SAN FRANCISCO, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Goldplay Exploration Ltd. (GPLY:TSX.V; GLYXF:OTCQB), a Canada-based company that has been focused on exploring its properties in Mexico, has released its maiden resource estimate at its flagship San Marcial project in the Rosario Mining District in Sinaloa.
Company mentioned: Goldplay Exploration Ltd.
"The maiden resource was completed by an independent qualified person, WSP Canada Inc., defining an open pit amenable Indicated and Inferred resource," Marcio Fonseca, Goldplay's president and CEO, told Streetwise Reports. "In doing so, the company has delivered a material increase in the tonnage, grades and ounces of silver in the maiden resource estimate."
The new, independent resource completed by WSP Canada derives a total resource of 47 million ounces (47 Moz) silver equivalent (Ag eq) Indicated and Inferred. It includes a "shallow, high-grade silver core zone (Breccia Zone), up to 40 meters in thickness, which represents 3.0 million tonnes at an average grade of 239 grams per tonne (239 g/t) Ag eq, 200 g/t Ag, equivalent to 23 Moz Ag eq and 19 Moz Ag, respectively," the company noted.
The maiden resource marks a substantial increase over Silvermex Resources' historical resource that was reported in 2008: a 59% rise in silver in the Indicated category, 103% increase in Indicated tonnes and a 126% increase in silver in the Inferred category. The silver equivalent amount increased 57% in the Indicated category and 44% in Inferred.
"The completion of our maiden Mineral Resource on the San Marcial Project is a major milestone for Goldplay. We have achieved a significant increase in the contained ounces of both Ag and AgEq. The Mineral Resource provides a strong foundation to realize the full potential of the San Marcial Project," Marcio Fonseca stated.
Continue reading this article: Resource Estimate Increases Silver 59% in Historical Mexican Mining District
About Streetwise Reports
Streetwise Reports shares investment ideas in many sectors. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
DISCLOSURE:
The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Goldplay Explorations. Click here for important disclosures about sponsor fees.
The full disclosure is provided at the article's end: Resource Estimate Increases Silver 59% in Historical Mexican Mining District