Results show polymetallic hydrothermal breccia (silver-gold-lead-zinc) intersections near surface at Plomosas
Ltd (CVE: GSRL) (OTCQB: GRLSF) announced new drill results in the northern portion of its Plomosas mining area that reveal high grade mineralization in the untapped portions of the historic mine.
Results show polymetallic hydrothermal breccia (silver-gold-lead-zinc) intersections near surface at Plomosas, a primary silver project in Sinaloa, Mexico.
Highlights include 1.8 meter (m) at 15.8 grams per ton (g / t) gold, 1.1% lead (Pb), 3.9% zinc (Zn) and 17 g / t silver (Ag) for 1,779 g / t of silver equivalent (AgEq) and 6.2 m at 171 g / t Ag, 1.1% Pb, 0.7% Zn, 0.2% copper ( Cu) and 0.4 g / t Au for 282 g / t AgEq.
Another intersection revealed 8.1 m at 227 g / t Ag, 1.7% Pb, 1.4% Zn, 0.1% Cu and 0.3 g / t Au for 354 g / t AgEq.
“Reported drill results continue to demonstrate the presence of high-grade precious metal mineralization in undeveloped areas of the historic Plomosas mine area,” GR Silver CEO Marcio Fonseca said in a statement.
The results also confirm the presence of large polymetallic hydrothermal breccia (Ag-Au-Pb-Zn) in under-explored extensions that will be incorporated into GR Silver’s next resource estimate at Plomosas, Fonseca told investors.
He added, “The company has also discovered large polymetallic silver and gold rich mineralization near the surface in the form of high grade epithermal veins, as well as broad shallow mineralized zones that demonstrate potential for future development. open pit in a historic deposit. and the underground zinc mining project.
Vancouver-based GR Silver has completed 16,000 meters of drilling at Plomosas since acquiring the project in 2020.
The company told shareholders that structural and geological mapping and studies in the area have revealed what may be a district-wide silver and gold-rich epithermal system. He plans to continue exploration along the direction of the mineralized system both in the Plomosas mine area and in the San Juan area to try to locate extensions to be included in the planned resource estimate.
Meanwhile, GR Silver also said it has received approval for an exchange for an equity-for-debt transaction originally announced on May 13, issuing 45,999 shares to settle a debt of $ 32,659.
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