GR Silver Mining (TSXV: GRSL; US-OTC: GRSLF) delivered the first 43-101 compliant resource estimate for its Plomosas project in Sinaloa, Mexico.
The resource estimate at Plomosas includes two areas - the former Plomosa mine and San Juan. The estimate included 80 new drill holes from surface and underground drilling this year, as well as 476 historic drill holes representing a total of 100,672 metres of drilling.
The indicated portion of the resource estimate stands at 2.4 million tonnes averaging 44 grams silver per tonne, 0.68 gram gold per tonne, 1.4% zinc, and 0.9% lead (133 grams silver-equivalent per tonne) for contained metal of 3.4 million oz. contained silver, 53,000 oz. gold, 48.1 million lb. lead, and 72.8 million lb. zinc or 10.3 million silver-equivalent ounces.
Inferred resources measure 5.8 million tonnes grading 46 grams silver per tonne, 0.46 gram gold per tonne, 1.2% zinc, and 0.9% lead (113 grams silver-equivalent per tonne) for 8.6 million oz. silver, 85,000 oz. gold, 115.7 million lb. lead and 148.6 million lb. zinc or 21 million oz. silver-equivalent.
The company is currently undertaking a 14,000-metre drill program with seven rigs on newly identified, high priority gold and silver targets outside the current resource areas on the project.
Resource expansion drilling is also underway at the San Marcial property, 5 km south of Plomosas. The numbers for San Marcial were updated in 2020 to contain 7.6 million indicated tonnes grading 117 grams silver per tonne, 0.5% zinc, and 0.3% lead (147 grams silver-equivalent per tonne). The inferred portion is 3.4 million tonnes at 91 grams silver, 0.4% zinc, and 0.1% lead (108 grams silver-equivalent per tonne).
GR Silver controls portions of the Rosario mining district of Mexico, site of world class precious metals mines, most notably the Rosario gold-silver mine that produced for 250 years.
The Plomosas underground mine was in production from 1986 to 2001. GR Silver acquired it from First Majestic Silver (TSX: FR; NYSE: AG) in March 2020.