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Goldplay Exploration Announces Filing of Technical Report for the San Marcial Project

ID: 1548028
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(businesspress24) - Goldplay Exploration Announces Filing of Technical Report for the San Marcial Project

March 27, 2019 - Vancouver, BC - Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (Goldplay or the Company) announces that a NI 43-101 Technical Report (Mineral Resource) titled San Marcial Project, Mineral Resource Estimation and Technical Report has been filed on SEDAR (www.sedar.com).

The Mineral Resource estimated for each resource category - Indicated or Inferred - is displayed in Table 1, at different silver equivalent (AgEq) cut off grades. The report documents a maiden mineral resource estimate for the initial 500 m long x 100 m wide resource area, part of a 3.5 km mineralized exploration corridor at the San Marcial Project.

Table 1 San Marcial Resource Estimation Table
https://www.irw-press.at/prcom/images/messages/2019/46304/GOLDPLAYNewsRelease_March27th_2019 PRcom.001.png

2 -AgEq is based on long term silver, zinc and lead prices of US$18.50 per ounce silver, US$1.10 per pound zinc and US$0.95 per pound lead. The following average metallurgical recoveries are assumed as 85% silver, 85% zinc and 95% lead. A 30 gpt AgEq cut off for open pit and 80 gpt AgEq for underground were used for resource classification completed by WSP Canada Inc. on February 07, 2019

Qualified Persons

The Independent Technical Report was prepared by Todd McCracken and Marcelo Filipov of WSP Canada Inc. (WSP). Messrs McCracken and Filipov are Qualified Persons as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101"). The report is filed on SEDAR and is available on Goldplays website:

https://goldplayexploration.com/wp-content/uploads/2019/03/San-Marcial-43.101.pdf

The Companys Qualified Person as defined by NI 43-101 is Marcio Fonseca, PGeo, President and CEO. He has reviewed and approved the technical content of this release.



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 Companys 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. Goldplays 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 Companys 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.

For Further Information:

Goldplay Exploration Ltd.
999 West Hastings St., 9th Floor
Vancouver, BC, V6C 2W2
Contact: +1 (604) 202 3155
Email: info(at)goldplayexploration.com

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.




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Date: 03/27/2019 - 12:51
Language: English
News-ID 1548028
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