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GR Silver Mining says pleased with exploration at Plomosas ahead of upcoming drill program

A silver, gold, lead, zinc underground mine previously operated at the site

GR Silver Mining -
The system hosts not only silver, lead, zinc but also gold-silver enriched veins in high angle fault zones

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.

READ: GR Silver Mining drills more high grade gold and silver at Plomosas project

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.

Contact the author at giles@proactiveinvestors.com

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Price: 0.57 CAD

TSX-V:GRSL
Market: TSX-V
Market Cap: $70.5 m
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