Can Goldplay bring some joy to the festive season?
Gold has been the historical measure of wealth with the first evidence of human interaction occurring in ancient Egypt around 3,000 B.C. Prized by pharaohs and temple priests, gold played an important role in ancient Egyptian mythology. It was so important in fact, that the capstones on the Pyramids of Giza were made from solid gold. The Egyptians were the first to produce a known currency exchange ratio, which mandated the correct ratio of gold to silver: one piece of gold equaled two and a half parts of silver.
Silver is also considered a key precious metal, just not quite as rare as gold. Silver has the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. Other than in currency (coins, bullion) silver is used in solar panels, water filtration, jewellery, ornaments, silverware, in electrical contacts and conductors, in specialized mirrors, window coatings, in catalysis of chemical reactions, as a colorant in stained glass, and in photographic and X-ray film.
Successful gold and silver mining companies tend to perform well when equity markets do poorly, as investors seek safe haven investments and there is always a buyer for gold and silver. Given December 2018 is looking as bad as December 2008 (GFC year), investors should be checking if they have some gold and silver exposure to help protect against equity downturns.
Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF) is a Canadian and U.S. listed company focused on the discovery of gold-silver deposits in the historically prolific Rosario Mining District in Sinaloa, Mexico. The Company has worked hard to consolidate and acquire a low-cost 100% owned 250 square km exploration portfolio. Goldplay is unlocking a proven historical gold mining district and have had some great recent highlights in what they consider two perfect projects, San Marcial Silver and El Habal Gold. To date Goldplay has a historical resource of 30 million ounces of silver equivalent (AgEq), and is looking to upgrade that soon towards a target of 45-60 million ounces AgEq, which would be a 50-100% increase if achieved. It is also important to note the historical resource is contained within 500m section of a 3.5km long mineralized zone, so there is plenty of further exploration potential.
The San Marcial Silver-Lead-Zinc-Gold Project
The San Marcial Silver-Lead-Zinc-Gold Project is at near surface and has a historical resource estimate of 30 million ounces AgEq. Results from a historical underground tunnel that was re-opened showed a sample high grade result for silver at 13.0 m @ 1,048 gpt AgEq (550 gpt Ag), including 3.0 m @1,934 gpt AgEq (1,127 gpt Ag). The Company also recently discovered the footprint was double that of historical findings thus showing potential for expansion and further exploration upside. A new NI resource estimate is expected in January 2019.
The El Habal Gold-Silver project
The El Habal Gold-Silver project comprises over 3,700 hectares and is located within a multi-million ounce historical district. A first phase four hole drilling program announced in August identified near surface continuity of gold mineralization.
With an exploration team having a record of successful discoveries, and with over 10 years of experience in the Rosario District, Goldplay Exploration will continue to focus on the discovery of gold-silver deposits in the prolific Rosario Mining District, Sinaloa, Mexico.
The end of the year is upon us but before we turn our thoughts towards 2019 and what awaits us, there is still the festive season and celebrations to get through. With today’s current gold trends seeming to be centered around re-opened historic mines, Goldplay Exploration could be a great speculative investment. The expected January 2019 resource upgrade can potentially be a great catalyst for the stock in early 2019, and a belated Christmas gift for investors.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>