Canada's GR Silver Advances 20,000-Meter Silver Drilling Program in Mexico

en.Wedoany.com Reported - On October 25, Canadian mining company GR Silver Mining is advancing a 20,000-meter drilling program at its San Marcial silver project in Sinaloa, Mexico. The company has obtained a five-year drilling permit and, as of September 8, had completed 21 drill holes totaling approximately 6,292 meters, with assay results from 7 holes still pending. The company plans to complete a resource update and preliminary economic assessment in the first half of 2027.

Previously, drill hole SMS26-04 at the San Marcial project returned a mineralized interval of 45.1 meters true thickness averaging 1,623 g/t silver, including a high-grade section of 8.25 meters at 8,579 g/t silver. These results were first announced on May 19. The company subsequently adjusted its drilling deployment, planning to reduce drill hole spacing around this mineralized zone from approximately 100 meters to 45 meters to further verify the continuity of the mineralized zone and provide data for the resource update.

A new batch of drilling results announced on September 8 showed that drill hole SMS26-12 intersected a mineralized interval of 16.1 meters true thickness at 162 g/t silver, and drill hole SMS26-14 intersected a mineralized interval of 11.7 meters true thickness at 147 g/t silver. Drilling confirmed that the silver mineralization extends at least 300 meters to the southeast and approximately 75 meters below the 2023 resource estimate boundary. The company is adjusting the locations of subsequent drill holes in accordance with the geological model.

GR Silver previously disclosed available cash of approximately C$26 million and plans to continue funding drilling at San Marcial. Its existing Plomosas mine is also studying underground bulk sample trial mining and mineral processing options. Mexico's environmental regulator has confirmed that work at the mine does not require a new environmental impact permit application, but the specific trial mining and processing plans remain under study.