Playfair Mining Ltd. (TSX VENTURE:PLY) will drill its 100% owned copper-silver Seal Lake project located in central Labrador, Canada.
Playfair has executed a drill contract to begin Phase 1 drilling at Seal Lake, designed to test the continuity of known mineralization in two areas centred approximately 25 km apart.
The planned program will consist of 4,000m of drilling to test the basin-wide continuity of copper-silver occurrences previously drilled in 1956 and 1972. The first target area is located near the west end of the property. Drilling in this area will test a 10km strike length with holes spaced 1km apart. The second target area is located near the east end of the property. Drilling in the second area will test a 5km strike length with holes spaced 1km apart.
Highlights of previous work on the property are 6.4m of 2.5% Copper at Adeline Island, 11.3m of 1.0% Copper and 30.4 gpt Silver (including 4.9m of 2.5% Copper and 93.0 gpt Silver) at Ellis, 6km East of Adeline Island and 11.0m of 2.9% Copper and 45.9 gpt Silver at Whiskey Lake, about 30 km East of Adeline Island.
Seal Lake copper-silver mineralization covers a large area in the Central Mineral Belt of Labrador. Some 136 copper-silver occurrences, showings and prospects are known on Playfair's 16,825 Ha property. The majority of the 16 showings and 9 prospects occur within a consistent and laterally extensive stratigraphic horizon – the basal gray shale of the Upper Adeline Island Formation. The overall stratigraphy and host rocks at Seal Lake are similar to the rocks hosting the world-famous White Pine copper-silver district in Michigan.
In addition to the Seal Lake copper-silver exploration opportunity, Playfair has four properties with substantial high-grade tungsten deposits. 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 which has recently increased by over 50% to an all-time high price of $325 per MTU.
Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the company.
Source: Playfair Mining Ltd.