GR Silver Mining Ltd., - President and CEO, Marcio Fonseca
President and CEO, Marcio Fonseca
Source: 121 Mining Investment Events
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  • GR Silver Mining (TSXV:GRSL) has posted its assay results from a section of its Plomosas project
  • The project in Sinaloa, Mexico has six high-priority exploration areas
  • The assay results came from San Juan, one of these high-priority targets
  • Assay results returned 3.5m at 2,930 grams per tonne silver equivalent
  • GR Silver (TSXV:GRSL) is down 3.6 per cent, and trading for $0.40 per share with a $42 million market cap

Silver explorer GR Silver (TSXV:GRSL) has posted assay results of nearly 3,000 grams per tonne from its Plomosas project.

The San Juan area of the project in Sinaloa has returned impressive silver assays of 3.5m at 2,930 grams per tonne silver equivalent. That same drill hole also returned 15.5 grams per tonne of gold.

The high-grade breccia that returned these results is particularly important to the company, as it represented a near-surface mineralised system. This would be an easy and immediate production target for GR Silver.

Another drill hole intersected 15m at 108 grams per tonne silver, 4.7 per cent zinc, and 0.12 grams per tonne gold.

The polymetallic structure that returned these results is typical of the mineralised structure that dot the Plomosas Project. Several other occurrences have been discovered within the property.

GR Silver’s President and CEO, Marcio Fonseca, said that the company is pleased with the results.

“These significant results demonstrate the district-scale potential for high-grade silver-gold vein within the Plomosas Project.

“We can trace the San Juan Regional structure on surface for over 2km within an altered and mineralised trend.

“Additionally, the identification of multiple subparallel secondary structures supports the upside potential for new discoveries,” he said.

GR Silver has committed to an extended drilling program at the site. The company will release results on the other five targeted mineralised zones at the Plomosas Project as they become available.

GR Silver Mining (TSXV:GRSL) is down 3.6 per cent, and trading for $0.40 per share at 12:04pm EST.

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