Goldplay Exploration Announces Drilling Start ON the El Habal Property, Mexico
GOLDPLAY EXPLORATION ANNOUNCES DRILLING START ON THE EL HABAL PROPERTY, MEXICO
May 22, 2018, Vancouver, BC - Goldplay Exploration Ltd. (TSXV: GPLY - the “Company” or “Goldplay”), is
pleased to announce that the phase I drilling program has started on the El Habal Property in Sinaloa,
Mexico. The phase I core drill program will include six drill holes in the Santos and La Reina targets
totaling an estimated 1,500 meters.
The drill targets identified in the 2017 surface exploration program and recent ground geophysical survey
(CSMAT) are located close to small historical shallow underground workings known as Santos, La Reina,
and El Habal. These targets have been defined by positive wide trench results, representing areas with
presence of low resistivity anomalies identified by the CSM AT. The ground geophysical survey revealed
anomalies close to the surface and with evidence of intense hydrothermal alteration in andesites and
rhyolites hosting Au mineralized quartz stockwork zones.
The historical shallow underground workings have been recently reopened with the completion of
detailed geological mapping and sampling, revealing important information for 3D modelling of the
mineralized corridor. The phase I drill program will focus initially on a 600 m long mineralized corridor
(see Figure 01), open along strike and down dip within a highly prospective 6 km long mineralized corridor.
The Company plans to complete a 2,500 meters phase II core drilling program drill program in 2018.
Figure 01- El Habal map showing drill targets inside 600 m long mineralized corridor with proposed drill-
holes- True widths for La Reina, El Arenal and Santos trenches are estimated to be 60% of intersected
widths
2
Marcio Fonseca, Goldplay’s Chief Executive Officer , stated, “We are extremely excited with the start of
drilling on an attractive exploration project located in the vicinit y of historical high-grade historical gold-
silver Rosario mine.
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 square Kilometer exploration portfolio in the Rosario Mining District , Sinaloa,
Mexico. Goldplay currently focuses on exploration activities including drilling at the El Habal Project ,
resource update at the recently acquired advanced resource stage San Marcial Resource Stage Project.
The San Marcial consists of an attractive near -surface high -grade silver, zinc and lead project with a
historical National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) (1) with
an immediate opportunity for resource expansion.
Resource Grade Contained Metal
Category Tonnes Ag (g/t) Zn (%) Pb (%) Ag M(oz) Zn M(lbs) Pb M (lbs)
Indicated 3,755,893 149.20 0.67 0.36 18.0 29.9 55.3
Inferred 3,075,403 44.21 0.51 0.29 4.4 19.5 34.7
(1) The historical NI 43-101 resource estimate is based on a cut off of 30 g/tAg 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 4884 meters of drilling in 30 core drill holes. 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 ou t to verify all historic al 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 existing historical NI 43 -101 resource estimation exhibits s ignificant exploration upside as it only
comprises 30 drill holes completed up to November 2008. Additional 22 drill holes were completed post-
filing of historical NI 43-101, representing an immediate opportunity to update and expand the resources.
The historical NI 43-101 covers 600 m of a mineralized trend which is open along strike for an additional
3.5 km, supported by positive surface exploration results. The mineralization is an open down dip as most
of the historical drilling was completed only up to 250 m below the surface in the resource estimation
area. Historical preliminary metallurgical results from oxide and sulfide samples from San Marcial have
indicated column leach tests recoveries in the range of 80% for a 72 -hour leach period and preliminary
flotation test work in drill core composite samples reporting recoveries in the range of 90%.
The mineralization at San Marcial is typical of the low sulphidation, epithermal systems hosted near the
contact of the Tertiary, Upper and Lower Volcanic units in the Sierra Madre Occidental Geologic Province.
Along the 3.5 km mineralized trend, there are highly altered hydrothermal breccias, conglomerates , and
relatively fresh dacite porphyry intrusive. Faulting is an important structural feature related to the silver
gold zinc lead copper mineralization , and the intersection of east- west with northwest structures are
considered the most prospective areas for exploration at San Marcial.
There are two main mineralized zones (upper and lower), located in the center of the mineral concession
and both outcropping at surface. Both mineralized zones and associated host rocks exhibit fracture filling
and typical hydrothermal textures of epithermal deposits. There is local brecciation hosting mineralized
zones.
3
San Marcial exhibits significant exploration upside supported by historical regional exploration programs
completed by previous operators with the identification of 14 exploration targets like San Marcial inside
the 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 low sulphidation epithermal exploration -stage project. The El Habal Project is
near the historical Au-Ag Rosario Mine (“Rosario Mine”). The Rosario Mine reportedly operated for 250
years. Goldplay’s team has over 30 years’ 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.
Goldplay is providing th e historical d rill data and historical NI 43 -101 for informational purposes
only. Goldplay has not completed any quality control assurance program to the historical drill data and
NI 43-101. Although the Company believes that the work was completed by competent persons to the
standards of the day and the Company cautions the reader that the drill results are historical in nature
and have yet to be verified by the Company’s “Qualified Person” under NI 43-101.
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 t his 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 that 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 EX PECTATIONS 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, For Further Information:
P. Geo, President & CEO Contact: +1 (604) 202 31 55
Goldplay Exploration Ltd. Email: [email protected]
Website: www.goldplayexploration.com
999 West Hastings Street, Suite 900
Vancouver, British Columbia V6C 2W2
Neither the TSX Venture Exchange nor its Regulation Services Provider (as t hat term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.