Playfair Mining
Playfair Mining is a Toronto (TSX.V: PLY) and Frankfurt (P1J) listed junior mining company focused on the exploration and development of tungsten projects. PLY has 100% controlling interest in four advanced stage Canadian tungsten projects, Risby, Lened, Clea and Grey River with combined 43-101 and historical resources* totalling over 104 Million pounds of contained Tungsten. Its investment case rests on China’s decision to curtail tungsten exports in response to its own requirements. China currently accounts for approximately 85% of the world’s primary tungsten (mine production) and approximately 65% of the world reserve base.
Playfair Mining updates investors on progress at Granite Lake
Playfair Mining updated investors on developments at its Granite Lake molybdenum project in Newfoundland, Canada.
Drill holes data received to date confirmed an open ended altered and mineralized area covering an area 1.3 square kilometres. 7,800 metres of drilling had been focused primarily on the west side of the Meelpaeg Lake Fault Zone, though 14 holes did test for tungsten mineralization on the eastern side.
Playfair said it would continue drilling at Granite Lake until the end of April, after which the drill will be moved to Grey River, Newfoundland, to conduct a resource expansion drill program.
Don Moore, Chairman, commented
"Playfair's technical staff is gaining a critical understanding of the nature of mineralization at Granite Lake. From early drill results, it appears like Granite Lake will offer substantial potential upside as a bulk tonnage molybdenum target. Corporately, this compliments Playfair's four advanced stage tungsten deposits nicely. While the focus of Playfair is on tungsten, Granite Lake now offers good potential bonus exposure to a completely different metal."
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