Its flagship project, San Marcial, consists of a 1,250-ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by GR Silver in early 2019. Additionally, bonanza-grade gold was drilled in July 2019 at San Marcial, opening the potential for further gold success.
GR Silver's 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.
GR Silver's current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz AgEq (indicated) + 11Moz AgEq (Inferred), by defining new highgrade gold and silver targets along the project's 6 km mineralized trend. GR Silver is the first company to perform exploration work and to drill at San Marcial in over 10 years.
It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. A 6 km trend has so far been identified, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and in 2019 drilled preliminary holes into three high-priority targets at Faisanes, Nava and Guacamayo.
Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by GR Silver have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.
- Source, Yahoo Finance
