VANCOUVER, Oct. 28, 2019 /CNW/ - Goldplay
Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) ("Goldplay" or
the "Company") announces the filing of an amended and
restated condensed interim consolidated financial statement and
Management Discussion and Analysis ("MD&A") as at and for the
six-months ended June 30, 2019.
The Company determined that it did not properly disclose, under
International Financial Reporting Standards, the required note
disclosure for related party transactions and share capital. As a
result, the Company amended and restated the condensed interim
consolidated financial statements and MD&A for Q2 2019 by
adding the following disclosure in Note 11 – Related Party
Transactions; The Company issued 480,000 common shares
valued at $60,000 as debt settlement
with officers and a director of the Company and in Note 12 –
Share Capital and Reserves; the Company issued 600,000
common shares valued at $75,000 as
debt settlement including $60,000 to
related parties.
About Goldplay Exploration Ltd.
Goldplay has successfully consolidated a district-sized
portfolio, owning >250 sq. km of mineral concessions in the
historic Rosario gold-silver
Mining District in the state of Sinaloa,
Mexico. Its flagship project, San Marcial, consists of a
1,250 ha land package located south of the La Rastra and Plomosas historic mines. San
Marcial is a near-surface, high-grade silver, lead, and zinc open
pit amenable project for which a NI 43-101 resource estimate was
completed by Goldplay in early 2019. Additionally, high-grade gold
was drilled in July 2019 at San
Marcial, opening up the potential for further gold success.
Goldplay's 100% owned El Habal
precious metals project is located 20 km west of the San Marcial
Project. It comprises 3,700 hectares and is located 75 km southeast
of the modern coastal port of Mazatlán, and 10 km on a paved road
from the historic mining town of Rosario,
Sinaloa, Mexico.
Goldplay's current focus includes expanding its NI 43-101
resource estimate at the San Marcial project, which contains 36Moz
Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new
high-grade gold and silver targets along the project's 6 km
mineralized trend. Goldplay is the first company to perform
exploration work at San Marcial in over 10 years. It is a low-risk
development stage project, fully exploration permitted and
supported by the local communities to carry out all proposed
exploration activities. Only 500 m of
the 6 km trend has been drilled to date, highlighting the
significant potential for further discoveries. The Company has
identified 8 high-priority targets along the 6 km trend and is
currently drilling two high-priority targets at Faisanes and
Nava. Some of these exploration
targets consist of old shallow pits, caved shafts and historic
shallow underground workings in areas with extensive hydrothermal
alteration, hosted by major regional structures in a felsic
volcanic environment. Mapping and sampling by Goldplay have
revealed evidence of dacite-rhyolite dome structures in a highly
prospective geological environment for additional high-grade gold
and silver discoveries.
The El Habal Project is a drill-stage project. Its oxidized gold
mineralized zone outcrops along a series of rolling hills with
evidence of historic shallow underground mining along a 6 km-long
prospective corridor. The El Habal Project is located near the
historic gold-silver Rosario Mine which 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.
The NI 43-101 reports for each of the San Marcial and El Habal
Projects are available 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