VANCOUVER, Jan. 9, 2020 /CNW/ - Goldplay Exploration Ltd.
(TSXV: GPLY, FRANKFURT: GPE,
OTCQB: GLYXF) ("Goldplay" or the "Company"), is pleased to
announce that it will be changing its name to "GR SILVER MINING
LTD." effective Monday, January 13,
2020, to emphasize its focus on more advanced stage silver
mining projects in the Rosario Mining District, Mexico.
The common shares of the Company will commence trading under the
new name on the TSX Venture Exchange with the new trading symbol
"GRSL" at the opening of trading on January 13, 2020.
There is no change in the share capital of the Company, and
shareholders are not required to exchange their existing share
certificates for new certificates. The Company's new CUSIP number
is 36258E102 and its new ISIN number is
CA36258E1025.
CEO Marcio Fonseca stated, "We
believe the name change more accurately reflects the Company's
evolution and focus. In Q4 2019, we were an advanced exploration
company expanding our NI 43-101 resource estimate with a large
vision to consolidate/acquire key assets in the Rosario Mining
District. Over the last month we have signed two LOIs and are
conducting thorough due diligence on two past-producing silver-gold
mines and sizeable adjacent exploration packages, comprising a
wealth of data and infrastructure. We have seized the recent
acquisition opportunities as part of our strategy to become the
first company to consolidate the Rosario Mining District. The LOIs
are non-binding with respect to most terms nor have definitive
agreements yet been negotiated or signed for either transaction.
Our mission is to continue creating shareholder value through
discovery with low-cost, high-quality acquisitions. Our dedication
to increasing the resource estimate at San Marcial remains strong
as we move forward with the due diligence process".
The name change will be accompanied by a new logo, which will be
visible in the coming weeks on the website and other corporate
material.
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. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION
AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.
WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN
ACCORDANCE WITH APPLICABLE LAWS.
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