January 31, 2022
GR Silver Mining Underground Drill Results Deliver Wide and High-grade Intervals, 38 m at 299 g/t Ag, Including 1,091 g/t Ag over 2.1 m and 1,002 g/t Ag over 3.5 m, Confirming Potential for Resource Expansion at San Marcial Area
Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV|GRSL, OTCQB|GRSLF, FRANKFURT|GPE) – is pleased to announce additional high-grade silver (Ag) results confirming consistently wide Ag intercepts from underground diamond core drilling at the San Marcial resource expansion program, at the Plomosas Project, Sinaloa, Mexico. These assay results are from the fourth hole of an eight-hole program and indicate the widening of the mineral body at depth and along strike. The successful drill hole confirms a significant expansion of high-grade Ag mineralization approximately 170 m down dip below the lower limit of the San Marcial NI 43-101 mineral resource and approximately 70 m along strike, to the SE of hole SMI21-03 (see News Release dated January 17, 2022) (Figure 1).
Highlights:
- Ag results from SMI21-04 include:
- 299 g/t Ag over 38.0 m from 154.0 m downhole, including:
1,002 g/t Ag over 3.5 m from 157.0 m downhole, and
1,091 g/t Ag over 2.1 m from 188.7 m downhole
- 299 g/t Ag over 38.0 m from 154.0 m downhole, including:
- New wide intercepts of high-grade Ag mineralization display strong continuity to support future resource expansion below the current NI 43-101 mineral resource, which was previously estimated to only 250 m below surface.
- The results show that significant high-grade Ag mineralization is hosted in brecciated units in the hanging wall above the San Marcial Breccia, in new mineralized zones, indicating the widening of the mineralized body at depth and along strike.
- Results from the final four holes in this program are pending.
GR Silver Mining President and CEO, Marcio Fonseca commented “The latest drill results from the underground drilling program at San Marcial continue to impress, with the discovery of increasingly wide Ag intercepts at shallow depth. This result, combined with the recent high-grade, wide Ag intervals reported from drill hole SMI21-03, validates our model for the extension of the San Marcial Breccia Ag mineralization, along strike and down dip. With samples from four drill holes in the laboratory awaiting analysis, we are encouraged by the potential to receive more positive assay results from the remainder of this initial underground drilling program.”