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Goldplay Obtains Drilling Permit for the San Marcial Project
Oct. 18, 2018 06:38AM PST
Precious Metals InvestingGoldplay Exploration Ltd. announced that it has received approval from the Mexican national environmental agency for its upcoming drill programs at the San Marcial Project, Sinaloa, Mexico.
Goldplay Exploration Ltd. (TSXV:GPLY, OTCQB:GLYXF) announced that it has received approval from the Mexican national environmental agency for its upcoming drill programs at the San Marcial Project, Sinaloa, Mexico. Planning is underway for drilling campaigns to complement the company’s San Marcial resource estimate, due in December 2018, and the subsequent preliminary economic assessment (PEA) studies scheduled for completion in 2019.
As quoted in the press release:
The drilling approval was granted by SEMARNAT (Secretaria de Medio Ambiente y Recursos Naturales) following the submission by Goldplay of an environmental impact statement specific to the San Marcial project and upcoming drill plans, and allows for surface geological exploration including trenching and drilling activities. SEMARNAT recognizes that the activities proposed by Goldplay will be beneficial to the local community with opportunities of employment for local residents and will contribute to the socio-economic development of the local community.
Approval has been granted to the company for the completion of up to 69 drill holes, by either diamond core or reverse circulation methods, in a period of two years ending August 2020, and within a highly prospective area selected by Goldplay. Encouragingly, the positive response to Goldplay’s proposal by the Mexican authorities does not impose any extraordinary conditions on the proposed drill programs. Standard requirements include the rehabilitation of disturbances caused by the exploration activities, as well as minimizing construction of new access tracks and avoiding damage to the local environment.
Marcio Fonseca, president and CEO, commented:
The grant of the drilling permit opens the door for Goldplay to move forward with its objectives to delineate new mineralized zones beyond the historic NI 43-101 resource estimate area. This will also allow the identification of new discoveries in the 3.5 kilometers long mineralized trend and providing additional drilling information to support a PEA of the San Marcial project in 2019.
