GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GLYXF) has reported more high-grade drill results from its Plomosas silver project in Mexico, which it said extends a gold-silver mineralized system for at least 1 kilometre.
A silver, gold, lead, zinc underground mine previously operated at the site and the firm continues to review its potential, using historical drill data along with its own findings.
Results reported on Tuesday hail from the San Juan-La Colorada area from 2018 - one of six priority areas. The assays show silver and gold mineralized zones in a 600 metre (m) step out from previously released drill hole results at San Juan, supporting a model where both areas - La Colorada and San Juan - are part of a single significant epithermal system, the company said.
This system hosts not only silver, lead, zinc but also gold-silver enriched veins in high angle fault zones, it added. Results included 1,723 grams per ton (g/t) silver-equivalent over 2.7m, comprising 15.1 g/t gold, 45 g/t silver, 3.1% lead and 0.9% zinc, including 5,055 g/t silver equivalent over 0.9m.
"We are very pleased with the progress of our exploration program at Plomosas," GR Silver Mining chief executive Marcio Fonseca said in a statement. "We see significant strike length, down-dip extensions and the presence of multiple veins, exhibiting the potential to define a large low sulphidation epithermal system covering most of the areas previously drilled."
"To date, we have been able to collect key geological and geometrical components for the silver-gold mineralized system at the San Juan-La Colorada Area, providing support for our upcoming drilling program. Results to date are indicating that both mineralization styles, Au-Ag epithermal veins and Ag-Pb-Zn hydrothermal breccias, are present, defining a large system with multi-kilometre strike potential," he added.
GR Silver is focused on cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario mining district in the Sinaloa state of Mexico.
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