Description
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.
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- 31/03/2008 Tungsten – Getting cornered in China
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Company Statement:
Playfair's Canadian Tungsten Deposits Playfair continues to advance rapidly towards its goal of becoming one of the world's principal developers of new high grade tungsten resources. 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. The current value of tungsten is about US$260 per MTU, which equates to US $26 per Kilogram or US $12 per pound. Each of these high profile targets possesses considerable potential to add more resources with further exploration. In the short term, the company's key priority is to aggressively advance its Grey River tungsten deposit toward production. A minimum 3,000 meter drill program is currently underway with the aim of significant resource expansion. A minimum 7,000 meter drill program is planned at Risby during the summer of 2008. The 43-101 resource at Risby is currently over 65 million pounds of contained tungsten, and the goal of this drill program is to considerably expand the contained resource of the project.
In addition to the Grey River and Risby tungsten deposits, Playfair owns two additional high-grade tungsten deposits, in Canada, and together containing over 23 Million pounds of historical resources estimates* that pre-date NI 43-101 but that have been delineated by well-established mining companies.
Playfair's property portfolio also includes Granite Lake; an exciting molybdenum exploration project, located in the logistically favourable centre of Newfoundland. Playfair recently completed a seven month drill campaign of about 8,700 metres in 47 diamond drill holes; much of the drilling focused on the priority Moly Hill Zone. Drill results show that Moly Hill Zone is a very compelling large-scale bulk tonnage molybdenum target which warrants extensive additional drilling.
Current Operations:
NEWFOUNDLAND TUNGSTEN + MOLYBDENUM
Grey River Tungsten
The Grey River tungsten veins are typical fluorite-rich wolframite-quartz greisen vein deposits. Most of the tungsten mineralization is wolframite with a number of small scheelite occurrences known.
In June 2007, Playfair reported a NI 43-101 Compliant Mineral Resource Estimate completed by Wardop Engineering Inc. of 16.1 million pounds of Inferred Resource (852,000 tonnes at an average grade of 0.858% WO3 at a 0.20% WO3 cut-off), an increase of 59.3% over the previously released relevant historic estimate* of 10.1 million pounds (473,000 tonnes at an average grade of 0.97% WO3) prepared by the American Smelting and Refining Company (ASARCO) in 1970. (Read More)
Granite Lake Moybdenum
The Granite Lake molybdenum project is located in mining favourable central Newfoundland Canada. In January 2008, Playfair announced an exciting new molybdenum discovery hole (GL07-23). Hole 23 encountered very significant molybdenum mineralization through its entire length: 182.4 metres grading 0.050% MoS2 (0.030% Mo), included within this intersection is 58.5 metres grading 0.082% MoS2 (0.049% Mo). Hole 23 was part of a recently completed seven month drill campaign (~ 8,700 metres in 47 holes); much of the drilling was focused on the Moly Hill Zone. Drill results show that the Moly Hill Zone is a large-scale bulk tonnage molybdenum target which warrants extensive additional drilling. (Read More)
YUKON-NWT TUNGSTEN
In early February 2006, Playfair acquired 100% interest in a suite of advanced-stage tungsten properties located in the Yukon Territory and the Northwest Territories; they are the Risby, Lened and Clea tungsten properties.
Risby Tungsten
The advanced-stage Risby tungsten deposit is scheelite-bearing skarn occurrence in the Ross River area, Yukon accessible by a 25 km tractor road from an all-weather highway. The property is located approximately 55 kilometres west of Ross River, Yukon, Canada and is comprised of 38 quartz mineral claims, all 100% owned by Playfair Mining. The property is underlain by lower Paleozoic sedimentary rocks that have been intruded by Cretaceous age biotite-quartz monzonite. (Read More)
The Lened deposits are scheelite-bearing skarn occurrences located between the world-class Cantung and Mactung tungsten deposits along the Yukon- Northwest Territories border. (Read More)
Clea Tungsten
The Clea property is located in the Selwyn Tungsten Belt, one of the world's largest tungsten districts. Previously explored by Hudson Bay Mining and Smelting and Placer Dome, the Clea property hosts two siliceous tungsten skarn showings. Reports indicate that the property has seen approximately 82 drill holes, totalling about 8,500m or ~28,000 feet. Historical highlight drill intercepts of 1.4% WO3 over 1.6m and 2.3% WO3 over 2.2m are reported. In 1980 Placer Dome, based on diamond drilling made a tonnage and grade estimate *of 257,000 tonnes grading 0.93% WO3. (Read More)
NEWFOUNDLAND COPPER-GOLD
Gregory River
Cyprus-type volcanogenic exhalative high-grade copper (2 to >10% Cu) (+/-Zn & Au) and very high-grade lode-type Cu (10 to >15%) in veins. Volcanogenic exhalative-epithermal high-grade gold deposits (4->10 g Au/t). (Read More)
Management
Donald G. Moore
Position: CEO & Chairman
D. Neil Briggs
Position: President & Director
James Robertson, B. Sc., P. Eng.
Position: Director
Jeff Lightfoot
Position: Director
For more information on Playfair'S management click HERE
Major Shareholders
For investor information click HERE
Contact Information
Corporate Office:
Playfair Mining Ltd.
Suite 520 - 470 Granville Street
Vancouver, BC
Canada V6C 1V5
Telephone: (604) 687-7178
Fax: (604) 687-7179
Toll Free: 1-888-244-6644
Website: http://www.playfairmining.com
Email: info@playfairmining.com
Corporate Information
No info available.