The project, which has potential to become an open-pit mine, already boasts a resource, published in 2019, of 36 million ounces of silver equivalent in the higher confidence indicated category and 11 million ounces in inferred.
“The company is focused on increasing the resource inventory at San Marcial. Extension of the underground tunnel for drill access is advanced, which will allow the company to drill test the down-dip extensions to the NI 43-101 resource later this year,” GR Silver chief executive Marcio Fonseca said Wednesday in a statement.
“High-grade silver results from previous drilling demonstrate that the resource is open at depth, with potential for expansion. The company’s newly purchased drill rig has now commenced a drilling program on our other eight gold-silver targets at San Marcial,” he added
“The first target being tested is Chachalaca, where initial channel sampling encountered high-grade gold veins up to 0.2 metres (m) at 28.94 grams per ton (g/t) gold and 143 g/t silver,” Fonseca added.
The firm has recently bought three new drill rigs and widened a 170 metre (m) underground tunnel. A 100m extension to the tunnel is underway. Once complete, a 2,000m underground resource expansion drill program will kick-off.
In the light of the pandemic, GR Silver said it had implemented measures to adhere to government-imposed restrictions.
“The recent purchase of our own surface drill rig allows us flexibility to advance the drill program at San Marcial with our own professionally trained local crew, in isolation in the field camp,” it added.
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Published at Wed, 06 May 2020 12:45:00 +0000-GR Silver Mining’s recent exploration at San Marcial underscores potential to increase gold and silver resource