GR Silver Mining is expanding the SE area silver discovery with a new broad interval of 123.1m at 112 g/t Ag, including 13.1m at 289 g/t Ag and 0.4m at 4,680 g/t Ag
Highlights of surface drilling results at the Southeast area at San Marcial
- SMS22-16: Identified a broad hydrothermal breccia and stockwork system with multiple high-grade Ag intervals, similar to the broad hydrothermal system in discovery hole SMS22-10 (see press release dated
August 8, 2022 ). SMS22-16 crossings are summarized as:
123.1m at 112g/t Ag including:
13.1m @ 289g/t Ag including 0.4 m at 4,680 g/t Ag
27.3m @ 250g/t Ag including 0.3 m @ 1,351 g/t Ag
6.4m @ 635g/t Ag including 0.5 m at 2,203 g/t Ag
- SMS22-14: Confirmation of Ag mineralization at a shallow depth of 150m along strike from the southeast area (Figure 1). Presence of broad Ag mineralization with isolated high grade values. SMS22-14 crossings are summarized as:
10.5m @ 23g/t Ag
3.5m @ 118g/t Ag including 0.2 m @ 1,790 g/t Ag
- The drilling program continues in the SE area to define the geometry and lateral extensions of the mineralization. Results to date indicate that high-grade, thick Ag mineralization may be present at shallow depths from surface where Ag values are relatively low, as seen in shallow drill hole SMSP22-023 (Table 1). The occurrence of anomalous Ag zones at surface along the 1.5 km long target contact further southeast of the southeast area (Figure 1) provides the Company with new targets for continued drilling aimed at expanding the mineralization footprint and potentially included in the planned Q1|23 resource estimate update.
Southeast Area Drill Program
Following the recent discovery of broad, high-grade Ag mineralization in the southeast area of San Marcial, the Company continues to drill holes to test the geometry and continuity of the mineralization at depth and laterally.
SMS22-16 was designed to test the lateral continuity, approximately 90m to the southeast, of the broad high-grade Ag mineralization intersected in SMS22-10 (Figure 1). The breccia-hosted Ag-rich mineralization and intense hematite-quartz stockwork veins encountered in SMS22-16 are very similar to the style of mineralization encountered in SMS22-10 and are at the same key elevation between the 650 and 550 levels, but follow the NW trend within the promising corridor at the intersection with the NE trend. Similar to SMS22-10, the SE continuity of the discovery zone is now confirmed by SMS22-16, which exhibits multiple breccia stages and a series of andesitic dykes intruding in contact with the lower volcanic sedimentary unit and hosting Ag mineralization.
SMS22-14 tested the extension of the mineralized contact zone 125m southeast of SMS22-13 and encountered a geological setting similar to that identified in SMS22-10. SMS22-14 targeted a low-grade surface Ag geochemical anomaly relatively close to the target contact to assess the presence and continuity of shallow Ag mineralization outside of the northeast trending structural corridor that defines the discovery zone in the SE area houses. The results support further drilling in the area, down dip and along strike, as it is common in the southeast area for broad high-grade Ag mineralization to occur at some depth, with surface expression represented by broad low-grade Ag zones.
SMS22-15 was drilled 80m below SMS22-12 (Figure 2). The results indicate that the mineralization on this interval – SMS22-10, SMS22-12 and SMS22-15 – is part of an extensive breccia and stockwork system with typical “pinch and swell” geometry.
Table 1: San Marcial Area, Southeast – Highlights of Results
borehole |
From (m) |
to the) |
evident Broad (m) |
Ag g/t |
Au g/t |
Pb % |
Zn % |
SMS22-14 |
26.8 |
37.3 |
10.5 |
23 |
0.06 |
n / A |
n / A |
85.0 |
88.5 |
3.5 |
118 |
0.02 |
n / A |
0.1 |
|
including |
88.3 |
88.5 |
0.2 |
1,790 |
0.03 |
0.7 |
2.9 |
103.5 |
104.3 |
0.8 |
392 |
0.04 |
0.2 |
0.5 |
|
142.0 |
152.9 |
10.9 |
22 |
0.08 |
n / A |
n / A |
|
SMS22-15 |
322.4 |
328.3 |
5.9 |
34 |
0.03 |
0.4 |
1.1 |
SMS22-16 |
65.8 |
188.9 |
123.1 |
112 |
0.06 |
n / A |
0.1 |
including |
66.8 |
79.9 |
13.1 |
289 |
0.05 |
n / A |
0.1 |
including |
72.3 |
72.7 |
0.4 |
4,680 |
0.87 |
0.1 |
0.1 |
and |
115.6 |
142.9 |
27.3 |
250 |
0.10 |
0.1 |
0.3 |
including |
116.7 |
117.0 |
0.3 |
1,351 |
0.30 |
0.1 |
0.2 |
and |
117.3 |
123.6 |
6.4 |
635 |
0.08 |
0.2 |
0.3 |
including |
119.5 |
120.0 |
0.5 |
2.203 |
0.17 |
0.8 |
1.4 |
including |
148.5 |
150.0 |
1.5 |
102 |
2.6 |
n / A |
n / A |
SMSP22-023 |
22.3 |
26.0 EOH |
3.7 |
158 |
0.01 |
n / A |
n / A |
Numbers may be rounded. The results are uncut and undiluted. True width not estimated as the company does not have one
sufficient data from this new mineralized zone to reliably determine true widths of drill hole intersections. |
|
Table 2: 2022 San Marcial Drill Program – Southeast Area Drill Hole Details
borehole |
east (m) |
north (m) |
RL (m) |
Dive (˚) |
azimuth (˚) |
depth (m) |
Results |
SMS22-14 |
451620 |
2545715 |
725 |
-60 |
210 |
182.6 |
this edition |
SMS22-15 |
451501 |
2545921 |
700 |
-80 |
240 |
408.0 |
this edition |
SMS22-16 |
451474 |
2545840 |
690 |
-50 |
205 |
243.6 |
this edition |
SMS22-17 |
451473 |
2546016 |
723 |
-50 |
225 |
380.0 |
Pending |
SMS22-18 |
451388 |
2545903 |
760 |
-48 |
225 |
336.0 |
Pending |
SMS22-19 |
451389 |
2545770 |
709 |
-50 |
210 |
in progress |
|
SMS22-20 |
451388 |
2545903 |
760 |
-50 |
160 |
in progress |
|
SMSP22-023 |
451460 |
2545735 |
678 |
-45 |
340 |
26 |
this edition |
Note: All holes drilled from surface; WGS84 datum |
|
Quality Assurance Program and Quality Control Procedures (“QA/QC”)
The Company has implemented QA/QC procedures that include the insertion of blanks, duplicates and standards into all batches of samples sent to SGS de México,
Qualified Person
The Qualified Person for this news release as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects
Around
Eric Zaunscherb
chairman
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities laws and information that are based on management’s beliefs and reflect the Company’s current expectations. As used in this press release, the words “estimate”, “forecast”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negatives of these words or such variations thereof or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the Company’s current views. Risks and uncertainties could cause actual results to differ materially from those contained in these forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements or other future events to differ materially from the future results, performance or achievements expressed or implied by such forward-looking statements .
Neither the
SOURCE
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