• 23.9 gpt gold found at Cabragh
• 3.38 gpt gold over 1.2 metres sampled at Cloonacool

Playfair Mining is pleased to report the results of ongoing work on 3 contiguous prospecting licenses in the Ox Mountains, County Sligo, Ireland. Reconnaissance prospecting of the 3 licenses previously provided exciting evidence of gold mineralization in float boulders in a virtually unexplored area containing 20 kilometers of strike length of the same major geological structure as Dalradian’s multi-million ounce Curraghinalt deposit.

Additional prospecting at Cabragh identified a 70 cm boulder of strongly micro-fractured white quartz with abundant galena on one side and minor pyrite and malachite. This boulder returned 23.9 gpt gold and is located approximately 350m ESE on strike of previously located boulders that returned 3.45 and 3.09 gpt gold.

The Cloonacool Prospect is located about 10 km WSW from Cabragh. Previous work by Bowpark on behalf of Playfair located a coherent area of 1,500 metres by 500 metres containing several well mineralised boulders and an outcropping gold-bearing quartz vein. Eight boulders in this area range from 1.30 gpt gold to 17.2 gpt gold. An additional 14 samples in the area are anomalous in gold with values between 112 ppb and 697 ppb.

Two lines of chip samples were completed over parallel outcropping quartz veins at Cloonacool. Results showed 3.38 gpt gold over 1.20 metres comprising 5.58 gpt gold over 50 cm from 210-260cm, and 1.80 gpt gold over 70cm from 140-210cm. The total width of the quartz vein is 2.90 metres with marginal samples 50-140cm and 260-340cm returning low anomalous gold values. It is notable that the highest grade (5.58 gpt gold) occurs in the centre of the vein where pyrite and galena were observed. This correlates with a previously reported boulder located approximately 20m north which returned 3.57 gpt gold and also contained pyrite and galena.

Geological mapping at Cloonacool identified a WNW trending shear structure over a 2km strike length which is poorly exposed but is probably the source of the mineralisation.

The next phase of fieldwork will include mechanical trenching at Cloonacool and detailed soil sampling at Cabragh. Playfair expects that drill targets will be located at one or both projects following this next phase of fieldwork.

Playfair Mining has entered into an Option Agreement to acquire up to a 100% interest in Bowpark Exploration (Ireland) Ltd. Bowpark is a private company registered in Ireland and holds as its sole asset 3 contiguous prospecting licenses over the Ox Mountains in County Sligo, Ireland.

Richard Parker and Andy Bowden are the current owners of Bowpark and are both experienced geologists. Andy Bowden has over 40 years’ experience in exploration for a wide variety of metals mainly in Ireland. He was responsible for the discovery of the Galmoy R-zone at the Galmoy zinc mine in Ireland. Up until May this year, when he retired, he sat on the Board of Directors for the Institute of Geologists of Ireland. Richard Parker has over 40 years’ experience as a mineral exploration geologist and directed programs resulting in the discovery of the Cononish gold deposit in Scotland and the Tatestown zinc deposit in Ireland. He has worked in over 40 countries.

Richard Parker and Andy Bowden are carrying out and overseeing these approved exploration programs. Both are qualified persons as defined by National Instrument 43-101 and they have reviewed and approved the contents of this News Release.

ON BEHALF OF THE BOARD 

“D. Neil Briggs”

D. Neil Briggs
Director

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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.