08:24 AM EST, 03/05/2024 (MT Newswires) -- GR Silver Mining Ltd. ( GRSLF ) , which jumped more than 30% and hit 52-week highs yesterday, overnight Monday said that it has advanced talks and entered into commercial agreements with private local operators in the Rosario Mining District, in Sinaloa, Mexico, to explore opportunities related to the Plomosas Project.

GR Silver is considering options to advance mine preparation to extract bulk sample material to collect information for future use in engineering reports and metallurgical testing of Ag-Au-rich Pb concentrates.

GR Silver is also considering options to use existing permits and infrastructure to allow the company to access mineralized material through small test bulk sampling operations, up to 4,500 tons per month for metallurgical sampling from historical mine sites, San Juan and La Colorada.

Additionally, GR intends to use existing and available third-party privately-owned mill operations located near the historical mine sites with a capacity of up to 140 tons per day to process the BSTM Program material, obtaining monthly producing small batches of Ag-rich concentrate for metallurgical characterization.

GR also intends to explore cost savings strategies. This will allow the company to advance the exploration of the Plomosas Project and gain additional knowledge related to high-grade modeling & targeting, grade reconciliation, and mineral deposit modeling to define new drill targets in the vicinities of the existing historical mines.

The company has initiated the BSTM Program at the San Juan and La Colorada sites.