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Goldplay Exploration reported a high-grade gold intersection from its first core drill hole at the San Marcial Project in Sinaloa, Mexico

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The first drill hole, SM 19-01, intersected 1 meter at204.6 grams per tonne gold, defining a new gold mineralized zone close to surface, immediately adjacent to the western edge of the San Marcial NI 43-101 resource.

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Additional Information:

Company: Goldplay Exploration Ltd.
Website: http://www.GoldPlayExploration.com
Stock Symbol: TSXV: GPLY
Date Published: Jul 30, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Goldplay Exploration Ltd. has reported a high-grade gold intersection from its first core drill hole at the San Marcial Project in Sinaloa, Mexico.

The first drill hole, SM 19-01, intersected 1 meter @ 204.6 grams per tonne gold, defining a new gold mineralized zone close to surface, immediately adjacent to the western edge of the San Marcial NI 43-101 resource.

This system contains a wide, high-grade silver-lead-zinc-gold mineralized zone, of which channel sample results returned up to 56 meters @ 196 grams per tonne silver, including 15 meters @ 472 grams per tonne silver.

The company is actively focused on surface and drilling exploration along the 600 meter-long Faisanes zone, including prospecting for discoveries of new high-grade gold-silver zones.

This hole, drilled 75 meters below surface, discovered a new silver-lead-zinc breccia hosted mineralization close to the resource area as well as the new gold-silver zones confirming mineralization previously identified by trenching and shallow old workings.

The first drill results have identified a 32 meter wide hydrothermal breccia zone hosting multiple intersections of high-grade lead-zinc-silver mineralization.

This table summarizes the most significant drill assay results from SM 19-01.

The high-grade gold results have been followed up with detailed geological and geochemical modelling.

The sum of this work strongly supports Goldplay's plans to conduct further drilling along strike on Faisanes.

Marcio Fonseca, President and CEO, stated: "The high-grade gold-silver intercept is highly significant as it supports the Company's goal of expanding the San Marcial resource. It is the first time in approximately 10 years that any type of exploration work has been carried out on the project. One year ago, our data indicated high-grade silver, lead and zinc at San Marcial. Today, we have added high-grade gold. We are committed to continue systematic exploration and drill programs at San Marcial.”

Goldplay owns an exploration portfolio of more than 250 square kilometers in the historical Rosario gold-silver Mining District, Sinaloa, Mexico.

The company’s current focus includes resource expansion and exploration aiming new gold and silver discoveries at the San Marcial Project, as well as a follow up exploration program at the El Habal Project.

The El Habal Project, located near the historical gold-silver Rosario Mine, which reportedly operated for over 250 years, is a drilling stage project.

The company is also planning to drill the Nava target, which is located 1.5 kilometers west of the San Marcial resource area and approximately 1 kilometer west of the Faisanes discovery.

A recent surface sampling reported continuous gold mineralization and visible gold, notably 24 meters @ 2.1 grams per tonne gold including 5 meters @ 4.0 grams per tonne gold.

A 500 meter long gold mineralized zone has been defined at Nava.

The shares are currently trading at $0.21.

For more information, please visit the company’s website at www.GoldPlayExploration.com, contact Marcio Fonseca, President and CEO, at 604-202-3155 or email info@GoldPlayExploration.com.

I’m Cassandra Bolinski for Investmentpitch Media