El Habal Project First Phase Drilling Program Results
VANCOUVER, BC - Goldplay Exploration Ltd. reported initial results of four drill holes of the Company's first phase of its core drilling program, at its 100%-owned El Habal Project, Sinaloa, Mexico. The program has successfully identified near-surface continuity of gold mineralization. Four drill holes were completed at El Habal, totaling 1045.85 meters. Highlights include: 77.5 m @ 0.43 g/t Au in drill hole 18 EH-2 - Including 9.45m @ 2.05 g/t Au; 15.4 m @ 1.35 g/t Au in drill hole 18 EH-1.
Goldplay President and CEO Marcio Fonseca commented, "Goldplay's objective is to define the geometry and controls of mineralization at El Habal within the 6 km-long prospective corridor, expanding gold mineralization both along strike and down dip. We are pleased with the progress the Company has made towards advancing this goal. The next step will be a follow up drill program".
The drill intercepts have revealed wide gold mineralization hosted in a series of altered rhyolites, andesites and intrusives. The mineralization represents a high-level gold system hosted in a volcanic sequence with intrusive (granitoids) and related hydrothermal fluids. The alteration zone on surface combined with a series of mineralized breccias, structures/fault zones suggests placement at high-level, low-pressure brittle regime with hydrothermal fluids occurring within multiple regional fault structures present in the 6km-long mineralized corridor.
The El Habal Project is located in the Rosario Mining District, a historical mining district with approximately 250 years of mining history. The Rosario Mining District has multiple mineral occurrences and mines in operation, such as the Rosario Mine, Trinidad Mine (Marlin Gold Mining Ltd), Plomosas Silver Project (First Majestic Silver Corp). The El Habal Project is near the historical Au-Ag Rosario Mine (Rosario Mine). The El Habal Project has many key features representing highly prospective regional structures with evidence of hosting multi-phase intrusive events in a volcanic sequence. El Habal contains multiple mineral occurrences and a rich history of shallow artisanal mining operations.
Mapping and recent drilling suggest the gold mineralization at El Habal was emplaced at a high crustal level and is associated with intrusion-related hydrothermal fluids. Stockwork systems mapped on surface, alteration zones, drill-confirmed mineralized breccias, structures and regional fault zones suggest a multiphase intrusive related system. The wide structural zones such as mapped along strike from 18-EH2 and 18-EH1, represent a target and model to support exploration opportunities along strike and down dip.
El Habal Project Ongoing Exploration - Higher grade gold results represent zones of more intensive brecciation and silicification. Drill results from these 2 holes have confirmed previously reported trench results, providing valuable information to support ongoing exploration. Further drilling will be required to determine continuity of the wide intersections and high grades reported in this news release. The Company is also expanding surface sampling along the 6 km prospective corridor in order to identify similar mineralization occurrences.
Thorough QA/QC protocols are followed at all sampling programs and assays completed by the Company. Goldplay's management includes routine duplicates, blanks and standard samples in assays lots for all surface samples and drill hole samples. The samples are submitted directly to SGS Laboratory in Durango, Mexico for preparation and analysis. Analysis are performed using fire assay method with atomic absorption spectrometry finish. Gold results over 5 g/t are routinely rerun using gravimetric finish. Multielement analysis is performed using ICP-AES.