Goldplay Exploration Ltd. (TSXV:GPLY) (the “Company” or “Goldplay”) is pleased to announce additional positive results from sampling of the historical core drill holes, completed in 2010 (“historical core”), from the Company’s San Marcial Project in Mexico. The high-grade results support open pit potential of the initial 500 meter long deposit.
- 57.3 meters (true width 51.6 meters) @ 122 gpt AgEq
- Including 14.3 meters (true width 12.9 meters) @ 278 gpt Ag Eq
- Including 18.6 meters (true width 16.7 meters) @ 117 gpt AgEq
- 58.7 meters (true width 52.8 meters) @ 104 gpt AgEq
- Including 12.5 meters (true width 11.2 meters) @ 379 gpt AgEq
Goldplay President and CEO Marcio Fonseca commented, “The shallow depth of intersections, favorable topography, width and high-grade of results announced in this release continue to reinforce the high-grade open pit development potential at San Marcial. The results also outline opportunities for expansion of the deposit, not only considering the silver mineralization but also zinc and lead with definition of new mineralized zones along strike and down dip, which were not previously incorporated in the historical interpretation. New Ag-Zn-Pb-Au mineralized zones identified from continued systematic sampling of historical core will be included in the upcoming resource estimation update scheduled for December 2018”.
The location of drill holes completed prior to the historical resource and the location of sampled drill holes SM-10-07 and SM-10-15 are illustrated below (Figure 1).
Results of drill hole SM-10-07 (Figure 2) have confirmed near surface, wide mineralization of 57.3 meters @ 122 g/t AgEq, including two high grade silver rich zones hosted in a broad polymetallic Zn-Pb mineralized system hosted by hydrothermal breccias. The positive results extend the mineralization down dip and increase the potential size of the deposit in conjunction with additional sampling in other drill holes on the same cross section.
Drill hole SM-10-15 (Figure 3) intersected a zone near surface containing 58.7 meters @ 104 gpt AgEq which, together with historic trench results on the same cross section (13.9 meters @ 419 gpt AgEq), confirms the mineralized zone geometry at the NW extremity of the historic resource.
The following table highlights the most significant drill results (uncut) from SM-10-07 and SM-10-15 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 continue to reveal silver-lead-zinc mineralization in the historic resource area as well as down dip and along strike, in zones not previously included in that resource.
A multi-phase mineralized event is interpreted to have produced a broad polymetallic mineralized footprint hosted mainly by hydrothermal breccias and with high grade zones following major structures. The Company will continue its drill core sampling program, aiming to complete a NI 43-101 resource estimate during the December 2018 quarter. The potential area to expand and connect mineralized zones previously modelled in the historic resource is illustrated in the longitudinal section (Figure 4).
To view drill hole location map and longitudinal section from this news release, please click the following links:
Historical Drill Holes Location Map San Marcial
Longitudinal Section San Marcial
QA/QC Protocols
Thorough QA/QC protocols are followed in all sampling programs and in assays completed by the Company. Goldplay’s management includes routine duplicates, blanks and standard samples in assay lots for all surface and drill hole samples. The samples are submitted directly to the SGS laboratory facilities in Durango, Mexico, …read more
From:: Investing News Network