Goldplay strikes high grade gold and silver in Mexico

A Canadian silver and gold explorer has been making some great silver and gold discoveries in Mexico, including an exciting recent drill result that intersected 1 m @ 204.6 g/t gold (Au), and 155 g/t silver (Ag) at their 100% owned San Marcial Project.

Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF) 100% owns a 250 sq. km exploration portfolio in the historical Rosario Mining District in Sinaloa, Mexico. The Company’s current focus includes the current resource expansion and the exploration of new gold and silver discoveries at their flagship San Marcial Project in Mexico. Other nearby projects 100% owned by Goldplay include: El Habal, Yauco, La (Villa) Union and El Placer. Potential exists mostly for silver, gold, lead and zinc.

Goldplay Exploration’s projects in Mexico – San Marcial, El Habal, Yauco, La (Villa) Union and El Placer II

First drill hole at the Faisanes target at San Marcial strikes high grade gold and silver

News for exploration miners does not come much better than this. Goldplay announced on July 31 an exciting high-grade gold intersection from their first core drill hole at their Faisanes target at the San Marcial Project in Sinaloa, Mexico. The drill result was the first hole drilled as the Company aims to define a new gold mineralized zone close to surface. Drill hole SM 19-01 intersected 1 m @ 204.6 g/t Au, immediately adjacent to the western edge of the San Marcial resource. The drill hole was drilled 75 meters below the surface, confirming mineralization previously identified by trenching and shallow old workings. The drill result was also positive for silver (Ag) including 0.75m at 248 g/t Ag, and the same gold 1m interval as above had 155 g/t Ag. The Company anticipates completing approximately 3 additional core drill holes at Faisanes in Q3 2019 to follow up on SM 19-01.

A year ago data was indicating a high grade silver, lead, and zinc target. The drilling at Faisanes target is following recent surface channel sampling that returned 56 m @ 196 g/t Ag. Prior drill results at San Marcial have discovered numerous high grade silver deposits, including 5.65m @1,225 g/t Ag.

Goldplay President and CEO Marcio Fonseca commented: “The high-grade gold-silver intercept is highly significant as it supports the Company’s goal of expanding the San Marcial resource. It is the first time in approximately 10 years that any type of exploration work has been carried out on the project.”

Huge exploration potential

San Marcial exhibits a significant exploration upside that is supported by regional exploration programs completed by previous operators. 14 exploration targets within Goldplay’s 100% owned concessions were identified with some exploration targets consist of old shallow pits, caved shafts and historical underground workings and sampling evidence of a highly prospective geological environment for gold and silver discoveries.

Exploration at the Nava target 1km from the Faisanes discovery

At the nearby Nava Target, approximately 1 km west of the Faisanes discovery, a broad high grade gold zone has been encountered at surface 300 m along strike, west of the original gold bearing trenches. Results of up to 10 g/t Au from previous channel sampling in shallow historical underground tunnels have been followed up by surface channel sampling along strike of up to 9 g/t Au. This is suggesting the possibility of a significant expansion to the size of the Nava target and defining an immediate drilling target.

CEO Marcio Fonseca commented: “A high grade gold zone containing 24 m at 2.11 g/t Au, has provided the Company with encouragement that the Nava target could host a significant body of gold mineralization in a low sulphuration epithermal system.”

Goldplay Exploration has already released a good NI 43-101 Resource at San Marcial of 47 MozAg Eq. The current Q3 2019 drilling campaign aims to expand the current resource, with a longer term plan towards a potential open pit silver, gold, lead and zinc mine at San Marcial.

With the trade war getting worse, gold and silver prices rising, it makes perfect sense for investors to be looking at promising gold and silver explorers. To date, Goldplay ticks all the right boxes.

Headquartered in Vancouver, Canada; Goldplay Exploration has a market cap of C$ 11.3 m.

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.

Goldplay’s San Marcial Project in Mexico

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.

Brisco Capital’s Koyich on Goldplay’s two ‘perfect’ properties

“With Marcio we are right in the middle of the Sinaloa District and we have set up two perfect properties, San Marcial being on the silver side and, of course, El Habal on the gold side. I think that we have positioned ourselves for success, obviously with the share structure and the two properties and our shareholder base.” states Scott Koyich, President of Brisco Capital Partners Corp. and Investor Relations Counsel for Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Scott you are the investor relations counsel and a significant shareholder of Goldplay Exploration. Is that correct? 

Scott Koyich: That is correct.

Tracy Weslosky: Now everybody knows I am actually a gold bug. I love gold and I think more people should be looking at this market right now. Can I get your comments on getting more investors to be looking at gold and silver exploration plays in the market? 

Scott Koyich: I think there was a survey that I read that the perception and the investors’ psyche for gold and precious metals in fact are at an all-time low so it is very, very difficult. Most investors that are in the precious metal cycle are either stuck and looking to get out, but it is very difficult to track new blood simply because of the negative sentiment out there.

Tracy Weslosky: Scott we, of course, believe that there are a lot of advantages, of course, buying at this point in the market. One of your many competitive advantages are your capital structures. We are assuming you have a lot to do with that. Can you tell us a little bit more about the competitive advantages of Goldplay Exploration’s capital structure please?

Scott Koyich: I think that it is important for any equity to have a strong capital structure because if you do not it is very difficult to get equity appreciation especially with algorithmic traders and electronic traders, etc. What ends up happening is we set this up for perfection so 34 million shares, management has 22%, Marcio has 9%. He keeps touching the 10% threshold and obviously our significant shareholders, Sandstrom and JDS and now SSR, it makes the equity appreciation that much easier obviously if we get a tailwind.   

Tracy Weslosky: There are a lot of gold and silver exploration plays in the market right now competing for investors’ attention. In addition, of course, to the management, the board of directors and capital structure, let us talk about the real prize, the gold and silver in your respective properties. Can you give us an overview please? 

Scott Koyich: At Brisco Capital, which is the company that I run, we have just taken two companies on the road that have done extremely well. Both Silvercrest Metals, which Marcio, of course, was involved with Silvercrest Mining and then, of course, Great Bear, which just had a great hit at Red Lake. With Marcio we are right in the middle of the Sinaloa District and we have set up two perfect properties, San Marcial being on the silver side and, of course, El Habal on the gold side. I think that we have positioned ourselves for success, obviously with the share structure and the two properties and our shareholder base. With success over time at a $5 million dollar market cap this company is poised for success for sure…to access the complete interview, click here

Disclaimer: Goldplay Exploration Ltd. is an advertorial member of InvestorIntel Corp.