Goldplay Reports Results from First Drill Program at Nava Target, Including >1,000 g/t Ag
Goldplay Reports Results from First Drill
Program at Nava Target, Including >1,000 g/t
Ag
VANCOUVER
,
Nov. 25, 2019
/CNW/ -
Goldplay Exploration Ltd. (TSXV: GPLY,
FRANKFURT
:
GPE, OTCQB: GLYXF) ("Goldplay" or the "Company")
is pleased to announce its maiden drilling
results at the Nava Gold Target ("Nava") within the Company's San Marcial Project ("San Marcial"),
Sinaloa, Mexico
. The drill program tested the new epithermal-style vein system encountered in the
Company's 2019 surface exploration near the west end of the 1.5 km long San Marcial mineralized
corridor (Figure 1). Four diamond drill holes were completed, two in each of the main vein prospects
exposed by artisanal workings (Figure 2). Assay results from the
Nava
diamond drill program are
shown in Table 1.
Table 1: Assay results from Nava Target drill holes
Drill Hole
From (m)
To (m)
Sample
Length (m)
Au Grade
(g/t)
Ag Grade
(g/t)
SM-19-02
138.00
139.00
1.00
0.05
354
including
138.00
138.15
0.15
0.20
1377
179.00
181.00
2.00
0.02
18
including
179.90
180.35
0.45
0.21
196
SM-19-03
NA
SM-19-05
16.10
20.20
4.10
0.38
3
22.05
23.00
0.95
2.35
1
29.75
33.50
3.75
0.50
4
45.05
47.35
2.30
0.42
1
including
47.25
47.35
0.10
8.94
5
62.90
63.90
1.00
0.74
1
SM-19-06
6.55
7.50
0.95
1.22
10
86.15
86.30
0.15
0.48
5
87.30
87.50
0.20
0.47
1
All numbers are rounded. Mineralized zones are calculated using minimum width of 0.1 m, allowing for maximum 1 m of internal waste, using cut-off grades of 0.2 g/t Au to
define the broad, mineralized zone. True widths can not be confidently estimated at this point. NA = No samples above 0.2 g/t Au cut-off.
Figure 1: The Nava Gold Target (CNW Group/Goldplay Exploration Ltd)
Goldplay President and CEO
Marcio Fonseca
commented
,
"We are pleased to report the
mineralized intercepts, including high grade silver, in the maiden drill program at San Marcial's
Nava Target. Goldplay's 2019 field studies mark the first time in approximately ten years that any
type of exploration has been carried out at the project. The encouraging results warrant further
exploration, advancing the Company's objective of resource expansion of San Marcial."
Highlights at the Nava Gold Target include:
In 2019, a series of surface trenches identified gold (Au) mineralized zones including intervals up
to
24 m
at 2.11 g/t Au
(see News Release
10 July 2019
). The recent drill results confirm the
presence of a continuous, well-defined mineralized zone down dip and along strike;
In 2019, the Company completed extensive (
25 m
x
25 m
) soil and rock sample grids, with
multi-element, portable XRF assaying on priority exploration areas, defining new drill targets. At
Nava
, XRF results for pathfinder elements such as lead, zinc and arsenic demonstrate positive
correlation to the recently discovered mineralized gold trend with additional anomalous zones
still to be drill tested (Figure 2);
Presence of narrow banded, colloform texture quartz veining, stockwork and breccias within the
Company's recent drilling correlated with surface and adit sampling results, (Figures 3 and 4),
supporting the presence of a continuous low sulphidation epithermal system, with opportunities
for additional exploration along strike and down dip.
Figure 2: The Nava Gold Target and Exploration Potential (CNW Group/Goldplay Exploration Ltd)
About
Nava
Nava
is located 1.5 km west of the San Marcial resource area (Figure 1) and approximately 1 km
west of the Faisanes drill discovery containing
1 m
at 204.6 g/t Au (see
News Release
30 July 2019
). Phase I drilling at the Nava Target was designed to test the lithological and structural controls of
the interpreted low sulphidation epithermal gold system, as well as the distribution of mineralization
in the vicinity of encouraging gold results from surface exploration earlier in the year, including a
channel sample of
24 m
at 2.11 g/t Au. The host rocks are similar to the suite of volcanic rocks
hosting the San Marcial silver deposit however, the mineralization is decidedly different, being
predominantly gold.
Goldplay's exploration of the Nava Gold Target focused on two hills with evidence of small-scale
artisanal mining activity and exposed quartz veins that returned visible gold in panned samples.
Recent surface exploration and drilling results support the continuity of the mineralized system down
dip and along strike, in addition to recent evidence of narrow high-grade Ag-Au mineralization
(Figures 3 and 4).
GEOLOGY
Goldplay commenced systematic exploration at the Nava Gold Target less than 12 months ago.
Results indicated the target had strong potential for the discovery of a low sulphidation epithermal
system. Recent drill results also indicate the presence of narrow high-grade (>1,000 g/t Ag) veins.
The main lithologies at
Nava
include: dacitic lapilli tuff, lithic lapilli tuff and lesser diorite dykes
intruding the volcanic package (Figures 3 and 4). Circular features are present, occasionally hosting
volcanic breccias.
Figure 3: Drill Section SM 19-02 and SM-19-06 at Nava (CNW Group/Goldplay Exploration Ltd)
The presence of artisanal workings (consisting of surface pits and two shallow horizontal shafts) on
top of two adjacent hills, drew initial attention to the target area. Additionally, panning of quartz vein
material returned small specks of visible gold.
The main controls on mineralization at
Nava
appear to be sub parallel (ENE-WSW-trending) sets of
quartz veinlets, tending to stockworks in places and locally breccias, in a low sulphidation epithermal
system. Encouragingly, the mineralization was found not to be confined to quartz veins but also in the
wall rock, resulting in broad mineralized zones.
The two drilled cross sections are shown in Figures 3 and 4 (below) and display localized intervals of
quartz veining, stockwork and also brecciation, within the four drill holes. Gold mineralization is
sporadic across these two cross sections.
Figure 4: Drill Section SM 19-03 and SM-19-05 at Nava (CNW Group/Goldplay Exploration Ltd)
Table 2: Nava Drill Hole Collar Location Details
Drill Hole
Target
East
(mE)
North
(mN)
Dip
Azimuth
Final Depth
(m)
SM-19-02
Nava
448,987
2,545,615
-50˚
350˚
293.5
SM-19-03
Nava
449,334
2,545,700
-50˚
340˚
150.0
SM-19-05
Nava
449,275
2,545,791
-50˚
160˚
65.0
SM-19-06
Nava
448,987
2,545,796
-48˚
200˚
100.0
The Company's maiden drill program at the San Marcial Project is currently being completed with
additional drilling at the Faisanes and Guacamayo targets, testing for potential NW and SE
extensions, respectively, to the San Marcial resource area.
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 at
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, bonanza-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 AgEq (indicated) + 11Moz AgEq (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 25-NOV-19