Goldplay Exploration Ltd. (TSXV:GPLY) (The “Company” or “Goldplay”) is pleased to announce additional results from sampling of the historical core drill holes, completed in 2010 (“historical core”), from the Company’s San Marcial Project in Mexico, with confirmation of attractive mineralized intervals down dip from the historic resource area and also along the mineralized trend. The results announced in this current release, together with the historical results below (from news release August 16th, 2018), reinforce open pit development potential at San Marcial:
- 93.0 meters (true width 68.0 meters) @ 104 gpt Ag or 165 gpt AgEq
- (including 10.0 meters @ 324 gpt Ag or 508 gpt AgEq)
- 57.0 meters (true width 46.0 meters) @ 122 gpt Ag or 270 gpt AgEq
- 42.0 meters (true width 39.6 meters) @ 80 gpt Ag or 153 gpt AgEq
- 35.0 meters (true width 32.0 meters) @ 38 gpt Ag or 64 gpt AgEq
- 19.2 meters (true width 12.6 meters) @ 130 gpt Ag or 144 gpt AgEq
- 12.0 meters (true width 12.0 meters) @ 419 gpt Ag or 467 gpt AgEq
- (including 6.0 m @ 939 gpt Ag or 1,012 gpt AgEq)
Goldplay President and CEO Marcio Fonseca commented, “The sampling of historic core at San Marcial continues to deliver positive results at shallow depth. The width and high-grade results in the mineralized zone not only indicate attractive potential for future open pit project development, but also encourage the Company to pursue deeper drilling to support underground potential. High grade and wide intersections from historical holes – such as SM-04 (57 meters @ 270 gpt AgEq) – near the surface, combined with the latest released results from sampling of historic core – including SM-10-11 (11.5 meters @ 160 gpt AgEq) – together with a new 3D Geological Model, continue to enhance the attractiveness of San Marcial for future open pit project development.”
The location of drill holes completed prior to the historical resource and the location of sampled drill holes SM-10-04 and SM-10-11 are illustrated as follows (Figures 1, 2 and 3).
Drill hole SM-10-11 (Figure 2) has confirmed near surface, wide mineralization in the furthest SE section of the historic resource area. This drill hole doubles the footprint of the mineralized zone on this section.
Drill hole SM-10-04 (Figure 3) intersected a zone near surface (21.9 meters @ 146 gpt AgEq) which, together with historic drill holes SM-08-08 (93 meters @ 165 gpt AgEq) and SM-11 (12.0 meters @ 467 gpt AgEq), confirm robust mineralized zone geometry in the center of the historic resource, with attractive topography for future open pit development. The following table highlights the most significant drill results (uncut) from SM-10-04 and SM-10-11 for this news release.
| Note: all numbers are rounded. |
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$1,250), Pb price per lb. (US$0.95) and Zn price per lb. (US$1.15) and 100% Metallurgical Recovery.
These results support silver-lead-zinc mineralization along the main …read more
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