Goldplay Mining (TSXV:AUC) CEO Catalin Kilofliski updated investors by announcing the acquisition of two major properties with district-scale potential for high-grade epithermal gold and copper deposits in British Columbia.
Goldplay Mining signed an option agreement with Cazador Resources to earn a 100 percent interest in two properties known as Big Frank and Nuit Mountain.
“We’ve announced the acquisition of these properties with grab samples assaying up to 126 grams per tonne gold and over 1 percent copper. The objective here is to really step up the game and be able to attract the interest of major companies,” Kilofliski said.
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The Big Frank property covers a 20 kilometer long favorable geological trend and is located approximately 285 kilometers northwest of Vancouver. The Nuit Mountain property covers an 8 kilometer long alteration trend and is located 170 kilometers southwest of Williams Lake.
“The deal is structured such that we initially spend our own money and then going forward requires millions of dollars to be spent on those projects because we need to spend to make a significant discovery. A geological setting and geological potential are realistically very, very encouraging here. So we are very excited about this,” added Kilofliski.
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