Goldplay Exploration


Gold Exploration Company in Past Producing Mining District in Mexico

Press Releases


Goldplay Exploration Ltd. (TSXV:GPLY) is an advanced stage exploration company, with a diverse portfolio of gold, silver and base metal assets, ranging from recent discovery to advanced resource-stage.

The majority of Goldplay’s projects operate out of the Rosario mining district in Sinaloa, Mexico. The Rosario mining district has a 250-year mining history and hosts the past producing multi-million gold + silver ounce Rosario gold mine. The Rosario gold mine was in operation from the 1700s to 1944 and with a production rate of approximately 500 tonnes per day. In 1883, the average grade produced at the mine was 1,133.98 g/t gold and 77.96 g/t silver.

The company holds 6 properties, strategically located in a highly prospective geological setting in the Rosario mining district. Due to the rich mining history of the district, mining infrastructure and a skilled workforce already in place, allied with cost effective approach to carry out exploration, this translates to approximately 80 percent of shareholder capital currently being directly invested into the ground. Additionally, many of Goldplay’s properties are adjacent to each other and/or are located immediately adjacent to operations or exploration projects controlled by other major mining companies, such as Marlin Gold Mining Ltd. (TSX:MLN), Minera Penoles S.A. de CV (BMV:PE&OLES) and First Majestic Silver Corp. (TSX:FR), which can lead to future M&A opportunities.

Goldplay’s San Marcial property was acquired from SSR Mining Inc. (TSX:SSRM) in April 2018 and is a main focus for the Company, as it views San Marcial to host compelling expansion potential on its 30 Moz Ag eq, high grade indicated resource (historical NI 43-101 compliant) “resource”, estimated by Silvermex in 2008. The resource demonstrates viability for developing a high grade, open pit project proximal to other projects under development by First Majestic Silver Corp. Historic preliminary leach testing at San Marcial has indicated a metallurgical recovery rate of 80 % Ag and up to 90 % for Pb and Zn. The resource is situated on a 500 m strike mineralized structure and is open for expansion for 3.5 km with evidence of surface mineralization. The company will be releasing new drill results in the coming months to support resource expansion upside and to update the NI 43-101. The Company plans to engage external consultants to carry out a preliminary economic assessment( PEA) within the next 12 months.

Goldplay’s second property is El Habal. The property is proximily located to the past-producing Rosario mine and displays geological structures that are similar to those found at the Rosario mine. Goldplay has completed surface trenching, underground mapping, channel sampling, a ground geophysical survey and it is currently carrying out phase 1 of its 2000 m core drilling program. Initial trenching results have confirmed wide oxidized mineralization on surface. Results from the core drill program will be released in the upcoming months.

Goldplay owns three additional properties in the Rosario mining district. The Yauco and Villa Union properties are adjacent to and share similar geological structures with the El Habal property. Finally, the El Placer II property is located on the borders of the Rosario and Concordia mining districts which have hosted numerous artisanal and well-established mining companies from the 1700s to the early 1900s. The El Placer II property has also displayed evidence of artisanal mining.

Goldplay has attracted a strong financial and shareholder base, such as Sandstorm Gold Royalties (TSX:SSL) and SSR Mining. Sandstorm invested C$1 million in Goldplay after the company went public on the TSXV, and Sandstorm owns 7.8 percent. SSR Mining holds 3.3 percent of the Goldplay’s shares, acquired through the divestment of the San Marcial Project. Management also notably owns 21.7 percent of the shares.

Goldplay Exploration Highlights

  • Located in Mexico’s historic Rosario mining district, which has been reportedly in operation for 250 years. The past-producing multi-million ounces Rosario gold mine is proximally located to Goldplay’s El Habal, Villa Union and Yauco properties
  • NI 43-101 indicated resource of 18 million ounces of silver, 29.9 million pounds of zinc and 55.3 million pounds of lead; inferred resources of 4.4 million ounces of silver, 19.5 million pounds of zinc and 34.7 million pounds of lead. This represents 30 million ounces of Ag equivalent with immediate upside opportunity for resource expansion.
  • Fast-tracking toward expansion of San Marcial ’s NI 43-101 Ag, Au, Pb , Zn resource report and completion of a Preliminary Economic Analysis (PEA) at the San Marcial Project .
  • Preliminary metallurgical test work results supporting attractive recovery rates for Ag, Zn, Pb at San Marcial.
  • Significant historical drilling intercepts at San Marcial, near-surface, supporting a high grade, open pit target:
    • SM-4: 53.95 m @ 235 g/t Ag, 0.3% Pb, 0.47% Zn
    • SM-9: 12.68m @ 540 g/t Ag, 0.18%Pb, 0.36% Zn
    • SM-13: 17.50m @ 621 g/t Ag, 0.49% Pb, 0.85%Zn
  • Core drill testing is underway at El Habal property after its successful surface trenching program where Goldplay discovered wide oxidized gold mineralization on surface with intercepts including:
    • Santos Trench , 130 m @ 0.86 g/t Au
    • La Reina Trench, 90 m @ 0.84 g/t Au
    • Arenal Trench, 100 m @ 1.02 g/t Au
  • Aggressive exploration program in place aiming to define new precious metal discoveries.
  • Management and key shareholders hold strong track records in discovery, development, financing and successful sale of assets in Latin America
  • Properties are adjacent or in proximity to numerous operating major mining companies, (Trinidad Mine – Marlin Gold Mining Ltd.) or projects under exploration and development (Plomosas Mine – First Majestic Silver Corp.).
  • Two of Goldplay’s major shareholders are US$1 Billion market capitalization companies, SSR Mining and Sandstorm Gold
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