The mining company. We've got Eric Zaunscherb, who is the Interim President and CEO at GR Silver. Eric, the stage is yours. You know how these work?
Yep. Super. Thanks very much, Peter. Thanks also to the organizers of MIF for this event. Appreciate them doing that. Peter, thank you for setting the stage for the silver segment. I also wanted to acknowledge the three other companies we have here. It's a real honor to share the stage with them. Much appreciated. The first thing I wanna do is honor the memory of the Founder of GR Silver, the Founder, the Director, Chief Executive Officer and President, Marcio Fonseca, passed away on March 25th.
I am the Interim CEO and President, the last few weeks I've been flying a kite in a tornado and drinking from the fire hose and making up time, catching up with what Marcio has been up to, very importantly, going to Mexico, visiting with our teams and getting a handle on what they're at. They're all very proud of what they have been doing, and they're very keen to honor Marcio's legacy by fulfilling his vision for the company. Usual cautionary statements. We currently have just under CAD 30 million in the bank. Our market cap is around CAD 160 million. One of the more liquid traders on the TSX Venture. We were top 10 through the most of 2025 and more recently in the top five.
We have a 508 million share count at this point in time as we dug our way out of a very large working capital deficit a few years ago. We've also seen a nice bump in the institutional shareholdership of the company as we've gone from around 3% institutional to something over 20%. It's all about value creation. We currently have 134 million oz silver equivalent in the resources. That's a 2023 statement. Very importantly, we have a past producer that was in operation from 1986 to 2000, and that has all the infrastructure aside from a mill, but 7.4 km of underground development, a power line, road access, et cetera. I mentioned that we are fully funded. We're good for a year and a half or so.
Very importantly, we have a de-risked geological model. This is a complex system that we have on the Plomosas project in Sinaloa, and it's a system that offers a great deal of potential. Part of the beauty of this system is the extreme thickness. In the San Marcial discovery, we're looking at 22 m of thickness. We're not chasing small 1 or 2-meter veins. As a result, the historical cost of discovery is very inexpensive. CAD 0.17, roughly $0.12 per ounce of discovery, and we're trading at roughly $1.20, $1.25 per ounce. There's your value proposition right there. Discover it for $0.12, and the market will reward you for $1.20, $1.25. What are the four major catalysts going forward in this year? We're active.
Although it's Sinaloa, we've all heard about Sinaloa and the terrible tragedies in Vizsla and so on and so forth, we are active. We are drilling. We have three rigs turning. We're 4,000 m into a 20,000 m drill program. That drill program, when it's complete, will lead into a resource update, and we have a significant growth there that we intend to fulfill. That will be followed by a preliminary economic assessment, looking at both that previous mine and the new discovery in a combined basis. In the interim, we're looking at doing a bulk sample test mining program. By that, I mean bringing in a small pilot plant to sit at the Plomosas site and do that bulk sampling. This is what it looks like in this area, and you can see that we're right at the border between Durango and Sinaloa.
Back in November, Marcio was very prescient in seeing that the situation was getting more and more difficult off to the west within Sinaloa. Fortunately, we have a back door. We have a road access into the state of Durango, to the city of Durango, and that is what we're using right now as our logistics route, supplying the drill rigs with fuel and taking out core boxes. We've relocated our exploration office to Durango, and we have our core shack there as well. Again, we are able to drill and proceed with our program. I mentioned that we have the former Plomosas mine. That sits on a fully permitted mining concession with lots of small artisanal operations that were located there. Slightly to the south, about 8 km to the south, is the San Marcial exploration concession.
Now, part of the reason for putting in a small plant here, it'd be nice to earn some money, we'd all like to do that, but really the entire purpose of that small pilot plant is to demonstrate to the government that we can operate there, get social license, employ local people, and it's our theory, our belief, and we've had some good encouragement on this belief, is that we can take this exploration concession towards production at a faster rate. On a standalone basis, a mining exploration concession might take five to seven years before cash flow. By tying it to an existing mining concession, however, we believe we can shortcut that by a year or two, and that's the purpose of that program at Plomosas. Now we zoom in at San Marcial. This lovely orange and yellow blob is an IP anomaly, a chargeability anomaly.
We're using geophysics where we can measure the chargeability, that we know relates to an intrusive body. An intrusion is what drives a mineral system. That provides the energy, it provides the metals, it provides the fluid flow, and then often we see these metals migrate out from that, hit traps, and get deposited. In this case, we've discovered, you can see all our nice lovely purple drill holes here, that on the shoulder of this intrusive is where we're finding mineralization. Now, that's only roughly 20% of that perimeter of that intrusive. That's our primary target, find mineralization on the perimeter of that intrusive body. Wait, there's more. That intrusive body, as we sample at surface, we find that the copper and moly content, the molybdenum content of those samples increases.
We have the hydrothermal breccia on the shoulder, and we have an nice potential porphyry model target as well. If we do a slice through that, again you can see the chargeability anomaly, and on the shoulder of that is this hydrothermal breccia, and that just means it's been blasted by hot fluids that have broken the rock. Our very first hole into this, a couple of years ago, encountered 102 m at 308 g of silver. Not silver equivalent, but silver. That's very, very attractive. It's very rare to find a deposit that's roughly 90% silver and has that kind of a width, averaging, as I said, around 22 meters. We're very excited to put a bunch of new holes into that.
As we step further on here, you can see this body, this green body here is that initial hydrothermal breccia. You can see the purplish holes underneath and to the southeast. We have two rigs at the moment testing those extensions. We discovered a parallel breccia, another blasted body, that not just has silver, but is also getting gold picking up. We're getting a nice intersection of silver, but also within that, a meter of 25 g gold. More silver, 1.2 m of 32 g gold. As we come into that intrusion, you see zonation of metal, in this case, increased gold. We'll see as we drill through this, if we get into the intrusive, we'll see whether there's copper and moly there as well. We're quite excited about that potential from this drill program.
That thickness of silver mineralization allows us to be extremely efficient in our drilling. You can see where we're getting over 4,000 oz per meter of drilling, which compares quite favorably. That's what it looks like at Plomosas now if we move 8 km to the north. The former mine, the mining camp that we've restored, the location of the former plant that was removed in 2000, and we'll put a small plant in that location. The mine entrance, that's the lower entrance. Around the back is the upper entrance. You've got a full 7.4 km of underground development. We've done a program to sample to identify some very high-grade areas that will be the focus of bulk sampling here.
We've got a strong team, again honoring our former President and CEO, myself, great team CFO, right on through to our country manager, who spent over 35 years in Mexico running operations there. Wonderful board as well, apart from me. You've got Brent McFarlane, who is a mine builder, was with SilverCrest, built and operated mines there. Larry Taddei is a former CFO of MAG Silver. Jessica Van Den Akker, as far as I'm concerned, she is one of the rising stars in the Vancouver scene, a former auditor, and Trevor Woolfe, our former VP exploration. Some key catalysts. We've got news flow coming from drilling. We believe that that's going to lead to a resource update, similar, significant increase in numbers of ounces. We have liquidity that we need. You're gonna hear about the purchase of a plant to fulfill this bulk sample test mining program and a PEA at the end of it that'll combine the two project sites. Very important is this low cost of discovery, high efficiency. I thank you very much for your attention. I really appreciate you taking the time. Thank you.