Goldplay's Nava Gold Discovery Continues to Grow as New Surface Continuous Channel Sampling Returns Wide Gold Intersection of 24
Goldplay's Nava Gold Discovery Continues to
Grow as New Surface Continuous Channel
Sampling Returns Wide Gold Intersection of 24
m at 2.1 g/t Au, Including 5 m @ 4.0 g/t Au
VANCOUVER
,
July 10, 2019
/CNW/ -
Goldplay Exploration Ltd. (TSXV: GPLY,
FRANKFURT
:
GPE, OTCQB: GLYXF) ("Goldplay" or the "Company")
is pleased to announce that a broad high
grade gold (Au) zone has been encountered, on surface, at the Nava Target,
300 m
along strike,
west of the original gold bearing
Nava
trenches at the San Marcial Project,
Sinaloa, Mexico
, as
recently announced (
see News Release dated
16 April 2019
).
High grade gold results of up to 10 g/t Au from previous channel sampling in shallow historical
underground tunnels at the
Nava
discovery have been followed up by high grade gold in surface
channel sampling along strike, up to 9 g/t Au, suggesting the possibility of a significant expansion to
the size of the Nava Target and defining an immediate drilling target.
The
Nava
gold discovery is located approximately 1.5 kilometres to the west (Figure 1) of the San
Marcial NI 43-101 resource (
see News Release dated
7 February 2019
), supporting an attractive
gold-silver mineralized corridor for discoveries and potential resource expansion within the San
Marcial Project. The
Nava
discovery is a wide zone with pervasive hydrothermal alteration
(silicification + hematite), at least 500 meters long x
100 m
wide (Figure 2), hosting banded quartz
veining and stockwork mineralization.
A broad
42 m
(
31 m
true thickness) wide gold mineralized zone was intersected in the latest surface
channel sampling program at trench SMtr-020 – including
24 m
at 2.1 g/t Au,
5 m
at 4.0 g/t Au and
an additional
5m
zone at 3.5 g/t Au (Table 1). Figure 3 displays the continuity and consistency of
gold grades, up to 9 g/t Au, within the main
24 m
interval of the channel and a lower grade halo
immediately on the footwall of the mineralize zone.
The discovery of this new gold mineralized channel opens up the possibility of connecting the
mineralized zone previously discovered at SMtr-003 with SMtr-020 with still significant exploration
potential for discovery of new gold mineralization along the strike in the
Nava
target.
Goldplay President and CEO
Marcio Fonseca
commented
,
"A high grade gold zone containing
24 m
at 2.11 g/t Au, has provided the Company with encouragement that the
Nava
target could
host a significant body of gold mineralization in a low sulphidation epithermal system. Located
west of the previous
Nava
trenches, it opens up a large unexplored area between the trenches and
along strike for additional exploration potential for new discoveries in the San Marcial Project. The
drilling program in progress will test below these two
Nava
target areas for depth continuity and
additional understanding of the mineralized system."
Table 1 Nava Zone – Gold results from Trench SMtr-020
Trench
From (m)
To (m)
Sample Length (m)
True Thickness (m)
Grade Au (g/t)
Cut-off grade Au (g/t)
SMtr-020
7.0
8.0
1.0
*
0.4
0.1
12.0
16.0
4.0
*
0.2
0.1
20.0
28.0
8.0
*
0.2
0.1
49.0
102.0
53.0
*
Not sampled
and
124.0
148.0
24.0
17.7
2.1
0.1
including
124.0
129.0
5.0
3.7
4.0
2.0
and
132.0
133.0
1.0
0.8
5.5
2.0
and
143.0
148.0
5.0
3.7
3.5
2.0
148.0
166.0
18.0
13.3
0.2
0.1
Channel lengths are measured along each trench commencing at the northern end. True thickness
from
120m
to end of trench estimated based on interpreted orientation of host geology. All
numbers are rounded. Mineralized zones are calculated allowing for maximum
2 m
of internal
waste, using cut-off grades of 0.1 g/t to define the broad, mineralized zone and 0.5g/t for the wide
gold intersection of
24 m
@ 2.1 g/t Au
Figure 1 Nava - Location to the west of the San Marcial Resource and the Faisanes Target (CNW
Group/Goldplay Exploration Ltd)
The Nava Zone consists of a set of NE trending gold mineralized epithermal quartz veins, as well as
a zone of intense stockwork. The veins are interpreted to be in a low sulphidation regime and hosted
within a porphyritic dacite and a lapilli tuff unit, in proximity to the contact between lapilli tuff and
porphyritic dacite package (Figure 4). The most recent geological exploration in the San Marcial
project are supporting the interpretation of possible dacitic dome-style mineralization in a typical low
sulfidation epithermal system. The Nava Zone has no previous drilling.
As recently reported (
see News Release dated
16 May 2019
), Goldplay is progressing diamond
drilling program at its San Marcial Project, including not only drilling in the vicinities of the resource
area, aiming resource expansion, but also in the new discovered exploration targets. The company
has planned two shallow diamond drill holes at
Nava
(Figure 2) to test, firstly below the high grade
SMtr-020 trench and, secondly, to test depth extensions below the eastern zone which consists of
mineralized trenches SMtr-002 and SMtr-003, and underground tunnels with grades previously
reported up to 10 g/t Au.
Figure 4 shows a cross section of the first proposed drill hole at
Nava
and the interpreted extension
of the mineralization below the SMtr-020 high grade gold trench, which Goldplay will drill test at a
vertical depth of approximately
150 m
.
Figure 2 Nava Zone – Trench Locations and Exploration Potential (CNW Group/Goldplay Exploration
Ltd)
Figure 3 Nava Zone – High Grade Gold Results – Channel SMtr-020 (CNW Group/Goldplay
Exploration Ltd)
Figure 4 Nava Zone – Proposed Drill Section Testing High Grade Gold Zone at SMtr-020 (CNW
Group/Goldplay Exploration Ltd)
The Company has placed a high priority on exploration activities at
Nava
following this gold discovery
supported by
500 m
strike length of gold mineralization associated with a pervasive alteration and
intensive stockwork system. This defines a potential open pit target for future drilling and resource
definition.
Geological mapping and additional surface channel sampling will be carried out to also test for
extensions of the mineralization along strike to the ENE and WSW. The main objective is to define
potential links with other targets to the north of
Nava
(3), such as Chachalaca (9) and Micuines (8)
(Figure 5), which defines an exploration corridor of at least 2.5 km along the strike. The Company
continues to advance surface exploration at other targets at the San Marcial Project as identified by
soil and rock sampling in the exploration program completed in the first half of 2019.
Figure 5 San Marcial Targets Including Nava and Chachalaca – Pb in Soil Geochemistry (CNW
Group/Goldplay Exploration Ltd)
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
, a subsidiary of SGS Canada Inc, for sample preparation and assaying.
About Goldplay Exploration Ltd
.
Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District,
Sinaloa, Mexico
. Goldplay's current focus includes resource expansion and exploration aiming new
gold and silver discoveries at the San Marcial Project, as well as a 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
open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019.
It is a low risk resource development stage project, fully permitted for all exploration activities and
with support and authorization by local communities to carry out all necessary work on the project.
San Marcial exhibits significant exploration upside supported by regional exploration programs
completed by previous operators who identified 14 exploration targets 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, with field and sampling evidence of a highly prospective geological environment
for gold and silver discoveries.
The El Habal Project is a drilling stage project. 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.
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 10-JUL-19