silver

Posts, updates and videos about silver – updated automatically.

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.

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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/

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Goldplay’s Marcio Fonseca Interviewed

Here is a good interview with Goldplay CEO Marcio Fonseca:

 

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Goldplay Update

We alerted you to the Goldplay (V.GPLY) Webinar which took place today. I attended and Marcio Fonseca and Trevor Woolfe gave an excellent presentation.

The key take away from the Webinar is that Goldplay plans to release a 43-101 compliant resource estimate on its work at San Marcial in Mexico. The company has drilled a 500 meter section of a 3.5 kilometer zone and has had very encouraging results. Now they are ready to put those results into a maiden resource estimate.

I spoke briefly with Fonseca and, while he had to be careful not to let the resource cat out of the bag, he said, “We’ve used this area as a test. We’ve learned from it. Now when we see anomalies along the 3.5 kilometers we know what we are looking at.”

Fonseca is driving ahead towards a PEA based on a pitable resource.

To reach a maiden resource estimate only nine months into the project is very significant. It suggests that there is an interesting and highly prospective geology. But it also very strongly confirms Goldplay’s exploration competence.

Fonseca, as well as being a geologist, put in ten years as an analyst with an investment bank. He knows what a mine looks like geologically but he also understands the economics of the mining world.

Forseca summed it all up at the end of our call, “It’s a business.”

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Heads Up: Goldplay Webinar

Goldplay Exploration is hosting a webinar on its silver prospects and exploration in Mexico:

Tues, Jan 29, 4:05 PM EST”

Tue, Jan 29, 2019 1:05 PM – 2:05 PM PST

Pre-Register at https://register.gotowebinar.com/register/5686053311190797314

Marcio Fonseca and his exploration team are finding significant silver intercepts, near surface, in a well known silver/gold zone.

Should be an interesting Webinar.

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Goldplay Outlines Five New Exploration Targets at the San Marcial Project in Mexico

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that the exploratory program carried out in the December quarter of 2018 at the San Marcial Project, located in the Rosario Mining District, Sinaloa, Mexico, has expanded the Ag-Zn-Pb-Au mineralized trend beyond the historic NI 43-101 resource area (“historic resource”), with five new exploration targets identified.

The Company continues to advance the exploration program to refine the knowledge of these targets, aiming at a preliminary drilling program in 2019.

The December quarter exploration program at San Marcial included soil and rock chip sampling as well as geological mapping along the 3.5 km mineralized trend. The five newly identified targets are located in the vicinity of the historic resource (Figure 1). The Company is in the process of finalizing a current resource estimation after completing assaying of 22 additional core drill holes in 2018. The company expects completion of the resource estimation in January 2019.

The 12.5 km2 San Marcial project is located 5.5 km south of the Plomosas mine and is easily accessible by paved highways and dirt roads. Since consolidating a large portfolio of concessions, consisting of 250 km2 in the historical Rosario Mining District adjacent to other silver and gold producers, Goldplay has become one of the largest concession holders in the region.

Goldplay President and CEO Marcio Fonseca commented, “The San Marcial Project is one of Goldplay’s top prospects in the Rosario Mining District and we continue to be very encouraged by the upside potential for expansion of the deposit. The exploration results on the 3.5 km mineralized trend, in the vicinity of the historic resource, show high quality targets delineated by the soil and rock sampling program. The 250 years of historical silver and gold production in the region, with several multi-million ounce historic silver mines nearby, support the exploration potential for new discoveries on the under-explored San Marcial concession.

During the second half of 2018, the Company’s San Marcial exploration program included the following field activities:

  • Soil and rock sampling concentrated on areas with field evidence of epithermal alteration and strong structural settings, similar to the geological setting of the historic resource.
  • Goldplay completed an initial 18 north-south soil grid lines, with preliminary anomalies encountered on multiple lines, including zinc, lead and other indicator elements (Figure 1) which have proven important for targeting of the San Marcial silver deposit. Each of the anomalies was followed up by infill soil lines.
  • Five new targets, named Faisanes, Cabañas, Nava, Pedregal and Chachalaca (Figure 2) have been prioritized for follow up exploration and detailed geological mapping in the first half of 2019.
  • The company reopened shallow historical underground workings for detailed structural mapping and sampling.
  • Detailed interpretation and analysis of the current exploration results are underway to confirm targets for drilling in 2019. Drill permits are already approved for the San Marcial Project (See News Release dated 18 October 2018).

The soil sampling program consisted of 1,374 samples. The samples were initially collected from 18 north-south lines on a 100 m x 25 m grid. Samples were then securely transported to the Company’s Rosario headquarters, oven dried and analyzed by NITON XL3t 955 portable XRF equipment for 33 elements. Results revealed anomalous values in zinc, lead and copper, as well as other elements. These elements have all shown to be important co-products in the San Marcial silver deposit.

Five zones of anomalous geochemistry were identified in the NW, SE and immediately adjacent to the historic resource – named Faisanes, Cabañas, Nava, Pedregal and Chachalaca. The distribution of zinc in soils provides significant encouragement, with anomalous zinc (>100ppm) continuing at least 1.5 km to the west and northwest of the San Marcial silver resource area (Figure 2). Infilling of the soil grid to 25 m x 25 m on the five target areas has commenced.

Some 150 m to the southeast of the resource area, a strong (>500 ppm) zinc anomaly, approximately 75 m in width, has been encountered on the last soil line sampled to date. This could represent a significant extension to the San Marcial resource area. A large 25 m x 25 m soil sampling grid in this Cabañas area is now scheduled for immediate follow up.

Given the demonstrated close association of zinc with silver and, to a lesser extent gold, in the San Marcial Silver Project, the zinc XRF results are considered good preliminary indicators of potential precious metal rich zones. These quick turnaround XRF results will be followed up later in the field program by laboratory analysis of samples to test the silver and gold content, as XRF is not yet considered to be a satisfactory method for testing precious metals in soil sampling.

Geological mapping has identified strong regional fault structures hosting pervasive epithermal alteration.  The Cabañas and Faisanes targets demonstrate very similar geology to the historic resource, while the Nava and Pedregal targets indicate a NE-SW trending structural setting, superimposed on a volcanic package of rhyolites and andesites cut by dioritic dykes. The Chachalaca trend is interpreted as a NW-SE trending structural setting, with geology dominated by rhyolites and andesites.

In addition to the infill and extensional soil sampling program, the Goldplay technical team is following up the identified anomalies with detailed geological and structural mapping, as well as sampling of rock chips and channels, again using the NITON for quick turnaround XRF results to aid with target definition. Selected samples will then be analyzed by the laboratory.

NITON XRF

All samples are securely transported to the Company’s Rosario headquarters for XRF analysis. Members of the Goldplay technical team have been trained in the use of the NITON XL3t 955 portable XRF equipment, with results downloaded directly to a PC. Routine calibration of the equipment is undertaken at the Company’s Rosario headquarters, which is where all readings are completed in an isolated XRF room. Soil samples are oven dried prior to preparation and analysis.

This report does not contain any reference to gold or silver results determined by XRF analysis due to limitations in the accuracy of measurements of precious metals by this method. As the new targets are developed further, samples will be sent to the laboratory for fire assay analysis to quantify gold and silver levels.

Qualified Person and QA/QC

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.

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/

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Goldplay Announces Frankfurt Stock Exchange Listing

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce the listing of its shares on the Frankfurt Stock Exchange under the symbol GPE effective January 15, 2019.

The Frankfurt Stock Exchange is third in terms of volume behind New York and NASDAQ, and it will provide Goldplay access to a broader investment audience in Germany and Europe. The Company is currently listed on the TSX Venture Exchange in Canada and the OTCQB in the United States.

Goldplay President and CEO Marcio Fonseca commented, “Goldplay is committed to building shareholder value  and the Frankfurt  Stock Exchange listing will enable international investors to participate in the Company’s growth  and development”.

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 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 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/

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2019: Junior Resource Recovery?

And here we go!

The junior resources markets had a generally miserable 2018 and many of our readers are very happy to draw a double line under the year. Our cannabis friends were going great guns right up until the actual legalization date in Canada at which point the Canadian Marijuana Index fell by half. Fun on the way up, sobering on the way down.

The one bright spot in 2018 was the precious metals rally in December. Gold went from $1230 to $1280, silver from $14.30 to $15.40. In both cases, this restored a bit of confidence to the markets and we saw a bit of price firming in junior resource stocks.

Historically, the first quarter of the year tends to be good for precious metals and the companies who find them. We’ll see if this holds in 2019. As ever, management and cash on hand matter a lot. A prospective deposit is wonderful but it takes skill and money to develop that deposit. That’s one of the reasons motherlodetv.net tries to interview CEOs so that our readers can get a feel for management’s plans.

The other thing which matters investing in junior resource companies is “entry point” what price did you get your shares at. Coming into 2019 the market is littered with excellent companies with great properties selling at a fraction of their 2018 highs. To take one example, Golden Predator (V.GPY) opened 2018 at over $0.80, today you can buy shares for $0.26. If you dig a little you’ll find that GPY has completed a successful drilling season at its Yukon 3 Aces project, has undertaken important metallurgical drilling at its Brewery Creek project and bulk sampled 7 thousand tons at 3 Aces. That bulk sample has been 10% processed and the first doré bar has been poured 13,261 grams. 13.26 Kg at $41,429 USD per kilo. Call it $550,000 USD and there is much more material to process. It is a stronger company selling at a 60% discount.

The junior resource landscape has dozens of stories of good companies selling at a fraction of their yearly highs. The first months of 2019 look to be the “buy low” phase of the “buy low, sell high” investing mantra.

Meanwhile, to my not very great surprise, the manic phase of the marijuana market peaked just as the reality of legalization hit and the sheer incompetence of Health Canada’s licencing people was cast into stark relief. If a company was betting the farm – or grow-op – on the speedy creation of a regulated legalized market for pot in Canada they bet wrong. Only in Canada would legalization day be greeted with a nation wide shortage of legal pot. And it has not got a whole lot better in the months following legalization. As people point out, you have to grow cannabis and that takes time. If Canada goes the way of the US states which have legalized we can now expect the pendulum to swing the other way. Shortage will be replaced by abundance and then, fairly quickly, glut. As FSD Pharma’s (C.HUGE) Anthony Durkacz put it in an motherlodetv.net interview last year, “recreational marijuana is a race to zero”.

What this means to cannabis investors is that paying really close attention to management, plans and cash on hand is critical to picking winners in the marijuana market. There are a lot of opportunities in cannabis, almost none of them are in straight production for the recreational market. Look for the pharma side – pills, controlled dosage, innovative specific uses for cannabis molecules. And look for companies which are leveraging Canada’s first-mover legalization position to access foreign markets. Once again, entry point is important. Cannabis companies were beaten up in the last quarter of 2018 but some dove a lot further than others.  A company like HUGE, which peaked at $0.90 and is now trading at $0.30, while moving ahead with its plans and facilities is probably worth another look.

So, we open 2019 with a big sale on junior equities in both the precious metals and the cannabis space. Valuations have parted company with value in many cases and there is an opportunity to build positions for pennies on the dollar. As always, prepare for news flow as we come up to the Vancouver Cambridge Conference and even more so as PDAC draws closer in early March. News is the lifeblood of the junior sector but this past year a lot of good news was treated as a liquidity event by the market.

The TSX-V dropped from over 900 to less than 600 in 2018. We’ve seen similar drops in the past and then the market roars back. If we see a sustained improvement in precious metals prices through Q1 2019 we may very well see the overall junior market and especially the stocks which have really been beaten down, return to more normal levels. If precious metal take off – and the secular events of Mr. Trump, China, Brexit, tottering German banks and a host of others could ignite such a take-off – investing in junior resource stocks at current price levels will look very smart indeed.

So, have a Happy and Prosperous 2019 and keep reading motherlodetv.net.

[Note: I have corrected the bulk sample numbers for Golden Predator. This is our error as I did not call Janet Lee-Sheriff to check before posting. She was kind enough to send along the correction.]

 

 

 

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Goldplay Completes Private Placement

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”), is pleased to announce that the Company has closed the final tranche of its non-brokered private placement (the “Offering“) previously announced on November 19, 2018 and has issued 1,244,166 units for gross proceeds of $273,716.52.  Total gross proceeds raised under all tranches of this offering was $1,499,960.

In connection with this 2nd tranche closing, the Company paid finder’s fees totaling $1,980 cash and issued a total of 9,000 finder’s warrants.  Each finder’s warrant is exercisable for one common share at a price of $0.25/share for two years, provided that after the four month hold period expires, if for 10 consecutive days the closing price of the Company’s shares on the TSX-V exceeds $0.65, then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 10 days following the date on which the Company issues notice of the new expiry date.

All securities issued under this private placement are subject to a four month and one day hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

Marcio Fonseca, the Company’s President and Chief Executive Officer and Trevor Woolfe, the Company’s Vice-President of Corporate Development & Exploration, purchased 56,524 units and 136,364 units for total proceeds of $12,457.28 and $30,000.08 respectively.  Mr. Fonseca’s and Mr. Woolfe’s participation in this private placement is considered a related party transaction subject to TSX-V Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that the value of securities purchased by Mr. Fonseca and Mr. Woolfe under this financing did not exceed 25% of the fair market value of the Company’s market capitalization.

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. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/goldplay-completes-private-placement-300764059.html

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 31 55, Email: info@goldplayexploration.com, Website: www.goldplayexploration.com, 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2

Related Links

http://www.goldplayexploration.com/

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Precipitate Appoints Former President & Executive Director of Barrick’s Pueblo Viejo Mining Operation as Advisor

Precipitate Gold Corp. (TSXV: PRG) (the “Company” or “Precipitate”) is pleased to announce it has appointed Mr. Mejico Angeles-Lithgow as an advisor and consultant to the Company.

Mr. Angeles-Lithgow is a Dominican national who, until March 2018 held the position of President and Executive Director of the Barrick-Pueblo Viejo mining operation in the Dominican Republic, a joint venture company between Barrick (60%) and Goldcorp (40%) which is the single largest investment in the country’s economic history. Mr. Angeles-Lithgow worked at Barrick-Pueblo Viejo for nearly 11 years, having held the position of Director of Government Affairs before being promoted to President and Executive Director.

As President and Executive Director of Barrick-Pueblo Viejo, Mr. Angeles-Lithgow was responsible for co-managing one of the largest gold mining operations in the world and one of the Dominican Republic’s most important economic drivers, with an initial infrastructure investment of approximately US$4.3 billion and a recent 2017 production rate of approximately 1.0 million ounces gold per year at an all-in-sustaining cost per ounce of US$525*. The Company currently reports existing mining resources of 13.4 million ounces (“Moz”) gold, 74.4 Moz silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 g/t gold, 13.66 g/t silver and 0.08% copper) and an additional 3.6 Moz gold, 16.0 Moz silver, and 87.2 million pounds copper in the inferred category**. (*March 2018, NI 43-101 report. **Reported annual 2017 production, Barrick website).

Jeffrey Wilson, Precipitate President & CEO, stated, “We are pleased to welcome Mr. Angeles-Lithgow to the Company as an advisor and consultant. In light of our recent announcement to acquire ground adjacent to Barrick’s Pueblo Viejo mining operation, Mr. Angeles-Lithgow will provide critical local and in-country expertise to augment the geological and business acumen of the Company’s management team and Board of Directors. Mr. Angeles-Lithgow’s track record for establishing mutually beneficial relationships between the mining sector and local communities, business leaders and government officials at all levels, will provide invaluable insight to Precipitate as it commences activities at its Pueblo Grande Project. In his prior capacities at Pueblo Viejo, Mr. Angeles-Lithgow established himself as an important leader in the country’s mining sector, while making unique contributions to an admirable precedent for successful and responsible mining in the Dominican Republic.”

Prior to working at Barrick, Mr. Angeles-Lithgow was the Director of Commercial and Regulatory Affairs at Empresa Generadora de Electricidad Haina, S.A. (E.G.E. Haina), one of the two power generation companies formed as a result of the capitalization of the former state-owned power utility in the Dominican Republic and the reform of the power sector. He worked in the power sector for over 8 years.

Prior to his experience in the power sector, Mr. Angeles-Lithgow held various positions in the private sector in the Dominican Republic from which his involvement in marketing, sales, economic development, investment promotion, and community development, add to his broad-based management experience.

Mr. Angeles-Lithgow received a B.Sc. in Business Administration from the Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, followed by a Master of Science in Finance from the University of Lancaster, England and a Master’s Degree in Power Sector Economic Regulation from the Pontifical University of Comillas of Madrid, Spain (program delivered in Santo Domingo). He also completed a Master Degree in Security and Defense Studies from the Dominican Republic’s Ministry of Defense’s Graduate School of Strategic Studies and holds a graduate degree as Geopolitics Specialist from the same academic institution.

The Company also wishes to announce it has granted a total of 3,025,000 incentive stock options to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange approval and acceptance. Each option is exercisable to purchase one common share of the Company until November 20, 2023 at a price of C$0.08 per common share in accordance with the terms of the Company’s stock option plan.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend and Pueblo Viejo Camp of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value.

Additional information can be viewed at the Company’s website www.precipitategold.com.

On Behalf of the Board of Directors of Precipitate Gold Corp.,

Jeffrey Wilson

President & CEO

For further information, please contact:

Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company“) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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