GR Silver Mining
Primary ticker: TSXV:GRSL, OTCQB:GRSLF, DEU:GPE
Stage of development: Exploration
Primary minerals: Silver-gold-lead-zinc
Project to promote: Plomosas Project
Project location: Mexico
Website: www.grsilvermining.com
GR Silver Mining Ltd. (TSXV: GRSL | OTCQB: GRSLF | DEU:GPE) is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project.
Cash: CAD 1.6M
Debt: /
Major shareholders:
First Majestic – 6.5%
Management & Insiders – 4.2%
Mackenzie Financial – 1.2%
Sprott Asset Mgmt. – 0.7%
Canada Life Investment Mgmt. – 0.6%
Financials
Management Profile
Eric Zaunscherb, CEO & Chair, is a Canadian-based mining executive. He was appointed Director of GR Silver Mining in April 2020, elected Chair in in June 2021, and appointed CEO in March 2022. He was appointed Director of Critical Elements Lithium in March 2020 and elected Chair in September 2020. He also serves as Independent Director of Valkea Resources and TriStar Gold. To December 2019, he was Managing Director, Research – Metals & Mining Analyst at Canaccord Genuity where he was responsible for coordinating the firm’s global mining equity research platform. He has over 30 years of experience as a mining equity analyst. He holds a B.Sc. (Geology) from McMaster University in Hamilton, Ontario (1984) and the Charter Financial Analyst designation (1990).
What is your rationale for taking part in 121 Mining Investment?
What recent news would you like to highlight to investors attending?
August 2022 – Discovery of the SE Area Discovery Zone featuring wide, high-grade silver mineralization, intersection of 101.6 m averaging 308 g/t Ag, including multiple Intervals >1,000 g/t Ag.
March 2023 – Updated NI 43-101 compliant resource estimate featuring 15Mt Indicated averaging 117 g/t Ag for 55Moz Ag or 179 g/t AgEq (85Moz AgEq), and 9Mt Inferred averaging 78 g/t Ag for 22Moz Ag or 171 g/t AgEq (49Moz AgEq).
March 2024 – Commencement of a Bulk Sampling Test Mining program at non-core San Juan deposit, entering into commercial agreements with private local mining and milling operators in the district.
April 2024 – Closes settlement with Mako Mining, receiving US$500,000 cash and US$460,000 in Mako Mining shares in exchange for a Waiver and Release Agreement.
July 2024 – Closes disposition of Marlin Gold subsidiary to private arm’s-length party thereby eliminating most of the Company’s working capital deficit without diminishing its resource inventory.
August 2024 – Appointment of two new directors to the Company’s board, bringing additional mining and capital markets expertise to bear on behalf of shareholders.
September 2024 – Raised $2.4 million in a twice-upsized non-brokered private placement, positioning the Company to reinvigorate its exploration of the highly prospective Plomosas Project.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Position the Company for commencement of a significant exploration program at San Marcial.
6 Months:
Demonstrate the considerable scale of the wide, silver-dominant mineralization system at San Marcial. Surface value in the former Plomosas Mine on behalf of shareholders.
12 Months:
Demonstrate the value proposition that the San Marcial mineralized system represents.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
2) Retention of the extraordinary expertise embodied in the Company’s Mexican team, which we consider one of our competitive strengths. This requires respecting, incentivizing, and engaging this talented team.
3) The Mexican political and regulatory landscape offers challenges, which we can overcome by being top tier corporate citizens and partners to our community and state stakeholders.
What do you think makes your company such a compelling investment?
What are the top 3 key investor takeaways?
• Highly prospective Plomosas Silver Project in Sinaloa, Mexico (100% owned) featuring a unique geological setting responsible for wide, high-grade, silver-dominant mineralization, including the former Plomosas Mine, fully-developed and permitted.
• Substantial financial turnaround executed, positioning the Company for a return to active exploration.
• Strong leadership team and board of directors, and an exceptional Rosario District work-force ready to be re-activated.