Goldplay reports high-grade silver results at San Marcial project, Mexico

Map: Goldplay Exploration

Goldplay Exploration Ltd. announces that encouraging results in both silver (Ag) and gold (Au) have been received from the San Marcial Project, in Sinaloa State, Mexico.

Surface exploration and channel sampling at Faisanes have revealed additional high-grade silver and gold anomalies (Figure 1). Channel sampling consisted of saw-cutting along the road walls and road surface near the SM-19-01 discovery drill hole, which returned a 1 m intercept of 204.6 g/t gold. The channel sampling was augmented by systematic geological and structural mapping along the road.

The high-grade silver and anomalous gold samples are located on the NW edge of the existing resource area and as such are interpreted as potential extensions of the breccia-hosted silver mineralization. Additional investigations are underway to understand the links between these anomalous silver and gold zones and the high-grade gold result recently reported in SM-19-01 (Figure 2). The following table outlines the latest channel sample results:

 Goldplay President and CEO Marcio Fonseca commented, "Over recent months, our exploration activities to expand current NI 43-101 silver resources at San Marcial have succeeded in delineating new high-grade silver and gold targets. Additionally, we have recently discovered new, high-grade silver zones peripheral to the resource area. These silver and gold results support our theory of a high-grade mineralized system hosted in geological structures (faults) on the NW edge outside of the resource area. We expect to further explore these geological structures hosting high-grade mineralization, targeting the definition of additional resources at the Faisanes target."