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Goldplay Begins Drilling on past Producing Copper Mine in Portugal

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  • AUCCF

VANCOUVER, BC / ACCESSWIRE / November 8, 2021 / (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it has initiated drilling on the historical Aparis Copper Mine ("Aparis") in Portugal. The Aparis mine is part of the projects held by a private Portuguese company, Indice Crucial Lda ("Indice Crucial") on which Goldplay can earn up to 100% interest (see Company's news release dated June 23, 2021 for more details).

HIGHLIGHTS

  • Past producing underground copper mine (last produced in 1975 with copper price $0.55/lb. Project previously held by the government, with no work done since .

  • Mine located less than 160Km (over paved roads) from the Copper smelter in Huelva, Spain, owned by Atlantic Copper SLU.

  • Extensive vein system extending over 5 km along strike, open for exploration. Historic mine developed to a maximum depth of only 210m over 900m along strike.

  • Over 5000m of existing underground development

  • Over 3700 rock/channel samples taken underground assaying 2-18% Cu taken over 1-4.6m widths on 900m strike length.

  • Mine has access to power and local workforce.

  • The plant buildings and flotation mill remain on site.

  • 17 drill holes underground plus an unknown amount of surface drilling (from 1951 to 1969).

  • EM ground survey (TURAM) run in the early sixties picks out the vein system over more than 5 Km and identifies potential parallel zones.

  • Potential Silver credits (> 20 g/t Ag).

This initial drilling campaign for approximatively 1,000m and additional exploration work is focused on expanding and better defining the mineralization for a wider copper zone (> 1% Cu) within the Aparis shear zone that currently averages more than 10m in true thickness.

The Aparis deposit is a broad metalliferous (Cu-Ag) shear zone hosted in a Devonian turbidite sequence (Terena Formation). The mineralized system is interpreted to be genetically associated with a late-Devonian hypabyssal bimodal magmatic suite and breccia systems that also contain high-grade gold values in other target areas that are presently being assessed.

Catalin Kilofliski, Goldplay Mining President & CEO stated: "We are very pleased to begin drilling this very promising historical copper mine in Portugal. The project holds real potential to become an attractive mid-tier copper mine. I would also like to acknowledge the support received from the government and local community to date. From the moment that we have presented our work plans on the project, the local municipality in the town of Barrancos located just 14 Km from the Aparis mine has provided Goldplay with a fully furnished modern business office at no cost, as part of their efforts to support and encourage local economic activity. Portugal has a very well defined process in place to support mining activities that allowed us to begin drilling within approximately 3 months of planning. This proves that the Portugal government is serious about encouraging the development of mining projects within country, to feed a growing need of metal production within the European Union."

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Jose Mario Castelo Branco, Golplay's Exploration Manager, a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects. The readers should not rely on any historical estimates. The Company and the QP has not done sufficient work to verify any historical estimates. Additional work including drilling will be required to verify and upgrade historical estimates.

About Goldplay Mining

Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.

On behalf of the Board of Directors

"Catalin Kilofliski"
Catalin Kilofliski
President, CEO & Director

For further information please contact:

Goldplay Mining Inc.

Mr. Catalin Kilofliski, President & CEO
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
T: (604) 655-1420
E: catalin@goldplaymining.ca
www.goldplaymining.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration potential of the Properties. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, the lack of recent exploration work on the Properties, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE: Goldplay Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/671585/Goldplay-Begins-Drilling-on-past-Producing-Copper-Mine-in-Portugal