- 1.5 meters (true width 1.5 meters) @ 1,197 gpt Ag or 1,285 gpt AgEq*
- 1.0 meter (true width 1.0 meters) @ 501 gpt Ag or 531 gpt AgEq
- 32.4 meters (true with 16.0 meters) @ 57 gpt Ag or 82 gpt AgEq
- 4.4 meters (true width 2.4 meters) @ 120 gpt Ag or 210 gpt AgEq
- 47.0 meters (true width 12.0 meters) @ 0.2 gpt Au **
Goldplay Exploration Ltd. (TSXV:GPLY) is pleased to announce additional results from sampling of the historical core drill holes, completed in 2010, from the Company’s San Marcial Project in Mexico. The Company has confirmed upside potential for resource expansion with advancement of the sampling program, new 3D geological modelling and discovery of new precious and base metals mineralization at San Marcial. The new results expand known mineralization 200 meters down dip beyond the historic NI 43-101 resource area (“historic resource”) and also delineate a new discovery subparallel to the main mineralized zone, increasing twice the footprint of mineralization, as illustrated in Figures 1 and 2.
Goldplay President and CEO Marcio Fonseca commented, “The San Marcial exploration program continues to deliver near surface, wide and high-grade intersections supporting not only open pit, but also underground, potential. We have now received information confirming continuity of a mineralized system for more than 200 meters down dip, beyond the extent of the historic resource, as well as the discovery of a sub-parallel mineralized system that has the potential to expand the resource, generating new Ag-Au drilling targets( Figure 2). We are currently advancing surface exploration of other untested targets along the 3.5 km mineralized trend (and beyond the 500 meter long mineralized trend of the historic resource). The discovery of Ag-Au and Au-only mineralization, represented mainly by a stockwork system hosted in silicified volcanic, has doubled the footprint of precious and base metal mineralization, creating a near surface additional open pit target zone with indications of high-grade mineralization for future underground target exploration.”
Drill hole SM-10-09 intersected three zones near surface (7.8 meters @ 181 g/t AgEq, 18.7 meters @ 91 g/t AgEq and 16.5 meters @ 52 g/t AgEq) together with drill holes SM-10-06 (46 meters @ 129 g/t AgEq – News Release August 28th 2018) and SM-10-22 (19.5 meters @ 157 g/t AgEq –* including 1.5 meters @ 1,285 g/t AgEq – News Release August 16th 2018), confirming continuity of mineralization 200 meters down dip. These results indicate an immediate area for expansion of the estimated resources, scheduled for completion in 2018.
Sampling of drill hole SM-10-22 has confirmed near surface, wide mineralization (32.4 meters @ 82 gpt AgEq), supporting open pit target potential at San Marcial, as illustrated in Figure 3. The following table highlights the most significant drill results (uncut) from SM-10-09 and SM-10-22 for this news release.
| Hole No. | From
(m) |
To
(m) |
Interval
(m) |
True
Width (m) |
Ag
g/t |
Pb % | Zn % | Au
g/t |
AgEq* g/t | ||||
| SM-10-09 | 97.5 | 105.3 | 7.8 | 4.0 | 63 | 1.0 | 1.3 | 0.07 | 181 | ||||
| 114.8 | 133.5 | 18.7 | 9.0 | 73 | 0.09 | 0.2 | 0.07 | 91 | |||||
| ** | 188.0 | 235.0 | 47.0 | 12.0 | 0.2 | ||||||||
| 280.0 | 286.0 | 6.0 | 3.0 | 139 | 0.03 | 0.15 | 0.04 | 151 | |||||
| Including | 285.0 | 286.0 | 1.0 | 1.0 | 501 | 0.09 | 0.4 | 0.08 | 531 | ||||
| 295.0 | 299.0 | 4.0 | 2.0 | 120 | 0.2 | 0.7 | 0.1 | 174 | |||||
| SM-10-20 | 69.9 | 102.3 | 32.4 | 16.0 | 57 | 0.1 | 0.4 | 0.04 | 82 | ||||
| Including | 69.9 | 74.3 | 4.4 | 2.2 | 120 | 0.4 | 1.4 | 0.06 | 210 | ||||
| 119.5 | 124.8 | 5.3 | 2.4 | 85 | 0.1 | 0.3 | 0.15 | 116 | |||||
Note: all numbers are rounded. **Au only mineralization hosted in stockwork.
AgEq (silver equivalent) is calculated from gpt data. AgEq g/t = Ag g/t + Au g/t x (Ag Price per oz/ Au price per oz) + (Pb grade x ((Pb price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)). Ag price per oz (US$16.50), Au price per oz(US$1250), Pb price per lb. (US$0.95) and Zn price per lb. (US$1.15) and 100% Metallurgical Recovery.
These results, together with historical data and a 3D geological modelling provide additional information to extend known mineralization down-dip in the center of the historical resource area.
The new Ag-Au and Au mineralization discovered by sampling SM-10-09 represents a new target to expand the resource. It is mainly comprised of a pervasive stockwork system (millimetric veining) hosted by a silicified epiclastic volcanic sequence, with evidence of disseminated sulphide. The consistent Au mineralization along the 47 meters shows grades ranging from 0.2 gpt Au up to 1.1 gpt Au, with base metal mineralization absent.
This indicates the likely presence of a low to intermediate sulphidation epithermal system with low base metal content and geochemically distinct from …read more
From:: Investing News Network