Goldplay Exploration announces surface trenching program results to date at the 100% owned El Habal Property: including 130 meters grading 1.86 g/t Au, 100 meters grading 1.20 g/t Au , 90 meters grading 0.84 g/t and the most recent
Goldplay Exploration announces surface trenching program results to date at the
100% owned El Habal Property: including 130 meters grading 1.86 g/t Au, 100
meters grading 1.20 g/t Au , 90 meters grading 0.84 g/t and the most recent
discovery expanding the mineralized zone further east with 20 meters grading
1.33g/t and 50 meters grading 0.48 g/t Au including (13 meters grading 1.07g/t)
VANCOUVER, June 5, 2018 /CNW/ - Goldplay Exploration Ltd. (TSXV: GPLY - the "Company" or
"Goldplay"), is pleased to provide a summary and additional results of the surface trenching program at
the El Habal Property in Sinaloa, Mexico. The results to date have identified oxidized gold mineralization
on the surface along a 1000 meter-long mineralized zone. Additionally, the results of recent trenching at
the Octavio target support opportunities to continue exploration along the mineralized zone to the east,
(figure 01).
Results from the surface trenching program to date shows significant widths, high grades and consistent
mineralization on the surface at most targets at the El Habal Property. These results together with a
recently completed ground geophysical survey program ("CSAMT") defined quality drill targets under
investigation in the ongoing core drilling program.
Figure 01- El Habal map showing drill targets inside the 1000 meter-long mineralized corridor with surface
trenching results and in progress drilling program.
All intervals have been reported on an uncut basis. In some of the trenches, where bedrock was not
available, sampling was completed in the vicinity to access bedrock and provide sampling coverage on a
continuous basis. A complete table with all results can be found at: http://bit.ly/SurfaceTrenchResults
Surface Trenching Highlights
Santos Target
Trench From (m) To (m) Width (m) Au (g/t) Comment
Santos 0 130 130 1.86 (1)-includes internal dilution
including 38.5 63.8 25 3.39
including 94.3 121.8 26 4.13
Figure 02- Santos Map – Location of Samples & Results
Sampling was completed near shallow historical underground or surface mining works close to major
structures intersecting a highly silicified rhyolite. Occurrence of visible gold was reported in a group of
high grade samples in this target.
La Reina Target
Trench From (m) To (m) Width (m) Au (g/t) Comment
La Reina 0 90 90 0.84 (1)-includes internal dilution
including 25.2 37.1 11.9 1.99
including 175.6 187.6 12 1.77
Figure 03- La Reina Map – Location of Samples & Results
The sampling program covered an area with evidence of shallow artisanal historical mining activity. The
host rock is silicified rhyolite with intense structural fabric hosting stockworks and narrow vein systems.
The CSAMT survey results have indicated 2 shallow, low resistivity, anomalies in this target . Goldplay is
reopening the historical underground workings in the area for additional sampling.
Arenal Target
Trench From (m) To (m) Width (m) Au (g/t) Comment
Arenal 0 100 100 1.2 (1)-includes internal dilution
including 22.6 34.1 11.5 1.92
including 65 111.2 46.2 1.74
including 133.2 148.2 15 1.74
Figure 04- Arenal Map – Location of Samples & Results
At El Arenal there are multidirectional veins and stockwork system hosted by silicified rhyolites. There are
also a series of historical shallow shafts defining an area with a presence of intense gold mineralization in
the vicinity of the high-grade sampling zone.
Octavio Target
Trench From (m) To (m) Width (m) Au (g/t) Comment
Octavio 0 52 52 0.42 (1)-includes internal dilution
including 24 37 13 1.07
Octavio 0 20 20 1.33
Octavio 0 5 5 1.76
Figure 05- Octavio Map – Location of Samples & Results
The recent sampling results at the Octavio target, confirm the continuity of mineralized systems further
east, representing an opportunity for additional shallow drilling targets. The gold mineralization is
represented mainly by oxidized stockwork systems hosted by altered andesites.
These combined results define a consistent oxidized gold mineralized zone over 1000 meters along the
strike, supporting the exploration potential at the El Habal. The wide mineralization, together with the
common occurrence of high-grade bonanza grades and associated resistivity targets, encourages
Goldplay to continue with its surface and core drilling exploration program at the El Habal in the coming
months.
All intervals have been reported on an uncut base. The 2017 and 2018 surface trenching samples with
assays results above 10 g/t and 5g/t respectively have been re-assayed with metallic screen fire assay
with gravimetric finishing. In locations where the topography did not allow continuous sampling, a
secondary surface trenching was completed in the vicinity to provide good continuity on sampling line
intersecting the mineralized zone on bedrock outcrops.
Quality assurance/quality control
Trenching undertaken by Goldplay in 2017 - 2018 has been supervised by onsite personnel at the project
who rigorously collect and track samples, which are then sealed and shipped to Bureau Veritas and SGS
Minerals for analysis. SGS's and Bureau's quality system complies with the requirements for the
international standards ISO 17025 and ISO 9001. Analytical accuracy and precision are independently
controlled using blanks, control reference material and duplicate samples.
Marcio Fonseca, Goldplay's Chief Executive Officer, stated, "The Surface trenching results define a
consistent oxidized gold mineralization zone extending over 1000 meters with evidence of high grade
results together with a wide mineralized zone. This, together with the most recent ground geophysical
survey results, indicate attractive exploration potential at El Habal".
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 square kilometer exploration portfolio in the Rosario Mining District, Sinaloa,
Mexico. Goldplay currently focuses on exploration activities including drilling in progress at the El Habal
Project and planned resource update at the recently acquired advanced stage San Marcial Project.
The El Habal Project is a low sulphidation epithermal exploration-stage project with an ongoing core
drilling program. The1000 meter long oxidized gold mineralized zone outcrops along a series of rolling
hills with evidence of historical shallow underground mining. The El Habal Project is near the historical
Au-Ag Rosario Mine ("Rosario Mine"). The Rosario Mine reportedly operated for 250 years. Goldplay's
team has over 30 years' 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.
The San Marcial consists of an attractive near-surface high-grade silver, zinc and lead project with a
historical National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") (1) with
an immediate opportunity for resource expansion.
Resource Grade Contained Metal
Category Tonnes Ag (g/t) Zn (%) Pb (%) Ag M(oz) Zn M(lbs) Pb M (lbs)
Indicated 3,755,893 149.20 0.67 0.36 18.0 29.9 55.3
Inferred 3,075,403 44.21 0.51 0.29 4.4 19.5 34.7
(1)
The historical NI 43-101 resource estimate is based on a cut off of 30 g/tAg for open pit and 80 g/t Ag for underground resource
classification completed by Micon International Ltd. for Silvermex on November 5, 2008. The historical resource is based on
4884 meters of drilling in 30 core drill holes. A qualified person has not done sufficient work to verify and to classify the
historical estimate as current mineral resources, and the Company is not treating the historical estimate as current mineral
resources. Further work must be carried out to verify all historical information before a resource estimate is possible, and there
can be no assurance that when established, that any such resource would be economically recoverable.
The existing historical NI 43-101 resource estimation exhibits significant exploration upside as it only
comprises 30 drill holes completed up to November 2008. Additional 22 drill holes were completed post-
filing of historical NI 43-101, representing an immediate opportunity to update and expand the resources.
The historical NI 43-101 covers 600 m of a mineralized trend which is open along strike for an additional
3.5 km, supported by positive surface exploration results. The mineralization is an open down dip as most
of the historical drilling was completed only up to 250 m below the surface in the resource estimation
area. Historical preliminary metallurgical results from oxide and sulfide samples from San Marcial have
indicated column leach tests recoveries in the range of 80% for a 72-hour leach period and preliminary
flotation test work in drill core composite samples reporting recoveries in the range of 90%.
The mineralization at San Marcial is typical of the low sulphidation, epithermal systems hosted near the
contact of the Tertiary, Upper and Lower Volcanic units in the Sierra Madre Occidental Geologic
Province.
Along the 3.5 km mineralized trend, there are highly altered hydrothermal breccias, conglomerates, and
relatively fresh dacite porphyry intrusive. Faulting is an important structural feature related to the silver
gold zinc lead copper mineralization, and the intersection of east-west with northwest structures are
considered the most prospective areas for exploration at San Marcial.
There are two main mineralized zones (upper and lower), located in the center of the mineral concession
and both outcropping at surface. Both mineralized zones and associated host rocks exhibit fracture filling
and typical hydrothermal textures of epithermal deposits. There is local brecciation hosting mineralized
zones.
San Marcial exhibits significant exploration upside supported by historical regional exploration programs
completed by previous operators with the identification of 14 exploration targets like San Marcial inside
the 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.
Goldplay is providing the historical drill data and historical NI 43-101 for informational purposes
only. Goldplay has not completed any quality control assurance program to the historical drill data and NI
43-101. Although the Company believes that the work was completed by competent persons to the
standards of the day and the Company cautions the reader that the drill results are historical in nature
and have yet to be verified by the Company's "Qualified Person" under NI 43-101.
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 that 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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CNW 08:00e 05-JUN-18