GR Silver Mining (TSXV: GRSL) has delivered the first 43-101 compliant resource estimate for the former Plomosas silver mine in Sinaloa, Mexico. Both historic data and the results from this year’s surface and underground diamond drill program were used.
The resource estimate includes both the Plomosas and San Juan areas. The indicated portion is 2.4 million tonnes averaging 44 g/t silver, 0.68 g/t gold, 1.4% zinc, and 0.9% lead (a silver equivalent grade of 133 g/t). The inferred resource is 5.8 million tonnes grading 46 g/t silver, 0.46 g/t gold, 1.2% zinc, and 0.9% lead (a silver equivalent grade of 113 g/t).
The key permits are in place and there is existing infrastructure, the company reports.
Resource expansion drilling is also underway at the San Marcial property, 5 km south of Plomosas. The numbers were updated in 2020 to contain 7.6 million indicated tonnes grading 117 g/t silver, 0.5% zinc, 0.3% lead (or 147 g/t silver equivalent). The inferred portion is 3.4 million tonnes at 91 g/t silver, 0.4% zinc, and 0.1% lead (108 g/t silver equivalent).
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.
(This article first appeared in the Canadian Mining Journal)