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GR Silver significantly increases resources at the Plomosas project in Mexico

Kitco Media
By Vladimir Basov
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Updated
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(Kitco News) - GR Silver Mining (TSXV: GRSL) today announced an updated mineral resource estimate for the company's wholly-owned Plomosas project in Sinaloa, Mexico.

Compared to the previous mineral resource estimate, the company reported a 108% increase in indicated mineral resources from 46 Moz to 97 Moz silver equivalent ("AgEq"), and a 61% increase in inferred mineral resources from 33 Moz to 53 Moz AgEq.

The company also announced a 44% increase in average indicated mineral resource grade from 143 to 206 g/t AgEq, and a 65% increase in average inferred mineral resource grade from 112 to 185 g/t AgEq.

GR Silver said it has successfully expanded resources at a low cost of exploration and acquisition (US$0.25 /oz) at the Plomosas project, adding that since previous resource estimates in 2019 and 2021, the company has achieved an estimated exploration cost of US$0.17 /oz AgEq discovered.

According to a press release, indicated AgEq ounces have increased 331% since the company's inception while inferred AgEq ounces have increased 632% since the company's inception.

Chairman and CEO Eric Zaunscherb said, "We are very pleased to achieve this milestone as promised over the past year. The conservative parameters applied, and the approach taken, allow us to be confident in this positive outcome as we focus on broad zones of mineralization that may be amenable to bulk, low-cost open pit and/or underground mining methods.

"Delivery of this resource estimate continues the advance and de-risk process for the Plomosas project. Management will now turn to planning next steps, which will build on already robust resource growth, tapping into the property's significant exploration potential. In addition, we intend to begin attaching economic parameters to the Plomosas project that, in our opinion, will demonstrate its appeal."

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas project, which includes the integrated San Marcial Area and La Trinidad acquisition.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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