Gr Silver Mining Ltd (OTCMKTS:GRSLF) Stock PullsBack After The Recent Surge

Gr Silver Mining Ltd (OTCMKTS:GRSLF) stock continues saw a bit of pullback on Friday after the recent jump. The stock is up 10% over the past week.

Market Action

On Friday, GRSLF stock lost 3.71% at $0.2359. A total of 93k shares traded for the session hands, below its average volume of 139K shares. The stock opened at $0.2505 and moved in a range of $0.2359 – 0.2511.

Key Trigger

GR Silver Mining Announces Filing of Technical Report for the Plomosas Project in Sinaloa, Mexico

Gr Silver Mining announced that a Technical Report titled “Technical Report for the Plomosas Project, Sinaloa, Mexico” has been filed on SEDAR (  The report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”).

Indicated Resources: 10.3 Moz AgEq – 3.4 Moz Ag, 53 koz Au, 73 Mlbs Zn, and 48 Mlbs Pb.

Inferred Resources: 21.0 Moz AgEq – 8.6 Moz Ag, 85 koz Au, 149 Mlbs Zn, and 116 Mlbs Pb.

The incorporation of extensive historical data and completion of the initial resource estimates at the Plomosas Project (“Plomosas”) incremental to the nearby San Marcial NI 43-101 mineral resource estimate of 36.0 Moz AgEq # Indicated resources and 11.9 Moz AgEq # Inferred resources (see News Release dated June 12, 2020), represents a major milestone for GR Silver.

Mining Estimates include 80 new drill holes and 476 historic drill holes representing a total of 100,672 m of drilling covering two areas, the former Plomosas Mine and the San Juan area. The present resource included a sampling of historical drill holes completed by previous companies that was frequently selective, resulting in a large amount of drill core unsampled; this core is no longer available. Unsampled intervals within mineralized zones were assigned zero values for the resource estimation, including in areas with evidence of precious and base metals mineralization. Further drilling will address these blank spots to potentially continue resource growth at the Plomosas Mine and San Juan areas.

Trader Notes:

GRSLF stock is trading below all the key moving averages with 200-day and 50-Day SMA stand at $0.48 and $0.29 respectively. The stock has fallen 62% so far this year.