Goldplay Exploration

V.GPLY, Goldplay Exploration, goldGoldplay Exploration is focused on the discovery of gold-silver deposits in the prolific Rosario Mining District, Sinaloa, Mexico. The Company’s flagship project is the advanced San Marcial Project – where Goldplay recently released its maiden NI 43-101 resource of 36 Moz AgEq (indicated) and 11 Moz AgEq (inferred).

Our exploration team has over 10 years of experience in the Rosario District with a record of successful discoveries, including the extension of Mako Mining Corp.’s “La Trinidad” mine, one of Mexico’s highest grade, open pit goldmines. Our 250+ sq. km. exploration portfolio covers some of the most prospective areas in the Rosario District.

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For more information please go to the Goldplay website.

Goldplay Announces its 2019 Drilling Program at its San Marcial Project in Sinaloa, Mexico

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce details of its 5,000 metre diamond core drilling program at the San Marcial Project (the “Project”) in the Rosario Mining District, Sinaloa, Mexico. The objective of the 2019 program will be three-fold: to expand the current NI 43-101 silver (“Ag”) resource by drilling the Faisanes target; to define a new gold (“Au”) resource at the Nava target;  and to investigate newly discovered zones along the Faisanes-Nava Corridor (Figure 1).

The drilling program will be comprised of two phases. During Phase I, approximately 5,000 metres of shallow drilling (250 m to 300 m) will be completed aiming to define shallow down dip and along strike continuity of mineralization already outlined by recently completed surface exploration and sampling programs. At the Faisanes target, the drilling will focus on wide intersections at surface located adjacent to the existing San Marcial resource area. It will investigate down dip and along strike extensions of high grade silver mineralization, including 56 m @ 196 g/t Ag (see News Release February 21, 2019), as well as mineralization recently identified in trenches along a strike length extending 600 m to the west of the San Marcial resource area (Figure 2). The 600 m long Faisanes target compares with the 500 m strike length of the San Marcial resource area, which represents an immediate opportunity for resource expansion.

At the Nava target, the recently discovered wide gold mineralization, 40 m @ 0.7 g/t Au (see News Release May 7, 2019), represents a low sulphidation epithermal system with a potential strike length of 500 m. The proposed shallow drilling program will investigate down dip and along strike continuity of the mineralization in the zone defined by Goldplay’s recent trenching (Figure 3), and later expand 400 m towards the western extension of the mineralized zone.

The Company anticipates drilling other highly prospective areas in the Faisanes-Nava Corridor where there is evidence of a favorable geological setting to host Au-Ag mineralized zones associated with old workings.

The Company is fully permitted to drill up to 69 drill holes and has obtained all land access and legal permits to carry out all exploration activities including drilling at the San Marcial Project. Subject to results of the Phase I drilling program described above, the company is anticipating further drilling in late 2019 and early 2020 with a Phase II drilling program. The Phase II will aim not only to expand the Au and Ag mineralization further down dip and along strike, but also to investigate eight exploration targets located along a 6 km trend outside of the 500 m long San Marcial resource area (Figure 4).

Goldplay President and CEO Marcio Fonseca commented, “Goldplay’s strategy for San Marcial is to achieve a material increase in the high-grade resources by drilling the new targets in the vicinity of the current resource over the next six months. The Company has built a robust and attractive high-grade silver, potentially open pit, project and the recent discovery of Au targets has transformed the San Marcial Project into a multi-commodity resource-development stage project. Our successful exploration program has enabled Goldplay to discover eight targets in a short period of time, making the San Marcial Project one of the most attractive projects in the Rosario Mining District. We look forward to moving forward with drilling and exploration with the goal of identifying significant tonnage of high-grade material which will continue to dramatically improve the attractiveness of the San Marcial Project.

The Company has engaged a drilling contractor to immediately commence drilling on the San Marcial property. This initial drilling program is expected to be for up to 5,000 meters at the newly discovered Faisanes and Nava targets. Subject to the approval of the TSX.V, the Company intends to issue common shares to the drilling contractor for the services provided in regard to this Phase I work program, with the number of shares and share price being determined at the market price at the time the work has been completed, in compliance with the policies of the TSX.V.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current focus includes resource expansion at the San Marcial Project, as well as a follow up exploration program in the 100% owned exploration portfolio. Goldplay is one largest concession holders in one of the most prolific mining districts in Mexico, controlling strategic concessions next to large gold and silver producers in Mexico.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. It is a low risk resource development stage project, fully permitted for all exploration activities and with support and authorization by local communities to carry out all necessary work on the project.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

http://www.goldplayexploration.com/

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Surface Channel Sampling at Nava Zone Returns Wide Gold Intersection 40 m at 0.7 g/t Au Including 6.0 m @1.9 g/t Au

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce wide gold intersections in the Company’s first two surface trenches sampled to confirm the continuity and geometry of the low sulphidation epithermal gold mineralization that returned previously up to 10 g/t Au from channel sampling in underground tunnels at the Nava Zone discovery (see News Release dated 16 April 2019).

The Nava gold (Au) discovery is located approximately 1.5 kilometres to the west (Figure 1) of the San Marcial NI 43-101 silver resource (see News Release dated 7 February 2019), supporting an attractive mineralized corridor for discoveries and potential resource expansion within the San Marcial Project. The Nava discovery is a zone with pervasive hydrothermal alteration (silicification + hematite), at least 500 meters long x 100 m wide, hosting banded quartz veining and stockwork mineralization.

Wide zones (up to 1.5 g/t Au) of oxide material were encountered in both trenches, as characterized by a 13 m interval averaging 1.17 g/t Au in SMtr-003 (Table 1). Locally, there are high grade 1 m intervals supporting an attractive low sulphidation epithermal system. Some of the assayed 1m intervals have returned up to 3.14 g/t Au in SMtr-002 and 4.28 g/t Au in SMtr-003 – this latter result falling within a 4 m interval at 2.41 g/t Au.

The continuity of gold mineralization supported by continuous channel sample results allied with favorable geological setting indicates high exploration potential for gold over a wide area in the Nava zone measuring 600 m along strike and 40 m wide (Figure 2). This is demonstrated by SMtr-003, where the entire 40 m length of the trench averaged 0.70 g/t Au (Figure 3).

Goldplay President and CEO Marcio Fonseca commented, “The Nava Zone, located to the west of the San Marcial resource, is shaping up to be a potentially significant low sulphidation epithermal gold target. Geological mapping and geochemical data indicate evidence of gold mineralization at the upper portion of a large low sulphidation epithermal system, opening opportunities for upcoming drilling to delineate future areas for resource definition. In addition , the presence of high-grade individual results in wide mineralized zone and presence of visible gold as recently announced from channel sampling in historical tunnels at Nava, encourages the Company to continue exploration at Nava.

Although still in the early stages of discovery, the Nava Zone has the potential to make the San Marcial Project a true multi-commodity project, adding opportunity to expand resource to the already defined high grade silver NI 43.101 resource. The strike length of the current NI.43,101 resource zone is 500 m, hosting 36 million ounces of Ageq (“Indicated”) and 11 million ounces of Ageq ( Inferred), ( San Marcial Project, Resource Estimation and Technical Report, February 07, 2019, Todd Mcccraken, P.Geo, Marcelo Filipov, P.Geo ). The Company has been successful due to exploration potential at the San Marcial Project to materially increase the resource in a short period of time and it is continuing surface exploration program along the remainder of the 1.5 km mineralized corridor west of the NI 43.101 resource area connecting Faisanes and Nava Zones (“Faisanes-Nava corridor”). Recent surface exploration results have provided field evidence that support there is a continuous structural mineralized trend of a total strike length of at least 4.0 km, including the current NI 43.101 resource area , Faisanes– Nava Corridor and recently defined exploration targets to the east of the current NI 43.101 resource area”.

Table 1 Nava Zone – Gold results from Trenches SMtr-002 and SMtr-003

Trench

From (m)

To (m)

True Thickness
(m)

Grade Au
(g/t)

Cut-off grade
Au (g/t)

SMtr-002

24.0

41.0

17.0

0.49

0.2

including

26.0

30.0

4.0

1.07

0.5

44.0

56.0

12.0

0.62

0.2

Including

49.0

50.0

1.0

3.14

1.0

and

55.0

56.0

1.0

1.26

1.0

SMtr-003

0.0

40.0

40.0

0.70

0.2

0.0

13.0

13.0

1.17

0.2

including

5.0

13.0

8.0

1.62

0.5

including

7.0

13.0

6.0

1.91

1.0

34.0

38.0

4.0

2.41

0.5

including

34.0

37.0

3.0

3.03

1.0

Channel lengths are measured along each trench commencing at the southern end. Channel thickness is estimated to approximate true thickness as the orientation of the mineralization is perpendicular to the trenches and sub-vertical. All numbers are rounded. Mineralized zones are calculated allowing for maximum 1 m of internal waste, using the stated cut-off grades.

The Nava Zone consists of a set of NE trending mineralized quartz veins, as well as a zone of intense stockwork (Figure 2). The veins are interpreted to be in a low sulphidation regime and hosted within a porphyritic dacite and an andesitic tuff unit, in proximity to the contact with an underlying dacite-rhyolite volcanic package (Figure 4). The geological setting supports presence of Dacite domes in a typical low sulfidation epithermal system. The Nava Zone has no previous drilling.

The Company has placed a high priority on exploration activities in the Nava Zone following this  gold discovery supported by 600 m strike length and wide  width of gold mineralization allied with a  pervasive alteration & intensive stockwork system. This  defines potential open pit target for future drilling & resource definition.

Geological mapping and additional channel sampling will be carried out to also test for extensions of the mineralization along strike to the NE and SW. This exploration program will  also include the stockwork zone located 300m to the west of the tunnels (Figure 2). It is anticipated that the current activities will lead to a preliminary drilling program to test the depth continuity of the gold mineralization at Nava.

The Company continues to advance surface exploration at other targets at the San Marcial Project as identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, which is adjacent to the NI 43 101 Mineral Resource, representing immediate opportunity for additional resource expansion. Goldplay has already received drilling permits to advance a significant drilling program in 2019 and fully authorized by local communities (“Ejido”) to carry out all exploration activities in the San Marcial Project.

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current focus includes resource expansion and exploration at the San Marcial Project, as well as a follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. It is a low risk resource development stage project, fully permitted for all exploration activities and with support and authorization by local communities to carry out all necessary work on the project.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

http://www.goldplayexploration.com/

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Goldplay: Developing the District

Goldplay’s (V.GPLY) San Marcial project consists of 1,250 hectares, located south of the La Rastra and Plomosas historical mines in one of most important multi-million ounces (Au-Ag) mine district in Sinaloa – Mexico. It is a large concession and Marcio Fonseca, the company’s President and CEO, together with Goldplay’s team based in the regions are driving the exploration program towards discoveries of large Au-Ag deposits.

In its press release of April 16, Goldplay reported successful results from its efforts to approach the exploration program on a district scale with the discovery of new Au target at  Nava, a new target zone just 1.5 km west of the high-grade-potential open pit hydrothermal breccia-hosted 43-101 silver resource.  This delineates a multi-commodity opportunity in the concession for the definition of drill targets aiming resource expansion in the short term.

In the release, Fonseca states, “Over the past months Goldplay has actively explored the 1,250 ha of the San Marcial concession with soil, rock chip and channel sampling, identifying and testing targets that will add value to the San Marcial silver resource, by expanding or discovering new mineralized zones. High-grade gold results with visible (panned) gold from epithermal quartz veins within artisanal tunnels in the Nava Zone provide 2 encouragement for a gold mineralized low sulphidation epithermal system.”
V.GPLY, Goldplay, gold, Mexico

The Nava target was identified by Goldplay’s geologists when the concession was acquired. “We did our due diligence,” said Fonseca. “We walked the whole property and we knew the gold was there. But we decided to begin with the silver. As we were developing the 43-101 silver resource our geos realized the connection between Nava and the resource area, defining a 1.5km long corridor with at least 14 old shallow workings and it clearly defined the immediate “blue sky”. An opportunity to continue discovering and expanding the resources with now Au and Ag mineralized zones – high grade and close to surface.

“it is known, that the artisanal miners were chasing super high-grade veins,” said Fonseca. “Artisanal miners are very good prospectors. They show the gold was there. They’re not stupid.”

Not stupid and the artisanal miners worked hard. They carved three tunnels, two quite close to each other, the other on the opposite side of the hill. For Goldplay, these recent hand cut tunnels offered an opportunity to take samples from deep within the hill, and connect the dots defining a wide mineralized epithermal system.

“We went to the top of a tunnel and we collected material,” said Fonseca. “We crushed the material on site and we were able to pan the free gold it contained”.V.GPLY

In addition to the tunnels there are also several pits which have been dug and which indicate the presence of enough gold to interest the artisanal miners and, therefore, Goldplay.

When I first interviewed Fonseca in July of 2018, he told me that with his background as a geologist/engineer and an investment banker, he was always asking the question, “Is this a mine?” With the Nava target the question is, “Is this an open pit target?”

To answer that question Goldplay is going to trench across the mineralization at Nava. “We want to try to expand beyond the 500 meters of already known target size,” said Fonseca. “We are trenching right now and we hope to have the results in the next couple of weeks.”

Asked if Goldplay would be drilling Fonseca was cautious. “We’re at the sampling stage right now. We have permits to drill but we will wait to finish the trenching, compile all results and de-risk the exploration by making sure we have a good understanding of the mineralization and potential.”

However, the larger picture is about understanding the concession as a district scale play with a variety of deposits. “We have five other good targets to sample,” said Fonseca.

Here is where Goldplay is really going. With a large concession with 6 kilometer of mineralized trend inside it and numerous targets, the company is likely to be on the path for discoveries. These targets can all be accessed from Goldplay’s camp and they are all highly prospective.

Fonseca makes no bones about looking for one or more large companies already looking closely at all Goldplay’s recent success. “The big companies want size & economics,” said Fonseca. “At our 43-101 silver deposit we are looking at the edges. Sampling. Defining new mineralization close to the resource to multiply our 47 M oz AgEq to higher numbers.”

With the expansion of the existing resource and the work on additional resources in hand, Goldplay is becoming attractive to larger companies. “We’re signing non-disclosure agreements,” said Fonseca.

Driving towards a district scale project means that Goldplay has attracted the attention of larger companies. Adding ounces to the current NI 43 101 is one way to grow the district, but adding an entirely new, undrilled gold prospect at the other end of the concession creates the potential the market may be looking for.

Fonseca has been around the mining business and the capital markets long enough that he knows that flat markets can suddenly become exciting markets. Patience, size, keeping the finances on track and consistently adding ounces will all put Goldplay in position when the markets finally take off.

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Goldplay Discovers New Gold Zone At San Marcial In Low

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that as a result of its ongoing surface exploration at the San Marcial Project, initial channel  samples indicate a new gold (Au) discovery the Nava Target. The new gold discovery is located approximately 1.5 kilometres to the west of the San Marcial silver NI 43 101 resource (see News Release dated 7 February 2019), within an area currently showing an extensive hydrothermal altered zone, 500 meters long x 100 m wide, hosting low sulphidation intensive quartz veining and stockwork mineralization..

Recent and historical artisanal tunnels in the Nava Zone were channel sampled by Goldplay, with assay results up to 10 grams per tonne (g/t) Au received from a set of sub-parallel quartz low sulphidation epithermal veins. Visible gold has been observed in panned quartz vein samples from some of the channel samples in the Nava Zone (Figure 1). The Nava Zone is one of the priority targets that was identified by Goldplay earlier this year (see News Release dated 18 January 2019) and is located at the western extent of the Faisanes-Nava structural trend (“Faisanes – Nava Corridor”) which leads from the San Marcial silver resource (Figure 2).

The Nava Zone consists of a prominent hill with historical artisanal workings, including numerous shallow pits. In addition to the pits, three old tunnels, that follow a series of sub parallel NE-SW trending quartz veins, were re-opened (Figure 3). Two of the tunnels have been worked recently by artisanal miners, extracting gold-rich quartz vein material. These two of the tunnels are on the west side of the hill (T-003 and T-004), located approximately 30 m apart, with evidence of not only quartz veining but also stockwork systems between them. The third tunnel (T-005) is on the east side of the hill approximately 160 m away, along the NE strike of the veins, with evidence of connection with T-004. Shallow pits are scattered in the area between the tunnels, demonstrating potential for definition of wide mineralized zones on surface.

Goldplay President and CEO Marcio Fonseca commented, “Over the past months Goldplay has actively explored the 1,250 ha of the San Marcial concession with soil, rock chip and channel sampling, identifying and testing targets that will add value to the San Marcial silver resource, by expanding or discovering new mineralized zones. High grade gold results with visible (panned) gold from epithermal quartz veins within artisanal tunnels in the Nava Zone provide encouragement for a gold mineralized low sulphidation epithermal system, just 1.5 km west of the high-grade hydrothermal breccia-hosted silver resource. The new Nava Zone gold discovery suggests that the San Marcial Project has potential to be a significant multi-commodity play, with proven occurrence of gold and silver mineralization together with series of old artisanal mine workings on the Faisanes – Nava Corridor. We are focused on additional sampling and trenching at Nava to define the extent and geometry of the gold mineralization, on surface, and identify targets to follow up with drilling.”

The Nava Zone consists of a set of NE trending mineralized quartz veins, as well as a recently discovered new zone of intense stockwork and associated alteration located approximately 300m to the west (Figure 3). The veins are interpreted to be in a low sulphidation regime and hosted within a porphyritic dacite and an andesitic tuff unit, in proximity to the contact with an underlying epiclastic volcanic package (Figure 4). The Nava Zone has no previous drilling.

Results range from 1.04 g/t up to 10.0 g/t Au from channel sampling across quartz vein material in the tunnels (Table 1 and Figure 4).

Channel samples from the Nava tunnels were collected with a rock saw, typically perpendicular to the strike of the major structures/veins being tested. The samples were sent to the SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico where they were analyzed for gold using fire assay, and multi-elements (including silver) using ICP. Results from the other elements analyzed in the laboratory process are currently being reviewed.

Follow up Exploration

The Company has placed a high priority on exploration activities in the Nava Zone following this recent new gold discovery. Current exploration activities include surface trenching to expose the mineralized veins as well as local quartz stockwork material (Figure 5), particularly in the main hill area in between trenches T-003 and T-004 on the west, and T-005 on the east side. This area has numerous historical surface pits. Geological mapping and additional channel sampling will be carried out to also test for extensions of the mineralization along strike to the NE and SW. This current exploration also includes the stockwork zone located 300m to the west of the tunnels (Figure 3). It is anticipated that the current activities will lead to definition of drill targets to test the depth continuity of the gold mineralization at Nava.

The Company continues to advance surface exploration at other targets on the San Marcial Project as identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, are yet to be drilled and are located in the vicinity of the NI 43 101  Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, to expand resources at the San Marcial Project, as well as a follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.                                          

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

 

 

 

 

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Goldplay Announces Positive Metallurgical Recoveries from Initial Test Work at San Marcial

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce initial metallurgical results from test work on the San Marcial Project in Sinaloa, Mexico. Unoptimized results demonstrate that the high-grade silver mineralization at San Marcial is amenable to standard cyanidation processing with recoveries ranging from 82% to 92% silver.

The metallurgical test program was planned using sample comminution and processing criteria similar to standard operations which use a CCD-Merrill Crowe processing facility. The metallurgical test was carried out with 146 kg of drill core sample material, comprised of Breccia and Stockwork mineralization from the recently announced resource area (see News Release dated 7 February 2019). The samples also represent oxide, transition and sulphide zones distributed along the 500 m length of the resource, as well as down dip. Based on the high recoveries and amenability for a standard CCD–Merrill Crowe processing flowsheet, the Company has planned further metallurgical test work in 2019.

Goldplay President and CEO Marcio Fonseca commented, “These excellent metallurgical results represent another milestone completed at the San Marcial Silver Project, increasing the significance of this deposit as an emerging high grade potential open pit development with a standard leaching metallurgical flow sheet. The preliminary 96 hour bottle roll test work, encourage the company to pursue further metallurgical test work in 2019 with the objective to obtain more detailed information to support future engineering studies and further optimize the results”.

This initial metallurgical test work was completed by Base Metallurgical Laboratories (“Basemet”) in Kamloops, BC, Canada, with the following program:

  • 74 drill core samples selected at a wide range of locations inside the mineralized zone, at different elevations and coordinates, representing the oxide, transition and sulphide mineralized material, with a total of 146 kg, were delivered to Basemet.
  • Each group of samples was composited according to its location in the oxide, transition and sulphide zone, respectively, with test work carried out individually for each composite zone sample.
  • Comminution, mineralogy and preliminary leach tests were completed for all three composite samples.
  • Flotation optimization tests to investigate the production of a lead and zinc concentrate and settling tests have not been completed.
  • Optimized leach tests are currently ongoing.

The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, President and CEO of Goldplay, who has reviewed and approved its contents.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a NI 43-101 resource estimate has recently been disclosed (see News Release dated 7 February 2019).

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.                                                

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

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Goldplay Discovers High-Grade Silver Zone in the Faisanes Target – 56 Metres @ 196 Ppm Silver, Including 15 Metres @ 472 Ppm Silver

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce high grade silver (Ag) results from a trench extending silver mineralization from the resource area to the Faisanes target (Figure 1) at the San Marcial Project, located in Sinaloa, Mexico. Goldplay recently announced a NI 43-101 resource for the San Marcial Project (see News Release dated 7 February 2019) and is undertaking exploration on the remainder of the concession to identify additional resources along the 3.5 km mineralized trend.

The SMtr-001 trench is located in the northwest of the San Marcial Resource Area, in the Faisanes target (Figure 2), and it has a length of 113 metres, extending the mineralized zone from the resource area on the footwall of the deposit. Faisanes is a new target that was identified by Goldplay during recent surface exploration activities (see News Release dated 18 January 2019).

Channel sampling of the trench has identified a broad area of mineralization with a true thickness of approximately 56 metres, and the mineralization has a similar orientation to the adjacent resource, trending northwesterly, parallel to the high-grade Breccia zone in the resource area. This 56 m broad zone contains an average grade of 196 g/t Ag (Table 1, Figure 3). Within that broad zone of silver mineralization, two separate high-grade zones exist, representing potential open pit amenable zones for future drilling. The first zone is estimated to have a true thickness of 15 m at 472 g/t Ag and the second zone is estimated to have a true thickness of 14.6 m at 211 g/t Ag.

V.GPLY, Goldplay Exploration

Goldplay President and CEO Marcio Fonseca commented, “These excellent silver results from trench SMtr-001 are highly encouraging as Goldplay strives to expand the silver resource at the San Marcial Project. The high-grade silver results suggest that mineralization from the resource area may be continuous into the adjacent Faisanes area, with definition of parallel zones, which would validate discoveries of new mineralization encountered in the footwall of the deposit when logging and assaying historical drill holes in the second half of 2018. The trench displays significant widths of high-grade silver mineralization at surface, supporting the upside potential to expand the resources in the near future. We are currently planning additional trenches to follow up the mineralization identified at Faisanes along strike to the west-northwest.

Channel samples from SMtr-001 were collected with a rock saw, typically on 1 m continuous intervals, unless prevented by access. The samples were sent to the SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico where they were analyzed for gold using fire assay, and multi-elements (including silver) using ICP. Results from the other elements analyzed in the laboratory process are currently being reviewed.


The San Marcial Mineral Resource has been estimated along a 500 m strike length which makes up part of a 3.5 km long mineralized zone, supporting potential for resource expansion.

The Company continues to advance surface exploration at the San Marcial Project, focusing on the five targets recently identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, are yet to be drilled and are located in the vicinity of the Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

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Dirk Diggler on Goldplay

It must be Goldplay week on mining media. First I write and article and then Dirk Diggler does an extensive backgrounder at EquityGuru.

Go read the whole thing. Dirk and I agree that Marcio Fonseca has an amazing resume.

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Goldplay: Maiden Resource Estimate

When you are speaking with Marcio Fonseca you actually hear two different voices: the first is the measured voice of a professional geologist on the trail of a discovery, the second is the seasoned voice of an investment banker fully aware of the economics of mining.

As expected, on February 7, Goldplay Exploration (V.GPLY) released its maiden 43-101 resource estimate on its San Marcial silver Project, located in Sinaloa, Mexico. The geological substance of the report is, “The Mineral Resource consists of 36 million ounces of silver equivalent (“AgEq”)2 at an average grade of 147 grams per tonne AgEq in the Indicated category and an additional 11 Moz AgEq at an average grade of 99 gpt AgEq in the Inferred category”.

Asked if he was surprised by the result, Fonseca is very clear. “I was not surprised that the resource increased from the historical resource going from 22 million ounces to 39 million ounces.”

“We worked hard to really define the high-grade Breccia,” said Fonseca. “We were seeing 200 gpt and we estimate that the breccia holds 19 million ounces. This is a very high value per ton rock. We’re estimating that it will have an all in cost of between $30-35 which leaves a good, fat, margin.”

In the press release, Fonseca is quoted as saying, “The Mineral Resource provides a strong foundation to realize the full potential of the San Marcial Project. We are progressing with detailed, systematic exploration of the under-explored additional 3.5 km of mineralized trend. Recent surface exploration results have already confirmed new exploration targets in the vicinity of the mineral, representing future upside opportunity for resource expansion in 2019.”

It’s here that Fonseca’s investment banker side comes to the fore. “We’re moving from an exploration company to a development company,” said Fonseca.

The point of the maiden resource estimate was to gain a thorough geological understanding of a section of the mineralized corridor Goldplay controls. “There is much more than the five hundred meters,” said Fonseca. “We have targets and we want to do more trenching and do more holes. But trenching rather than drilling holes will help preserve our capital. We have the permits to drill.”

“We know that there is much more than the 500 meters,” said Fonseca. “Now we need to show the market that we are not constrained. And we need to show people that the project will make a lot of money.”

“Where we go next is to build the business case and show that there is future upside,” said Fonseca. “We want to become attractive to a strategic partner.”

Building that case and releasing a maiden resource estimate also drew market attention to a company which has been flying under the stock market radar. “When we put out the release the stock went up,” said Fonseca. And then, a few days after the release, the stock went back down. “We building a base case at $0.25,” said Fonseca.

The maiden resource estimate is a step along the way to that base case. “We hope, by the end of February, to have a metallurgy report and then we’ll start working on a mine plan,” said Fonseca. “In six months we’ll have expanded the area. But we want to do things at low cost.”

Fonseca can see the need to drill more holes but he is in no hurry to incur the expense. “We could drill more holes and drill deeper but we are really trying to develop an open pit.”

Because it is Mexico the question of security always comes up. “Where we are is very stable. We’re not in a remote area,” said Fonseca. “We’ve had no trouble and we have not seen any big changes.”

While Goldplay is going “step by step”, it is taking those steps quickly. The company optioned the property in May 2018. It sampled historical results as it waited for its drill permits which were granted in October. Five months later Goldplay has a significant 43-101 compliant maiden resource.

Fonseca learned one thing as an investment banker: time is money. He’s wasting no time at all.

 

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Goldplay announces its maiden mineral resource, containing 36 million oz AgEq (indicated) and 11 million oz AgEq (inferred), at the San Marcial Project

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce the completion of an independent NI 43-101 mineral resource estimation (“Mineral Resource”), for the San Marcial Project, located in Sinaloa, Mexico. Goldplay’s maiden San Marcial Mineral Resource is a substantial increase from the historical resource completed by Silvermex Resources Inc. in 2008 (“Historical Resource”)1 and reported by Goldplay on 18 April 2018.

Figure 1 Location Breccia and Stockwork Zone in the San Marcial Resource Area
Figure 2 San Marcial – Location of Resource Area and New Targets Inside Concession

The Mineral Resource consists of 36 million ounces (“Moz”) of silver equivalent (“AgEq”)2 at an average grade of 147 grams per tonne (“gpt”) AgEq in the Indicated category and an additional 11 Moz AgEq at an average grade of 99 gpt AgEq in the Inferred category, using a 30 gpt AgEq cut off for open pit and 80 gpt AgEq for underground resource classification completed by WSP Canada Inc. on February 07, 2019. The Mineral Resource includes 22 core drill holes (assayed during 2018) in addition to the 30 core drill holes that were used to estimate the Historical Resource in 2008.

Highlights of the Mineral Resource (Table 1) and comparisons with the Historical Resource include:

  • A shallow, high-grade Ag core zone (“Breccia Zone”), up to 40 m in thickness (Figure 1). It represents 3.0 million tonnes at an average grade of 239 gpt AgEq, 200 gpt Ag, equivalent to 23 Moz AgEq and 19 Moz Ag, respectively (Table 2)
  • The Breccia Zone represents 63% of the Indicated Resource category
  • A 59% increase in Ag in the Indicated category compared to the Historical Resource
  • A 126% increase in Ag in the Inferred category
  • A 57% increase in AgEq in the Indicated category
  • A 44% increase in AgEq in the Inferred category
  • A 103% increase in Indicated tonnes
  • 98% of the 36 Moz AgEq Indicated Resource is potentially mineable by open pit
  • A 56% increase in Zn and a 77% increase in Pb in the Indicated category
  • A broad peripheral mineralized zone (“Stockwork Zone”) (Figure 1)
  • Increased continuity of the mineralization along strike as well as down-dip, delineating a continuous ore zone along the 500 m strike. Both the Breccia and surrounding Stockwork Zones outcrop at surface. Significant surface exposures of the mineralization support the potential for future definition of an open pit amenable Ag-Zn-Pb mining project.

Goldplay President and CEO Marcio Fonseca commented, “The completion of our maiden Mineral Resource on the San Marcial Project is a major milestone for Goldplay We have achieved a significant increase in the contained ounces of both Ag and AgEq. The Mineral Resource provides a strong foundation to realize the full potential of the San Marcial Project. We are progressing with detailed, systematic exploration of the under-explored additional 3.5 km of mineralized trend. Recent surface exploration results have already confirmed new exploration targets in the vicinity of the mineral resource (Figure 2), representing future upside opportunity for resource expansion in 2019. The significant increase in the Mineral Resource including delineation of a high-grade shallow Breccia Zone (Figure 1), represents an attractive target amenable for potential open pit development, and is open along strike as well as down dip, given most of the core drilling to date has only tested down to 250 m below the surface. Goldplay congratulates its technical team for achieving an impressive increase in the Mineral Resource at San Marcial, when compared to the Historical Resource1 (see: http://goldplayexploration.com/wp-content/uploads/2019/02/GOLDPLAY-NewRel-April18th2018Final.pdf)

Goldplay retained the services of WSP Canada Inc. to complete the 3-D modeling and independent NI 43-101 Mineral Resource estimation for the San Marcial Project. In doing so, the Company has delivered a material increase in the tonnage, grades and ounces of Ag in the Mineral Resource with the addition of 22 holes to the previous model, for a total of 52 drill holes.

_______________________

1 The historical NI 43-101 resource estimate is based on a cut off of 30 g/t Ag for open pit and 80 g/t Ag for underground resource classification completed by Micon International Ltd. for Silvermex on November 5, 2008. The historical resource is based on 4,884 m of drilling in 30 core drill holes completed by Silvermex and previous operators over a strike length of 500 m and vertical extent of 250 m. A qualified person has not done sufficient work to verify and to classify the historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources. Further work must be carried out to verify all historic information before a resource estimate is possible, and there can be no assurance that when established, that any such resource would be economically recoverable. The NI 43-101 was filed on SEDAR on November 21, 2008 under the name of Silver Ore Mining Corporation, the predecessor of Silvermex.

The increased Mineral Resource in comparison with the Historical Resource is summarized as follows:

  • Total silver equivalent ounces, Indicated Resources, increased 57% to 36 million ounces.
  • Total silver ounces, Indicated Resources, increased 59% to 29 million ounces.

The drill holes are spaced on average 45 m between sections, along an initial 500 m long mineralized zone, and drilled to a maximum depth of 250 m. The Mineral Resource was estimated by ordinary Kriging using Surpac block modelling software in multiple passes in 3 m by 3 m by 3 m blocks. Grade estimates for all elements were based on 3 m composited assay data. Capping levels were set as follows:

In order to define a reasonable prospect of economic extraction, the Mineral Resource was contained within a Whittle optimized pit shell that uses an average Ag price of US$18.5/oz, Zn price of US$1/lb and Pb price of US$0.82/lb. These metal prices are based on a comprehensive survey of commodities forecasts among most prominent commodity experts. The assumed recoveries are based on average recoveries of 89% Ag, 80% Zn and 95% Pb. Operating costs are based on similar existing or nearby operations. For the portion of the Mineral Resource not deemed amenable to economic open pit extraction, the Company has assessed the reasonable prospect of economic extraction in an underground context.

The San Marcial Mineral Resource has been estimated along a 500 m strike length which makes up part of a 3.5 km long mineralized zone, supporting potential for resource expansion (Figure1).

As recently announced, the Company continues to advance surface exploration at the San Marcial Project, focusing on five targets recently identified by soil and rock geochemistry (News Release dated 18 January 2019). These targets are yet to be drilled and are located in the vicinity of the Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.

The Mineral Resource estimated for each resource category – Indicated or Inferred – is displayed in Table 2, at different AgEq gpt cut off grades. The Effective date for the mineral resource is February 07th, 2019. A Technical Report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed on SEDAR at www.sedar.com within 45 days of this release.

 

The Mineral Resource has been estimated by Marcelo Filipov, P.Geo of WSP Canada Inc. and Todd McCracken, P.Geo of WSP Canada Inc. Both Mr. Filipov and Mr. McCracken are Qualified Persons as defined by National Instrument 43-101. The Mineral Resource has been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves, adopted by CIM council, as amended. Mr. Filipov and Mr. McCracken have read and approved the contents of this press release as it pertains to the disclosed Mineral Resource estimate.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V  laboratory facilities in Durango, Mexico, for sample preparation and assaying, for every sample with results above Ag >100 ppm (“over limits”), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. Additional sampling and re-sampling of existing pulps and rejects were conducted to assess the variability of grades in the mineralized zone. A WSP Canada Inc. independent qualified person visited the San Marcial Project from Nov 12th to Nov 16th, 2018. Independent sampling was completed in core samples and surface samples for validation purposes. WSP Canada Inc. has reviewed the QA/QC protocols and procedures implemented by Goldplay and results, believing that the database is reliable for estimating the Mineral Resource.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

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Goldplay’s Marcio Fonseca Interviewed

Here is a good interview with Goldplay CEO Marcio Fonseca:

 

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