Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that high grade silver (Ag) results of 12 m at 323 g/t Ag have been received at the southeastern limits of the San Marcial NI 43-101 Resource Area, providing encouragement for extensions to the southeast in the Guacamayo target. The potential of the San Marcial Project for gold (Au), in addition to silver, mineralization continues to be enhanced with anomalous silver and gold results received of up to 974 g/t Ag and 2.01 g/t Au over one metre channel samples.
The Guacamayo target is located at the southeastern end (Figures 1 and 2) of the San Marcial NI 43-101 Resource Area (see News Release dated 7 February 2019), an area highlighted for potential resource expansion within the San Marcial Project. The Guacamayo target has been identified in soil and rock chip sampling as having potential not only for silver but also gold mineralization in the vicinity of the Resource Area (Figure 3).
The high-grade silver interval of 12 m at 323 g/t Ag is within a broader zone of 24 m at 219 g/t Ag (Table 1). The SMtr-022 trench is located to the SE of the last drill hole in the San Marcial Resource Area – historical hole SM-05 (Figure 4) – which returned an intersection of 19.6 m at 282 g/t Ag from 1.4 m depth. Consequently, the mineralization in the SMtr-022 trench shows consistency and hence a continuation to the SE of that high-grade silver mineralization, at surface.
Gold was not analyzed in the historic SM-05 drill hole, so the anomalous gold in SMtr-022 is unexpected, representing a new mineralized zone not included in the current NI 43-101 resource estimation. The broad 24 m silver interval also includes an average of 0.25 g/t Au. Locally, a one metre interval within the broad silver zone contains a highest grade of 2.01 g/t Au (Table 1). This result supports the gold discovery announced by Goldplay in the central part (Section 180NW) of the San Marcial NI 43-101 Resource Area (see News Release dated 18 September 2018), hosted by stockwork style mineralization in the footwall below the silver-bearing breccia.
Goldplay President and CEO Marcio Fonseca commented, “We are extremely pleased by the channel sample results from trench SMtr-022 as they indicate the potential for expanding the resource into the Guacamayo target to the SE of the San Marcial NI 43-101 silver resource area. Wide mineralization on surface, including high grade silver up to 1m at 974 g/t Ag, provides further encouragement for potentially expand the resource.
Our recent exploration has also identified the previously unrecognized gold potential of the San Marcial Project, with the Nava Zone developing as a pure gold discovery, and the footwall zone below the San Marcial silver-rich breccia also hosting broad anomalous gold mineralization. This gold potential is enhanced by trench SMtr-022 with results up to 2.01 g/t Au.”
Table 1: Guacamayo Target – Significant Laboratory Results from Trench SMtr-022
Channel lengths are measured along each trench commencing at the northern end. All numbers are rounded. Mineralized zones are calculated allowing for maximum 2 m of internal waste, using the stated cut-off grades.
* Au results based on Au>0.4 g/t
Figure 1: Location of Guacamayo Target (5) and San Marcial Resource Area
Figure 2: Location of Guacamayo Target – at SE Extension of San Marcial Resource Area
Figure 3: Aerial view – Guacamayo Target and Resource Area
Figure 4: Location of SMtr-022 Trench – SE Extension of San Marcial Resource Area
Geological mapping and additional channel sampling are underway to test for further extensions of the San Marcial NI 43-101 resource along strike to the SE. It is anticipated that further success in this SE extension zone will lead to drill testing in the recently announced drill program (see News Release dated 16 May 2019).
Qualified Person
The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.
Quality Assurance Program and Quality Control Procedures (“QA/QC”)
Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.
