silver

Posts, updates and videos about silver – updated automatically.

Goldplay Discovers New Gold Zone At San Marcial In Low

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that as a result of its ongoing surface exploration at the San Marcial Project, initial channel  samples indicate a new gold (Au) discovery the Nava Target. The new gold discovery is located approximately 1.5 kilometres to the west of the San Marcial silver NI 43 101 resource (see News Release dated 7 February 2019), within an area currently showing an extensive hydrothermal altered zone, 500 meters long x 100 m wide, hosting low sulphidation intensive quartz veining and stockwork mineralization..

Recent and historical artisanal tunnels in the Nava Zone were channel sampled by Goldplay, with assay results up to 10 grams per tonne (g/t) Au received from a set of sub-parallel quartz low sulphidation epithermal veins. Visible gold has been observed in panned quartz vein samples from some of the channel samples in the Nava Zone (Figure 1). The Nava Zone is one of the priority targets that was identified by Goldplay earlier this year (see News Release dated 18 January 2019) and is located at the western extent of the Faisanes-Nava structural trend (“Faisanes – Nava Corridor”) which leads from the San Marcial silver resource (Figure 2).

The Nava Zone consists of a prominent hill with historical artisanal workings, including numerous shallow pits. In addition to the pits, three old tunnels, that follow a series of sub parallel NE-SW trending quartz veins, were re-opened (Figure 3). Two of the tunnels have been worked recently by artisanal miners, extracting gold-rich quartz vein material. These two of the tunnels are on the west side of the hill (T-003 and T-004), located approximately 30 m apart, with evidence of not only quartz veining but also stockwork systems between them. The third tunnel (T-005) is on the east side of the hill approximately 160 m away, along the NE strike of the veins, with evidence of connection with T-004. Shallow pits are scattered in the area between the tunnels, demonstrating potential for definition of wide mineralized zones on surface.

Goldplay President and CEO Marcio Fonseca commented, “Over the past months Goldplay has actively explored the 1,250 ha of the San Marcial concession with soil, rock chip and channel sampling, identifying and testing targets that will add value to the San Marcial silver resource, by expanding or discovering new mineralized zones. High grade gold results with visible (panned) gold from epithermal quartz veins within artisanal tunnels in the Nava Zone provide encouragement for a gold mineralized low sulphidation epithermal system, just 1.5 km west of the high-grade hydrothermal breccia-hosted silver resource. The new Nava Zone gold discovery suggests that the San Marcial Project has potential to be a significant multi-commodity play, with proven occurrence of gold and silver mineralization together with series of old artisanal mine workings on the Faisanes – Nava Corridor. We are focused on additional sampling and trenching at Nava to define the extent and geometry of the gold mineralization, on surface, and identify targets to follow up with drilling.”

The Nava Zone consists of a set of NE trending mineralized quartz veins, as well as a recently discovered new zone of intense stockwork and associated alteration located approximately 300m to the west (Figure 3). The veins are interpreted to be in a low sulphidation regime and hosted within a porphyritic dacite and an andesitic tuff unit, in proximity to the contact with an underlying epiclastic volcanic package (Figure 4). The Nava Zone has no previous drilling.

Results range from 1.04 g/t up to 10.0 g/t Au from channel sampling across quartz vein material in the tunnels (Table 1 and Figure 4).

Channel samples from the Nava tunnels were collected with a rock saw, typically perpendicular to the strike of the major structures/veins being tested. The samples were sent to the SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico where they were analyzed for gold using fire assay, and multi-elements (including silver) using ICP. Results from the other elements analyzed in the laboratory process are currently being reviewed.

Follow up Exploration

The Company has placed a high priority on exploration activities in the Nava Zone following this recent new gold discovery. Current exploration activities include surface trenching to expose the mineralized veins as well as local quartz stockwork material (Figure 5), particularly in the main hill area in between trenches T-003 and T-004 on the west, and T-005 on the east side. This area has numerous historical surface pits. Geological mapping and additional channel sampling will be carried out to also test for extensions of the mineralization along strike to the NE and SW. This current exploration also includes the stockwork zone located 300m to the west of the tunnels (Figure 3). It is anticipated that the current activities will lead to definition of drill targets to test the depth continuity of the gold mineralization at Nava.

The Company continues to advance surface exploration at other targets on the San Marcial Project as identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, are yet to be drilled and are located in the vicinity of the NI 43 101  Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

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.

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 exploration focus includes surface exploration and drilling, to expand resources 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 project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019.

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.

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

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

 

 

 

 

Posted in featured_news | Tagged , , , , | Leave a comment

Mineralogy Studies Show Free Gold, Free Silver, Sulphide Gold and Silver, and Alloy Gold and Silver at the La Victoria Gold Silver Project, Ancash, Peru

Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“ELO” or the “Corporation”) is pleased to announce results of detailed mineral determination studies from representative rock samples collected from three mineralized sectors at the La Victoria Gold/Silver Project. The studies confirm free gold, free silver, sulphide gold and silver, and alloy gold and silver occur in a complex suite of sulphide mineralization at La Victoria, as suggested from drill data (see Press Release March 10, 2019).

A total of eighteen samples from Rufina, San Markito and Victoria sectors were studied using a variety of methods including; Polarizing and Scanning Electron Microscopy, Electron Microprobe analysis, X-ray Diffraction, Synchrotron X-ray Fluorescence (SXRF) and SXR Absorption Near Edge Structure.The samples were sent to the Department of Earth Sciences at Western University, London, Ontario, Canada. Studies were overseen by Department Director Dr. Neil Banerjee, and included in a Master’s Thesis by Ms. Kelsey Rozon.

As Ms. Rozon notes (2018, p83), “La Victoria also has some common minerals with nearby high-sulphidation epithermal deposits found at La Arena, Lagunas Norte, and Shahuindo including: arsenopyrite, chalcopyrite, covellite, enargite, pyrite and silica with alunite-dickite. Additional minerals that La Victoria has in common with nearby gold-bearing deposits include galena, jarosite, pyrophyllite, scorodite, sericite, sphalerite, and tetrahedrite.”

Rozon (2018, pp78-81) notes the positions of the samples used in these studies relative to an overprinting of a porphyry copper intrusion marked by the intensity and style of mineralization and alteration. Most of the data comes from the Rufina sector, for which a porphyry copper intrusive is evidenced in the core logs with pyrite and chalcopyrite and sporadic covellite. Rozon notes four separate positions to which the samples belong, including “marginal to a copper porphyry but below the lithocap [at both shallow and deep crustal levels]”; “upper portion of a porphyry copper core zone at a shallow crustal level”; and “upper portion of a porphyry copper deposit.”

Based on these insights, Eloro  is going to return to the core storage unit to study the diamond drill core for the types of alteration noted in Rozon (2018) in the context of the mapping works completed by Dr. Osvaldo Arce in 2016 (see News Release October 19, 2016).

Study Results

The Rufina sector samples showed sulphide veins to overprint at least two episodes of quartz veining in a source rock of quartz monzonite. Microscopic gold occurred with the sulphide veins near arsenopyrite and chalcopyrite (Rozon, 2019, p39). Electron microprobe testing revealed a variety of minerals, including electrum (a mix of gold and silver) found in scorodite (a hydrous iron arsenate from the oxidation of arsenopyrite). X-Ray Fluorescence (SXRF) analysis showed the presence of gold with common base metals and common crustal metals. The gold is dispersed in both arsenopyrite and scorodite.

The San Markito samples were selected and analysed to compare different intrusive phases. Granites and related intrusives were seen with phyllic alteration and advanced argillic alteration in quartz veins with small sulphide veins appearing as a cross-cutting stage. The electron microprobe revealed roughly the same suite of minerals as the Rufina samples, but that silver was in the mineral argentite, which was present as individual grains and within the nearby minerals scorodite and arsenopyrite.  Enargite, a classic indicator mineral for epithermal gold mineralization, was also noted in the samples.

The Victoria sector samples included four with quartz veins, two with sulphide veins, and two granite/monzogranite samples. Veins were seen with phyllic and advanced argillic alteration, indicating potential copper porphyry synergies. Gold was found in the sulphide veins, granular in character, and associated with arsenopyrite and chalcopyrite. The electron microprobe revealed a wide suite of gold and silver bearing minerals including; native gold, argentite, acanthite, argentojarosite, titanite, and tetrahedrite. Free gold is present within arsenopyrite and associated in proximity to other minor minerals. Rozon notes (2018, p52) that “the free gold is granular and microscopic, while the electrum is granular, fibrous, and microscopic”. An analysis of the gold/silver rations in electrum gave values of between 2 gold: 1 silver to 16 gold: 1 silver. The analysis notes the presence of maldonite, an alloy of gold and bismuth analogous to electrum, the alloy of gold and silver. The SXRF data confirmed that gold is associated with arsenopyrite and scorodite as in other samples.

The Synchrotron X-Ray Near-Edge Absorption study was completed on several samples where free gold had been identified in other tests in order to show the valence state of gold. If the gold has zero valence, it is native gold. Samples showed this to be conclusively the case at the Rufina and Victoria South Sectors; San Markito was not tested.

These studies demonstrate the occurrence of free gold and free silver in addition to sulphide hosted gold and silver as well as lesser amounts of alloyed gold and silver in mineralization at La Victoria.

Eloro CEO Mr. Tom Larsen noted, “These studies clearly reveal the variety of gold and silver at La Victoria and where it is located, including evidence for a copper porphyry. It is especially exciting to see free gold and free silver at La Victoria as well as the alloys with very high gold to silver contents. We are now going to take several specific high-gold and high-silver samples and complete grind size and liberation testing. Now that we know how the gold and silver occur in these samples, we can look at optimizing a recovery process.”

Eloro SVP Mining Mr. Jim Steel MBA P.Geo., said, “Other than minor occurrences of electrum and maldonite gold and silver do not occur in solid solution. We are cautiously optimistic that the pitted and fractured nature of the arsenopyrite and scorodite will allow the gold to be liberated at a coarse grind.”

Also, Dr. Bill Pearson, P.Geo. has stepped down from the position of President of Eloro Resources Ltd. The Corporation thanks Dr. Pearson and wishes him well.

Qualified Person

Jim Steel MBA P.Geo., a Qualified Person in the context of National Instrument 43-101, has read and approved the technical content of this News Release.

Cited Reference

Rozon, K. 2018. Geochemical Analysis of a Low-Sulphidation Epithermal Deposit on the La Victoria Property in the Ancash Department of the Republic of Peru. Unpublished Master’s Thesis, The Department of Earth Sciences, University of Western Ontario, London, Ontario, pp39-83.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns an 82% interest (EHR Resources Ltd 18%) in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine, with largely the same mineralogy in similar stratigraphy. The Property consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

For further information please contact Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSXV, nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Posted in featured_news | Tagged , , , , , | Leave a comment

Eloro Resources Intersects 0.62 g/t Gold over 59.9m in Reanalysis of 2017-2018 La Victoria Drilling Results

Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Company”) is pleased to announce drill results from the La Victoria Project diamond drill program that arise from a detailed in-house scientific analysis of the La Victoria Gold/Silver Project (“La Victoria”), upon which a two-phase diamond drilling project was recently completed.  The reanalysis was done as part of an internal QA/QC audit from 4,216m in 12 diamond drill holes. The audit is being done by Jim Steel, MBA, P.Geo., who is assuming the role of Eloro Senior VP Mining and Qualified Person (“QP”) for continued works on the La Victoria project and Mr. Alex Horvath, P.Eng., a QP in resource modelling and development who will assume the role of Chief Technical Advisor while continuing to serve as a Director for Eloro.

The Company believes that the results herein described are sufficiently compelling so as to consider additional exploration on the La Victoria project. To that end, the Company is proceeding with an internal resource modelling exercise of the reinterpreted data.

Results of Data Reanalysis

The highest grade sample taken from the La Victoria project assayed 63.8 g/t gold, 57.7 g/t silver, and 0.77% copper, with >1% arsenic (see News Release August 12, 2015). Hand samples showed a preponderance of arsenopyrite, which could be the source of the gold. A complete statistical analysis was done on the drill results and a stronger correlation was found between gold and arsenic than was found between gold and silver. No correlation was found between gold and iron or sulphur, which suggests pyrite is not mineralized with gold.

Plotting anomalous arsenopyrite ranges in the drill hole assay data shows that there are at least three principal mineralized bands at the Rufina West target that correlate between drill holes, having been confirmed by holes in both east and west directions. Data suggests a subvertical orientation to the zones, similar to the structural orientation of mineralized fractures seen in surface mapping and sampling on the Rufina West sector (see News Release April 4, 2018). Mineralization is dominantly found in hydrothermal breccias at La Victoria, as in the nearby Shahuindo Gold Deposit, owned by Pan American Silver Corp., where a similar arsenic/gold relationship defines part of the suite of mineralization.

Strongly anomalous arsenopyrite values correlate with enhanced gold values over a 109m vertical range, from approximately 3136m to approximately 3245m in the drill results. This is the same elevation range as the surface samples collected in 2015 and 2016 from the Rufina West mapping and sampling programs. Integration of these data suggest that this range is the primary mineralized zone (“boiling zone”), characteristic of epithermal gold deposits and targeted in the drill program.

The following tables of intersections are based on defined ranges of arsenopyrite content and show the elevations of each intersection, in bold if found within the target zone of 3136m to 3245m. The lower grade intersections further demonstrate the strong arsenopyrite-gold association and provide important data for vectoring into high grade zones. Data concerning drill holes are found in the original news releases, referenced in the tables.

Hole NoAu (g/t)From (m)To (m)Interval (m)Elevations (m)Originally Reported
ERU-010.5422.536.013.53312m-3321mNews Release 16 Jan 2018
ERU-010.3585.091.06.03197m-3201mNews Release 16 Jan 2018
ERU-020.1465.670.44.83284m-3287mNews Release 16 Jan 2018
ERU-020.62162.1222.059.93167m-3213mNews Release 16 Jan 2018

The 59.9m intersection in hole ERU-02 contains two adjacent high-arsenopyrite intervals.

Hole NoAu (g/t)From (m)To (m)Interval (m)Elevations (m)Originally Reported
ERU-030.6861.683.321.83235m-3250mNews Release 16 Jan 2018
ERU-030.5189.595.56.03264m-3269mNews Release 16 Jan 2018
ERU-041.60145.6152.67.03182m-3187mNews Release 16 Jan 2018
ERU-05Note 1 

ERU-03 was drilled to the east into an area with no knowledge of surface mineralization. It tested a geophysical anomaly which was explained by the same arsenopyrite/gold relationship within the same elevation range as seen in the western drill holes.

Note 1: ERU-05 was a short exploration hole drilled to test the same geophysical conductor as were ERU-01 and ERU-02. The only intersection was 0.25 g/t over 2.0m from 141.0m to 143.0m downhole.

Hole NoAu (g/t)From (m)To (m)Interval (m)Elevations (m)Originally Reported
ERU-060.16253.0256.74.03046m-3048mNews Release 6 Jun 2018
ERU-070.342.05.73.73362m-3364mNews Release 6 Jun 2018
ERU-070.2151.259.78.53320m-3326mNews Release 6 Jun 2018
ERU-070.2986.789.42.73298m-3299mNews Release 6 Jun 2018
ERU-070.35135.7140.75.03258m-3261mNews Release 6 Jun 2018
ERU-070.24235.2239.74.53182m-3185mNews Release 6 Jun 2018
ERU-070.40270.7275.76.03155m-3158mNews Release 6 Jun 2018

ERU-06 was drilled across the main body of Rufina surface mineralization and collared within the target stratigraphy. The interval noted corresponds vertically to a surface sample of 46.4 g/t gold over 0.3m taken in 2011 and a surface value of 20.4 g/t gold over 0.4m taken in 2010. Other than this interval there were several point values of elevated arsenopyrite with gold above 0.5 g/t.

ERU-07 and ERU-08 were reconnaissance exploration holes, drilled significantly stratigraphically higher than the other holes and directed into interbedded sediments and intrusives. The arsenopyrite/gold relationship was seen in several intersections in ERU-07 and with ERU-08 showing point values of gold above 0.2 g/t with higher calculated arsenopyrite values.

Hole NoAu (g/t)From (m)To (m)Interval (m)Elevations (m)Originally Reported
ERU-09A0.33149.8160.811.03171m-3179mNews Release 6 Jun 2018
ERU-09A0.41171.0173.82.83161m-3163mNews Release 6 Jun 2018
ERU-09A0.70208.8211.85.03132m-3133mNews Release 6 Jun 2018
ERU-09A0.34241.3244.33.03107m-3109mNews Release 6 Jun 2018
ERU-100.5399.0110.011.03188m-3195mNews Release 18 Aug 2018
ERU-100.33336.0339.03.03012m-3014mNews Release 18 Aug 2018
ERU-100.31366.0369.33.02989m-2992mNews Release 18 Aug 2018
ERU-110.5173.389.616.33150m-3160mNews Release 18 Aug 2018
ERU-120.31154.9161.76.83073m-3075mNews Release 18 Aug 2018

Eloro CEO Mr. Tom Larsen said, “It is very encouraging to see that the drill results show a continuous block of mineralization with gold values that may stand up to a block modelling exercise. Our reconnaissance drilling showed conclusively that there is a lot of potential at the La Victoria Gold/Silver Project. We are now going to step back and evaluate next steps while preparing for the San Markito target drill program.”

Eloro’s SVP Mining, Mr. Jim Steel, added, “We now know that one of the styles of gold mineralization is with arsenopyrite in discrete veins and that the greatest concentrations of gold are in three separate areas at Rufina. We will now go back through the sample database and select several representative gold-bearing units for initial metallurgical assessment, not just at Rufina but at all mineralized sectors that show high gold values.”

Qualified Person

Jim Steel, MBA, P.Geo., a Qualified Person in the context of National Instrument 43-101, has read and approved the technical content of this News Release.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver Corp.’s La Arena Gold Mine and Shahuindo Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

For further information please contact Thomas Larsen, Chairman and CEO of Eloro Resources Ltd. or Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSXV, nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Posted in featured_news | Tagged , , , , | Leave a comment

Goldplay Announces Positive Metallurgical Recoveries from Initial Test Work at San Marcial

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce initial metallurgical results from test work on the San Marcial Project in Sinaloa, Mexico. Unoptimized results demonstrate that the high-grade silver mineralization at San Marcial is amenable to standard cyanidation processing with recoveries ranging from 82% to 92% silver.

The metallurgical test program was planned using sample comminution and processing criteria similar to standard operations which use a CCD-Merrill Crowe processing facility. The metallurgical test was carried out with 146 kg of drill core sample material, comprised of Breccia and Stockwork mineralization from the recently announced resource area (see News Release dated 7 February 2019). The samples also represent oxide, transition and sulphide zones distributed along the 500 m length of the resource, as well as down dip. Based on the high recoveries and amenability for a standard CCD–Merrill Crowe processing flowsheet, the Company has planned further metallurgical test work in 2019.

Goldplay President and CEO Marcio Fonseca commented, “These excellent metallurgical results represent another milestone completed at the San Marcial Silver Project, increasing the significance of this deposit as an emerging high grade potential open pit development with a standard leaching metallurgical flow sheet. The preliminary 96 hour bottle roll test work, encourage the company to pursue further metallurgical test work in 2019 with the objective to obtain more detailed information to support future engineering studies and further optimize the results”.

This initial metallurgical test work was completed by Base Metallurgical Laboratories (“Basemet”) in Kamloops, BC, Canada, with the following program:

  • 74 drill core samples selected at a wide range of locations inside the mineralized zone, at different elevations and coordinates, representing the oxide, transition and sulphide mineralized material, with a total of 146 kg, were delivered to Basemet.
  • Each group of samples was composited according to its location in the oxide, transition and sulphide zone, respectively, with test work carried out individually for each composite zone sample.
  • Comminution, mineralogy and preliminary leach tests were completed for all three composite samples.
  • Flotation optimization tests to investigate the production of a lead and zinc concentrate and settling tests have not been completed.
  • Optimized leach tests are currently ongoing.

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 sq. km exploration portfolio in the historical 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 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 project for which a NI 43-101 resource estimate has recently been disclosed (see News Release dated 7 February 2019).

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.

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

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

Posted in featured_news | Tagged , , , , , | Leave a comment

Q&A on Bayhorse First Silver Pour

The 37 ounce historic first pour is the first of many. What is in the pipeline right now and what can shareholders expect over the next few months?

Mineral Solutions is currently identifying the right particle size of the rock to get maximum recovery of the silver. They also want to do a combination of flotation and gravity work to get the highest concentrate grade to process through to refining, to achieve at least 98% plus recovery.

As we determine the exact grind particle size, we will change the configuration of the crushing grinding circuit to suit. Getting it right the first time is the difference between making it or breaking it, and many mines have had costly overruns by not getting this stage right. Just as we have had lots of very talented people get the mining right, we have extremely talented people doing the processing/refining stage. Better to be patient. This will not be done overnight.

We are looking to do a vertical integration of all the stages through to the final refining .9999 fine, or four nines. For comparison, LBMA good delivery bars are +/- 1,000 ounces and are only .999 fine, or three nines.

Due to the nuclear winter in the markets this past eight months that starved everyone of working capital, including Bayhorse, we did not get to the high-grade zones until late September. Which is why we are late getting all this work done. Mines take money before they make money.

Going forward,  Apex Geoscience will conduct the geological mapping and decide what we will mine first. While that is happening, we will put a new working drift into the Big Dog zone to enable bulk mining from two working faces, the Goldilocks and the Big Dog zones.

At the same time, subject to financing, of course, we will complete rearranging the primary and secondary crushing circuits, to speed them up and reduce identified bottlenecks. By the time that is finished, Minerals should have finished their work, and we should be well underway mining, processing and refining.

Does the Mineral Solution process allow the recovery of other metals in the Bayhorse Rock. What are those metals?

The Bayhorse mineralization is a polymetallic deposit, mainly Tetrahedrite, that is copper/silver, but also carries lead, zinc, and antimony as the minor metals. One of the problems with any refining process, is how to separate these minerals cost effectively. For Bayhorse mineralization, silver and copper are the primary metals and to refine them the rest have to be suppressed in the concentration stage.

This is why so many small mines have problems getting their concentrate to market. Smelters and refiners have almost disappeared in North America, with most now offshore. Every smelter has a primary metal that they process. For example, the Trail smelter primarily does zinc, with lead and silver. It does not do copper. Others do copper, silver, and gold, but not lead, zinc, and antimony. So, they either won’t take the ore, or charge an arm and a leg to the mine to get rid of what they call, “deleterious metals” that interfere with their recovery process.

So, we will probably get copper along with the silver, and try to defray the cost of getting rid of the lead, zinc, and antimony that will cause problems in the refining stage.

In terms of mining, have you identified a reasonable quantity of high-grade rock? What sorts of grades are you looking at and how much of that rock have you identified?

While we have identified what we believe is a reasonable quantity of high grade, we are leaving it up to Apex Geoscience to determine the tonnage and what the mining grades will be and guide the miners to get the most out of the mine. If you have a one-foot thick zone of 300 ounces a ton, you cannot mine that narrow, so it will have to be averaged over the actual mining width, that could be four or five feet, so that brings the average grade down. Mind you, the ore-sorter takes care of a lot of that waste, but waste still has to be mined to get the good stuff.

The material we sent to Minerals was averaging 300 oz per ton silver. This is without sorting. Straight from the mine face to Minerals. That gives an indication of the very high grades in the mine, and why Apex was able to establish the average 21.65 ounces per ton in the 43-101.

The miner’s adage, is drift into the high grade as narrow as possible and get the high grade to pay off as many of the upfront costs as possible, then when backing out, slab off the lower grades and leave as little behind as practicable.

Is your current Private Placement still open for subscription?

Yes, it is. Mining costs money, and to get to where we have positive cash flow we need additional funding.

The PP is a 10 cent share and a 2 year 15 cent warrant. We are already filling up the second tranche. Anyone wants to participate, email us at company@bayhorsesilver.com

Will you be announcing new pours with recovery rates as they occur?

Yes, we will. Minerals is being very careful in evaluating the silver recovery, just as we have been very cautious in everything we have done so far. Our goal is to get 98% plus recovery. The 1984 mining program was really concerned about recovery rates, as they were not up to their expectations.  That is why we are leaving no stone unturned in identifying the right crush/milling particle size, for flotation and leaching. The recovery numbers will be variable at first until we get the process fine-tuned, but we are encouraged by the preliminary results.

What is Bayhorse’s time line to commercial production and can Mineral Solutions scale to meet that production?

That is what the next couple of months are about. Minerals getting their part right, and telling us what we need to do to give them the right stuff, so we get our part right. This should all happen concurrently during this time. We will gradually ramp up to full production over the next few months. Hiccups will occur, but we have talented teams to take care of them.

At this point, what is the estimated all in cash cost per ounce of silver from the Bayhorse mine using the Mineral Solutions process.

Ah! That is the 64 dollar question. We have our internal numbers based upon the last two years of underground operations, and have put in a hefty number for the processing refining stage. We are targeting an all-in cash cost of US$10.00 per ounce, or less, but it will probably take 12 months of operations before we can say for sure what our exact costs are. Mind you, some of our costs should be lower, because we do not have to ship containers of concentrate to China, or suffer the low smelter payouts. Then there is VAT that does not get charged, nor potential tariffs.  All in all, we are much better off with Mineral Solutions.

We believe the mine will be profitable, or we would not be doing it, but ask me again in six months.

 

 

Posted in update | Tagged , , , | Leave a comment

First Silver From Bayhorse

It’s not everyday that a friend and client pours their first silver. Bayhorse Silver (V.BHS) just did.

V.BHS, Bayhorse Silver, silver, oregon

Update: A picture is worth a 1000 words but here is the press release to accompany the above picture.

Posted in update | Tagged , , , | Leave a comment

Goldplay Discovers High-Grade Silver Zone in the Faisanes Target – 56 Metres @ 196 Ppm Silver, Including 15 Metres @ 472 Ppm Silver

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce high grade silver (Ag) results from a trench extending silver mineralization from the resource area to the Faisanes target (Figure 1) at the San Marcial Project, located in Sinaloa, Mexico. Goldplay recently announced a NI 43-101 resource for the San Marcial Project (see News Release dated 7 February 2019) and is undertaking exploration on the remainder of the concession to identify additional resources along the 3.5 km mineralized trend.

The SMtr-001 trench is located in the northwest of the San Marcial Resource Area, in the Faisanes target (Figure 2), and it has a length of 113 metres, extending the mineralized zone from the resource area on the footwall of the deposit. Faisanes is a new target that was identified by Goldplay during recent surface exploration activities (see News Release dated 18 January 2019).

Channel sampling of the trench has identified a broad area of mineralization with a true thickness of approximately 56 metres, and the mineralization has a similar orientation to the adjacent resource, trending northwesterly, parallel to the high-grade Breccia zone in the resource area. This 56 m broad zone contains an average grade of 196 g/t Ag (Table 1, Figure 3). Within that broad zone of silver mineralization, two separate high-grade zones exist, representing potential open pit amenable zones for future drilling. The first zone is estimated to have a true thickness of 15 m at 472 g/t Ag and the second zone is estimated to have a true thickness of 14.6 m at 211 g/t Ag.

V.GPLY, Goldplay Exploration

Goldplay President and CEO Marcio Fonseca commented, “These excellent silver results from trench SMtr-001 are highly encouraging as Goldplay strives to expand the silver resource at the San Marcial Project. The high-grade silver results suggest that mineralization from the resource area may be continuous into the adjacent Faisanes area, with definition of parallel zones, which would validate discoveries of new mineralization encountered in the footwall of the deposit when logging and assaying historical drill holes in the second half of 2018. The trench displays significant widths of high-grade silver mineralization at surface, supporting the upside potential to expand the resources in the near future. We are currently planning additional trenches to follow up the mineralization identified at Faisanes along strike to the west-northwest.

Channel samples from SMtr-001 were collected with a rock saw, typically on 1 m continuous intervals, unless prevented by access. The samples were sent to the SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico where they were analyzed for gold using fire assay, and multi-elements (including silver) using ICP. Results from the other elements analyzed in the laboratory process are currently being reviewed.


The San Marcial Mineral Resource has been estimated along a 500 m strike length which makes up part of a 3.5 km long mineralized zone, supporting potential for resource expansion.

The Company continues to advance surface exploration at the San Marcial Project, focusing on the five targets recently identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, are yet to be drilled and are located in the vicinity of the Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

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.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical 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 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 project for which a historical resource estimate has been previously disclosed.

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.

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

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

Posted in featured_news | Tagged , , , , | Leave a comment

Dirk Diggler on Goldplay

It must be Goldplay week on mining media. First I write and article and then Dirk Diggler does an extensive backgrounder at EquityGuru.

Go read the whole thing. Dirk and I agree that Marcio Fonseca has an amazing resume.

Posted in update | Tagged , , , | Leave a comment

Precious Metals Near Key Turning Point – goldfinger

Writing at CEO.CA goldfinger runs through some technical analysis of the precious metals markets,

“The right shoulder of this potential head & shoulders bottom hasn’t fully formed yet. But if it does, and the gold/SPX ratio eventually breaks the neckline near .52, it would send a powerful signal that a turn is at hand and one should probably raise exposure to precious metals and mining shares.”

He’s not calling an upswing quite yet but he is pointing to inflection points on the charts where that upswing might start.

goldfinger is always a good read.

Posted in quick | Tagged , , | Leave a comment

Goldplay announces its maiden mineral resource, containing 36 million oz AgEq (indicated) and 11 million oz AgEq (inferred), at the San Marcial Project

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce the completion of an independent NI 43-101 mineral resource estimation (“Mineral Resource”), for the San Marcial Project, located in Sinaloa, Mexico. Goldplay’s maiden San Marcial Mineral Resource is a substantial increase from the historical resource completed by Silvermex Resources Inc. in 2008 (“Historical Resource”)1 and reported by Goldplay on 18 April 2018.

Figure 1 Location Breccia and Stockwork Zone in the San Marcial Resource Area
Figure 2 San Marcial – Location of Resource Area and New Targets Inside Concession

The Mineral Resource consists of 36 million ounces (“Moz”) of silver equivalent (“AgEq”)2 at an average grade of 147 grams per tonne (“gpt”) AgEq in the Indicated category and an additional 11 Moz AgEq at an average grade of 99 gpt AgEq in the Inferred category, using a 30 gpt AgEq cut off for open pit and 80 gpt AgEq for underground resource classification completed by WSP Canada Inc. on February 07, 2019. The Mineral Resource includes 22 core drill holes (assayed during 2018) in addition to the 30 core drill holes that were used to estimate the Historical Resource in 2008.

Highlights of the Mineral Resource (Table 1) and comparisons with the Historical Resource include:

  • A shallow, high-grade Ag core zone (“Breccia Zone”), up to 40 m in thickness (Figure 1). It represents 3.0 million tonnes at an average grade of 239 gpt AgEq, 200 gpt Ag, equivalent to 23 Moz AgEq and 19 Moz Ag, respectively (Table 2)
  • The Breccia Zone represents 63% of the Indicated Resource category
  • A 59% increase in Ag in the Indicated category compared to the Historical Resource
  • A 126% increase in Ag in the Inferred category
  • A 57% increase in AgEq in the Indicated category
  • A 44% increase in AgEq in the Inferred category
  • A 103% increase in Indicated tonnes
  • 98% of the 36 Moz AgEq Indicated Resource is potentially mineable by open pit
  • A 56% increase in Zn and a 77% increase in Pb in the Indicated category
  • A broad peripheral mineralized zone (“Stockwork Zone”) (Figure 1)
  • Increased continuity of the mineralization along strike as well as down-dip, delineating a continuous ore zone along the 500 m strike. Both the Breccia and surrounding Stockwork Zones outcrop at surface. Significant surface exposures of the mineralization support the potential for future definition of an open pit amenable Ag-Zn-Pb mining project.

Goldplay President and CEO Marcio Fonseca commented, “The completion of our maiden Mineral Resource on the San Marcial Project is a major milestone for Goldplay We have achieved a significant increase in the contained ounces of both Ag and AgEq. The Mineral Resource provides a strong foundation to realize the full potential of the San Marcial Project. We are progressing with detailed, systematic exploration of the under-explored additional 3.5 km of mineralized trend. Recent surface exploration results have already confirmed new exploration targets in the vicinity of the mineral resource (Figure 2), representing future upside opportunity for resource expansion in 2019. The significant increase in the Mineral Resource including delineation of a high-grade shallow Breccia Zone (Figure 1), represents an attractive target amenable for potential open pit development, and is open along strike as well as down dip, given most of the core drilling to date has only tested down to 250 m below the surface. Goldplay congratulates its technical team for achieving an impressive increase in the Mineral Resource at San Marcial, when compared to the Historical Resource1 (see: http://goldplayexploration.com/wp-content/uploads/2019/02/GOLDPLAY-NewRel-April18th2018Final.pdf)

Goldplay retained the services of WSP Canada Inc. to complete the 3-D modeling and independent NI 43-101 Mineral Resource estimation for the San Marcial Project. In doing so, the Company has delivered a material increase in the tonnage, grades and ounces of Ag in the Mineral Resource with the addition of 22 holes to the previous model, for a total of 52 drill holes.

_______________________

1 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 on November 5, 2008. The historical resource is based on 4,884 m of drilling in 30 core drill holes completed by Silvermex and previous operators over a strike length of 500 m and vertical extent of 250 m. 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.

The increased Mineral Resource in comparison with the Historical Resource is summarized as follows:

  • Total silver equivalent ounces, Indicated Resources, increased 57% to 36 million ounces.
  • Total silver ounces, Indicated Resources, increased 59% to 29 million ounces.

The drill holes are spaced on average 45 m between sections, along an initial 500 m long mineralized zone, and drilled to a maximum depth of 250 m. The Mineral Resource was estimated by ordinary Kriging using Surpac block modelling software in multiple passes in 3 m by 3 m by 3 m blocks. Grade estimates for all elements were based on 3 m composited assay data. Capping levels were set as follows:

In order to define a reasonable prospect of economic extraction, the Mineral Resource was contained within a Whittle optimized pit shell that uses an average Ag price of US$18.5/oz, Zn price of US$1/lb and Pb price of US$0.82/lb. These metal prices are based on a comprehensive survey of commodities forecasts among most prominent commodity experts. The assumed recoveries are based on average recoveries of 89% Ag, 80% Zn and 95% Pb. Operating costs are based on similar existing or nearby operations. For the portion of the Mineral Resource not deemed amenable to economic open pit extraction, the Company has assessed the reasonable prospect of economic extraction in an underground context.

The San Marcial Mineral Resource has been estimated along a 500 m strike length which makes up part of a 3.5 km long mineralized zone, supporting potential for resource expansion (Figure1).

As recently announced, the Company continues to advance surface exploration at the San Marcial Project, focusing on five targets recently identified by soil and rock geochemistry (News Release dated 18 January 2019). These targets are yet to be drilled and are located in the vicinity of the Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

The Mineral Resource estimated for each resource category – Indicated or Inferred – is displayed in Table 2, at different AgEq gpt cut off grades. The Effective date for the mineral resource is February 07th, 2019. A Technical Report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed on SEDAR at www.sedar.com within 45 days of this release.

 

The Mineral Resource has been estimated by Marcelo Filipov, P.Geo of WSP Canada Inc. and Todd McCracken, P.Geo of WSP Canada Inc. Both Mr. Filipov and Mr. McCracken are Qualified Persons as defined by National Instrument 43-101. The Mineral Resource has been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves, adopted by CIM council, as amended. Mr. Filipov and Mr. McCracken have read and approved the contents of this press release as it pertains to the disclosed Mineral Resource estimate.

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. Additional sampling and re-sampling of existing pulps and rejects were conducted to assess the variability of grades in the mineralized zone. A WSP Canada Inc. independent qualified person visited the San Marcial Project from Nov 12th to Nov 16th, 2018. Independent sampling was completed in core samples and surface samples for validation purposes. WSP Canada Inc. has reviewed the QA/QC protocols and procedures implemented by Goldplay and results, believing that the database is reliable for estimating the Mineral Resource.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical 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 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 project for which a historical resource estimate has been previously disclosed.

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.

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

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

Posted in featured_news | Tagged , , , , , , | Leave a comment