GR Silver Mining Announces Resumption of Plomosas Silver Project Field Work
President and Chief Operating Officer, Márcio Fonseca, noted, "The security situation in the project region appears to have stabilized based on our observations on site and in extensive discussions with members of our community and various levels of Government. We are grateful to these stakeholders for their efforts to improve conditions. Our highly experienced in-country team has expressed confidence in the current situation and their ability to safely return to active field exploration. We are very excited to resume sampling and drilling the prospective targets we have outlined. The exploration team has returned to activities on site prioritizing surface investigations, prior to conducting step out drilling of high-grade silver results returned from some previous trench sampling in the NW and SE Extensions of the current NI 43-101 resource."
Previous surface exploratory trench results include:
NW Extension - 56 m at 196 g/t Ag, including 15 m at 472 g/t Ag, (news release, February 21, 2019).
New Hydrothermal Breccias (Subparallel Breccias), 12 m at 323 g/t Ag within a broader zone of 24 m at 219 g/t Ag, including high-grade Ag up to 1 m at 974 g/t Ag, (news release, May 22, 2019).
Management believes that these previous results provide further encouragement for potential expansion of the resource with planned step out drilling.
On March 3 (news release), the Company announced the commencement of a step-out drilling program aiming to expand the San Marcial mineralization footprint by as much as 350 meters northwest from the current NI 43-101 resource area, as well as test potential new parallel zones located immediately to the southeast of the current NI 43-101 resource area. The Company has completed surface evaluation along 500 meters of strike length, focused on a prospective geological contact with evidence of silver mineralization and seeking blind targets highlighted in Figure 1. Initial field results indicate new prospective drilling targets along this potential mineralization footprint extension.
Noting that the safety of our employees, consultants, suppliers, and community members remains paramount, management considers it prudent to resume this program while vigilantly monitoring the situation.
Management continues its assessment of and potential implementation of a Bulk Sampling Test Mining program at the permitted former Plomosas Mine, similar to the previously announced successful program completed at the historical San Juan Mine, benefiting from existing permits and infrastructure on site, and explore opportunities to achieve critical mass in the Mexican silver mining industry.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km 2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE GR Silver Mining Ltd.
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These measures which are derived from information reported in the consolidated statements of operations and comprehensive income may not be comparable to similar measures presented by other reporting issuers. These measures have been described and presented in this MD&A in order to provide shareholders and potential investors with additional information regarding the Company. Investors are cautioned that EBITDA, adjusted EBITDA, adjusted EBITDA per share, adjusted EBIT and adjusted free cash flow are not acceptable alternatives to net income or net income per share, a measurement of liquidity, or comparable measures as determined in accordance with IFRS. EBITDA and Adjusted EBITDA EBITDA refers to net income before finance costs, income taxes, depreciation and amortization. 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Participants wishing to login to the webinar will be required to register before the start of the call. Audio only dial in available without registering. About Zedcor Inc. Zedcor Inc. is disrupting the traditional physical security industry through its proprietary MobileyeZ TM security towers by providing turnkey and customized mobile surveillance and live monitoring solutions to blue-chip customers across North America. The Company continues to expand its established platform of MobileyeZ™ towers in Canada and the United States, with emphasis on industry leading service levels, data-supported efficiency outcomes, and continued innovation. Zedcor services the Canadian market through equipment and service centers currently located in British Columbia, Alberta, Manitoba, and Ontario. The Company continues to advance its U.S. expansion which now has the capacity to service markets throughout the Midwest and West Coast with locations throughout Texas and in Denver, Colorado, Phoenix, Arizona and Las Vegas, Nevada. FORWARD-LOOKING STATEMENTS Certain statements included or incorporated by reference in this news release constitute forward-looking statements or forward-looking information, including expectations for customer and revenue growth in 2025, the ability of the Company to build out its footprint in the U.S. and add additional customers as a result thereof, the Company's intention to take control of its supply chain, thereby allowing it to manage demand and reduce capital costs, and the Company's intention to increase its capital markets presence and grow investor interest in the Company. Forward-looking statements or information may contain statements with the words "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", "would", "may" or similar words suggesting future outcomes or expectations, including negative or grammatical variations thereof . Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. These assumptions include anticipated manufacturing capacity and expected fleet numbers, expected utilization rates, customer growth, the impact of tariffs on the Company's business and customer buying trends, and changes in the regulatory environment and political landscape in each of Canada and the United States. Although management believes these assumptions are reasonable, there can be no assurance that they will prove to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this news release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement. This news release also makes reference to certain non-IFRS measures, which management believes assists in assessing the Company's financial performance. Readers are directed to the section above entitled "Financial Measures Reconciliations" for an explanation of the non-IFRS measures used. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
