en.Wedoany.com Reported - GR Silver Mining (TSX Venture Exchange: GRSL; OTC Markets: GRLF; Frankfurt Stock Exchange: GPE) is relocating its operational base from Sinaloa, Mexico, to the neighboring state of Durango to reduce risk and expand its drill rig fleet from three to five.
Interim President and CEO Eric Zaunscherb confirmed after completing site visits that the geographic shift initiated by company founder Marcio Fonseca in November 2025 is progressing. The visits included the Rosario district in Sinaloa, the logistics base in Durango, and the new office in Mexico City. The company currently holds CAD 28.5 million in cash with no debt, funding the operational transfer and the 2026 work program without near-term reliance on equity markets.
This adjustment relocates the company's primary operational infrastructure from Sinaloa to Durango. The relocation of the core camp and exploration office has changed the physical supply chain for the San Marcial and Plomosas projects: personnel, contractors, and equipment are now routed primarily through Durango rather than Sinaloa, and daily operational decisions are made from a jurisdiction with lower mining operational risk.
The company is upgrading the main secondary road connecting Durango City to the project sites, which management describes as the operational "back door." Before the upgrade is completed, three drill rigs represent the physical limit of the 20,000-meter drilling program; adding a fourth or fifth rig requires safe access to accommodate additional equipment and personnel. Zaunscherb confirmed that the road upgrade will enable the introduction of fourth and fifth drill rigs, significantly increasing drilling meters and accelerating the assay process needed to support an updated Mineral Resource Estimate (MRE) in the first half of 2027.
Since the San Marcial and Plomosas mines are located on the border between Sinaloa and Durango, both assets are physically accessible from Durango. By routing the supply chain through Durango, only the final few kilometers of the operational footprint remain in Sinaloa. Zaunscherb stated that access from Durango significantly reduces the company's risk profile. The safety and security of employees and contractors is a priority; the company has engaged external advisors for guidance on the operating environment, and its country manager has accumulated operational experience at a major Mexican mining producer, familiar with local regulatory and permitting environments.
GR Silver's CAD 28.5 million cash position was raised through two equity financings: a CAD 13.8 million financing completed in August 2025, and a CAD 20 million financing completed in December 2025. The funds support four main work streams for 2026: a 20,000-meter drilling program, a bulk sample trial mining (BSTM) at Plomosas, an updated Mineral Resource Estimate (MRE), and commissioning a Preliminary Economic Assessment (PEA). Over the 12 months ending June 2026, GR Silver's share price rose 142.42%; the stock ranked among the top ten daily trading volumes on the TSX Venture Exchange between July and November 2025, with an average daily volume of 6.5 million shares, and ranked in the top four among 658 mid-cap companies on the exchange in February 2026. As of May 29, 2026, on an undiluted basis at CAD 0.40 per share, the company's market capitalization was CAD 204 million. On an enterprise value basis, GRSL trades at USD 1.65 per ounce of in-situ silver, compared to a peer average of USD 3.43 per ounce.
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