Day: September 7, 2022

Executive Vice President of Exploration Scott Smith added, “In northwest Guadalupe, the vein system hosts multiple mineralized splays of the main Estaca vein. This ‘flower structure’ was intersected multiple times outside of the current pit-constrained resource, including in holes 22GE-70, 73, 77, 78R, and 80, significantly increasing the mineralization expansion potential.”

GR Silver Mining Chairman and CEO, Eric Zaunscherb commented, “We are grateful for the support of our new and existing shareholders as well as our capital markets partners in achieving full funding for the current phase of exploration. This phase, focusing on expansion and discovery at San Marcial as well as the low-hanging fruit of surgical infill at Plomosas Mine, will allow us to deliver the integrated Plomosas Project Mineral Resource Estimate update in Q1/23.”

Rafael Gallardo, Infinitum’s Senior Exploration Manager states, “Sampling, drilling and mapping results reveal both vertical and lateral zoning in this large system. The overall zoning observed at La Adelita appears to be matched by geophysical anomalies and fits very well with the proprietary CRD model that guides our exploration. Now we have the geophysics to tie it all together and it has revealed some very compelling targets.”

“Throughout the Los Ricos district, we continue to see drill intercepts that have both the potential for bulk open pit mining and/or bulk underground mining. Both of these mining methods will be fully evaluated for best economics while keeping in mind our high ESG standards.”

“Discovery Hole LG-22-030 in the La Republicana target area represents not only the identification of 59.0m of near-surface gold mineralization but also a validation of an exploration process that we can use moving forward. Our geologic team through an extensive mapping and sampling campaign in conjunction with geophysics identified the types of northwest regional trending structures associated with major mineralization in the Mojave-Sonora Megashear.”