VANCOUVER, Oct. 18, 2018 /CNW/ - Goldplay
Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF - the "Company" or
"Goldplay") is pleased to announce that it has received
approval from the Mexican national environmental agency for its
upcoming drill programs at the San Marcial Project, Sinaloa, Mexico. Planning is underway for
drilling campaigns to complement the Company's San Marcial resource
estimate, due in December 2018, and
the subsequent PEA studies scheduled for completion in 2019.
Goldplay President and CEO Marcio
Fonseca commented, "The grant of the drilling permit
opens the door for Goldplay to move forward with its objectives to
delineate new mineralized zones beyond the historic NI 43-101
resource estimate area ("historic resource"). This will also
allow the identification of new discoveries in the 3.5
km long mineralized trend and providing additional drilling
information to support a Preliminary Economic Assessment ("PEA") of
the San Marcial Project in 2019."
The drilling approval was granted by SEMARNAT (Secretaria de
Medio Ambiente y Recursos Naturales) following the submission by
Goldplay of an Environmental Impact Statement specific to the San
Marcial Project and upcoming drill plans, and allows for surface
geological exploration including trenching and drilling activities.
SEMARNAT recognizes that the activities proposed by Goldplay will
be beneficial to the local community with opportunities of
employment for local residents and will contribute to the
socio-economic development of the local community.
Approval has been granted to the Company for the completion of
up to 69 drill holes, by either diamond core or reverse circulation
methods, in a period of two years ending August 2020, and within a highly prospective area
selected by Goldplay. Encouragingly, the positive response to
Goldplay's proposal by the Mexican authorities does not impose any
extraordinary conditions on the proposed drill programs. Standard
requirements include the rehabilitation of disturbances caused by
the exploration activities, as well as minimizing construction of
new access tracks and avoiding damage to the local environment.
NI 43-101 Resource Estimate – as announced in a News
Release dated 5 October 2018,
Goldplay is finalizing the first 3D Geological model ("3D model")
of the San Marcial silver-zinc-lead-gold deposit using high grade
results received from recently sampled and assayed historic drill
core. The 3D model will be used to complete a NI 43-101 resource
estimate, scheduled for completion before the end of 2018.
Preliminary Economic Assessment (PEA) – Goldplay expects
to undertake a PEA study in 2019 carrying out preliminary
engineering and economic analysis assuming a combined open
pit/underground future development of the San Marcial Project.
Drilling under the recently granted permit will allow Goldplay
to test down dip and along strike extensions to the mineralization
identified in the historic resource, as well as to provide
additional samples for metallurgical, that will feed into
the PEA.
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
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 with an ongoing
drill program. 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.
THE FORWARD-LOOKING INFORMATION CONTAINED
IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS
OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO
CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE
ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY 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.
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SOURCE Goldplay Exploration Ltd