JR Silver Mining Limited (GRSL-TSXV, OTCQB, GPE-Frankfurt) reported positive drilling results from the resource expansion program in the San Marcial area of the Plumosas Project in Mexico.
Diamond exploration at the SE extension target confirms an extension of high-grade silver mineralization for at least an additional 150 meters to the southeast of the 2023 NI 43-101 compliant resource estimate, the company said.
“Results from two new resource expansion areas at San Marcial demonstrate the continued effectiveness of our 20,000 meter drilling program and reinforce our confidence in the exploration potential in both the Southeast Extension and the parallel Brescia zone,” said Eric Zaunscherb, President and CEO of GR Silver. “We look forward to continuing to advance these targets as we continue to better define and expand the mineralized system.” “As the program progresses, new data will allow us to pursue higher-grade features such as the cross-extension zone at Hole SMS26-04 in the SE zone, which returned 45.1 meters true width estimated at 1,623 g/t silver, including 8.25 meters true width at 8,579 g/t silver.
More recent drilling includes SMS26-07, which intersected two distinct mineralized zones in the SE extension target and returned 21.9 meters true width at 168 g/t silver and 1.41% zinc from 191.5 meters downhole, including 6.15 meters true width at 447 g/t silver and 0.85% zinc.
SMS26-08 intersects a near-surface mineralized zone of quartz, calcite and tourmaline deposits developed at the intersection with a NE-SW trending structure. It returned an actual width of 2.85 meters at 340 g/t silver and 0.32 g/t gold, from 63 meters down the hole.
GR Silver shares advanced on the news, rising 3.2%, or $0.01, to 32 cents. Shares are trading in a 52-week range of 74 cents to 15 cents.
The Plumosas Project, including the recent high-grade silver discovery in the San Marcial SE area, progresses in 2026 as an emerging high-grade silver district located on the southwestern edge of the Sierra Madre Occidental, on the border of Durango and Sinaloa. The project, which covers an area of 7,823 hectares, including the historic Plumosas underground mine, takes advantage of existing mine infrastructure, road access and permits associated with past productive mining sites.
The area contains medium to low sulfidation refractory silver and gold mineralization, found in hydrothermal veins and veins. Extensive, high-quality, shallow areas of hydrothermal water have been identified in the San Marcial area, including the southeastern discovery. Gradual drilling will continue in 2026, with continued resource growth, primarily targeting pure silver resources.
To date, the company has identified an indicated resource of 15 million tonnes of 179 g/t silver equivalent (AgEq) or 85 million ounces. Furthermore, there is an inferred resource of 9.0 million tonnes of 171 g/t AgEq or 49 million ounces.
