|October 07, 2014|
Playfair Mining Ltd. Property Update
|Playfair Mining is pleased to report the results of ongoing work on 3 contiguous prospecting licenses in the Ox Mountains, County Sligo, Ireland. Reconnaissance prospecting of the 3 licenses previously provided exciting evidence of gold mineralization in float boulders in a virtually unexplored area containing 20 kilometers of strike length of the same major geological structure as Dalradian's multi-million ounce Curraghinalt deposit.|
New work at the Cloonacool Prospect has significantly expanded the Prospect from a single boulder assaying 9.80 gpt gold to a coherent area of 1,500 metres by 500 metres containing several well mineralised boulders and an outcropping auriferous quartz vein. Eight boulders in this area range from 1.30 gpt gold to 17.2 gpt gold. An additional 14 samples in the area are anomalous in gold with values between 112 ppb and 697 ppb.
The outcropping quartz vein is about 1.5 metres wide and is approximately in the centre of the boulder field, a single sample assayed 0.66 gpt gold, a boulder within 5 metres of the vein assayed 3.57 gpt gold.
The mineralised boulders are interpreted to likely be of local derivation based on their apparent concentration within a coherent area and the outcropping mineralization.
Current fieldwork is focussed on identifying any outcropping mineralisation and/or controlling structures in the Cloonacool and Cabragh prospect areas followed by trenching as required to develop drill targets.
Playfair Mining has entered into an Option Agreement to acquire up to a 100% interest in Bowpark Exploration (Ireland) Ltd. Bowpark is a private company registered in Ireland and holds as its sole asset 3 contiguous prospecting licenses over the Ox Mountains in County Sligo, Ireland.
Richard Parker and Andy Bowden are the current owners of Bowpark and are both experienced geologists. Andy Bowden has over 40 years' experience in exploration for a wide variety of metals mainly in Ireland. He was responsible for the discovery of the Galmoy R-zone at the Galmoy zinc mine in Ireland. Up until May this year, when he retired, he sat on the Board of Directors for the Institute of Geologists of Ireland. Richard Parker has over 40 years' experience as a mineral exploration geologist and directed programs resulting in the discovery of the Cononish gold deposit in Scotland and the Tatestown zinc deposit in Ireland. He has worked in over 40 countries.
Richard Parker and Andy Bowden are carrying out and overseeing these approved exploration programs. Both are qualified persons as defined by National Instrument 43-101 and they have reviewed and approved the contents of this News Release.
ON BEHALF OF THE BOARD
"D. Neil Briggs"
D. Neil Briggs
Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain "forward-looking" statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.