Goldplay Strengthens Portuguese Portfolio – Signs Definitive Agreement To Acquire Past Producing Copper Mine and Highly Prospective Gold Projects - Seite 2

1. Aparis Copper Mine

The Aparis Copper Mine ("Aparis") is a past producing underground copper mine that produced until 1975 when copper averaged just $0.55 per pound. The plant buildings and flotation mill remain on site.

The mine contains an extensive vein system. The system extends for over 3 km along strike and remains open for exploration. Historical underground results include:

• 47 metres averaging 3.09% Cu
• 40 metres averaging 3.04% Cu
• 62 metres averaging 2.21% Cu

The historic mine has been developed to a depth of just 150m and produced copper concentrate averaging up to 35% Cu. Along with Aparis, the area includes multiple other small scale copper and gold showing that deserve further investigation and modern exploration.

Foto: Accesswire

The planned drilling and exploration work will be focused on expanding and better defining the mineralization for a wider copper zones within the Aparis shear zone that currently averages more than 10m in true thickness.

2. The Lírio Gold Project

The Lirio Gold Project ("Lirio") is a very prospective and under explored gold system which has indications of being an extensive volcanic breccia gold system based on historical drilling, detailed surface sampling and the general geology of the area.

Historical sampling at Lirio have returned results of:

• up to 125g/t Au from chip samples and up to 7.7g/t Au from channel samples
• drill hole KBL-01 intersected 7.19 g/t Au and 0.63% Cu over 5.52 metres, including 17.8 g/t Au and 0.25% Cu over 2.03 metres

A very limited drilling campaign was carried out in 2008 by the Rio Narcea/Kernow joint venture, that intersected the mineralized zone below the main zone of the shallow underground workings.

Foto: Accesswire

Foto: Accesswire

Bigorne Gold Exploration Application

The Bigorne Gold Exploration Application ("Bigorne") is an exploration/concession application made by Indice directly with the Portuguese Government Mining Division. Bigorne is situated in northern-central part of Portugal and covers an area of 24 km². The main prospect includes a wide sheeted vein system, oriented N-S to NNE-SSW, hosted in Variscan granites from a suite of syn-to pos-tectonic intrusions.

A total of 15 historical holes have been drilled in several sections of the shear corridor with an indication of a bulk mineable potential as suggested by some of the best intercepts including: