Looks like deathmatch with a survivalist edge
Update: An official trailer seems to have popped up now. We've added that video below.
Following yesterday's screenshots, we finally get an in-action peak at the The Last of Us, coming by way of Spanish gaming site Hobby Consolas. The mode looks to be a deathmatch variant, with a couple of things to take special note of. First, ammo seems to be very limited -- assault rifles that only come with ten shots. This seems to feed into a scavenging system, which at one point clearly shows one player looting a corpse, and later stopping to craft a Molotov cocktail.
There also seems to be an emphasis on stealth. Assuming Google Translate hasn't completely failed me, there's a full multiplayer preview on Hobby Consolas where the author seems to explain a listening mechanic, whereby players have to stop and listen with the R2 trigger, to get an outline of approaching, noisy enemies.
Asi es el multijugador de The Last of Us [Hobby Consolas]