Goldplay Announces Initial Geological Interpretations from Airborne Geophysics and Satellite Imagery on The Scottie West Project
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Goldplay Announces Initial Geological Interpretations from Airborne Geophysics and Satellite Imagery on The Scottie West Project

Tuesday, June 8, 2021 8:00 AM
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Goldplay Mining Inc.

VANCOUVER, BC / ACCESSWIRE / June 8, 2021 / Goldplay Mining Inc. (TSXV:AUC), (Frankfurt:9FY), (the "Company" or "Goldplay"),is pleased to announce the initial interpretations from airborne geophysics and satellite imagery on its Scottie West project located in the Golden Triangle, British Columbia (BC), Canada.

The Scottie West project is located within the "Golden Triangle" of northwestern BC., approximately 7 kilometers from road access and power, 14 kilometres from Ascot's Silbak Premier mill site and 40 kilometres from the deep-water port of Stewart, BC.

Roughrider Exploration geologists spent one day on the southeast portion of the property in 2020 and discovered an extensive gossanous area with veining, diking and pervasive alteration. From the eight rock samples collected, one subcrop sample assayed 1.007 grams per tonne gold, 609.7 ppm arsenic and 5.45 ppm antimony. This area is referred to as the "Southeast Exposure".

Satellite Imagery and Airborne Geophysics Interpretation

Goldplay commissioned Pacific Geomatics to supply a 1 metre resolution digital terrain model (DTM) and a 0.3 metre resolution orthomosaic of the Scottie West property. Combining the airborne geophysics flown last year on the eastern portion of the claims and the BC government geology maps, the geological team has made interpretations relating to the geology and has targeted some of the more compelling structures, gossanous areas and potential alteration zones on the property. The identified targets are speculative in nature and will be ground-truthed with prospecting, geochemistry and geologic mapping in the upcoming 2021 field season.

Photos from 2020 program - top photo is of an extensive gossanous zone with multiple veins, bottom photo is of a felsic dike surrounded by gossanous host rocks

Figure 1 shown below displays the calculated vertical gradient magnetic map and includes the 2020 Scottie West airborne survey and the 2012/2016 Summit Lake airborne survey to the east, with interpreted structures overlayed.

Figure 2 displays the interpreted geology, with interpreted structures and alteration zones.

Both the magnetic map and the orthomosaic image display evidence of northeast trending and northwest trending structures. The Southeast Exposure target area appears to be an extension of the northeast trending structure that runs through the historic Scottie Gold mine 8 kilometres to the northeast. Many of the noted structures in the orthomosaic image are gossanous and are considered priority targets.

Much of the high country above 2100 metres is dominated by more magnetic stratigraphy, including the neighboring Summit Lake property. This is postulated to correspond with magnetite and hematite bearing epiclastic rocks of the Lower Jurassic Betty Creek Formation or possible basalts of the Iskut River Formation. At lower elevations the magnetic signatures are less pronounced and are interpreted to correspond to green feldspar phyric andesite and argillites of the Unuk River member of the Betty Creek Formation. A broad magnetic high anomaly occurs on the eastern boundary of the claims and relates to the mapped Jurassic Summit Lake stock. Other broad magnetic high anomalies occur and may represent further intrusive stocks and dyke swarms of either the Jurassic Summit Lake Stock or the Eocene Boundary stock.

Also evident on the orthomosaic image shown in figure 3 are broad, lighter coloured, gossanous areas including one immediately west of the mapped Summit Lake Stock in the Southeast Exposure area. This is also the site of the anomalous 1.007 grams per tonne gold subcrop sample taken last field season. This bleached area is interpreted to be the result of sericitic and chloritic alteration of the argillaceous rocks surrounding the Summit Lake Stock and as such is another prospective priority target.

Other noteworthy observations include the prospective north trending stratigraphic contact that separates the Triassic Stuhini Group from the Jurassic Hazelton Group occurs less than 2 kilometres north of the property. This transition has been informally referred to as the "Kyba Red Line" and many major deposits in the Golden Triangle have been shown to occur within 2 kilometres of this stratigraphic contact.

For the Summer 2021 field program, the geological team plans on ground truthing the interpreted targets and fault zones, as well as property wide geological mapping and prospecting. A grid talus fine geochemistry program is also planned for the southeast exposure in the vicinity of the coincident sericitic alteration of argillite and the subcrop sample that assayed 1.007 grams per tonne gold. Any promising discoveries will be chip or channel sampled.

Catalin Kilofliski, President and CEO of Goldplay Mining states "The Scottie West property is located among many past and present mines. It has many key prospective elements including the right geology and reasonable access. It has probably been overlooked in the past due to the amount of glaciation in the area. I am looking forward to seeing what the geologic team discovers this upcoming field season".

Qualified Person

The information in this news release is speculative in nature as very little ground work has been done to date. The scientific and technical information has been reviewed and approved by Mr. Andrew Wilkins, Golplay's BC Exploration Manager and Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.

About Goldplay Mining

Goldplay Mining is a newly listed Canadian public company which is focused on exploring and advancing gold-copper projects located in top mining jurisdictions with potential for world class mineral discovery.

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: [email protected]

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the potential listing of the company on a stock exchange, and other associated matters. 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. 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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