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GR Silver extends Plomsas strike

GR Silver Mining has reported successful 50m step-out drilling at its Plomosas silver project in Sinaloa, Mexico.
GR Silver extends Plomsas strike GR Silver extends Plomsas strike GR Silver extends Plomsas strike GR Silver extends Plomsas strike GR Silver extends Plomsas strike

Plomosas in Sinaloa, Mexico

Staff reporter

High-grade silver mineralised zones were intersected which confirm the silver mineralised system has a continuity of at least 500m along strike. Drilling extended the continuity of both mineralisation styles: silver-gold low sulphidation epithermal veins and polymetallic high-grade silver-lead-zinc hydrothermal breccias, up to 700m down dip below surface.

Highlights included 5.4m grading 1,096 grams per tonne silver, 0.3% lead and 0.2% zinc for 1,112g/t silver-equivalent including 2m grading 2,484g/t silver, 0.7% lead and 0.3% zinc, for 2,498g/t silver-equivalent.

"Our recent validation and integration of all drill results, underground structural mapping and sampling, supports the occurrence of additional mineralised veins outside of that major structure. These results illustrate the potential to expand silver-gold mineralisation along strike and down-dip, creating a much larger mineralised footprint for future resource estimation," said president and CEO Marcio Fonseca.

Drilling indicated the discovery of multiple subparallel mineralised systems below the current footwall of previously mined areas, with a large epithermal system evident based on the most recently released set of drill results.

GR Silver has initiated a shallow 100-150m depth surface drilling programme aiming to confirm the mineralisation footprint and the new high-grade vein discoveries along strike and down dip.

Shares in GR Silver Mining are trading at C71c, valuing the company at $86 million.