|October 23, 2008|
Grey River Tungsten Deposit Expanded
|Playfair Mining is pleased to provide drilling results for the 2008 Grey River Tungsten deposit. Drilling has successfully defined a significant down plunge zone of tungsten mineralization extending the #10 Vein Deposit at depth and to the north. Drill Hole 122 yields a highlight intercept of 1.13% WO3 over 2.4 metres. |
As reported in a previous news release, the main objective of the 2008 drill program was to test the down dip and northern strike extensions of the #10 Vein Tungsten deposit, particularly below the adit level. Analytical results from drill core samples show that #10 Vein tungsten mineralization extends an estimated 250 metres down dip below the previously defined deposit (or about 160 metres vertically below the adit level). This newly identified deposit extension zone appears to have a 45 degree plunge (or rake) and is open to the north and at depth. The following table details select results from the ten hole drill program.
** Vein 10 not encountered
Intercept lengths are core lengths and not true widths
Results from the 2008 drill program have greatly enhanced Playfair's understanding of the Grey River Tungsten deposit. The company has moved forward significantly in its goal to increase the deposit's overall Tungsten resource. The 2008 drill data will be added to the existing drill data set and be used to update the 2007 Wardrop Engineering inferred resource calculation (see table below).
Grey River #10 Vein 2007 NI 43-101 Compliant Resource Estimate
Donald Moore, Playfair's Chairman and CEO, states, "The 2008 drill campaign confirms the potential for additional tungsten resources below the adit and also to the north. Vein type environments are often conducive to further resource expansion through development and underground drilling. Combined with the prospect of finalizing the metallurgical test work and milling circuit design, the Grey River Deposit is another significant step closer to a production decision. Our view on tungsten remains bullish, with the metal's price remaining steady in the mist of current world economic turmoil, indicating that tungsten supply outside of China remains tight."
The 2008 drill program totals about 3,955 metres of NQ diameter core drilling, with holes having been completed from three separate drill pads. The Playfair website has an illustration showing the locations of new drill hole pierce points on a deposit long-section map.
The collection of an estimated 5.6 tonne underground bulk metallurgical sample from the underground adit was recently completed. The bulk sample has been transported to the SGS Laboratory in Lakefield Ontario for pre-processing, after which the blended ore material will be forwarded to Cornwall England for metallurgical testing.
Michael Moore P.Geo is the Qualified Person who has reviewed the technical information contained in this News Release on behalf of Playfair.
Core samples were collected under the supervision of Mr. James Harris, P.Geo. NQ 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 Eco Tech (Alex Stewart Geochemical) of Kamloops BC, an ISO 9001:2000 accredited laboratory, where a 0.2 gm split was subjected to a fusion digestion, then analyzed for tungsten by ICP-MS. All coarse rejects are currently stored at Eastern Analytical Ltd. facilities and sample pulps are currently stored at the Eco Tech facilities. In addition to the normal quality control assurance controls of laboratory sample standards and blanks, Playfair employs the use of additional sample tungsten standards to insure analytical integrity.
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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