El Placer II Summary
The area has a long mining history with numerous informal miners and well-established local mining companies reportedly operating in the region since the 1700’s until the early 1900’s. Together with the Rosario Mining District, the Concordia Mining District was historically a buoyant mining district from the 1700’s to early 1900’s. There were four large processing plants, named San Nicolas- Hernandez (Compania Minera Panuco), Santa Rossa and Rio Florido. The historical records indicated processing of gold silver rich ores and base metals -Pb-Zn ores with gold and silver as by-products. Modernization occurred in the early 1900’s with introduction of cyanide leaching in the district.
The El Placer II concession covers 11,000 Ha. The area hosts many sites with evidence of historical artisanal mining.
The El Placer II project sits on the intersection of two major pull apart structures, graben Panuco and Fossa Caliente, evidencing a highly prospective geological setting to host epithermal and/ or pull apart-related precious and base metals mineralization.
The regional geology hosts lower and upper volcanic tertiary sequences intruded by Jurassic granodiorites. There is a predominance of NW regional structures intersected by NEstructures, hosting magnetic and geochemical anomalies.
GR Silver Mining recently completed data processing of historical and recent exploration data covering the areas, including aeromagnetic geophysical surveys and regional geochemical surveys.GR Silver Mining plans to develop priority follow up targets based on an anticipated exploration program in 2018.
Marcio Fonseca, P.Geo., Chief Operating Officer & Director of the Company, is the Qualified Person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, responsible for the preparation of the technical information included in this website and for supervision of field activities related to the Company projects.