Goldplay Announces Positive Results from Sampling of Historical Core at San Marcial - Attractive Silver-Lead-Zinc Mineralization Supports Open Pit Potential
Goldplay Announces Positive Results from Sampling of Historical Core at
San Marcial - Attractive Silver-Lead-Zinc Mineralization Supports Open Pit
Potential
VANCOUVER
,
Oct. 9, 2018
/CNW/ -
Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF - the "Company" or "Goldplay")
is pleased to announce
additional positive results from sampling of the historical core drill holes, completed in 2010 ("historical core"), from the Company's San Marcial Project in
Mexico
.
The high-grade results support open pit potential of the initial 500 meter long deposit.
57.3 meters (true width 51.6 meters) @ 122 gpt AgEq
Including 14.3 meters (true width 12.9 meters) @ 278 gpt Ag Eq
Including 18.6 meters (true width 16.7 meters) @ 117 gpt AgEq
58.7 meters (true width 52.8 meters) @ 104 gpt AgEq
Including 12.5 meters (true width 11.2 meters) @ 379 gpt AgEq
Goldplay President and CEO
Marcio Fonseca
commented
, "The shallow depth of intersections, favorable topography, width and high-grade of results
announced in this release continue to reinforce the high-grade open pit development potential at San Marcial. The results also outline opportunities for expansion
of the deposit, not only considering the silver mineralization but also zinc and lead with definition of new mineralized zones along strike and down dip, which were
not previously incorporated in the historical interpretation. New Ag-Zn-Pb-Au mineralized zones identified from continued systematic sampling of historical core will
be included in the upcoming resource estimation update scheduled for
December 2018
".
The location of drill holes completed prior to the historical resource and the location of sampled drill holes SM-10-07 and SM-10-15 are illustrated below (Figure
1).
Figure 1: Drill Hole Location Map San Marcial Project (CNW Group/Goldplay Exploration Ltd)
Results of drill hole SM-10-07 (Figure 2) have confirmed near surface, wide mineralization of 57.3 meters @ 122 g/t AgEq, including two high grade silver rich
zones hosted in a broad polymetallic Zn-Pb mineralized system hosted by hydrothermal breccias. The positive results extend the mineralization down dip and
increase the potential size of the deposit in conjunction with additional sampling in other drill holes on the same cross section.
Drill hole SM-10-15 (Figure 3) intersected a zone near surface containing 58.7 meters @ 104 gpt AgEq which, together with historic trench results on the same
cross section (13.9 meters @ 419 gpt AgEq), confirms the mineralized zone geometry at the NW extremity of the historic resource.
The following table highlights the most significant drill results (uncut) from SM-10-07 and SM-10-15 for this news release:
Hole No.
From (m)
To (m)
Interval
(m)
True
Width
(m)
Ag g/t
Pb %
Zn %
Au g/t
AgEq*
g/t
SM-10-07
103.2
160.5
57.3
51.6
59
0.6
0.7
0.02
122
including
113.3
127.6
14.3
12.9
56
2.5
2.6
0.01
278
including
134.7
153.3
18.6
16.7
109
0.02
0.1
0.01
117
SM-10-15
53.8
112.5
58.7
52.8
82
0.2
0.3
0.01
104
including
53.8
66.3
12.5
11.2
349
0.3
0.3
0.03
379
Note: all numbers are rounded.
AgEq (silver equivalent) is calculated from gpt data. AgEq g/t = Ag g/t + Au g/t x (
Ag Price
per oz/ Au price per oz) + (Pb grade x ((Pb price per lb./Ag price per
oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)).
Ag price per oz
(US$16.50)
, Au price per oz
(US$1,250)
, Pb price per lb.
(US$0.95)
and Zn price per lb.
(US$1.15)
and 100% Metallurgical Recovery.
Figure 2: San Marcial Cross Section K-L (CNW Group/Goldplay Exploration Ltd)
Figure 3: San Marcial Cross Section I-J (CNW Group/Goldplay Exploration Ltd)
These results continue to reveal silver-lead-zinc mineralization in the historic resource area as well as down dip and along strike, in zones not previously included in
that resource.
A multi-phase mineralized event is interpreted to have produced a broad polymetallic mineralized footprint hosted mainly by hydrothermal breccias and with high
grade zones following major structures. The Company will continue its drill core sampling program, aiming to complete a NI 43-101 resource estimate during the
December 2018
quarter. The potential area to expand and connect mineralized zones previously modelled in the historic resource is illustrated in the longitudinal
section (Figure 4).
Figure 4: San Marcial Longitudinal Section A-B (CNW Group/Goldplay Exploration Ltd)
To view drill hole location map and longitudinal section from this news release, please click the following links:
Historical Drill Holes Location Map San Marcial
Cross Section I-J San Marcial
Cross Section K-L San Marcial
Longitudinal Section San Marcial
QA/QC Protocols
Thorough QA/QC protocols are followed in all sampling programs and in assays completed by the Company. Goldplay's management includes routine duplicates,
blanks and standard samples in assay lots for all surface and drill hole samples. The samples are submitted directly to the SGS laboratory facilities in
Durango,
Mexico
, for sample preparation and assaying. The assaying at SGS is by Fire Assay with AA finish, for Au (> 10 ppm gravimetric finish), Ag ICP-AES with 4 acid
digestion (up to 100 ppm). For Ag results over 100 ppm an ICP-AES 4 acid digestion with detection limit from 100-1,000 g/t is completed at SGS laboratories in
Vancouver, Canada
. For samples with over limits of Zn and Pb (>10,000 ppm), an ICP-AES with Sodium Peroxide Fusion is performed, to improve recovery.
The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is
Marcio Fonseca
, President and CEO of Goldplay,
who has reviewed and approved its contents.
About Goldplay Exploration Ltd
.
Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District,
Sinaloa, Mexico
. Goldplay's current exploration focus includes surface
exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south of the
La Rastra
and Plomosas historical mines and 20 km from the Company's 100% owned
El Habal Project in the Rosario Mining District,
Sinaloa, Mexico
. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a
historical resource estimate has been previously disclosed.
San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration
targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and
historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with
evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario
Mine which reportedly operated for over 250 years. Goldplay's team has over 30 years of experience with senior roles in exploration, financing, and development
in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A
current NI 43-101 report on the El Habal Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current
expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and
the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such
statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those
contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause our actual results, performance or
achievements, or other future events, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS
PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS
SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO
UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Mr.
Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this press release.
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For further information:
+1 (604) 202 31 55, Email: [email protected], Website: www.goldplayexploration.com, 999 West Hastings Street, Suite
900, Vancouver, British Columbia V6C 2W2
CO: Goldplay Exploration Ltd
CNW 11:08e 09-OCT-18