08 Feb Goldplay Releases Maiden Resource Estimate At San Marcial
Goldplay Exploration (TSXV – GPLY) has announced the release of its maiden 43-101 resource estimate for the San Marcial project in Mexico.
As expected, the resource was quite big with a nice grade.
In total, San Marcial came in at 47 million ounces of silver equivalent. That’s broken down into 36 million silver equivalent ounces at a grade of 147 g/t AgEq in the Indicated category and 11 million silver equivalent ounces at a grade of 99 g/t AgEq in the Inferred category. It’s nice to see the vast majority of the silver equivalent ounces in the Indicated category.
On top of that, in order to define a reasonable prospect of economic extraction, Goldplay constrained the deposit using a Whittle optimized pit shell and 42 million silver equivalent ounces (35 million Indicated and 7 million Inferred) fell in the open pit using a cut-off of 30 g/t AgEq.
All in all, a very good start for Goldplay Exploration. Being that the resource is only on a 500-meter section of a 3.5 km mineralized trend with further exploration throughout 2019, there’s a very good chance this grows into a change of control silver deposit in a very desirable, infrastructure-rich, area of Mexico.