GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) (FRA:GPE) announced drill results from the underground core drilling program in the Plomosas Mine Area at its 100%-owned Plomosas Silver Project in Mexico, which included 83 metres of 420 grams per tonne (g/t) silver equivalent consisting of 2.52 g/t gold, 33 g/t silver, 2.9% zinc, and 0.3% copper from 98 to 181 metres (m).
The company noted that the underground program, which is targeting bulk tonnage-style mineralization in the Plomosas Mine Area, has discovered extensions to the wide mineralization previously sampled at level 775, both below, and laterally to previously-mined areas.
GR Silver Mining President and CEO, Marcio Fonseca , commented, “These are extraordinary drilling results from the Plomosas Mine Area, indicating potential for size and scalability in the geological model to host attractive precious and base metals mineralization in areas close to existing underground development,” said GR Silver Mining CEO Marcio Fonseca in a statement.
READ: GR Silver Mining looking to define a 'substantial' new resource at exciting Plomosas project in Mexico
He added: “We will continue with underground drilling in the vicinity of this polymetallic mineralization in 2021 and will also apply the technical knowledge to look for similar mineralization in other targets in the Plomosas Silver Project.”
The company said the mineralization discovered is represented by thick intercepts of gold, silver, lead, zinc, and copper mineralization hosted in a series of hydrothermal breccias.
It added that four historic underground drill holes located nearby were also validated with new sampling, with those results set to be incorporated into a 3D geological model.
The company also noted that based on the recent underground drilling results it is continuing the investigation of all historical underground sampling in order to delineate new zones for drilling, while aiming to incorporate all new areas in its upcoming NI 43-101 resource estimation.
GR Silver Mining said it believes the Plomosas Mine Area is part of a much larger low sulphidation epithermal system as indicated by field evidence along one kilometre of strike length, where only 400 m of that strike had previously been drilled.
It added that the 2020 underground and surface exploration program defined multiple styles of mineralization, creating an opportunity for the company to continue discovering new mineralized zones close to the surface.
Shares added almost 11% at C$0.91 in Toronto.
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