Precious Metals

Goldplay Exploration Ltd. provided a summary and additional results of the surface trenching program at the El Habal property in Sinaloa, Mexico. The results to date have identified oxidized gold mineralization on the surface along a 1000 meter-long mineralized zone.

Goldplay Exploration Ltd. (TSXV:GPLY), provided a summary and additional results of the surface trenching program at the El Habal property in Sinaloa, Mexico. The results to date have identified oxidized gold mineralization on the surface along a 1000 meter-long mineralized zone. Additionally, the results of recent trenching at the Octavio target support opportunities to continue exploration along the mineralized zone to the east.

Highlights are as follows:

Program Highlights

  • 130 meters grading 1.86 grams per tonne (g/t) gold (Au) , 100 meters grading 1.20 g/t Au , 90 meters grading 0.84 g/t and the most recent discovery expanding the mineralized zone further east with 20 meters grading 1.33g/t and 50 meters grading 0.48 g/t Au including (13 meters grading 1.07g/t).

As quoted in the press release:

Results from the surface trenching program to date shows significant widths, high grades and consistent mineralization on the surface at most targets at the El Habal Property. These results together with a recently completed ground geophysical survey program (“CSAMT”) defined quality drill targets under investigation in the ongoing core drilling program.

All intervals have been reported on an uncut basis. In some of the trenches, where bedrock was not available, sampling was completed in the vicinity to access bedrock and provide sampling coverage on a continuous basis.

Sampling was completed near shallow historical underground or surface mining works close to major structures intersecting a highly silicified rhyolite. Occurrence of visible gold was reported in a group of high grade samples in this target.

At El Arenal there are multidirectional veins and stockwork system hosted by silicified rhyolites. There are also a series of historical shallow shafts defining an area with a presence of intense gold mineralization in the vicinity of the high-grade sampling zone.

The recent sampling results at the Octavio target, confirm the continuity of mineralized systems further east, representing an opportunity for additional shallow drilling targets.

The gold mineralization is represented mainly by oxidized stockwork systems hosted by altered andesites. 6 These combined results define a consistent oxidized gold mineralized zone over 1000 meters along the strike, supporting the exploration potential at the El Habal. The wide mineralization, together with the common occurrence of high-grade bonanza grades and associated resistivity targets, encourages Goldplay to continue with its surface and core drilling exploration program at the El Habal in the coming months.

Marcio Fonseca, CEO, commented:

The surface trenching results define a consistent oxidized gold mineralization zone extending over 1000 meters with evidence of high grade results together with a wide mineralized zone. This, together with the most recent ground geophysical survey results, indicate attractive exploration potential at El Habal.

Click here to read the full Goldplay Exploration Ltd. (TSXV:GPLY) press release.

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