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GR Silver Mining Signs Definitive Agreement with First Majestic for the Acquisition of the Plomosas Silver Project
GR Silver Mining Signs Definitive Agreement with First Majestic for the Acquisition of the...
About this update from Gr Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\nGR Silver Mining Signs Definitive Agreement with First Majestic for the Acquisition of the Plomosas Silver Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 2, 2020\n\n\n\nVANCOUVER, March 2, 2020 /CNW/ - GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (\"GR Silver\" or the \"Company\") - further to its news release of January 7, 2020, the Company is pleased to announce that it has signed a definitive binding Share Purchase Agreement pursuant to which the Company, through its Mexican subsidiary, will acquire all of the shares of Minera La Rastra S.A. de C.V. (\"Minera La Rastra\") from First Majestic Silver Corp. (NYSE: AG, TSX: FR, FRANKFURT: FMV) (\"First Majestic\"). Upon completion of this transaction, it will hold 100% of the Plomosas Silver Project (\"Plomosas Project\"), a portfolio with significant exploration potential for the development of the mineral resources from existing inventories and for new discoveries in 2020.\nThe Plomosas Project is strategically located within 5 kilometers of GR Silver's San Marcial Project in the Rosario Mining District, Sinaloa, Mexico (Figure 1). The past-producing Plomosas Project includes: a shallow historical silver (Ag) - gold (Au) - lead (Pb) - zinc (Zn) underground mine (Plomosas mine); four (4) targets at drilling/resource stage and 16 exploration targets; +30 km of under-explored mineralized veins/structures; and an extensive drill and exploration database including in excess of 500 recent and historical drill holes. \nThe Plomosas Project comprises 8,515 hectares of mining concessions, which are in good standing and valid up to the year 2058. The project includes key facilities and infrastructure to enhance development such as: the Plomosas underground mine with 8 km of underground development; a 60 km fully operational 33 KV power line; fully operational offices and shops; a 120-person camp; and warehouses and ancillary facilities available for immediate use by GR Silver. The Plomosas Project has a 20-year surface rights agreement in good stan...