• 83 m @ 420 g/t AgEq¹, together with
• 11 m @ 1,596 g/t AgEq, and
• 4 m @ 1,319 g/t AgEq

VANCOUVER, BC, Jan. 5, 2021 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Firm”) – is happy to report broad and high-grade drill outcomes from the Firm’s underground core drilling program within the Plomosas Mine Space, in addition to validation sampling outcomes from historic drilling, at its 100%-owned Plomosas Silver Challenge (“Plomosas Challenge”) in Sinaloa, Mexico.

The underground drilling program is focusing on bulk tonnage-style mineralization within the Plomosas Mine Space (following the Firm’s latest discovery at degree 775, roughly 250 m beneath floor) aiming to delineate excessive margin treasured and base metals mineralization with potential for giant tonnage and scalability.

The profitable underground exploration drilling program on the Plomosas Mine Space has found extensions to the broad mineralization beforehand sampled at degree 775, each beneath, and laterally to, beforehand mined areas. The mineralization is represented by thick intercepts of Au-Ag-Pb-Zn-Cu mineralization hosted in a sequence of hydrothermal breccias.

Drill intercept highlights from lately accomplished gap PLI20-04² embrace (see additionally Desk 1):

• 83.0 m @ 420 g/t AgEq (2.52 g/t Au, 33 g/t Ag, 0.9 % Pb, 2.9 % Zn and 0.3 % Cu, from 98.0 to 181.0 m), together with:

  • 4.0 m @ 1,319 g/t AgEq (9.35 g/t Au, 38 g/t Ag, 0.4 % Pb, 10.5 % Zn and 0.3 % Cu); and
  • 11.0 m @ 1,596 g/t AgEq (9.41 g/t Au, 135 g/t Ag, 5.7 % Pb, 9.8 % Zn and 0.5 % Cu)

Two oriented underground core drill holes (PLI20-03, PLI20-04), drilled by GR Silver Mining, have offered essential geological, structural and mineralization knowledge, thus aiding the interpretation of those broad, high-grade zones. This knowledge is aiding within the investigation of further broad zones of sulphide-rich (sphalerite, galena and chalcopyrite) mineralization hosted in structurally managed hydrothermal breccias within the Plomosas Mine Space (link to core photos).

4 historic underground drill holes (PLI17-05, PLI17-08, PLI17-15 and PLI17-16), positioned close by, have been additionally validated with new sampling by GR Silver Mining. All knowledge and extra new pattern outcomes are being included right into a 3D geological mannequin (Determine 1).

GR Silver Mining President and CEO, Marcio Fonseca, commented, “These are extraordinary drilling outcomes from the Plomosas Mine Space, indicating potential for measurement and scalability within the geological mannequin to host enticing treasured and base metals mineralization in areas near current underground improvement. We’ll proceed with underground drilling within the neighborhood of this polymetallic mineralization in 2021 and also will apply the technical data to search for comparable mineralization in different targets within the Plomosas Silver Challenge.”

The drill gap PLI20-04 represents a 25 m step-out from the beforehand launched excessive grade discovery  on the deepest degree (775m RL) of the Plomosas Mine Space (see News Release dated 28 September, 2020). The step-out space shows an intersection of two fault methods: the low angle N-S trending Plomosas Fault and excessive angle NE oriented faults (see cross section 2551950N).

The broad mineralized zone is principally comprised of high-grade Au-Ag-Pb-Zn hydrothermal breccia, with late disseminated chalcopyrite (Cu) – pyrite wealthy veins/veinlets. A pervasive chalcopyrite-pyrite quartz stockwork system is widespread not solely on the footwall, but additionally on the hanging wall of the mineralized hydrothermal breccia. This method is outwardly hosted by the 2 fault methods and likewise by particular geological models, oxidized andesites and andesitic tuffs, defining a potential hall alongside strike. An identical fashion of mineralization was lately mapped within the higher ranges of the Plomosas Mine Space and is at present the topic of detailed exploration. Primarily based on the latest underground drilling outcomes, GR Silver Mining is constant the investigation of all historic underground sampling to be able to delineate new zones for drilling, aiming to include all new areas within the upcoming NI 43-101 useful resource estimation.

Desk 1 and a couple of summarize essentially the most important assay outcomes for the underground drill holes reported on this Information Launch.

Desk 1: Underground Drill Gap Outcomes – Information Launch January 05, 2021 (Plomosas Mine Space) 

Desk 2: Historic Underground Drill Gap Outcomes – Information Launch January 5, 2021 (Plomosas Mine Space)

The next desk (Desk 3) summarizes the collar areas for drill holes recognized on this Information Launch.

Desk 3: Drill Gap Places – Information Launch January 5, 2021 (Plomosas Mine Space)

GR Silver Mining believes that the Plomosas Mine Space is a part of a a lot bigger low sulphidation epithermal system as indicated by discipline proof alongside one kilometre of strike size, the place solely 400 m of that strike had beforehand been drilled. The 2020 underground and floor exploration program outlined a number of kinds of mineralization, creating a possibility for the Firm to proceed discovering new mineralized zones near the floor.

Certified Particular person

The scientific and technical knowledge contained on this Information Launch associated to the Plomosas Challenge was reviewed and/or ready below the supervision of Marcio Fonseca, P.Geo. He has accepted the disclosure herein.

High quality Assurance Program and High quality Management Procedures (“QA/QC”)

The Firm has applied QA/QC procedures which embrace insertion of clean and commonplace samples in all pattern tons despatched to SGS de México, S.A. de C.V laboratory amenities in Durango, Mexico, for pattern preparation and assaying. For each pattern with outcomes above Ag >100 ppm (over limits), these samples are submitted instantly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. The analytical strategies are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Hearth Assay with gravimetric end for silver above over limits. For gold assays the analytical strategies are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Hearth Assay and gravimetric end for gold above over limits.

The latest drill holes, accomplished by First Majestic from 2016 to 2018, adopted QA/QC protocols reviewed and validated by GR Silver Mining, together with insertion of clean and commonplace samples in all pattern tons despatched to First Majestic’s Laboratorio Central amenities in La Parilla, Durango, for pattern preparation and assaying. Further validation and verify assays have been carried out by an impartial laboratory at SGS de México, S.A. de C.V. amenities in Durango, Mexico. The analytical strategies utilized for these latest holes for Ag and Au assays comprised of Hearth Assay with Atomic Absorption end for samples above Au >10ppm and Ag >300ppm and Gravimetric End. Pb and Zn have been analyzed utilizing Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not acquired data associated to the Grupo Mexico QA/QC and assay protocols and at this stage is contemplating the data historic for information launch functions.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused firm engaged in cost-effective silver-gold useful resource enlargement on its key property which lie on the jap fringe of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Challenge positioned close to the historic mining village of La Rastra, inside the Rosario Mining District. The Challenge is a past-producing asset the place just one mine, the Plomosas silver-gold-lead-zinc underground mine, operated a 600 tpd crush milling flotation circuit from 1986 to 2001, producing roughly 8 million ounces of silver, 73 million kilos of lead and 28 million kilos of zinc.

The Challenge has an 8,515-hectare property place and is strategically positioned inside 5 km of the Firm’s San Marcial Silver Challenge within the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Challenge included 563 historic and up to date drill holes from each floor and underground areas. These drill holes symbolize an in depth database permitting the Firm to advance in the direction of useful resource estimation and potential mission improvement within the close to future.

The Firm has commenced an 11,900 m drilling program with floor holes centered on increasing recognized mineralization alongside strike in two preliminary areas, the Plomosas Mine Space and the San Juan Space. Underground drilling included in this system will goal the extension of latest polymetallic discoveries on the lowest degree (775 m RL, or ~250 m beneath floor) of the Plomosas Mine Space and 6 low sulphidation epithermal veins at San Juan Space. Each areas would be the topic of NI 43-101 useful resource estimations following completion of this drill program.

The 100%-owned property embrace all amenities and infrastructure together with: entry roads, floor rights settlement, water use allow, 8,000 m of underground workings, water entry, 60 km – 33 KV energy line, places of work, retailers, 120-person camp, infirmary, warehouses and assay lab representing roughly US$30 million of earlier capital investments. The earlier house owners invested roughly US$18 million in exploration, together with intensive geophysics and geochemistry applications.

The silver and gold mineralization on this Challenge show the alteration, textures, mineralogy and deposit geometry traits of a low sulphidation epithermal silver-gold-base steel vein/breccia mineralized system. Earlier exploration was centered on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE buildings within the neighborhood of the Plomosas mine. The E-W portion of the mineralization and extensions for the primary N-S Plomosas fault stay under-explored.

Along with the useful resource potential at Plomosas, a evaluation of the present drill gap database, geophysical surveys and geochemical knowledge overlaying many of the concession, has outlined 16 new exploration targets from which 11 have excessive precedence for future exploration applications.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable mission, which accommodates a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 useful resource estimate. The corporate lately accomplished over 320 m of underground improvement within the San Marcial Useful resource Space, from which underground drilling is deliberate to develop the high-grade parts of the useful resource down dip. The Firm lately found further mineralization within the footwall, exterior of the present useful resource, and also will be drilling this space. GR Silver Mining is the primary firm to conduct exploration at San Marcial in over 10 years. The NI 43-101 useful resource estimate (San Marcial Challenge – Useful resource Estimation and Technical Report) was accomplished by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Current exploration has recognized silver and gold mineralization in areas beforehand outlined as non-mineralized, discovering proof of pervasively altered rocks with intense silicification, veining and related broad, silver and gold mineralized zones on the footwall of the NI 43-101 useful resource.

Plomosas and San Marcial collectively symbolize a geological setting resembling the multimillion-ounce San Dimas Mining District which has traditionally produced greater than 600 Moz silver and 11 Moz gold over a interval of greater than 100 years.

OTHER PROJECTS

GR Silver Mining’s different initiatives are located in areas enticing for future discoveries and improvement in the identical neighborhood of Plomosas and San Marcial within the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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Disclaimer for Ahead-Wanting Info

This press launch accommodates forward-looking statements and data which can be primarily based on the beliefs of administration and mirror the Firm’s present expectations. When used on this press launch, the phrases “estimate”, “mission”, “perception”, “anticipate”, “intend”, “anticipate”, “plan”, “predict”, “might” or “ought to” and the destructive of those phrases or such variations thereon or comparable terminology are meant to establish forward-looking statements and data. Such statements and data mirror the present view of the Firm. Dangers and uncertainties might trigger precise outcomes to vary materially from these contemplated in these forward-looking statements and data. By their nature, forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements.