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Playfair Mining Hires Project Manager for Grey River Tungsten Deposit
Playfair Mining is pleased to announce the hiring of Peter H. Atkinson as Project Manager for the company's wholly-owned Grey River, Newfoundland tungsten deposit.
Mr. Atkinson has a distinguished career in the mining industry and is an experienced and expert manager. Past positions within the industry held by Mr. Atkinson include Mine Superintendent, General Superintendent and General Manager of Operations responsible for Potash Company of America's operations in New Brunswick, Chief Engineer for Afton Mines and Manager of Mining Operations for Home Oil Company. Mr. Atkinson attended the Montana School of Mines, obtaining a Bachelor of Science in Mining Engineering. As part of Mr. Atkinson's compensation package, Playfair has granted him 400,000 options exercisable at a price of $0.75.
Neil Briggs, President of Playfair Mining, states, "It is our goal at Playfair Mining to become the world's next producer of tungsten outside of China. Today's announcement of the hiring of Peter Atkinson as Project Manager for our Grey River project is a significant step towards the completion of this goal. While Playfair continues to work on expanding the Risby deposit and exploring at Granite Lake, the time had come to secure the services of a full-time Project Manager for our Grey River deposit. This illustrates the advanced nature of the project and our belief in fast-tracking this deposit into production. To find somebody with Mr. Atkinson's extensive mining management experience to steer this project towards production is a real achievement."
Mr. Atkinson, in his role as Project Manager, will coordinate and oversee the advancement of the Grey River project and will work with the various engineering firms, company employees, and government bodies involved in the project as it progresses towards mining operations.
Playfair's Canadian Tungsten Deposits
Playfair owns four high-grade tungsten deposits, all in Canada. Two of the four high-grade deposits (Lened and Clea) have significant historical resource estimates that pre-date NI 43-101 but that have been delineated by well established mining companies. The Grey River and Risby deposits have NI 43-101 Compliant Resource Estimates. In addition, to these four deposits, Playfair has an early stage but highly-prospective exploration property at Granite Lake.
NI 43-101 Compliant Resource Estimates
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Cut-off
Grade Grade Pounds
Property Classification %WO3 Tonnes WO3% WO3 MTU's Company
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Grey Inferred 0.2 852,000 0.86 16,153,700 732,700 Wardrop
River Resource 2007
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Risby Inferred 0.2 6,385,000 0.46 65,043,600 2,950,200 Wardrop
Resource 2007
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Historic Resource Estimates(i)
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Cut-off
Grade Grade Pounds
Property Classification %WO3 Tonnes WO3% WO3 MTU's Company
--------------------------------------------------
Lened Historic 0.4 737,000 1.14 18,523,050 840,200 Union
Resource(i) Carbide
1986
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Clea Historic 0.5 257,000 0.93 5,269,000 239,000 Placer
Resource(i) Dome
1980
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*Estimates of tungsten resources are historical in nature, predate and are noncompliant with NI 43-101. Playfair is not treating the historical estimates as current mineral resources or reserves. Playfair has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Playfair believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.
About Tungsten
Tungsten is an extremely hard, heavy, steel-grey to white metal that is remarkable for its robust physical properties and vast uses. Tungsten cannot be substituted in many industrial applications. Tungsten has the highest melting point of all metallic elements. Tungsten is a strategic metal and emerging economies such as India and China are consuming increasing amounts of tungsten. The current price of tungsten is approximately US $12 per pound.
Until 2005, China was the world's largest exporter of tungsten concentrate. Rapid industrialization and structural economic changes within China have resulted in the restriction of tungsten exports from China. China is now the world's largest consumer of tungsten. Escalating Chinese consumption, in conjunction with the ongoing demand in the world's principal economies has resulted in a dramatic increase in the price of tungsten. Tungsten prices are quoted per Metric Ton Unit of contained tungsten trioxide (WO3). One MTU contains 10 kilograms of WO3 and is the standard weight measure of the tungsten trade. Ammonium Paratungstate ("APT") is an intermediate product in the production of tungsten metal for which prices are available. A price of US$260 per MTU equates to US $26 per Kilogram or US $12 per pound.
Playfair is very well positioned to benefit from the expanding global demand for tungsten having four high-grade deposits, all located within Canada.
Michael Moore P.Geo is the Qualified Person who has reviewed the technical information contained in this News Release on behalf of Playfair
Visit our website at www.playfairmining.com for more information.
ON BEHALF OF THE BOARD
"D. Neil Briggs"
D. Neil Briggs
President and Director
No Stock Exchange has Approved or Disapproved the Information Contained Herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Playfair Mining Ltd.: Drilling Starts Up on Playfair's Granite Lake Tungsten-Molybdenum Property
10/11/2007
VANCOUVER, BRITISH COLUMBIA, Oct 11, 2007 (Marketwire via COMTEX News Network) --
Playfair Mining (TSX VENTURE Zunge rausstrecken LY)is pleased to report that it has commenced an aggressive diamond drill program on its Granite Lake property in south-central Newfoundland. Granite Lake is an under explored but highly prospective project because of the large size and scope of the tungsten, molybdenum, zinc, copper, lead and silver geochemical anomaly (5 km by 10 km) found on the property as well as numerous bedrock occurrences of both tungsten and molybdenum.
Past trench sampling of tungsten enriched quartz veins and quartz stockworks on the property by the Newfoundland Department of Natural Resources reports highlight sampling results as follows: 4.4% WO3 over 5.0 metres, 1.90% WO3 over 5.0 metres, 2.75% WO3 over 1.5 metres and 3.06% WO3 over 2.0 metres.
Don Moore, CEO of Playfair Mining, states, "The commencement of drilling at Granite Lake is indicative of Playfair's strategy to provide investors with exposure to early stage exploration while at the same time moving the company's more advanced stage projects towards production. The blend of early stage exploration projects alongside advanced stage deposits within the Playfair portfolio provides a varied pipeline of activity. The Granite Lake anomaly is a very large multi-element anomaly with excellent bedrock showings and Playfair is excited to commence drilling. We are entering into a very busy period of time at Playfair and look forward to an active several months."
This summer's ground exploration program, completed in late September, focused on both historical showings and newly identified mineralization typically associated with east - west trending, near vertical dipping mineralized quartz veins and stockworks. The follow up of historical showings and overburden covered anomalies via extensive mechanical trenching resulted in the creation of 26 trenches, totalling an inclusive length of about 1,330 metres, from which 175 channel/chip rock samples were collected. Additionally, a total of 111 surface rock samples were collected during prospecting. The samples have been submitted to the laboratory and Playfair anticipates results in the coming month.
About Tungsten
Tungsten is an extremely hard, heavy, steel-grey to white metal that is remarkable for its robust physical properties and vast uses. Tungsten cannot be substituted in many industrial applications. Tungsten has the highest melting point of all metallic elements. Tungsten is a strategic metal and emerging economies such as India and China are consuming increasing amounts of tungsten. The current price of tungsten is approximately US $12 per pound.
Until 2005, China was the world's largest exporter of tungsten concentrate. Rapid industrialization and structural economic changes within China have resulted in the restriction of tungsten exports from China. China is now the world's largest consumer of tungsten. Escalating Chinese consumption, in conjunction with the ongoing demand in the world's principal economies has resulted in a dramatic increase in the price of tungsten. Tungsten prices are quoted per Metric Ton Unit of contained tungsten trioxide (WO3). One MTU contains 10 kilograms of WO3 and is the standard weight measure of the tungsten trade. Ammonium Paratungstate ("APT") is an intermediate product in the production of tungsten metal for which prices are available. A price of US$260 per MTU equates to US $26 per Kilogram or US $12 per pound.
Playfair is very well positioned to benefit from the expanding global demand for tungsten having four high-grade deposits, all located within Canada.
Mr. Michael Moore, P.Geo is the qualified person who has reviewed the technical information contained in this release on behalf of Playfair.
Auch ohne Scoping Studie stehen noch einige News aus den restlichen Deposits an. Bislang hat Playfair immer ueberrascht.
Playfair Extends Granite Lake Drill Program
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Playfair Mining (TSX VENTURE Zunge rausstrecken LY) is pleased to report, due to the promising visual appearance of core from more than one drill hole, that the Granite Lake, Newfoundland drill program will be extended into December. The decision to extend drilling was made by the Playfair geological team based on the visual examination of drill core that has been extracted to date, for which assays are currently pending.
Drilling will continue to test the property's tungsten, molybdenum and bismuth mineralization which is typically associated with east-west trending, near vertical dipping quartz veins and stockworks. This highly prospective area, which measures an estimated 3,000 metres long by 900 metres wide, includes numerous mineralized bedrock occurrences, identified by both historical and recent Playfair trenching efforts. To date, Playfair has drilled 10 diamond drill holes, totalling about 1,300 metres; a minimum of 15 additional holes are planned.
The property, located in south-central Newfoundland, is an under explored but highly prospective project because of the large size and scope of the tungsten, molybdenum, zinc, copper, lead and silver geochemical anomaly (5 km by 10 km) found on the property and numerous bedrock occurrences of tungsten. Past trench sampling of tungsten enriched quartz veins and quartz stockworks by the Newfoundland Department of Natural Resources reports highlight sampling results as follows: 4.40% WO3 over 5.0 metres, 1.90% WO3 over 5.0 metres, 2.75% WO3 over 1.5 metres and 3.06% WO3 over 2.0 metres.
This past summer's ground exploration program focused on overburden covered anomalies, historical showings and newly identified mineralization. The extensive mechanical trenching resulted in the creation of 26 trenches, totalling an inclusive length of about 1,330 metres, from which 175 channel/chip rock samples were collected. Additionally, a total of 111 surface rock samples were collected during prospecting. Many of the trenches failed to reach bed rock, where soil depths exceeded three metres. Analyses results of the rock samples have defined a priority mineralized target area, measuring about 3.0 by 0.8 kilometres, located within the centre of the property.
For both surface rocks and channel samples, the individual sample tungsten oxide values range from sub-anomalous to 5.49%. Many of the rock samples also contain elevated values of molybdenum, bismuth, silver and base metals; individual sample results range from sub-anomalous to 0.044% molybdenum, greater than 0.02% bismuth, 96.1 ppm silver. Outcrop observations by Playfair have identified two co-related styles of mineralization within the priority target area; high-grade tungsten mineralization associated with individual quartz veins, which can be up to a metre wide and lower-grade mineralization associated with sheeted and stockwork narrow quartz veins over widths exceeding ten metres. Select trench channel sample results which illustrate these two styles of mineralization are as follows: 1.0m of 2.32% WO3, 0.017% Mo (including 0.40m of 5.49% WO3, greater than 0.02% Bi, 94.4ppm Mo); 0.25m of 3.25% WO3, 0.012% Mo & 560 ppm Bi; 1.20m 0.276% WO3 & 95 ppm Bi; 15.65m of 0.049% WO3 (including 5.65m of 0.086% WO3); 3.70m of 0.119% WO3, 133 ppm Bi, 55.2 ppm Mo.
Neil Briggs, President of Playfair, states, "While we must be very cautious in terms of making any assumptions regarding grade from visual observations of drill core, the appearance of visible tungsten minerals in the core combined with previously reported geological data about this anomaly and the results of our own fieldwork has led us to extend this current drill program. We are waiting for assay results from core samples that have been shipped to the SGS Minerals Services laboratory in Toronto early this month and are simultaneously continuing to drill."
About Tungsten
Tungsten is an extremely hard, heavy, steel-grey to white metal that is remarkable for its robust physical properties and vast uses. Tungsten cannot be substituted in many industrial applications. Tungsten has the highest melting point of all metallic elements. Tungsten is a strategic metal and emerging economies such as India and China are consuming increasing amounts of tungsten. The current price of tungsten is approximately US $12 per pound.
Until 2005, China was the world's largest exporter of tungsten concentrate. Rapid industrialization and structural economic changes within China have resulted in the restriction of tungsten exports from China. China is now the world's largest consumer of tungsten. Escalating Chinese consumption, in conjunction with the ongoing demand in the world's principal economies has resulted in a dramatic increase in the price of tungsten. Tungsten prices are quoted per Metric Ton Unit of contained tungsten trioxide (WO3). One MTU contains 10 kilograms of WO3 and is the standard weight measure of the tungsten trade. Ammonium Paratungstate ("APT") is an intermediate product in the production of tungsten metal for which prices are available. A price of US $260 per MTU equates to US $26 per Kilogram or US $12 per pound.
Playfair is very well positioned to benefit from the expanding global demand for tungsten having four high-grade deposits, all located within Canada.
Mr. Michael Moore, P. Geo is the qualified person who has reviewed the technical information contained in this release on behalf of Playfair.
Rock samples were collected under the supervision of Mr. Michael Moore, P.Geo. The surface rock samples were collected both as random chips or rock-saw channels. The samples were bagged, sealed and delivered to Eastern Analytical Ltd. in Springdale Newfoundland where they were dried, crushed and pulped. Samples were crushed to approximately -10 mesh and split using a riffle splitter to approximately 300 grams. The sample split was pulverized using a ringmill to approximately 98% minus 150 mesh. The resulting pulp was then shipped to Acme Analytical Laboratories Ltd. of Vancouver BC, an ISO 9001:2000 accredited laboratory where a 0.5 gm split was subjected to a hot aqua regia leach followed by an analysis of the leachate by ICP-MS. Over limit tungsten and molybdenum values were re-analyzed by subjecting a 0.5 gram pulp to a phosphoric acid leach, followed by an analysis bi ICP-ES. All coarse rejects are currently stored at Eastern Analytical Ltd. facilities and sample pulps are currently stored at the Acme Analytical Laboratories Ltd. facilities.
ON BEHALF OF THE BOARD
D. Neil Briggs, President and Director
No Stock Exchange has Approved or Disapproved the Information Contained Herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Playfair Mining Ltd.
D. Neil Briggs
President and Director
(604) 687-7178 or Toll Free: 1-888-244-6644
(604) 687-7179 (FAX)
Website: www.playfairmining.com
09:09 22.11.07
München (aktiencheck.de AG) - Die Experten von "FOCUS-MONEY" empfehlen, die Aktie von PlayFair Mining (ISIN CA72811X1050/ WKN 895836) bis 0,60 Euro zu kaufen.
Das Unternehmen verfüge über fünf aussichtsreiche Wolframprojekte. Grey River, sei das erste Projekt, das in den kommenden Jahren die Produktion aufnehmen könnte. Es verfüge über gut 16 Mio. Pound an Wolframreserven.
Im Risby-Projekt würden 65 Mio. Pound schlummern und über noch größeres Potenzial verfüge die Granite-Lake-Liegenschaft.
Nach Meinung der Experten sollte der Wolframpreis in den kommenden Jahren auf Grund hoher Nachfrage und des geringen Angebots außerhalb Chinas spürbar anziehen. Von dieser Entwicklung sollte PlayFair Mining profitieren.
Die Experten von "FOCUS-MONEY" empfehlen, die Aktie von PlayFair Mining bis 0,60 Euro zu kaufen. Eingegangene Positionen sollten bei 0,40 Euro abgesichert werden. (Ausgabe 48) (22.11.2007/ac/a/a)
Quelle: aktiencheck.de
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Playfair Mining freut sich, berichten zu können, dass das Unternehmen mit einem aggressiven Diamantbohrungsprogramm auf seiner Liegenschaft Granite Lake im südlich zentralen Bereich von Neufundland begonnen hat. Die Liegenschaft Granite Lake wurde bisher nur wenig erforscht, ist jedoch ein in hohem Masse aussichtsreiches Projekt, denn es weist eine grosse und umfangreiche geochemische Anomalie in Bezug auf Tungsten, Molybdän, Zink, Kupfer, Blei und Silber auf (5 km mal 10 km), welche sich auf der Liegenschaft sowie in zahlreichen felsengebundenen Vorkommen sowohl von Tungsten als auch von Molybdän befindet.
Die bisherige Gewinnung von Grabenproben aus den mit Tungsten angereicherten Quartzvenen und Quartzschichtungen auf der Liegenschaft durch das Newfoundland Department of Natural Resources und der dazu angefertigte Bericht stellt die Höhepunkte der Ergebnisse der Proben wie folgt heraus:
4.4 Prozent WO3 über eine Länge von 5,0 Metern, 1,90 Prozent WO3 über eine Länge von 5,0 Meter, 2,75 Prozent WO3 über eine Länge von 1,5 Metern und 3,06 Prozent WO3 über eine Länge von 2,0 Metern.
Don Moore, der Geschäftsführer von Playfair Mining, stellt dazu fest: "Die Aufnahme der Bohrtätigkeit in Granite Lake ist wegweisend für Playfairs Strategie, den Investoren den Zugang zu einer Exploration im frühen Stadium zu veschaffen und zur gleichen Zeit das Unternehmen in ein weiter fortgeschrittenes Stadium in Richtung auf eine Aufnahme der Produktion hin zu entwickeln. Die Verbindung von Projekten in einem frühen Stadium der Exploration mit Lagerstätten im fortgeschrittenen Stadium im Portfolio von Playfair bietet eine Pipeline unterschiedlicher Aktivitäten. Die Anomalie in Granite Lake ist eine sehr grosse Anomalie aus unterschiedlichen Elementen mit hervorragenden Vorkommen in dem zugrunde liegenden Felsgestein. Playfair freut sich auf die Aufnahme der Bohrungen. Wir treten mit Playfair jetzt in einen sehr betriebsamen Zeitraum ein und freuen uns auf mehrere Monate erhöhter Aktivitäten."
Das bodengebundene Explorationsprogramm dieses Sommers, welches Ende September abgeschlossen wurde, richtete sich sowohl auf die historisch berichteten Vorkommen als auch auf die vor kurzem identifizierten Mineralisationen, welche typischerweise in östlich -- westlicher Richtung verlaufen und nahezu vertikal als mineralisierte Quartzvenen und in Schichten abfallen. Die Nachuntersuchung der historisch berichteten Vorkommen und die von oberflächlichen Schichten bedeckten Anomalien durch ein intensives mechanisches Grabenziehen führte zur Erschaffung von 26 Gräben, welche eine Gesamtlänge von ungefähr 1.330 Metern haben. Aus diesen wurden 175 Kanäle/ Splitter Felsenproben gewonnen. Darüber hinaus wurden im Verlauf der Prospektierung insgesamt 111 oberflächlich gelegene Felsenproben eingesammelt. Die Proben wurden zur weiteren Untrersuchung in das Labor eingeschickt. Playfair erwartet die Ergebnise im Verlauf des kommenden Monats.
Näheres über Tungsten
Tungsten ist ein extrem hartes, schweres, stahlgraues bis weisses Metall, sticht durch seine stabilen physikalischen Eigenschaften und seinen weitgespannten Anwendungsbereich heraus und kann in vielen industriellen Anwendungen nicht durch andere Metalle ersetzt werden. Tungsten hat unter allen Metallen den höchsten Schmelzpunkt. Tungsten ist ein strategisch wichtiges Metall. Aufstrebende Volkswirtschaften wie in Indien oder in China haben einen steigenden Bedarf an Tungsten. Der aktuelle Preis für Tungsten beträgt 12 US Dollar pro Pfund.
Bis zum Jahre 2005 war China der weltgrösste Exporteur von Tungstenkonzentrat, jedoch haben die rasche Industrialisierung innerhalb Chinas, strukturelle ökonomische Veränderungen sowie Änderungen in der Wirtschaftspolitik in Richtung industrieller Erweiterung zu einer Abnahme der Tungstenexporte aus China geführt. China ist jetzt weltweit grösster Verbraucher von Tungsten. Die Zunahme des chinesischen Verbrauchs in Verbindung mit der anhaltenden Nachfrage der wichtigsten Volkswirtschaften der Welt und den oben beschriebenen Problemen in der Versorgung haben zu einem Anstieg des Preises für Tungsten geführt. Der Preis für Tungsten wird in Einheiten metrischer Tonnen enthaltenden Tungstentrioxids (WO3) angegeben. Eine MTU enthält 10 Kilogramm WO3 und stellt im Handel mit Tungsten die Standardmasseinheit dar. Ammonium Paratungstat ( "APT") ist ein Zwischenprodukt bei der Herstellung von metallischem Tungsten für welches Preise angegeben werden. Der Preis von US Dollar 260 pro MTU entspricht US Dollar 26 pro Kilogramm oder US Dollar 12 pro Pfund.
Playfair ist hervorragend positioniert um von der weiterhin stark expandierenden Nachfrage nach Tungsten durch die weiter expandierende globale Nachfrage nach Tungsten auch weiter zu profitieren, denn das Unternehmen besitzt vier Lagerstätten mit Tungsten mit einem hohem Metallgehalt, welche sämtlich in Kanada gelegen sind.
Mr. Michael Moore, Diplomgeologe ist die qualifizierte Person, welche die technischen Informationen, die in dieser Presseveröffentlichung im Interesse von Playfair enthatlten sind, überprüft hat.
Besuchen Sie unsere Website unter www.playfairmining.com wenn Sie weitere Informationen erhalten möchten.
IM AUFTRAG DER GESCHÄFTSFÜHRUNG
"D. Neil Briggs"
D. Neil Briggs
Präsident und Direktor
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