|August 31, 2006|
Playfair Releases Grey River Drill Results
|Playfair Mining Ltd. is pleased to report that all analytical data has now been received for the recently completed drill program at Playfair's 100% owned Grey River Tungsten property. A total of 2,836.4 metres were drilled in 15 large diameter HQ drillholes from April 6th to July 10th, 2006. Playfair's drill program consisted of 8 confirmatory drillholes within ASARCO's historic resource*, 3 exploratory drillholes immediately adjacent to the historic resource* and 4 exploratory drillholes on Vein # 6 where no historic resource had been calculated.|
Playfair's confirmatory drilling generally confirms ASARCO's data on Vein # 10 and gives indications of possible extensions. The vein pinches and swells somewhat but is remarkably consistent overall. Widths vary from less than 0.5m to more than 4.0m. Wolframite occurs as isolated clusters and locally disseminated crystals causing a "nugget effect" and making the mineralization difficult to sample with diamond drilling. Significant intercepts are given below.
Playfair drillholes within ASARCO's Vein # 10 historic resource*
** Portions of these drillholes have been previously reported.
Playfair's 8 confirmatory drillholes all intersected Vein # 10 over widths along the core varied from 0.5 to 4.8m and WO3 assays varied from a high of 1.70% WO3/1.5m to a low of 0.09% WO3/ 0.9m. Other tungsten-bearing veins were also intersected during the drill program and are being considered for follow-up work. Vein # 10 continues to the north and south of the drilled area. To the south the vein has been sampled in trenches and ASARCO drillhole GR-14 is reported to have intersected 0.65% WO3 over 0.91m.
This data, together with Playfair's surface sampling and ASARCO's historical surface, drilling and underground sampling data is being compiled into a GIS-based digital database in preparation for a NI 43-101 compliant resource calculation for the Grey River deposit. Prior work by ASARCO on the Grey River property from the period of the initial tungsten discovery in 1954 until 1970 included extensive surface sampling and assaying followed by surface diamond drilling and the establishment of 1920 metres of underground workings. ASARCO sampled 25 underground raises and estimated a historic resource* of 520,000 tons (473,000 tonnes), above adit level, grading 0.97% WO3.
A brief inspection of the 1.6 kilometre long underground adit was carried out during the drill program. The workings were observed to be dry and in sound shape with only minor falls of loose material from the back.
Playfair's 3 exploratory drillholes immediately adjacent to the historic resource* all encountered Vein # 10 and other tungsten-bearing veins. Thin quartz veinlets carrying fluorite and scheelite are common in the hanging wall of Vein # 10, especially at the south end of the drilling. There may be sufficient veinlets locally to provide a large tonnage low-grade tungsten resource. Significant intercepts are given below.
Playfair drillholes adjacent to ASARCO's Vein # 10 historic resource*
** Portions of this drillhole have been previously reported.
Playfair also drilled 4 holes on Vein # 6 located to the northeast of Vein # 10. All 4 drillholes encountered tungsten-bearing veins. Vein # 6 drilling has been somewhat inconclusive. Additional drilling is being considered. Significant intercepts are given below.
Playfair drillholes on Vein # 6
Playfair owns 4 tungsten deposits, Grey River (Newfoundland), Risby (Yukon), Lened (Yukon) and Clea, (Northwest Territories). Playfair's exploration has so far been focused on the Grey River deposit where consistently favourable results have advanced the project towards underground exploration.
Mr. James Harris, P.Geo is the qualified person who has reviewed the technical information contained in this news release on behalf of Playfair.
*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.
Core samples were collected under the supervision of Mr. James Harris, P.Geo. HQ diameter core was descriptively logged on site, aligned, marked for sampling and then split in half, longitudinally, using a diamond saw blade. One-half of the core is preserved on site in core boxes for verification and future reference. The samples comprising the other half of the core 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 phosphoric acid leach followed by tungsten analysis of the leachate by 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.
Visit our website at www.playfairmining.com for more information.
ON BEHALF OF THE BOARD
D. Neil Briggs
D. Neil Briggs President and Director
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