Playfair Continues Modern Exploration of RKV Cu-Co-Ni Project in Norway
Playfair Mining’s 100% owned RKV copper-cobalt-nickel project currently encompasses 330 square kilometers in a historic mining area about 100 km south of Trondheim by road. Two historic copper mines, Kvikne and Rostvangen, a drilled nickel-copper deposit, Vakkerlien, and over 20 known mineral occurrences mapped and sampled by the Norwegian Geological Survey (NGU) together with an extensive digital database formed the initial impetus for exploration in the area.
Playfair has defined a 40 km long highly prospective mineralized trend characterized by historic mines, numerous mineral showings, favorable geology, geophysical anomalies, Windfall Geotek CARDS targets and high MMI geochemical responses.
Playfair’s exploration of the RKV Project in 2019 proved that the powerful combination of CARDS AI and MMI geochemistry is exceptionally efficient in discovering previously unknown strong targets in an area which has been explored for almost 400 years. Playfair has therefore contracted Windfall Geotek to evaluate additional property at the RKV Project using its proprietary CARDS platform. MMI geochemical surveys will then evaluate any new CARDS targets.
Geologically the mineralized trend contains quartz-mica pelitic schist, amphibolite, stratiform pyrite-pyrrhotite, iron formation, and graphitic sediment. These rock types give rise to numerous laterally continuous strong electromagnetic anomalies, typically 1 to 4 km long associated with high magnetic anomalies.
To prioritize areas of the trend for further exploration Playfair contracted Windfall Geotek to evaluate the project using its proprietary CARDS (Computer Aided Resources Detection System) platform. CARDS uses datamining and pattern recognition to identify targets with a high statistical probability of similarity to known occurrences of economic minerals on the RKV Project. The targets generated by CARDS at Playfair’s RKV Project covered less than 1% of the total area evaluated.
Twenty-four of the CARDS targets were then evaluated by MMI (Mobile Metal Ion) soil geochemistry, a proven advanced geochemical exploration technique known to find mineral deposits. SGS Canada Inc. (“SGS”) is the sole provider of MMI technology. Fifteen of the twenty-four targets yielded MMI values in excess of 50 times background in one or more of copper, cobalt or nickel. At one target, Storboren, a high value of 48,400ppb MMI Cu was reported which according to SGS is “one of the highest recorded values of MMI Cu in a soil”.
Follow-up MMI sampling showed the Storboren Copper Anomaly is at least 200m long and 75m wide. It is open to the NW and SE where no MMI samples have been taken. Many historical mines and deposits in this general area have significant plunge lengths, for example the Vakkerlien nickel-copper deposit is known to extend at least 1,200m down-plunge. MMI Cu values as high as 53,300ppb were found in the follow-up sampling. The Storboren Copper Anomaly now contains 18 values over 6,000ppb MMI Cu. SGS states, regarding values over 6,000ppb MMI Cu, that: “Many if not all of these are likely to be associated with weathering copper sulphides”.
Playfair is funded for this year’s exploration at RKV which is expected to be underway shortly. Initial plans are to follow-up last year’s results on 14 grids with MMI values over 50 times background in one or more of copper, cobalt or nickel. At the Storboren Copper Anomaly auger sampling, reconnaissance geological mapping, prospecting and a tightly magnetic survey is planned in preparation for drilling.
The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.
The road to a cleaner environment includes batteries. Batteries use copper, nickel and cobalt.
For further information visit our website at www.playfairmining.com or contact:
Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: dmoore@wascomgt.com
D. Neil Briggs
Director
Phone: 604-562-2578
Email: nbriggs@wascomgt.com
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.