GR Silver Reports Successful Metallurgical Test Work Results for the Bulk Sampling Test Mining Program at Plomosas Project
De-risking the Plomosas restart through metallurgical success while managing a massive warrant-driven share overhang
The most recent news (February 5, 2026) reports successful metallurgical test work results for the Plomosas Project. Key highlights include: - High recoveries for precious metals: 71.5% for silver and 77.9% for gold into lead rougher concentrates. - Feed grades were robust, with composite grades around 595 g/t AgEq. - Concentrates for both lead and zinc are within commercial specifications, allowing for standard smelter agreements. - Results support the engineering design for a potential pilot plant and de-risk the potential restart of the historical underground mine.
The news is material and positive as it provides the technical "proof of concept" for processing the ore at Plomosas. It confirms that the high-grade silver and gold identified in drilling can be converted into a marketable product. - Project De-risking: The confirmation of cleaner flotation success and commercial-grade concentrates reduces the technical risk associated with a restart. - Guidance Alignment: These results directly support the 2026 guidance provided on January 15, 2026, which prioritized the Bulk Sampling Test Mining (BSTM) program and pilot plant. - Resource Confidence: High feed grades (585-595 g/t AgEq) in the samples provide confidence in the high-grade nature of the unmined areas of the Plomosas Mine. - Economic Implications: Successful gold recovery (which was improved over 2021 results) adds a significant credit value to the lead concentrate, potentially improving the internal rate of return (IRR) for the upcoming Preliminary Economic Assessment (PEA).
GR Silver Mining is a Mexico-focused explorer/developer. - Flagship Project: The Plomosas Silver Project (7,823 hectares) in Sinaloa, Mexico. - Assets: Includes the past-producing Plomosas underground mine (infrastructure in place: 7.4km of development, permits, road/power) and the San Marcial area (high-grade silver discovery). - Strategy: Aggressive resource expansion at San Marcial while simultaneously restarting the Plomosas Mine via a pilot plant/BSTM approach.