Goldplay Channel Sampling Program Reports High-Grade Silver Results at San Marcial
Goldplay Channel Sampling Program Reports
High-Grade Silver Results at San Marcial
Project Including 0.6 m @ 587 g/t Ag
VANCOUVER
,
Oct. 3, 2019
/CNW/ -
Goldplay Exploration Ltd. (TSXV: GPLY,
FRANKFURT
:
GPE, OTCQB: GLYXF) ("Goldplay" or the "Company")
is pleased to announce that encouraging
results in both silver (Ag) and gold (Au) have been received from the San Marcial Project, in Sinaloa
State,
Mexico
.
Channel sampling results include
0.6 m
@ 587 g/t Ag and anomalous Au
Surface channel samples taken along the access road at the Faisanes Target
Drilling continues at the Faisanes and Nava Targets
Results support the Company's theory that a high-grade precious metals system extension
exists outside the San Marcial NI 43-101 resource (
News Release dated
7 February, 2019
)
Surface exploration and channel sampling at Faisanes have revealed additional high-grade silver and
gold anomalies (Figure 1). Channel sampling consisted of saw-cutting along the road walls and road
surface near the SM-19-01 discovery drill hole (
News Release dated
30 July, 2019
),
which returned
a
1 m
intercept of 204.6 g/t gold. The channel sampling was augmented by systematic geological
and structural mapping along the road.
Figure 1: San Marcial Project – Location of High-Grade Au + Ag at Faisanes Target (CNW
Group/Goldplay Exploration Ltd)
The high-grade silver and anomalous gold samples are located on the NW edge of the existing
resource area and as such are interpreted as potential extensions of the breccia-hosted silver
mineralization. Additional investigations are underway to understand the links between these
anomalous silver and gold zones and the high-grade gold result recently reported in SM-19-01
(Figure 2). The following table outlines the latest channel sample results:
Table 1: San Marcial Trench SMtr-001 Extensions: Best assay results
Type
Location
From (m)
To (m)
Sample
Grade Ag
Grade Au
Length (m)
(g/t)
(g/t)
Channel
Extension Trench SMtr-001
1.0
11.0
10.0
98
0.06
including
8.0
10.0
2.0
132
0.15
Channel
Road Surface
0.0
0.6
0.6
587
*
Road Surface
0.6
1.6
1.0
214
*
Road Surface
1.6
2.7
1.1
42
*
Channel
Nth extension - creek
1.0
2.0
1.0
41
0.26
All numbers are rounded. Insufficient information is known of the orientation and controls of these latest intervals to determine true thickness. As a result, the thickness
represented here is actual sample thickness. Mineralized zones are calculated allowing for maximum 1 m of internal waste. High-grade interval uses 80 g/t Ag cut-off grade and
low-grade interval uses 30 g/t Ag cut-off grade. * Below detection limit
Goldplay President and CEO
Marcio Fonseca
commented,
"Over recent months, our exploration
activities to expand current NI 43-101 silver resources at San Marcial have succeeded in
delineating new high-grade silver and gold targets. Additionally, we have recently discovered new,
high-grade silver zones peripheral to the resource area. These silver and gold results support our
theory of a high-grade mineralized system hosted in geological structures (faults) on the NW edge
outside of the resource area. We expect to further explore these geological structures hosting high-
grade mineralization, targeting the definition of additional resources at the Faisanes target."
Figure 2: Faisanes Target: Location of Channel Sample Results (CNW Group/Goldplay Exploration
Ltd)
CURRENT DRILL PROGRAM
The Company is currently executing its maiden drill program at San Marcial, focusing on the
Faisanes and
Nava
targets. To date, one drill hole has been completed at Faisanes and three drill
holes have been completed at
Nava
. Additional holes at both targets will be completed in this current
drill program.
Phase I drilling at San Marcial brought immediate success with drill hole SM-19-01 intersecting a
very high-grade gold interval of
1 m
at 204.6 g/t Au at Faisanes on the NW edge of the Resource
(Figure 1). This high-grade gold intercept has been followed up with detailed geological and
geochemical modelling of the target. Findings from the latest mapping and sampling, including
geological/structural evidence of additional structures hosting mineralization, strongly support further
drilling along the 600 metres of strike length at Faisanes in the Phase I drilling program.
The Company is currently drilling at the
Nava
target located 1.5 km west of the San Marcial
resource area and approximately 1 km west of the Faisanes discovery. A 500 metre-long gold
mineralized zone has been defined on surface at
Nava
. For further details, see
News Release dated
10 July, 2019
. Drilling at
Nava
will comprise four shallow drill holes testing
continuity of mineralization discovered by surface trenching across shallow artisanal workings.
Laboratory analyses for
Nava
drill holes are pending.
Qualified Person
The scientific and technical data contained in this news release related to the San Marcial Project
was reviewed and/or prepared under the supervision of
Marcio Fonseca
, P.Geo., a non-independent
qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological
information contained in this news release is accurate and who acts as "qualified person" under the
National Instrument 43-101 Standards of Disclosure of Mineral Projects.
Quality Assurance Program and Quality Control Procedures ("QA/QC")
Goldplay has implemented QA/QC procedures which include insertion of blank and standard
samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in
Durango,
Mexico
, for sample preparation and assaying. For every sample with results above Ag >100 ppm
(over limits), these samples are submitted directly by SGS de
Mexico
to SGS Canada Inc in
Burnaby, BC
. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical
Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over
limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry
Lead Fusion Fire Assay and gravimetric finish for gold above over limits.
About Goldplay Exploration Ltd
.
Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral
concessions in the historic
Rosario
gold-silver Mining District in the state of
Sinaloa, Mexico
. Its
flagship project, San Marcial, consists of a 1,250 ha land package located south of the
La Rastra
and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open
pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early
2019. Additionally, high-grade gold was drilled in
July 2019
at San Marcial, opening up the potential
for further gold success. Goldplay's 100% owned
El Habal
precious metals project is located 20 km
west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the
modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of
Rosario, Sinaloa, Mexico
.
Goldplay's current focus includes expanding its NI 43-101 resource estimate at the San Marcial
project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-
grade gold and silver targets along the project's 6 km mineralized trend. Goldplay is the first
company to perform exploration work at San Marcial in over 10 years. It is a low-risk development
stage project, fully exploration permitted and supported by the local communities to carry out all
proposed exploration activities. Only
500 m
of the 6 km trend has been drilled to date, highlighting
the significant potential for further discoveries. The Company has identified 8 high-priority targets
along the 6 km trend and is currently drilling two high-priority targets at Faisanes and
Nava
. Some of
these exploration targets consist of old shallow pits, caved shafts and historic shallow underground
workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a
felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-
rhyolite dome structures in a highly prospective geological environment for additional high-grade gold
and silver discoveries.
The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a
series of rolling hills with evidence of historic shallow underground mining along a 6 km-long
prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which
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.
The NI 43-101 reports for each of the San Marcial and El Habal Projects are available 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.
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.
SOURCE
Goldplay Exploration Ltd
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For further information:
+1 (604) 202 3155, Email: [email protected]
CO: Goldplay Exploration Ltd
CNW 08:00e 03-OCT-19