The Canadian owner of this acreage will continue
prospecting.
Goldplay
Exploration Ltd. (GPLY:TSX.V; GLYZF:OTCQB) received from the Mexican
government a geological exploration permit that allows for trenching and drilling at the San
Marcial project. "San Marcial is an near-surface high-grade silver, lead
and zinc project for which a historical resource estimate has been previously
disclosed," the company noted.
The permit affords the company two years, through August 2020, to complete
up to 69 diamond core or reverse circulation drill holes "within a
highly prospective area selected by Goldplay," according to a news
release.
Mexican authorities did not attach to the permit any extraordinary
restrictions or requirements. As is standard, the company must refrain from
harming the local environment, remediate any exploration-caused disturbances
in that regard and minimize accessways construction.
With the permit in hand, the company may now move forward with its efforts
to delineate new mineralized zones beyond the historic resource and
potentially make new discoveries in the known, 3.5 kilometer long mineralized
trend. The results from these exploration activities will be incorporated
into the preliminary economic assessment, slated for completion in 2019.
SEMARNAT, or the Secretaria de Medio Ambiente y Recursos Naturales,
granted the permit after Goldplay submitted an environmental impact study and
drilling plans.
Next for Goldplay is finalizing its three-dimensional model of the San
Marcial silver-zinc-lead-gold deposit "using high grade results received
from recently sampled and assayed historic drill core" and then using it
to complete an NI 43-101 compliant resource estimate. Completion of that is
expected by year-end. The company plans to release a preliminary economic
assessment in 2019.
[NLINSERT]
