GR Silver Mining Intersects Extensive High-Grade Epithermal Silver System. SMS25-09 Returns 75 m at 293 g/t AgEq, including 6.4 m at 1,915 g/t AgEq
Highlights of Step-Out Drilling at SE Deep Extension Target, San Marcial
- SMS25-09 intersected 75 m @ 293 g/t AgEq, including multiple intervals exceeding 1,000 g/t AgEq.
- The hole tested 3D geophysical anomalies and successfully confirmed continuity of the main high-grade mineralized structures at least 100 m beyond the Resource Area.
- Drilling returned a broad, 75 m wide, silver-dominant zone with frequent boiling textures, multiple phases of silver mineralization, and selective gold mineralization.
- High-grade gold values were encountered in several intervals, confirming the presence of both silver and gold mineralization at depth.
- SMS25-09 also intersected a wide chlorite–hematite hydrothermal breccia within a favorable structural setting formed by intersecting NW–NE regional structures. This configuration may host sizeable geological traps in porous volcanoclastic rocks, significantly enhancing the potential for resource expansion at San Marcial.
- The high-grade silver mineralization remains open down-dip.
Drilling at the SE Extension target (Figure 1) has confirmed the continuation of wide, high-grade silver mineralization, extending 100 metres horizontally beyond the current Resource Area. Compelling geological and geochemical studies point to the presence of a large, well-preserved silver-rich system linked to a recently identified regional porphyry intrusive setting, underscoring the potential for significant future resource growth. Hole SMS25-09 (75 m @ 293 g/t AgEq) continues to demonstrate the continuity of this significant silver-mineralized system, which was discovered in hole SMS22-10 (101.6 m @ 308 g/t Ag) located 250 metres to the northwest (Figure 2-Geological Map and 3-Longitudinal Section).
Successful drilling at the SE Extension is also confirming the continuity of wide, high-grade silver zones at depth, with results pointing to a potential extension of mineralization for at least 450 metres vertically from surface. Favorable alteration and mineralogical indicators support this growth potential, with hole SMS25-09 notably displaying epithermal boiling textures (Figure 4), indicating a well-preserved silver system that remains open at depth.
Table 1: SMS25-09 Drilling Highlights – SE Extension Resource Expansion Target
Drill Hole |
From |
To |
Type |
Interval |
AgEq* |
Ag |
Au |
Pb |
Zn |
SMS25-09 |
158.8 |
162.6 |
Hydrothermal |
3.8 |
96 |
44 |
0.12 |
0.2 |
0.8 |
SMS25-09 |
263.9 |
339.1 |
Hydrothermal |
75.2 |
293 |
260 |
0.1 |
0.2 |
0.5 |
(Incl) 296.8 |
303.2 |
Hydrothermal |
6.4 |
1915 |
1853 |
0.04 |
0.3 |
1.0 |
|
(Incl) 336.5 |
338.3 |
Hydrothermal |
1.8 |
1759 |
1363 |
1.10 |
2.42 |
5.4 |
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.
* AgEq calculations using
Successful drilling at the SE Deep Extension target has confirmed the continuity of mineralization 100 metres beyond the Resource Area, intersecting wide, predominantly chlorite–hematite-rich hydrothermal breccia with notable epithermal features, including:
- Boiling textures with calcite and high-grade silver (argentite and acanthite) hosted within hydrothermal breccia zones (Figure 4), indicating possible proximity to the high-grade core of an epithermal system that remains open both down dip and down plunge (Figure 3).
- Geochemical modelling suggests that the Resource Area represents the upper portion of a much larger epithermal system, hosted along the edge of a regional porphyry intrusive setting. Continuous calcite, barite, and fluorite concentrations indicate that this zone lies near the top of a well-preserved system, controlled by intersecting NW- and NE-trending regional faults.
The recently updated geological map (Figure 2) highlights three areas currently under investigation by the Step-Out Drilling Program. The success of drill hole SMS25-09 at the SE Deep Extension target strongly supports continued testing of extensions of the wide, high-grade silver mineralization. Follow-up drilling aims to test the system an additional 100 metres down plunge. Drill hole SMS25-11, currently in progress, along with the planned SMS25-12 (Figures 1, 2 and 3), are designed to test further extensions, supporting the potential for future resource expansion.
Table 2: 2025 San Marcial Step-Out Drill Program – Drill Hole Details
Drill Hole |
Target |
East (m) |
North (m) |
RL (m) |
Dip (˚) |
Azimuth |
Depth (m) |
Results |
SMS25-01 |
NW |
450685 |
2546064 |
914 |
-60 |
160 |
247.8 |
Abandoned |
SMS25-02 |
NW |
450568 |
2546102 |
942 |
-55 |
135 |
206.0 |
Abandoned |
SMS25-03 |
Parallel |
450955 |
2545667 |
862 |
-60 |
135 |
206.0 |
Received |
SMS25-04 |
Parallel |
451045 |
2545757 |
860 |
-55 |
185 |
159.0 |
Received |
SMS25-05 |
NW |
450791 |
2545967 |
892 |
-47 |
227 |
176.7 |
Received |
SMS25-06 |
NW |
450797 |
2546016 |
895 |
-74 |
225 |
191.8 |
Received |
SMS25-07A |
Parallel |
451145 |
2545641 |
795 |
-76 |
200 |
118.2 |
Received |
SMS25-08 |
Parallel |
451085 |
2545808 |
835 |
-65 |
175 |
244.5 |
Received |
SMS25-09 |
SE Deep |
451506 |
2545924 |
700 |
-60 |
130 |
424.20 |
Received |
SMS25-10 |
Parallel |
451506 |
2545924 |
700 |
-60 |
130 |
TBD |
Pending |
SMS25-11 |
SE |
451262 |
2545587 |
708 |
-81 |
143 |
TBD |
Drilling |
SMS25-12 |
SE |
451313 |
2546012 |
799 |
-68 |
270 |
TBD |
Drilling |
Note: all holes drilled from surface; WGS84 Datum; TBD - To be defined
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