Goldplay Mining (TSXV:AUC) (OTCQB:AUCCF) has intersected high-grade copper in drill results from the Phase 1 drilling programme completed at the Aparis Copper Mine in Southern Portugal.
The Aparis mine is part of the 73.2 sq. km Barrancos exploration license, and two other projects, held by a private Portuguese company, Indice Crucial Lda on which Goldplay can earn up to 100% interest.
Highlights
- Drill intercept: 1.18 % Copper (Cu) over 12.2 m from 207.0m, including 2.33% Cu over 5.50m and including 5.50% Cu over 2m.
- Discovery of a broad mineralized copper zone, immediately adjacent at depth to the old mining works
- Excellent exploration upside. Extensive copper mineralised vein system mapped over 2.5 km along strike, with potential to extend up to 5 km.
- Discovery of a gold-bearing structure, 140 m west of the copper zone, averaging 5.87 grams per tonne (g/t) gold over 2.0 m
- Historic Mine located less than 160Km (over paved roads) to a large copper smelter located in Huelva
“We are very excited with the results of our inaugural drilling program that confirm our belief that a copper mineralised system occurs at the Aparis mine that is much wider than the previous mining activities indicate,” President and CEO, Catalin Kilofliski, said.
“Furthermore, the discovery of a gold-bearing structure within 140 m of the copper zone further enhances the potential of the project.
“The Aparis copper mineralised system has been traced for 2.5 km through historical workings, surface exposures and historical geophysical surveys and early indications are this could be extended further providing us with an exciting advanced copper-gold project.
“Excellent infrastructure and an existing copper smelter nearby provide further benefits for project exploration and potential future development to feed Europe’s urgent needs for copper metal.”
Assay results have been received from all three diamond holes from the Phase 1 drilling campaign for a total of 824 m.
The objective of this initial Phase 1 drilling program was to better determine the overall width and expansion potential of the copper mineralised structures.
Kilofliski said the company’s initial objectives were fully accomplished. The results confirm the presence of a wide (>10m) copper mineralised envelope as indicated by the most recent results which include a 12.2m interval grading 1.18% Copper in hole GBA2103 with several sections of high-grade including 5.5m averaging 2.33% and including 2.0 m of 5.5% Cu.
In addition, a new auriferous zone has been identified 140 m west of the main vein system which returned 5.87 g/t Au over 2.0m in hole GBA2101.
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