Playfair Mining Ltd.

Playfair Mining Ltd.

October 14, 2005 09:35 ET

Playfair Expands Tungsten Exploration

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 14, 2005) - Playfair Mining Ltd. (TSX VENTURE:PLY) is focused on the exploration and development of tungsten mineralization in Canada. To supplement its 100% owned Grey River tungsten property, Playfair has recently acquired, by staking, a 100% interest in an area around Granite Lake, Newfoundland which contains 22 well documented tungsten occurrences.

The newly acquired Granite Lake property is 4,150 hectares in size and covers the bulk of an extremely large and prominent lake sediment geochemical anomaly. Release of regional lake sediment data by the Newfoundland Department of Mines and Energy in 1978 spurred a staking rush that was followed by several years of exploration in the area. Exploration by five major mining companies in the period from 1979 to 1983 led to the discovery of numerous occurrences of tungsten and molybdenum mineralization. The fractured land ownership at that time prevented comprehensive exploration and little exploration work has been carried out since then.

Mapping and sampling by the Newfoundland Department of Natural Resources are reported in Mineral Resource Report 7 entitled "Tungsten-Molybdenum Mineralization in the Granite Lake - Meelpaeg Lake Area, Newfoundland", published in 1996. This publication reports assay results on the new Playfair Granite Lake property that include the following 4.44% WO3 over 5.0 metres, 1.90% WO3 over 5.0 metres, 2.75% WO3 over 1.5 metres and 3.06% WO3 over 2.0 metres.

The lake sediment anomaly showed highly anomalous values for W, Mo, F, Cu, Pb, Zn and Ag and includes some of the highest Mo and F values ever recorded in lake sediments in Newfoundland.

The 1996 Newfoundland Government report concluded, "There is good potential for high-grade, wolframite-mineralized veins similar to those at Grey River. However, the large geochemical anomalies, and the style of mineralization in sheet veins, similar to many of the major porphyry-type deposits implies potential for major large-tonnage, low-grade, stockwork tungsten-molybdenum-bismuth deposits".

Combined with the buoyant Tungsten market, the acquisition of the Granite Lake Tungsten property will provide Playfair exploration potential to complement the 'pounds in the ground' on its 100% owned Grey River property. The Geological Survey of Canada, in 1984, described the Grey River Property as "one of the largest typical wolframite deposits in Canada". Wolframite is a principle ore of tungsten and given the recent increases in the price of tungsten and the excellent forecast supply and demand fundamentals Playfair is making the advancement of their important and significant tungsten properties a key Company priority.

Playfair is aggressively advancing its 100 % owned Canadian tungsten deposit towards production.

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" D. Neil Briggs"

D. Neil Briggs

President and Director

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Contact Information

  • Playfair Mining Ltd.
    Wayne Meredith
    (604) 687-7178 or Toll Free: 1-888-244-6644
    (604) 687-7179 (FAX)