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Opencast development potential confirmed by latest San Marcial project drilling results

Published by , Assistant Editor
Global Mining Review,

Goldplay Exploration Ltd. (Goldplay) has announced additional positive results from sampling of the historical core drill holes, completed in 2010 (historical core), from the company’s San Marcial project in Mexico. The high-grade results support opencast potential of the initial 500 m long deposit.

Goldplay President and CEO Marcio Fonseca commented: “The shallow depth of intersections, favorable topography, width and high-grade of results announced in this release continue to reinforce the high-grade opencast development potential at San Marcial. The results also outline opportunities for expansion of the deposit, not only considering the silver mineralisation but also zinc and lead with definition of new mineralised zones along strike and down dip, which were not previously incorporated in the historical interpretation. New Ag-Zn-Pb-Au mineralised zones identified from continued systematic sampling of historical core will be included in the upcoming resource estimation update scheduled for December 2018”.

Results of drill hole SM-10-07 have confirmed near surface, wide mineralisation of 57.3 m @ 122 g/t AgEq, including two high grade silver rich zones hosted in a broad polymetallic Zn-Pb mineralised system hosted by hydrothermal breccias. The positive results extend the mineralisation down dip and increase the potential size of the deposit in conjunction with additional sampling in other drill holes on the same cross section.

Drill hole SM-10-15 intersected a zone near surface containing 58.7 m @ 104 g/t AgEq which, together with historic trench results on the same cross section (13.9 m @ 419 g/t AgEq), confirms the mineralised zone geometry at the NW extremity of the historic resource.

These results continue to reveal silver-lead-zinc mineralisation in the historic resource area as well as down dip and along strike, in zones not previously included in that resource.

A multi-phase mineralised event is interpreted to have produced a broad polymetallic mineralised footprint hosted mainly by hydrothermal breccias and with high grade zones following major structures. The company will continue its drill core sampling programme, aiming to complete a NI 43-101 resource estimate during the December 2018 quarter. The potential area to expand and connect mineralised zones previously modelled in the historic resource is illustrated in the longitudinal section.

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