Goldplay Mining Signs Exploration Agreement with Portuguese Government on Several Past Producing Copper and Gold Mines in Portugal

2021-11-01 05:04:31

VANCOUVER, BC / ACCESSWIRE / November 1, 2021 / Goldplay Mining (TSXV:AUC) (OTCQB:AUCCF) (Frankfurt:9FY), (the “Company” or “Goldplay“), is pleased to announce that it has signed a mineral exploration/concession agreement (the “Agreement”) with the Portuguese government in relation to four projects which include: two past producing copper mines, one past producing gold mine and one gold exploration project (together, the “Properties”). The Properties have a well-documented area totalling over 320 sq kms. The Properties have the potential to host significant precious and base metals mineralization often enhanced by the presence of abundant gold and/or copper mineral occurrences.

The Agreement has been signed by Goldplay directly with the Portuguese government, through Goldplay’s Portuguese Company, EVX Portugal.

PROJECTS OVERVIEW

1. Miguel Vacas- Past Producing Copper Mine

  • Open pit copper mine (last produced in 1986/copper price ~$0.60/lb).
  • Open pit grades: of 1.2-1.4% Cu (past production), confirmed by channel sampling carried out by Rio Narcea Gold Mines which highlights an interval of 13.5m grading 1.6% Cu and 13.6m grading 1.6% Cu respectively from the northern and the southern pit faces .
  • Known mineralization traced for over 2.2 Km with less than 15% mined.
  • Historical near surface drilling by Colt Resources (Hole BOMV15-001) intercepted 1.79 % Cu over 11.63m, from 60m, including 3.35% Cu over 3.35,m from 64.93m,.
  • The project remains open for exploration.

Junior Mining Network

2. Mostardeira Copper-Gold Mine

  • Historically mined for Copper with most of the mining works concentrated along a high-grade Cu-Au sheer zone (from <2m to 5m) averaging over 5% Cu over smaller selected intervals.
  • Historic channel sample: 2.60m averaging 4.15 g/t Au, 0.40% Cu (including 0.60m averaging 11.20 g/t Au and 0.65 % Cu), and 3.60m averaging 2.40 g/t Au, 0.82 % Cu and 80 g/t Ag.
  • Rocks sampled up to 11.20 g/t Au.
  • Shear zone developed for at least 700 m along strike, open on both directions.

3. Bugalho Copper-Gold Mine

  • Dump samples assay up to 10.97 g/t Au, 5.36% Cu and 20 g/t Ag (in silicified and sheared acid tuffs).
  • Mineralization can be mapped about 5 km along strike and includes three main veins up to 1.3m thick within a several meter wide shear zone.
  • The project is open for exploration

Junior Mining Network

4. Almagreira Gold Prospect

  • This area Drilling has been identified by Rio Tinto during the early eighties
  • Limited historical drilling: 2.47m averaging 2.44 g/t Au; 2m averaging 3.7 g/t Au and 0.75m averaging 5.77 g/t Au.
  • The project is open for exploration.

Junior Mining Network

Catalin Kilofliski, Goldplay Mining President & CEO stated: “We are very pleased to have signed this new exploration concession agreement directly with the Portuguese government. The contract signing proves an important commitment of the Portugal government to encourage the advancement and development of mining projects within country in order to feed a growing need of metal production within the European Union. “

Junior Mining Network

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

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