Miners Core Sampling Doubles Footprint of Historical Resource [GLYZF, GPLY]

This Canadian company’s most recent findings demonstrate the potential of its Mexico project.

Goldplay Exploration Ltd. (GPLY:TSX.V; GLYZF:OTCQB) just announced high-grade silver-lead-zinc-gold mineralization from sampling of a re-opened historical tunnel at San Marcial. Results include 13 meters at 1,048 grams per ton silver equivalent (Ag eq).

Marcio Fonseca, Goldplay’s president and CEO noted, “We recently re-opened a historical underground tunnel that cuts through the foot wall sequence of the San Marcial deposit and through the silver-lead-zinc-gold bearing hydrothermal breccia. The high-grade results that we received over substantial widths, including 3 meters at over 1.9 kg/t AgEq, support the high-grade nature of the mineralization. Our understanding of the geological controls on the high-grade mineralization will assist in the planning of our upcoming drill program. The tunnel results support continuity of the polymetallic mineralization from surface and provide positive correlation with our current 3D modeling, which will lead into a new NI 43-101 resource estimate, expected in January 2019.”

On October 30, Goldplay announced that ongoing sampling of the historical drill core at San Marcial continues to yield intercepts of silver-gold-lead-zinc mineralization, with recent results returning 23 meters of 160 g/t Ag eq, as an example.

Other highlights from recent sampling are:

  • 61m (true width 47.8m) of 93 g/t Ag eq
  • 56m (true width 42m) at 61 g/t Ag eq, including 33m (true width 24.8m) at 79 g/t Ag eq
  • 12.5m (true width 9.4 meters) of 126 g/t Ag eq

Generally, the company noted these findings demonstrate a doubling of the footprint of the modeled historical resource, with much wider and continuous mineralization along strike and downdip. They show potential for expansion and further exploration upside. In addition, they reinforce open-pit mining potential for the historical resource area.

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Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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