PLY Playfair Mining Ltd

Playfair Mining Ltd. (TSX VENTURE:PLY) is pleased to provide an update of the
ongoing drill program at its 100% owned copper-silver Project at Seal Lake in
Central Labrador. To date 20 holes, totalling 3,430m metres have been completed;
analyses have been received for 10 of these holes. A total of 24 widely spaced
holes are planned for this winter 2011 drill phase. 


Results have been received for the initial tendrillholes. All ten drillholes
intersected the favourable reduced Adeline Island Formation rocks with
cumulative thicknesses ranging from 40.1 metres in drillhole SL-11-06 to 4.65
metres in drillhole SL-11-08. In addition to the results listed below, the seven
remaining drillholes all contain anomalous amounts of copper within the
favourable reduced rocks relative to the other sedimentary rocks in the area. 


These results provide support to Playfair's exploration theory that the
extensive copper-silver mineralization at Seal Lake is syngenetic or diagenetic
(that is formed at the same time as the host rocks or shortly afterwards) and
not epigenetic (that is formed at a considerably later time than the host
rocks). The implication is that the copper silver mineralization occurs
throughout the Seal Lake basin and that considerable tonnage can potentially be
developed. Potentially economic copper and silver grades were intersected in
three of Playfair's drillholes.




----------------------------------------------------------------------------
Drillhole     From metres To metres  Core Length metres  Copper%  Silver GPT
----------------------------------------------------------------------------
SL-11-02             30.1      30.4                 0.3    0.64         7.74
----------------------------------------------------------------------------
and                  34.1      34.6                 0.5    3.07        26.50
----------------------------------------------------------------------------
SL-11-08             18.0      18.5                 0.5    2.40        24.90
----------------------------------------------------------------------------
and                  26.9     27.65                7.75    0.52         6.64
----------------------------------------------------------------------------
and                  38.3      39.0                0.70    1.22         6.51
----------------------------------------------------------------------------
SL-11-10             90.6      98.5                7.90    1.76         56.2
----------------------------------------------------------------------------
including            90.6      93.3                2.70    2.96        90.50
----------------------------------------------------------------------------



Drillholes SL-11-02 and SL-11-08 were both drilled at Adeline Island and
drillhole SL-11-10 was drilled at the Ellis Prospect and was designed to test
the validity of the mineralization reported in drillhole K-10 which was drilled
in 1956 and had poor core recoveries in places. A comparison of the two
intersections is:




----------------------------------------------------------------------------
                   Year Core Length  Core Angle   Estimated                 
Drillhole       Drilled      metres     degrees  True Width  Copper%  Gpt Ag
----------------------------------------------------------------------------
SL-11-10           2011        7.90          80         7.8    1.76     56.2
----------------------------------------------------------------------------
K10                1956       11.28          50         8.6    0.98     30.4
----------------------------------------------------------------------------



The estimated true widths from the two drillholes are very similar but the grade
of both copper and silver is about 80% higher in Playfair's 2011 drillhole.
Drilling techniques have improved considerably in the 55 year interval between
the two drillholes, in particular core recoveries are much better using wireline
drilling when compared to standard drilling. Core recovery was close to 100% in
Playfair's 2011 drillhole while core recovery in the 1956 drillhole K-10 was as
low as 25% in some sections and averaged 85%. These results suggest that some of
the better grade mineralization was not recovered in the previous drilling.


The Seal Lake Project covers 16,825 hectares in Central Labrador. Some 136
copper and copper-silver occurrences including 16 copper-silver showings and 9
copper silver prospects, all discovered mainly via prospecting in the 1950's,
are known on the property. Almost all the showings and prospects occur within a
consistent and laterally extensive stratigraphic interval - the basal gray shale
and adjacent quartzite of the Upper Adeline Island Formation. The copper-silver
enriched Adeline Island Formation is believed to form a canoe shape, with the
rock unit extending over an estimated area measuring about 33km long by up to
4.4km wide. Playfair's Seal Lake Copper Silver Project covers the entire mapped
extent of the favourable sedimentary unit and its probable subsurface
continuation.


Playfair believes the mineralization at Seal Lake is a reduced facies
sediment-hosted copper-silver mineralization of Kuperschiefer-type. It is most
closely analogous to the White Pine deposit in Michigan, USA that is reported by
the USGS to contain 688 million tonnes grading 1.2% copper and 40 gpt silver.
Playfair's current drill program was designed to test this geological
interpretation by drilling widely spaced holes in several parts of the extensive
property.The drill program is ongoing and further results will be reported when
available.


Tungsten Update

In addition to the Seal Lake copper-silver exploration opportunity, Playfair has
four properties with substantial high-grade tungsten deposits. Playfair's four
tungsten deposits have all had significant work completed on them. Two of the
deposits (Risby and Grey River) have NI 43-101 compliant resource estimates
while the other two deposits (Lened and Clea) have historical noncompliant
NI43-101 resource calculations. Playfair continues to believe that there is a
strong case for an impending global Tungsten shortage, as is evidenced by the
continued strong rebound in the price of Tungsten.


Tungsten has recently traded to an all-time high of $408 per Metric Ton Unit of
APT (or $18.51 per pound), an increase of more than 50% over recent lows. Please
see our website for an internet link for the spot Tungsten price.


ON BEHALF OF THE BOARD

D. Neil Briggs, Director

Core samples were collected under the supervision of James Harris, P.Geo. NQ
diameter diamond core was descriptively logged on site, aligned, marked for
sampling and then cut in half, longitudinally, using a rock saw. 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 directly to ActLabs preparation facility in Happy Valley- Goose Bay
Labrador, they were dried, crushed and pulped. Sample pulps were then delivered
to ActLabs in Ancaster Ontario (an ISO 17025 accredited facility). Samples were
crushed to with up to 75% passing 2mm and split using a riffle splitter. An
approximately 250 gram sub-sample split was pulverized using a ringmill to
approximately minus 150 mesh (105micron). A 0.5 gram split from the resulting
pulp was then subjected to an aqua regia digestions and a multi-element ICP-MS
analysis (code Ultratrace 1). Results with copper greater than 5,000 ppm were
subjected to a sodium peroxide fusion digestion and ICP-OES analysis (code 8).
Results with silver greater than 30 ppm values were subjected to an analysis by
fire assay with a gravimetric finish (code 8-Ag). All coarse rejects and pulps
are currently stored at Actlabs Labrador. Assay standards and blanks were
inserted into sample shipments as a quality control measure in addition to the
internal quality control measures applied by the laboratory.


Michael Moore, P.Geo, is the qualified person who has reviewed the technical
information contained in this news release on behalf of the Company.


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. 


www.playfairmining.com

Playfair Mining (TSXV:PLY)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Playfair Mining (TSXV:PLY)
Historical Stock Chart
Von Jun 2023 bis Jun 2024