New Orogenic Gold Discovery by Goldplay at Goldstorm South Project, BC Returns 21.8 g/t Au

Rhea-AI Summary

Goldplay Mining has announced promising results from its 2021 field program at the Goldstorm South Project in British Columbia. The program revealed the Travler Gold vein system with an assay of 21.8 g/t gold and 20.6 g/t silver. Additionally, three gold showings were identified along a 2.6 km unexplored area connected to the regional Tchaikazan fault system. The Fly porphyry prospect showed copper grades of up to 1.77%. A drill permit has been submitted for further exploration in 2022, indicating potential for significant mineral discoveries.

Positive

• Discovery of Travler Gold vein system with 21.8 g/t Au and 20.6 g/t Ag.
• Three new gold showings found over 2.6 km of largely unexplored territory.
• Average copper grades of 0.71% confirmed at Fly porphyry prospect.
• Drill permit application submitted for further exploration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / January 21, 2022 / Goldplay Mining Inc. (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce results from its 2021 field program on the Goldstorm South Project ("Goldstorm South" or the "Project"), formerly referred to as the Niut Mountain Project, located within 4 km from road access and 20 km southeast of White Saddle Air Services Ltd.'s permanent helicopter base in the western Chilcotin District of southwestern British Columbia.

HIGHLIGHTS

• discovery of Travler Gold vein system, assaying 21.8 grams per tonne ("g/t") gold ("Au") with 20.6 g/t silver ("Ag") from grab sample
• three gold showings now known along a mostly unexplored, open 2.6 km extent of a subsidiary structure to the regional Tchaikazan fault system, an extension of the system associated with mineralization in the Bralorne gold camp
• 0.44 to 1.77% copper ("Cu") from six grab samples collected within a 260m area (yielding an average of 0.71% Cu), confirming mineralization at Fly porphyry prospect
• anomalous copper ± molybdenum in talus fines suggests extension of the Fly prospect 750m to north
• drill permit application submitted.

Catalin Kilofliski, Goldplay Mining President & CEO stated: "We are excited about our new gold-silver discovery along a mostly unexplored and highly prospective structure, and the confirmation of, and suggested continuity to, significant porphyry copper mineralization at Goldstorm South. We are anticipating an exciting 2022 exploration program on both our Goldstorm South and Big Frank Projects, based on the new discoveries made during our initial evaluation programs. A drill permit application for Goldstorm South has been submitted and a NI 43-101 Technical report has also been commissioned and will be available shortly."

The Project was optioned by Goldplay in 2021 based on the presence of favourable alteration and extensive gossans with known porphyry copper style mineralization (primarily the 1970's era Fly prospect), and gold bearing vein type mineralization (Harvey Gold, Fly Creek). This was quickly followed by an early September two day field program consisting of an initial examination and evaluation of the Fly porphyry prospect, the Niut Mountain, Harvey Gold, Fly (Creek) and Downs showings and the northwest extension of the Harvey Gold showing with the collection of 63 rock and 100 soil (talus fine) samples by 4 geologists across the 8 km long Project. Sample locations with thematically plotted gold and copper results are shown on Figures 1 and 2, with significant results from Goldplay's 2021 program labelled.

Orogenic Gold Zones (Harvey Gold, Fly Creek, new Travler Discovery)

The evaluation of the north-northwest extent of the Harvey Gold showing along the West Niut fault and follow up of quartz vein creek float, which returned 1.99 g/t gold ("Au") from a 1987 sample, led to the 2021 discovery of the Travler showing, which comprises an open 70 by 50m zone of quartz vein and stockwork mineralization in talus blocks, host by potassically altered quartz diorite about 1.2 km north-northwest of the Harvey Gold showing. Six rock samples (subcrop and float) collected from the showing ranged from 0.201 to 21.8 g/t Au, yielding an average of 6.16 g/t Au, accompanied by anomalous silver, lead and antimony. Goldplay's 2021 program also outlined anomalous gold in talus fines extending for 700m along the banks of Travler Creek and as a 300m cluster approximately 300m to the northwest of the Travler showing.

The Travler, Harvey Gold and Fly Creek vein/stockwork/breccia showings on the Project are all located along an open ended 2.6 km ? long trend and appear to be related to the West Niut fault, much of which remains largely unexplored. The West Niut fault is considered a subsidiary of the Tchaikazan fault, which represents the northwesterly extension of the fault system associated with mineralization within the economically important, orogenic type Bralorne gold camp (located about 140 km southeast of the Project and renowned as one of the highest grade, longest producing gold mines in British Columbia (https://taliskerresources.com/discover-bralorne-our-flagship/).

Porphyry Copper Molybdenum Zone (Fly Porphyry Prospect)

Samples by Goldplay along Fly Ridge in 2021 returned 0.44 to 1.17% Cu within a 260m area (yielding an average of 0.71% Cu) from the six rock grab samples collected, and returned an average of 0.105% Cu over 400m from ten consecutive talus fines, confirming significant copper mineralization at the Fly prospect. Anomalous copper of 395 to 698 ppm ± elevated molybdenum from Goldplay's 2021 talus fine sampling also extends for 200m along the southern bank of Travler Creek, about 750m north of the Fly prospect. Additionally the private report from the only drilling completed on the Project (1973 diamond drilling of 679.7m in five holes) was located. Previously only incomplete references to the program were in the public record. It was found that the entire core from holes VF-2 and VF-3 intersected significant anomalous intercepts of 0.081% Cu over 134.1m and 0.065% Cu over 133.8m, respectively comprising a 75 by 150m north-northwest trending zone, open in all directions.

The discovery of the Travler showing, the confirmation of significant porphyry copper mineralization and alteration at the Fly prospect (with evidence of continuity along trend) and the indication of additional porphyry style alteration (Niut Mountain) during the brief 2021 exploration program attests to the excellent potential for new discoveries on the Project.

Maps are available at the end of the news release and on the Company's website.

Stock Options Grant

The Company would also like to announce that that the Board of Directors granted a total of 1,400,000 incentive stock options to directors, management and consultants, subject to regulatory acceptance. Options to IR Consultants shall vest in accordance with TSX Venture Exchange policy and all other options for this grant will vest immediately. Options will allow the holder to purchase one common share in the Company at a price of C$0.145. The incentive stock options have a term of 5 years, expiring on the earlier of January 20, 2027 and when the option-holder ceases to be part of the Company's Board, management or consultant. Shares issued following the exercise of these incentive stock options will be subject to a four month hold period from the date of grant.

QAQC

All samples were sent to MS Analytical Laboratories ("MSALabs") in Langley, British Columbia for sample preparation and analysis. At the laboratory, rock sample preparation involved drying, fine crushing to better than 70% passing minus 2 mm, then pulverizing a 250g split to better that 85% passing 75 microns (PRP 910). Soil sample preparation involved drying and screening to minus 80 mesh (PRP-757). For the rocks the fine fraction was analyzed for gold by fire assay on a 30g aliquot with an atomic absorption spectroscopy ("AAS") finish (FAS-111), and for 48 additional elements by four acid digestion and inductively coupled plasma ("ICP") - mass spectroscopy ("MS") ultra trace level analysis (IMS-230). The fine fractions of the soils were analyzed for 39 elements, including gold, by aqua regia digestion and ICP-atomic emission spectroscopy ("AES")/MS ultra trace level analysis on a 20g aliquot (IMS-128). Quality control samples were regularly analyzed by the laboratory and include blanks, certified reference materials, and duplicates of crushed and pulverized material. MSALabs is ISO/IEC 17025:2017 accredited for the procedures performed.

Qualified Person

Jean Pautler, P.Geo., an independent consultant to the Company and aqualified Person within the context of Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects, examined the Project during the September 2021 exploration program and approved the technical information in this news release.

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.

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 Goldstorm South and Big Frank Projects, including planned future exploration programs. 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, results of exploration and development activities, management's discretion to revise proposed exploration programs, 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.

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https://www.accesswire.com/684875/New-Orogenic-Gold-Discovery-by-Goldplay-at-Goldstorm-South-Project-BC-Returns-218-gt-Au

FAQ

What are the key findings from Goldplay Mining's recent press release regarding the Goldstorm South Project?

Goldplay Mining reported a discovery of the Travler Gold vein system with assays showing 21.8 g/t gold and identified three new gold showings along a 2.6 km unexplored area.

What are the copper grades reported at the Fly porphyry prospect by Goldplay Mining?

Goldplay Mining's findings indicate copper grades at the Fly porphyry prospect range from 0.44% to 1.77%, with an average of 0.71%.

When did Goldplay Mining submit its drill permit application for the Goldstorm South Project?

Goldplay Mining submitted its drill permit application during their 2021 field program, with plans for further exploration in 2022.

What is the significance of the Tchaikazan fault system mentioned in the press release?

The Tchaikazan fault system is significant because it is associated with mineralization in the economically important Bralorne gold camp, indicating potential for high-grade mineral discoveries.