Gr Silver Mining Ltd (OTCMKTS:GRSLF) stock saw selling pressure in Wednesday’s trading session despite the company announced new contract.
Market Reaction:
In yesterday’s trading session, GRSLF stock decreased 5.36% to $0.2650 with more than 215K shares, compared to its average volume of 122k shares. Over the past 52-week, the stock has moved within a range of $0.2617 – 0.6880.
Major Trigger:
GR Silver Mining Announces High-Grade Au-Ag Discovery at the GAP Area
Key Highlights:
Gr Silver Mining announced that it has received high-grade results from the exploration sampling program of newly discovered Au-Ag rich epithermal veins in the GAP Area, located between the San Juan and San Marcial Areas in Sinaloa, Mexico.
Since the acquisition of 100% of the concession containing the GAP Area in March 2021, GR Silver Mining’s team has advanced an exploration program that links the San Marcial, San Juan and Plomosas Areas. The Company now controls seven kilometres of structural trend between San Marcial and San Juan, which hosts the new GAP Area discovery (Figure 1).
Over the past months, the Company has completed geological mapping, reconnaissance of old workings, a ground geophysical survey and collected channel samples over an extensive epithermal vein system within the GAP Area. This key zone links two areas that now host NI 43-101 mineral resource estimates1,2, and has not previously been explored.
Initial reconnaissance and sampling indicate that the high-grade Au-Ag concentrations are associated with well zoned, low-temperature epithermal veins and include amethystine quartz, among other quartz types, and with low sulphide content. Locally, some of the veins exceed 10% combined lead and zinc (Table 1). Systematic sampling of the different veins led to the definition of a 2 km2 large prospective zone in the GAP area.
