Latest news with #GRSilverMining
Cision Canada
25-07-2025
- Business
- Cision Canada
GR Silver Mining Extends Silver Mineralization with Step-Out Drilling at San Marcial 11.9 m @ 226 g/t Ag Eq* including 0.9m @ 716 g/t Ag Eq
VANCOUVER, BC, July 25, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce drilling results from the ongoing Step-Out Drilling Program ( Step-Out Drilling) in two areas in the vicinity of the 2023 NI 43-101 resource (Resource Area) at the San Marcial Area, Plomosas Project, Sinaloa, Mexico. Both areas (NW Extension and Parallel Breccia) are shown in Figure 1. The Step-Out Drilling is designed to explore and validate the extension of silver mineralization along northeast (NE) and northwest (NW)-oriented structures near the Resource Area. It incorporates the full integration of drilling results and 3D-modelling of exploration data to support the drilling of new targets associated with the recently discovered, district-scale intrusive system that hosts hydrothermal, bulk-mineable silver mineralization at the San Marcial Area. Highlights of the Step Out Drilling at San Marcial (see also Table 1): Drilling has identified a wide hydrothermal breccia and stockwork system, with multiple Ag-mineralized intervals at shallow depths in the vicinity of the Resource Area (Figure 1). SMS25-05: 26 m at 122 g/t Ag Eq (from 0 m down hole), including 11.9 m @ 214 g/t Ag Eq (including 0.9 m @ 716 g/t Ag Eq) SMS25-04: 36 m at 144 g/t Ag Eq (from 0 m down hole), including 0.3 m @ 2008 g/t Ag Eq SMS25-03: 0.2 m at 2359 g/t Ag Eq (from 175.1 m down hole), including GR Silver Mining's President and CEO, Marcio Fonseca, commented, " The success of the step-out drilling program at the San Marcial Area is the result of the integration of all available exploration data, which has been used to delineate new, wide, shallow zones of silver mineralization near the existing resource area. The initial five drill holes confirm the presence of mineralization along major NE- and NW-trending structural corridors associated with the recently discovered intrusive system. A better geological understanding of the structural controls of NE and NW structures, in conjunction with the recently mapped intrusions in the San Marcial area, is providing critical data to support the continuity of the step-out drilling in the coming months. This marks a significant milestone in advancing exploration at San Marcial and reinforces our ongoing strategy for resource growth." Geological Description Step-Out Initial Drilling Results The Step-Out Drilling marks a significant milestone, leveraging knowledge acquired over the past 12 months to advance resource growth in the San Marcial Area. Comprehensive interpretation and 3D modelling of ground geophysical data have outlined a large, regional intrusive-related anomaly (Figure 1), defining a broad, untested footprint that will be a key focus for resource expansion drilling in the coming months as part of GR Silver's ongoing exploration program. Table 1 Drilling Highlights – Initial Step-Out Holes - NW Extension and Parallel Breccia Areas (New Targets) Drill Hole New Targets From (m) To (m) Type Interval (m) AgEq* g/t Ag g/t Au g/t Pb % Zn % SMS25-06 NW Extension 9.0 26.0 Hydrothermal Breccia 18.0 39 32 0.02 0.1 0.1 84.6 106.2 Hydrothermal Breccia 23.3 55 44 0.01 0.2 0.3 SMS25-05 NW Extension 0 26.0 Hydrothermal Breccia 26.0 122 114 0.01 0.1 0.2 (Incl) 0 4.5 Hydrothermal Breccia 4.5 308 299 0.01 0.2 0.4 (Incl) 0 11.9 Hydrothermal Breccia 11.9 226 214 001 0.2 0.3 SMS25-04 Parallel Breccia 0.0 36.0 Hydrothermal Breccia 36.0 144 121 0.28 0.1 0.1 (Incl) 14.9 15.4 0.5 746 722 0.23 0.2 0.1 (Incl) 20.6 21.0 0.4 725 641 1.14 0.1 0.1 (Incl) 34.5 34.8 0.3 2008 1982 0.08 0.5 0.2 SMS25-03 Parallel Breccia 126.3 126.7 Epithermal Veins 0.4 726 22 10.30 0.1 0.1 175.1 175.3 Epithermal Veins 0.2 2359 23 34.30 0.1 0.1 Note: Numbers may be rounded. Results are uncut and undiluted. True width not estimated as the Company does not have sufficient data from the new mineralized zones to determine the true widths of the intervals with any confidence. * Ag Eq calculations using US$22.00/oz Ag, US$1,750/oz Au, US$0.90/lb Pb, US$1.10/lb Zn and US$3.00/lb Cu, with metallurgical recoveries of Ag – 94%, Au – 80%, Pb – 59%, and Zn – 80%. Ag Eq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb price x Pb recovery) + (Zn grade x Zn price x Zn recovery) + (Cu grade x Cu price x Cu recovery)/(Ag price x Ag recovery) Drill holes SMS25-01 and SMS25-02 were designed to test the down-dip continuity of mineralization at approximately 85 and 125 metres below the surface, respectively. However, both holes intersected a late-stage dyke that displaced the mineralized zone at the targeted depth. As a result, drilling was halted, and the rigs were moved to the SMS-25-05 and SMS-25-06 locations, approximately 100 metres along strike, to better delineate the geometry and extent of the silver-mineralized hydrothermal breccia beyond the current Resource Area boundary. Drill holes SMS25-03 and SMS25-04 were completed at the Parallel Breccias Area located up to 125 metres west of the Resource Area boundary (Figure 1). Drill hole SMS25-03, oriented at 135°, was designed to intersect perpendicular to a major NE-trending fault (Figure 1). The hole provided important geological information, confirming the presence of high-grade, narrow silver and gold mineralization hosted within a volcano-sedimentary unit that had not been previously intersected by most of the drilling within the Resource Area. Drill hole SMS25-04 was drilled immediately adjacent to the boundary of the Resource Area, targeting the continuity of parallel hydrothermal breccias that are not currently included in the Resource Area. This drill hole was oriented obliquely to the primary structural trend of the Resource Area. Drilling confirmed the presence of a wide, silver-mineralized hydrothermal breccia, 36m @ 144 g/t Ag Eq, with continuity at a shallow, vertical depth of approximately 50 metres. This intercept represents potential for the addition of new mineralized material, warranting further investigation in follow-up drilling planned for 2025 H2. Drilling in the NW Extension Area was designed to test the continuity of silver-mineralized hydrothermal breccia mapped approximately 100 metres northwest of the Resource Area, along Northwest-Trending structural corridor. Surface sampling results, including samples up to 1,800 g/t Ag in trench SMtr-01, have delineated an outcropping zone of well-mineralized hydrothermal breccia, extending the known mineralized footprint by approximately 250 metres along the strike. In drill hole SMS25-05, the silver mineralized hydrothermal breccia extends from surface to 71.65 m. However, significant mineralization is confined to the upper portion of the breccia, from 0.00 to 32.50 m, where it exhibits consistent grades, continuity, and characteristic textures aligned with the NW structural trend Drill hole SMS25-06 intersected the continuation of the wide silver-mineralized hydrothermal breccia at a shallow depth of 12 m below surface, where low-grade silver mineralization was initially mapped, delineating a 70 m-wide mineralized zone. The wide nature of the mineralization supports future drilling down dip to follow up on the model of the presence of much higher silver-grade mineralization at specific elevations, as evidenced in other drill holes in the San Marcial area. It contains frequent intercalations of sulphide-rich material, including galena, sphalerite, pyrite, and silver sulphides (AgS). Clear zonation is observed at the top and bottom contacts of the hydrothermal breccia, while the central portion exhibits silver mineralization at lower concentration levels. The most intensely brecciated and silver mineralized zones occur between 12.00–24.95 m and 93.40–107.35 m, with minor intervals of mineralized breccia present in the middle section. The high-grade mineralized interval exhibits intense chloritization, a key geochemical indicator commonly associated with strongly silver-mineralized hydrothermal breccias in the San Marcial area. Silver remains the predominant mineralization in most of the results with minor levels of lead, zinc and gold. Step-out drilling is progressing with the initiation of deeper down-plunge drilling at the SE Deep Extension target. This represents the first set of holes designed to test the continuity of the mineralized zone approximately 150 m down-plunge from the deepest previous intersection within the Resource Area. Additional shallow drilling of the Parallel Breccia and NW Extension targets is also scheduled for completion in the coming weeks. Table 2: 2025 San Marcial Step -Out Drill Program – Drill Hole Details Note: all holes drilled from surface; WGS84 Datum TBD: To be defined About the Plomosas Project The Plomosas Project, including the recent high-grade silver discovery in the San Marcial SE Area, is progressing in 2025 as an emerging high-grade silver district located in southern Sinaloa, Mexico. The Plomosas Project, covering 43,187 ha, benefits from mine infrastructure, road access and existing permits associated with past-producing mining sites. The district contains intermediate to low-sulfidation epithermal silver and gold mineralization, hosted in hydrothermal breccias and veins. Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial Area, including the SE Area discovery, where step-out drilling is progressing in 2025, aiming for continuous resource growth. At the historical Plomosas Mine, where Grupo Mexico operated the underground mine from 1985 to 2000, exploration and metallurgical programs are being conducted to support future decisions regarding the implementation of a Bulk Sampling Test Mining Program QA/QC Procedures The Company has implemented QA/QC procedures, which include the insertion of blank, duplicate, and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, BC. Core samples are represented by both HQ and NQ diameters and samples are represented by ½ core split of original analytical methods include four acid Digestion and Inductively Coupled Plasma Optical Emission Spectrometry, with Lead Fusion Fire Assay and a gravimetric finish for silver above over limits. For gold assays, the analytical methods are Lead Fusion and Atomic Absorption Spectrometry, Lead Fusion Fire Assay, and gravimetric finish for gold above over limits (>10 ppm). Qualified Person The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & CEO for GR Silver Mining, who has reviewed and approved its contents. 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 km² of highly prospective, advanced-stage exploration concessions position the Company well for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Márcio Fonseca, President & 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.
Cision Canada
08-07-2025
- Business
- Cision Canada
GR Silver Mining Reports Initial High-Grade Results from Plomosas Mine Sampling Program
VANCOUVER, BC, July 8, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to report initial results of Phase I of the new underground sampling program (the "Program") at the Plomosas Mine, Sinaloa, Mexico. The Program was designed around the following objectives: To model the recently mapped high-grade silver zones in the interior of the historic Plomosas Mine, post completion of the March 2023 NI 43-101 mineral resource estimate ("MRE"); To collect metallurgical test work samples essential to define key parameters for implementation of a Bulk Sampling Test Mining Program (" BSTM") at the Plomosas Mine (Table 1); and To enhance the existing database of underground samples for improved reconciliation between the MRE and areas identified for a BSTM. Sampling Highlights Initial highlights of the Phase I Plomosas Mine underground sampling program include: Chip Mine Face Sample – Level 883 - 2,423 g/t Ag Eq*, consisting of 675 g/t Ag, 46.9% Pb, 4.5% Zn and 0.54 g/t Au (Polymetallic Hydrothermal Breccia – Massive Sulphide) Channel Sample – Level 833 – 0.8 m @ 2,019 g/t Ag Eq, consisting of 137 g/t Ag, 5.74 g/t Au, 16.7% Pb, and 18.2% Zn (Polymetallic Hydrothermal Breccia – Massive Sulphide) Channel Sample – Level 950 – 0.6 m @ 3,993 g/t Ag Eq, 310 g/t Ag, 15.20 g/t Au, 26.2% Pb and 10.2% Zn (Polymetallic Hydrothermal Breccia – Massive Sulphide) GR Silver Mining's President and CEO, Marcio Fonseca, commented "The success of our new geological model at the Plomosas Mine, completed during the last 6 months, combined with detailed underground sampling, will be fundamental for the future development of engineering parameters to assess implementation of a Bulk Sampling Test Mining program in the underground mine. The current site has initial infrastructure and key permits in place, which can assist in any future mine and processing plant developments at the historic Plomosas Mine." The Program will consist of two phases over the next four months, whereby Phase I assesses metallurgical data collected to support engineering studies as part of the BSTM, and Phase II will complete a much larger dataset to help refine basic mining engineering and planning. Both phases of the Program will support a decision to potentially implement a BSTM at the Plomosas Mine before year-end. The Program leverages existing permits to operate at the Plomosas Mine, providing full access to the 7.4 km of underground development. Access to multiple areas for sampling, as shown in Figure 1, has enabled a better identification of unmined regions with high-grade, continuous silver, gold, and base metal mineralization at various levels of the underground mine. Assay results from 21 samples collected at the chosen sites (Table 1) have returned high-grade results, with values of up to 3,993 g/t Ag Eq. Multiple high-grade results indicate potential areas to advance Phase II, targeting the collection of additional metallurgical data and progress towards the implementation of a BSTM in the Plomosas Mine. Table 1 - Phase I Underground Sampling Assay Results, Plomosas Mine Sample Sample ID Underground Level Sample Ag Eq* Ag Au Pb Zn Cu Rocktype Type Length(m) g/t g/t g/t % % % 80458 815 877 127 2.07 1.0 2.7 2.9 Stockwork - Veins 80489 825 211 63 0.04 1.6 1.9 0.1 Polymetallic Veins 80494 862 910 90 0.99 11.5 8.5 0.1 Polymetallic Hydrothermal Breccia 80468 883 2,423 675 0.54 46.9 4.5 0.1 Polymetallic Hydrothermal Breccia Chip 80478 975 370 308 0.06 0.4 0.7 0.1 Polymetallic Hydrothermal Breccia Mine Face 80460 975 365 297 0.09 0.4 0.7 0.1 Polymetallic Veins Sample 80491 975 805 50 0.69 12.4 5.9 0.4 Polymetallic Veins 80474 1000 822 71 1.13 13.4 4.1 0.3 Stockwork - Veins 80466 1000 587 36 0.48 2.1 6.9 1.1 Polymetallic Hydrothermal Breccia 80479 1000 170 51 0.02 1.8 1.1 0.1 Polymetallic Hydrothermal Breccia - Massive Sulphide 80472 1000 1,000 174 1.52 10.5 7.7 0.3 Stockwork - Veins 80498 833 0.8 2,019 137 5.74 16.7 18.2 0.5 Polymetallic Hydrothermal Breccia - Massive Sulphide Channel 80499 833 1 909 71 2.32 6.7 8.8 0.3 Polymetallic Hydrothermal Breccia - Massive Sulphide Mine Face 80500 833 0.75 386 34 0.09 8.1 1.9 0.0 Polymetallic Hydrothermal Breccia Sample 80503 862 1.2 1,870 96 0.54 29.8 16.8 0.6 Polymetallic Veins 80504 950 0.8 1,192 28 0.18 29.5 5.0 0.0 Polymetallic Veins 80505 950 0.6 15 8 0.01 0.0 0.1 0.0 Polymetallic Hydrothermal Breccia 80507 950 0.9 64 11 0.16 0.1 0.6 0.1 Polymetallic Veins 80508 950 0.6 3,993 310 15.20 26.2 10.2 7.2 Polymetallic Hydrothermal Breccia - Massive Sulphide 80509 1000 1 421 68 0.55 2.5 5.1 0.1 Polymetallic Hydrothermal Breccia 80512 1000 1 899 864 0.07 0.1 0.2 0.1 Stockwork - Veins Note: Numbers may be rounded. Results are uncut and undiluted. True width not estimated as the Company does not have sufficient data from the new mineralized zones to determine the true widths of the intervals with any confidence. * Ag Eq calculations using US$20.00/oz Ag, US$1,600/oz Au, US$0.90/lb Pb, US$1.10/lb Zn and US$3.00/lb Cu, with metallurgical recoveries of Ag – 74%, Au – 86%, Pb – 69%, Zn – 75% and Cu – 80%. Ag Eq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb price x Pb recovery) + (Zn grade x Zn price x Zn recovery) + (Cu grade x Cu price x Cu recovery)/(Ag price x Ag recovery) The areas selected for Phases I and II of the Program consist of material where mineralization is continuous, with evidence of silver, gold and base metal mineralization at concentrations attractive for a potential BSTM in early 2026. The BSTM will also require the construction of a demonstration processing plant on site, with details to be defined after the completion of Phase II and associated engineering studies. The Company plans to continue investigating opportunities at the Plomosas Mine, based on recent success, targeting the higher-grade silver zones in the MRE, which may support the implementation of a BSTM. Note: Purple shapes are potential stopes blocks for BSTM. Pale grey represents existing underground developments of varying sizes, ramps and historical stopes. About the Plomosas Project The Plomosas Project, including the recent high-grade silver discovery in the San Marcial SE Area, is progressing in 2025 as an emerging high-grade silver district located in southern Sinaloa, Mexico. The Plomosas Project, covering 43,187 ha, benefits from mine infrastructure, road access and existing permits associated with past-producing historical mining sites. The district contains intermediate to low-sulfidation epithermal silver and gold mineralization, hosted in hydrothermal breccias and veins. Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial Area, including the SE Area discovery, where step-out drilling is progressing in 2025, aiming for continuous resource growth. At the historical Plomosas Mine, where a subsidiary of Grupo Mexico operated the underground mine from 1985 to 2000, exploratory and metallurgical programs are being conducted to support future decisions regarding the implementation of a BSTM. QA/QC Procedures The Company has implemented QA/QC procedures, which include the insertion of blank, duplicate, and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, BC. The analytical methods include four acid Digestion and Inductively Coupled Plasma Optical Emission Spectrometry, with Lead Fusion Fire Assay and a gravimetric finish for silver above over limits. For gold assays, the analytical methods are Lead Fusion and Atomic Absorption Spectrometry, Lead Fusion Fire Assay, and gravimetric finish for gold above over limits (>10 ppm). Qualified Person The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & CEO for GR Silver Mining, who has reviewed and approved its contents. 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 km² of highly prospective, advanced-stage exploration concessions position the Company well for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Márcio Fonseca, President & 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.
Cision Canada
30-06-2025
- Business
- Cision Canada
GR Silver Mining Strengthens Management Structure and Provides Corporate Update
VANCOUVER, BC, June 30, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is very pleased to announce the strengthening of its management structure by recognizing the contribution of the Company's team in recent successes, including discovering new silver mineralization, resource growth, improved financial condition, and positioning the Company for renewed growth. Effective immediately, making use of experienced in-house mining executives, GR Silver Mining is implementing a management restructure supporting plans to advance the Plomosas Silver Project in Sinaloa, Mexico. Advancement of the Plomosas Project is based on the upside resource potential at the San Marcial Area and the recognition of synergies and opportunities available at the permitted historical Plomosas Mine Site. In Vancouver, Founder, President and Chief Operating Officer (COO) Márcio Fonseca will assume the role of President and Chief Executive Officer. Eric Zaunscherb will assume the role of Executive Chair of the Board of Directors. Mr. Fonseca has been highly successful in his mandate as COO, delivering a resource update for the Plomosas Project on time and exceeding published expectations in March 2023 (see news release dated March 20, 2023). Over the last few years, the geological team headed by Mr. Fonseca has fine-tuned the geological model at San Marcial leading to the SE Area discovery with a highlight intersection in Hole SMS22-10 of 101.6 m averaging 308 g/t Ag. More recently, three new proximal target areas have been identified for follow up drilling featuring similar geological, geochemical and geophysical signatures to San Marcial. Mr. Fonseca has also been fundamental in the Company's initiatives to improve its financial condition through corporate improvements in 2024. Mr. Zaunscherb assumed the role of CEO in February 2022 to allow Mr. Fonseca to focus on delivering continued resource expansion on the wholly owned, highly prospective Plomosas Project and to support operations and business enhancement in Mexico. In late 2023, GR Silver Mining management commenced initiatives to improve its financial condition and to position the Company for renewed growth. Positive corporate improvements through 2024 placed GR Silver Mining on track for a return to active exploration in 2025. Our corporate successes included the sale of a non-core asset, elimination of the Company's working capital deficit, compensation from a third party for a historical environmental impasse, a significant uplift in the Company's share price, and strengthened leadership through the recruitment of new directors. Effective June 25, Alejandro Cano Cabello has been promoted from General Manager to Vice President of Operations, Mexico. With over two decades of experience in the Mexican mining sector, Mr. Cano is a mining and metallurgical engineer who has held senior roles at Fortuna Mining's San Jose Mine, First Majestic's Del Toro Silver Mine, and Americas Gold and Silver's Cosala Operations, among many other successful silver operations in Mexico. He brings a wealth of experience to support GR Silver Mining's growth in Mexico. He is highly regarded in the Mexican mining industry, being a member of the Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México. His role on the National Executive Board of the Colegio de Ingenieros de Minas, Metalurgistas y Geólogos de México, A.C. ( reflects his extensive development and operational experience as well as essential regulatory contacts throughout the country. Luis Coto has been promoted from Exploration Manager to Vice President, Exploration. He played a key role in discovering the wide, high-grade silver-mineralized breccia at San Marcial, contributing significantly to the Company's resource growth. Mr. Coto has gained extensive exposure to various geological settings and mineralized silver-gold epithermal systems, gold-copper porphyries, and skarn deposits. His expertise spans district-scale exploration studies, as well as design, management, and execution of multi-million-dollar drilling programs supporting resource expansion. In Mexico, he participated in the discovery of Fortuna Mining's San Jose Mine, and in Peru, he led the team that defined the world-class Mina Justa copper-gold deposit for Minsur. Gerardo Cicilia Calnacasco has been promoted to Controller, Mexico. He is an accountant with a Master's Degree in Finance and has over two decades of financial experience in the industrial sector in Mexico. After 14 years working in the manufacturing-oil sector, he transitioned to the mining industry where he has spent the last 14 years working in a range of accounting and financial roles at multiple mine operations in Mexico. His senior accounting and financial roles at Endeavour Silver's Guanacevi Mine, First Majestic's San Dimas Mine, and Nyrstar Mining's Campo Morado Mine have created a strong knowledge of cost accounting and budgeting. His leadership over the past two years at GR Silver Mining has been greatly appreciated. Eric Zaunscherb commented, "I am excited to see GR Silver Mining repositioned and ready to advance its 2025 strategic initiatives to deliver value on behalf of its shareholders. I am confident that Márcio will continue to uncover the extraordinary potential of the Plomosas Silver Project, and I look forward to supporting him in this goal in my new role, assisting in communicating the Company's exciting investment proposition and attracting the resources he and his team need to execute the business plan." Márcio Fonseca added, "The success GR Silver Mining has achieved to date in consolidating a district-scale silver asset, discovering wide high-grade silver mineralization, and positioning the Company for continued resource growth and potential development in Mexico is the result of a strong team effort and shared commitment to our vision. I would like to thank all employees who have contributed to this journey so far. I am excited about the strengthening of our team, the ongoing drilling program at San Marcial, and the potential new developments at the Plomosas Mine. All these activities are advancing the Company toward responsible and sustainable growth." GR Silver Mining is continuing its drill program in the San Marcial Area, recently expanded to up to 3,000 meters, with three drill rigs currently active on site. The program is focused on three target areas located near the existing NI 43-101 resource estimate as noted in the March 2023 news release. This step-out drilling campaign includes a combination of shallow and deep drill holes, designed to define new near-surface mineralized zones and test down-plunge extensions of previously successful underground drilling, such as the intersections of 18 m averaging 773 g/t Ag including 5.6 m averaging 1,792 g/t Ag (Hole SMI21-03) and 38 m averaging 299 g/t Ag including 3.5 m averaging 1,002 g/t Ag (Hole SMI21-04). Management continues third-party discussions to advance the commencement of a Bulk Sampling Test Mining program at the permitted, past-producing Plomosas Mine. This initiative will consider both existing and potential new infrastructure, while also evaluating strategic opportunities to achieve critical mass in the Mexican silver mining industry. A similar concept was successfully implemented by the Company at the historic San Juan Mine. The program yielded valuable incremental knowledge related to high-grade modeling and targeting, grade reconciliation, and mineral deposit modeling to define new drill targets. From January to September 2024, 20,620 t of material were mined and 20,430 t milled by private local operators. A total of 420 t (dry) of lead concentrate were sold, averaging 10.43% Pb, 8,357 g/t Ag, and 8.19 g/t Au. Pursuant to the Company's Omnibus Equity Incentive Plan, the Company has granted incentive stock options to purchase up to 750,000 common shares (the " Options") to officers of the Company on joining senior management. The Options will vest on the date of grant. The Options are exercisable at $0.175 per share for a period of five years from the date of grant and are subject to the policies of the TSX Venture Exchange. 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. Márcio Fonseca, President & 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.
Cision Canada
28-05-2025
- Business
- Cision Canada
GR Silver Mining Completes $1,844,700 Private Placement Financing
VANCOUVER, BC, May 28, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) –announces that it has closed its non-brokered private placement previously announced on May 8, 2025, and increased on May 14, 2025. Under the Offering, the Company has issued 14,190,000 units for gross proceeds of $1,844,700. In connection with the Offering, the Company paid a total of $104,442 and issued a total of 803,400 warrants as finder's fees. Each finder's warrant is exercisable for one common share at a price of $0.19 for two years. All securities issued under the Offering are subject to a hold period expiring September 28, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (" TSXV"). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. 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.
Cision Canada
14-05-2025
- Business
- Cision Canada
GR Silver Mining Increases Private Placement Financing to up to $1.85 Million
VANCOUVER, BC, May 14, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that further to its news release of May 8, 2025, due to increased demand, it is increasing its non-brokered private placement such that it now proposes to sell up to 14,230,770 units at a price of $0.13 per unit for gross proceeds of up to $1.85 million. All other terms of the offering remain as set out in the Company's May 8, 2025 news release. The offering remains subject to compliance with applicable securities laws and policies of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. 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.
