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Silver Explorer Releases Maiden Resource Estimate for Mexico Project
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The totals are materially higher than the original, 2008 calculations.

Goldplay Exploration Ltd. (GPLY:TSX.V; GLYZF:OTCQB) announced in a news release that an independent NI 43-101 mineral resource estimate has been completed for its San Marcial project in Mexico and reflects a "substantial increase" over the previous, 2008 estimate by Silvermex.

"The mineral resource provides a strong foundation to realize the full potential of the San Marcial project," President and CEO Marcio Fonseca said in the release.

The estimate delineated a shallow, high-grade Breccia zone up to 40 meters thick. It represents 3 million tons, at an average grade of 239 grams per ton (239 g/t) silver equivalent (Ag eq) and 200 g/t silver (Ag), which equate to 23 million ounces (23 Moz) Ag eq and 19 Moz ag, respectively.

The total updated resource outlines Indicated resources of 36 Moz of Ag eq at an average grade of 147 g/t. Of the Indicated resources, the high-grade silver core, or Breccia, zone, accounts for 63%.

Inferred resources are 11 Moz Ag eq and have an average grade of 99 g/t.

These figures denote a significant increase in both silver and silver equivalent contained ounces. In the Indicated category, they were 59% and 57% higher, respectively than they were in the historical estimate of 2008. In the Inferred category, silver and silver equivalent ounces increased 126% and 44%, respectively.

In the Indicated category, the zinc resource went up 56% and the lead resource, 77%, both since 2008.

Of note is that 98% of the 36 Moz Ag eq Indicated resource is potentially mineable via open pit.

This maiden resource estimate for San Marcial, prepared by WSP Canada Inc., incorporated data from 52 drill holes in all, 22 core holes assayed during 2018 and 30 core holes used for the 2008 estimate.

Goldplay continues to explore the additional 3.5 kilometers of mineralized trend at San Marcial.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Goldplay Exploration. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Goldplay Exploration, a company mentioned in this article.

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