The company unveiled additional results from
sampling historical core drill holes.
Goldplay
Exploration Ltd. (GPLY:TSX.V; GLYZF:OTCQB) announced additional results from sampling of the historical core drill holes,
completed in 2010, from the company's San Marcial Project in Mexico.
Goldplay "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 company reported. "The new results expand known
mineralization 200 meters down dip beyond the historic NI 43-101 resource
area and also delineate a new discovery subparallel to the main mineralized
zone, increasing twice the footprint of mineralization."
"The San Marcial exploration program continues to deliver near
surface, wide and high-grade intersections supporting not only open pit, but
also underground, potential," said Goldplay President and CEO Marcio
Fonseca commented. "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. 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."
A drill hole marked 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) and
SM-10-22 (19.5 meters @ 157 g/t AgEq, including 1.5 meters @ 1,285 g/t AgEq),
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," stated Goldplay.
"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."
"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 company
stated.
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