Goldplay focused on unlocking a proven historical gold mining district in Mexico
Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF) is a Canadian company focused on the discovery of gold-silver deposits in the prolific Rosario mining district in Sinaloa, Mexico. Goldplay’s exploration team has over 10 years experience in the historical Rosario district. Successful discoveries in the district by other companies include the extension of Marlin Gold Mining’s La Trinidad mine, one of Mexico’s highest grade, open pit gold mines. Goldplay’s 250+ sq. km 100% owned exploration portfolio has no earn-in requirements, and covers one of the most prospective areas in the Rosario district.
The Rosario mining district has been and currently is host to many world-class precious metal mines and projects, notably the historical multi-million ounce Rosario gold-silver mine, whose operation life spanned over 250 years.
El Habal precious metals project
Goldplay’s El Habal precious metals project is a low sulphidation epithermal exploration-stage project that borders the Rosario Mine concessions. Comprising 3,700 hectares it is located 75 km east of the modern coastal port of Mazatlán, and is only 10km from the historical mining town of Rosario using a paved road. Power ready, El Habal hosts excellent infrastructure for future mine development. The El Habal mining concessions cover a 6 km long by 1 km wide trend containing a series of historical shallow and small-scale underground artisanal mining sites that all resemble the geology of the Rosario Mine.
In late 2017, Goldplay completed a successful surface channel sampling and trenching program. The study revealed wide oxidized mineralised zones over a 2 km strike length, not only on historical mine sites, but also on the host rocks, including 4 new prospects: “La Reina”, “El Arenal”, “Santos” and “Octavio”. Recent mapping along a 6km long by 1km wide geological trend, together with in progress ground geophysical program has generated targets for upcoming additional drilling programs. The integration of historical (non 43-101 compliant) drill data, combined with the recent exploration results is supporting an upcoming drilling program, aiming to define resources not only for potential open pit amenable project but also underground potential.
The San Marcial near surface high-grade silver-zinc-lead project
The San Marcial project consists of 1,250 hectares, and is located 30 km from the companies El Habal project. San Marcial exhibits significant exploration upside supported by historical regional exploration programs completed by previous operators with the identification of 14 exploration targets inside the concessions. Some of these exploration targets consist of old shallow pits, and historical underground workings. San Marcial should be regarded as an advanced project with bulk tonnage and open pit potential, which may has a significant economic significance should the mineralisation prove to be more extensive than is presently indicated by the current resource estimate. Historical drill results include (SM-4), 53.95 meters @ 223 g/t Ag, 0.29% Zn, 0.45% Pb (including 15.0, meters @ 637 g/t Ag, 0.4% Zn, 0.37% Pb).
Goldplay has a market cap of C$ 7.2m
Goldplay (Live) is also the name of a tribute band for the British rock group called Coldplay, who in the year 2000 had a world-wide hit called “Yellow”. If only I had seen the signs earlier. Coldplay have earned several Gold records for sales on their music.
Goldplay Exploration doesn’t play music but have good exploration potential in the prolific Rosario gold mining district in Sinaloa, Mexico. I’m not even sure if any of them can sing.
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>