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Goldplay Exploration Ltd.
Summary
| Project: | San Marcial | |
|---|---|---|
| Deposit: | San Marcial | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 2/7/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-2-2019: Goldplay Exploration Ltd. announces a Resource Estimation report for its San Marcial deposit at the San Marcial project. Initial mineral resource estimate at the project. VANCOUVER, Feb. 7, 2019 /CNW/ - Goldplay Exploration Ltd. (TSXV: GPLY, FRA | |
| Resources: | (Resource): 7.6Mt @ 117g/t Ag, 0.5% Zn, 0.3% Pb (Ind.), 3.4Mt @ 91g/t Ag, 0.4% Zn, 0.1% Pb (Inf.) | |
| CP/QP: | [Resources]: Marcelo Filipov, Todd McCracken (WSP Canada Inc.) | |
| ABSTRACT: | VANCOUVER, Feb. 7, 2019 /CNW/ - Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) ("Goldplay" or the "Company") is pleased to announce the completion of an independent NI 43-101 mineral resource estimation ("Mineral Resource"), for the San Marcial Project, located in Sinaloa, Mexico. Goldplay's maiden San Marcial Mineral Resource is a substantial increase from the historical resource completed by Silvermex Resources Inc. in 2008 ("Historical Resource")1 and reported by Goldplay on 18 April 2018. The Mineral Resource consists of 36 million ounces ("Moz") of silver equivalent ("AgEq")2 at an average grade of 147 grams per tonne ("gpt") AgEq in the Indicated category and an additional 11 Moz AgEq at an average grade of 99 gpt AgEq in the Inferred category, using a 30 gpt AgEq cut off for open pit and 80 gpt AgEq for underground resource classification completed by WSP Canada Inc. on February 07, 2019. The Mineral Resource includes 22 core drill holes (assayed during 2018) in addition to the 30 core drill holes that were used to estimate the Historical Resource in 2008. Goldplay President and CEO Marcio Fonseca commented, "The completion of our maiden Mineral Resource on the San Marcial Project is a major milestone for Goldplay We have achieved a significant increase in the contained ounces of both Ag and AgEq. The Mineral Resource provides a strong foundation to realize the full potential of the San Marcial Project. We are progressing with detailed, systematic exploration of the under-explored additional 3.5 km of mineralized trend. Recent surface exploration results have already confirmed new exploration targets in the vicinity of the mineral resource (Figure 2), representing future upside opportunity for resource expansion in 2019. The significant increase in the Mineral Resource including delineation of a high-grade shallow Breccia Zone (Figure 1), represents an attractive target amenable for potential open pit development, and is open along strike as well as down dip, given most of the core drilling to date has only tested down to 250 m below the surface. Goldplay congratulates its technical team for achieving an impressive increase in the Mineral Resource at San Marcial, when compared to the Historical Resource 1 (see: http://goldplayexploration.com/wp-content/uploads/2019/02/GOLDPLAY-NewRel-April18th2018Final.pdf) Goldplay retained the services of WSP Canada Inc. to complete the 3-D modeling and independent NI 43-101 | |
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