 m to 199.55 m

Deeper in the Ag mineralized interval where stockwork/brecciation contains more quartz-sericite than hematite along with polymetallic acanthite, argentite, and minor galena-sphalerite mineralization.

Table 2:   2022 San Marcial Drill Program – Southeast Area Drill Hole Details

Drill Hole

East (m)

North (m)

RL (m)

Dip (˚)

Azimuth (˚)

Depth (m)

Results Status

SMS22-09 *

450815

2545982

877

-50

220

18.0

Pending

SMS22-10

441442

2545868

709

-50

250

235.8

Received

SMS22-11

441442

2545868

709

-45

205

160.9

Pending

SMS22-12

451501

2545921

700

-60

240

337.5

Pending

SMS22-13

451523

2545781

697

-50

220

229.3

Pending

Note: all holes drilled from surface; WGS84 Datum – * Drillhole completed as extension down plunge of resource area

 

Table 3:   SMS22-10 Individual Silver Assay Results (ppm)

From

To

Length

Ag

From

To

Length

Ag

From

To

Length

Ag

From

To

Length

Ag

 ppm

ppm

 ppm

ppm

0

55

55

na

103.15

103.45

0.3

206

145.9

146.7

0.8

15

186.3

186.8

0.5

934

55

55.55

0.55

3

103.45

103.8

0.35

303

146.7

147.45

0.75

50

186.8

187.5

0.7

152

55.55

56.35

0.8

3

103.8

104.6

0.8

18

147.45

148.15

0.7

25

187.5

188

0.5

129

56.35

57.15

0.8

1

104.6

104.8

0.2

599

148.15

149.1

0.95

274

188

188.75

0.75

131

57.15

58

0.85

1

104.8

105.45

0.65

16

149.1

149.8

0.7

659

188.75

189.5

0.75

28

58

58.3

0.3

2

105.45

106.05

0.6

6

149.8

150.15

0.35

1530

189.5

190.3

0.8

217

58.3

59

0.7

2

106.05

106.35

0.3

87

150.15

150.9

0.75

1197

190.3

190.75

0.45

133

59

60

1

1

106.35

107.1

0.75

27

150.9

151.55

0.65

463

190.75

191.4

0.65

567

60

60.85

0.85

1

107.1

107.75

0.65

83

151.55

152.1

0.55

1265

191.4

192.1

0.7

844

60.85

61.65

0.8

1

107.75

108.75

1

20

152.1

152.75

0.65

209

192.1

192.35

0.25

433

61.65

62

0.35

1

108.75

109.15

0.4

315

152.75

153.45

0.7

1329

192.35

192.8

0.45

316

62

62.95

0.95

2

109.15

109.95

0.8

72

153.45

153.85

0.4

1427

192.8

193.2

0.4

231

62.95

63.6

0.65

1

109.95

110.7

0.75

39

153.85

154.2

0.35

955

193.2

194.2

1

135

63.6

64.15

0.55

3

110.7

111

0.3

243

154.2

154.7

0.5

407

194.2

194.55

0.35

129

64.15

65

0.85

3

111

112

1

150

154.7

155.3

0.6

177

194.55

195.1

0.55

567

65

65.9

0.9

2

112

112.7

0.7

15

155.3

155.85

0.55

676

195.1

195.7

0.6

358

65.9

66.7

0.8

1

112.7

113.7

1

440

155.85

156.3

0.45

437

195.7

196.3

0.6

313

66.7

67.5

0.8

1

113.7

114.55

0.85

118

156.3

156.65

0.35

1579

196.3

197.05

0.75

729

67.5

68.2

0.7

1

114.55

115.3

0.75

27

156.65

157.65

1

340

197.05

197.65

0.6

518

68.2

68.8

0.6

2

115.3

116.05

0.75

243

157.65

158.5

0.85

523

197.65

198.25

0.6

801

68.8

69.4

0.6

1

116.05

116.25

0.2

1774

158.5

159.5

1

183

198.25

198.6

0.35

2088

69.4

69.95

0.55

3

116.25

117.3

1.05

33

159.5

160.1

0.6

273

198.6

199.55

0.95

1154

69.95

70.9

0.95

1

117.3

118.3

1

56

160.1

160.75

0.65

123

199.55

200.1

0.55

167

70.9

71.75

0.85

1

118.3

118.5

0.2

1508

160.75

161.25

0.5

125

200.1

200.8

0.7

20

71.75

72.6

0.85

2

118.5

119.5

1

60

161.25

161.9

0.65

278

200.8

201.2

0.4

15

72.6

73.05

0.45

2

119.5

120.1

0.6

117

161.9

162.85

0.95

185

201.2

202.05

0.85

64

73.05

74.1

1.05

3

120.1

121

0.9

61

162.85

163.35

0.5

112

202.05

202.75

0.7

122

74.1

75.1

1

1

121

122

1

253

163.35

164.25

0.9

16

202.75

203.35

0.6

45

75.1

75.8

0.7

5

122

123

1

53

164.25

164.8

0.55

105

203.35

204.05

0.7

28

75.8

76.45

0.65

4

123

124

1

124

164.8

165.2

0.4

30

204.05

204.7

0.65

5

76.45

77.3

0.85

5

124

125

1

87

165.2

165.7

0.5

101

204.7

204.9

0.2

19

77.3

77.65

0.35

4

125

125.8

0.8

51

165.7

166.7

1

233

204.9

205.75

0.85

10

77.65

78.55

0.9

3

125.8

126.6

0.8

87

166.7

167.75

1.05

51

205.75

206.4

0.65

11

78.55

79.4

0.85

2

126.6

127.25

0.65

93

167.75

168.8

1.05

12

206.4

207.3

0.9

7

79.4

80.3

0.9

4

127.25

127.5

0.25

187

168.8

169.1

0.3

49

207.3

208.2

0.9

6

80.3

81.15

0.85

5

127.5

128.05

0.55

134

169.1

169.8

0.7

48

208.2

209.1

0.9

6

81.15

82

0.85

2

128.05

128.6

0.55

166

169.8

170.6

0.8

19

209.1

210

0.9

14

82

82.85

0.85

2

128.6

129.45

0.85

311

170.6

171.45

0.85

31

210

210.9

0.9

7

82.85

83.15

0.3

3

129.45

130.25

0.8

445

171.45

171.75

0.3

1017

210.9

211.8

0.9

3

83.15

83.75

0.6

2

130.25

130.75

0.5

149

171.75

172.2

0.45

155

211.8

212.7

0.9

4

83.75

84.3

0.55

1

130.75

131.35

0.6

223

172.2

172.65

0.45

28

212.7

213.6

0.9

3

84.3

84.9

0.6

2

131.35

131.9

0.55

379

172.65

173.45

0.8

86

213.6

214.6

1

5

84.9

85.9

1

1

131.9

132.6

0.7

233

173.45

173.65

0.2

147

214.6

215.5

0.9

5

85.9

86.9

1

3

132.6

133.3

0.7

366

173.65

174.3

0.65

531

215.5

216.45

0.95

3

86.9

87.9

1

3

133.3

134

0.7

238

174.3

174.65

0.35

127

216.45

217.4

0.95

4

87.9

88.7

0.8

4

134

134.2

0.2

197

174.65

174.9

0.25

169

217.4

218.3

0.9

2

88.7

89.5

0.8

2

134.2

134.4

0.2

250

174.9

175.2

0.3

44

218.3

219.2

0.9

3

89.5

90.2

0.7

4

134.4

134.7

0.3

1285

175.2

176.1

0.9

82

219.2

220.1

0.9

4

90.2

91

0.8

11

134.7

135.55

0.85

129

176.1

176.35

0.25

454

220.1

221.1

1

1

91

91.9

0.9

4

135.55

135.9

0.35

142

176.35

177

0.65

29

221.1

222.1

1

3

91.9

92.8

0.9

3

135.9

136.35

0.45

364

177

177.75

0.75

10

222.1

223.1

1

4

92.8

93.7

0.9

1

136.35

137.35

1

166

177.75

178.3

0.55

70

223.1

224.1

1

2

93.7

94.6

0.9

3

137.35

138.3

0.95

223

178.3

179.25

0.95

58

224.1

225

0.9

2

94.6

95.4

0.8

3

138.3

139.2

0.9

133

179.25

179.95

0.7

53

225

225.8

0.8

4

95.4

96.2

0.8

15

139.2

140.1

0.9

110

179.95

180.5

0.55

88

225.8

226.8

1

1

96.2

97

0.8

5

140.1

140.7

0.6

110

180.5

180.95

0.45

24

226.8

227.8

1

1

97

97.85

0.85

6

140.7

141.3

0.6

539

180.95

181.25

0.3

244

227.8

228.8

1

2

97.85

98.5

0.65

4

141.3

142.2

0.9

20

181.25

181.75

0.5

52

228.8

229.8

1

1

98.5

98.85

0.35

10550

142.2

142.75

0.55

64

181.75

182.2

0.45

23

229.8

230.8

1

1

98.85

99.3

0.45

4486

142.75

143.4

0.65

21

182.2

182.7

0.5

30

230.8

231.6

0.8

4

99.3

100.2

0.9

204

143.4

143.85

0.45

322

182.7

183.3

0.6

20

231.6

232.3

0.7

84

100.2

100.8

0.6

86

143.85

144.1

0.25

193

183.3

183.95

0.65

57

232.3

233.1

0.8

1

100.8

101.5

0.7

87

144.1

144.55

0.45

105

183.95

184.35

0.4

252

233.1

233.9

0.8

5

101.5

101.95

0.45

189

144.55

144.95

0.4

45

184.35

185.3

0.95

83

233.9

234.8

0.9

4

101.95

102.9

0.95

61

144.95

145.25

0.3

45

185.3

185.9

0.6

82

234.8

235.8

1

1

102.9

103.15

0.25

3065

145.25

145.9

0.65

197

185.9

186.3

0.4

32

Numbers may be rounded. Results are uncut and undiluted. Intervals shown are down hole intervals.

“na” = no significant result.

 

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The Company has implemented QA/QC procedures which include insertion of blank, duplicate and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, BC. The analytical methods are four acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

Qualified Person

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 the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km2 of concessions containing several structural corridors totaling over 75 km in strike length.

GR Silver Mining Ltd.
Eric Zaunscherb
Chairman & 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.

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