Goldplay Intercepts 77.5 m @ 0.43 g/t Au at El Habal
Goldplay Intercepts 77.5 m @ 0.43 g/t Au at El Habal
August 1, 2018, Vancouver, BC - Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF - the
“Company” or “Goldplay”) is pleased to announce initial results of four drill holes of the
Company’s first phase of its core drilling program, at its 100% -owned El Habal Project, Sinaloa,
Mexico. The program has successfully identified near -surface continuity of gold mineralization.
Four drill holes were completed at El Habal, totaling 1045.85 meters. Highlights include:
77.5 m @ 0.43 g/t Au in drill hole 18 EH-2
o Including 9.45m @ 2.05 g/t Au
15.4 m @ 1.35 g/t Au in drill hole 18 EH-1.
All drill intercepts are outlined in Table 1 (below).
Goldplay President and CEO Marcio Fonseca commented, “Goldplay’s objective is to define the
geometry and controls of mineralization at El Habal within the 6 km -long prospective corridor,
expanding gold mineralization both along strike and down dip. We are pleased with the
progress the Company has made towards advancing this goal. The next step will be a follow up
drill program”.
The drill intercepts have revealed wide gold mineralization hosted in a series of altered
rhyolites, andesites and intrusives. Th e mineralization represents a high -level gold system
hosted in a volcanic sequence with intrusive (granitoids) and related hydrothermal fluids. The
alteration zone on surface combined with a series of mineralized breccias, structures/fault
zones suggests p lacement at high -level, low -pressure brittle regime with hydrothermal fluids
occurring within multiple regional fault structures present in the 6km-long mineralized corridor.
The location of drill holes 18EH -1 to 18 EH -4 are shown in the figure below, in relation to
recently announced trench results (see news release June 5, 2018) and historical old workings.
Figure 1: Drill Hole Location Map
El Habal Drill Results Summary
The following table summarizes selected intercepts from four drill holes. Widths are considered
near true thickness and individual composites are disclose d as uncapped. Drilling tested gold
mineralization up to 100 meters bel ow the surface , demonstrating mineralization continuity
from the (previously reported) surface trenching results.
Table 1: Drill Results Summary
Hole ID From (m) To(m) Interval (m) Gold (g/t)
18-EH1 25 40.4 15.4 1.35
18-EH2 0.0 77.5 77.5 0.43
Including 67.6 77.5 9.45 2.05
18-EH3 No significant values
18-EH4 Not Completed due to technical problems – Due to presence of old workings
Geological Background El Habal Project
The El Habal Project is located in the Rosario Mining District, a historical mining district with
approximately 250 years of mining history. The Rosario Mining District has multiple mineral
occurrences and mines in operation, such as the Rosario Mine, Trin idad Mine (Marlin Gold
Mining Ltd), Plomosas Silver Project (First Majestic Silver Corp). The El Habal Project is near the
historical Au-Ag Rosario Mine (“Rosario Mine”). The El Habal Project has many key features
representing highly prospective regional structures with evidence of hosting multi -phase
intrusive events in a volcanic sequence. El Habal contains multiple mineral occurrences and a
rich history of shallow artisanal mining operations.
Mapping and recent drilling suggest the gold mineralization at El Habal was emplaced at a high
crustal level and is associated with intrusion -related hydrothermal fluids. Stockwork systems
mapped on surface, alteration zones, drill -confirmed mineralized breccias, structures and
regional fault zones suggest a multiphase intrusive related system. The wide structural zones
such as mapped along strike from 18-EH2 and 18-EH1, represent a target and model to support
exploration opportunities along strike and down dip.
El Habal Project Ongoing Exploration
A representation of cross sections hosting an intense stockwork system, brecciation and
multiphase intrusive units has been defined within the wider lower -grade intercepts (drill holes
18-EH2), as illustrated in Figures 4 below. Higher grade gold results represent zones of more
intensive brecciation and silicification. Drill results from these 2 holes have confirmed
previously reported trench results, providing valuable information to suppo rt ongoing
exploration. Further drilling will be required to determine continuity of the wide intersections
and high grades reported in this news release. The Company is also expanding surface sampling
along the 6 km prospective corridor in order to identify similar mineralization occurrences.
Figure 2: Cross Section Drill Hole 18EH-1
Figure 3: Cross Section Drill Hole 18EH-2
QA/QC Protocols
Thorough QA/QC protocols are followed at all sampling programs and assays completed by the
Company. Goldplay’ s management includes routine duplicates, blanks and standard samples in
assays lots for all surface samples and drill hole samples. The samples are submitted directly to
SGS Laboratory in Durango, Mexico for preparation and analysis. Analysis are performed using
fire assay method with atomic absorption spectrometry finish. Gold results over 5 g/t are
routinely rerun using gravimetric finish. Multielement analysis is performed using ICP-AES.
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.
To view cross sections and drill hole location map of current drill results in this news release, please
click the following link:
Drill Hole Location Map, El Habal
Cross Section Drill Holes-1
Cross Section Drill Holes-2
About Goldplay Exploration Ltd.
Goldplay owns a +250 square kilometer exploration portfolio in the 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 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 6 km long prospective corridor. The El Habal Project is located near
the historical gold-silver Rosario Mine (“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.
The San Marcial land package consists of 1,250 hectares, 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, zinc
and lead project for which a historical estimate has been previously disclosed. A National
Instrument 43 -101 – Standards of Disclosure for Mineral Projects (“NI 43 -101”) report is the
source of this “historical estimate”.
Historical Estimate 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
The historical NI 43 101 resource estimate is based on a cut off of 30 g/t Ag for open pit and 80
g/t Ag for underground resource classification completed by Micon International Ltd. for
Silvermex Resources Ltd (“Silvermex”) on November 5, ,2008. The histo rical resource is based
on 4,884 meters of drilling in 30 core drill holes completed by Silvermex and previous operators
over a strike length of 600 meters and vertical extent of 250 meters. 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 historic 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 NI 43 -101 was filed on SEDAR on November 21, 2008 under
the name of Silver Ore Mining Corporation the predecessor of Silvermex. Ag equivalen t ounces
(eq oz) is calculated from gpt data. AgEq g/t = Ag g/t + (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 p er %)). Ag price per oz (US$16.50), Pb price
per lb. ( US$0.95 ) and Zn price per lb. (US$1.15).
The existing historical NI 43 -101 resource estimation presents a significant exploration upside
as it only comprises 30 drill holes completed up to November 2 008. 22 additional drill holes
were completed post -filing of the NI 43 -101 report. The 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 open down dip as most of the previous drilling
only tested to 250 m below the surface of the resource estimate area. Preliminary metallurgical
results from oxide and sulfide samples from San Marcial have indicated column leach tests with
recovery 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, highly altered hydrothermal breccias, conglomerates, and relatively
fresh dacite porphyry intrusives have been identified. 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 epi thermal deposits. There is local brecciation hosting mineralized
zones.
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. Goldpl ay is providing th e
historical data and historical NI 43 -101 for informational purposes only. Goldplay has not
completed any quality control assurance programs on the historical drill data nor the NI 43-
101. The Company does believe the aforementioned 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 informat ion 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 un known
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, For Further Information:
P. Geo, President & CEO Contact: +1 (604) 202 31 55
Goldplay Exploration Ltd. Email: [email protected]
Website: www.goldplayexploration.com
999 West Hastings Street, Suite 900
Vancouver, British Columbia V6C 2W2
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.