GR Silver Reports Significant Drill Results at San Marcial: 21.9 m at 168 g/t Ag including 6.15 m at 447 g/t Ag in the SE Area
GR’s San Marcial step-out extends silver breccia 150m southeast with 21.9m at 168 g/t Ag true width.
GR Silver Mining Ltd. (GRSL) has released results from its 2026 step-out drill program at the San Marcial area of the Plomosas project in Mexico. The company stated that the results from the SE Extension target confirm high-grade silver mineralization for at least an additional 150 meters southeast of the 2023 Mineral Resource Estimate (MRE) boundary.
Key intercepts from the SE Extension target include:
- Hole SMS26-07 intersected 21.9 m true width (TW) at 168 g/t Ag and 1.41% Zn, including 6.15 m TW at 447 g/t Ag and 0.85% Zn.
- Hole SMS26-06 returned 12.25 m TW at 57 g/t Ag and 0.23 g/t Au.
- Hole SMS26-05 returned 0.80 m TW at 116 g/t Ag.
Results from the Parallel Breccia target indicate structural control with high-grade silver and low- to moderate-grade gold intervals. The best intercepts from this target include:
- Hole SMS26-08 intercepted multiple zones, with the best being 2.85 m TW at 340 g/t Ag and 0.32 g/t Au, including 1.75 m TW at 450 g/t Ag and 0.37 g/t Au.
- The same hole also returned 0.75 m TW at 5.34 g/t Au.
GR Silver Mining Ltd. (GRSL) announced drill results from the San Marcial system that confirm the mineralized footprint extends an additional 150 meters. The new intercepts display good but not spectacular grades, adding to a system that already includes the world-class bonanza intercept SMS26-04. The estimated contained metal addition from this single hole is too small to meaningfully shift the company’s 134 moz AgEq resource base.
The stock has experienced a sharp decline from C$0.65 to approximately $0.30–$0.35 before stabilizing. This price action suggests the market has already discounted further bonanza-scale hits. As an explorer rather than a producer, GRSL is expected to provide incremental news flow through resource extension holes. These results are viewed as routine and positive, but not transformational, as the market has already priced in a large, high-grade system.
GR Silver Mining Ltd. (GRSL) is a Canadian-based junior explorer that holds 100% ownership of the Plomosas project, located on the Sinaloa/Durango border in Mexico. The project encompasses the San Marcial silver discovery and the historic Plomosas underground mine, which together host 134 moz AgEq in NI 43-101 resources, with 68 moz attributed to San Marcial and 66 moz to Plomosas.
The company is fully funded with C$27.5M in cash as of Q1 2026 and carries no debt. It is currently executing a 20,000 m step-out drill program in 2026, which will be followed by a resource update and a preliminary economic assessment (PEA). GR Silver Mining recently lost its founder and CEO, with continuity provided by an experienced interim CEO.