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Ox Mountain Project: Drilling to Resume at Cloonacool
Publié le 14 septembre 2017
Re: News - Thursday, September 14, 2017
Title: Ox Mountain Project: Drilling To Resume at Cloonacool
Playfair is mobilizing a drill crew for the resumption of drilling on its Ox Mountain Prospects in County Sligo, Republic of Ireland. The drill program will focus on the CAZ (Cloonacool Alteration Zone) structure as defined by the 2016 exploration.
Playfair has only tested a very small part of a very large structure at Cloonacool. The primary focus of this 3000 meter phase of drilling is a 1.5 km long portion of the structure proximal to the gold bearing angular blocks that originally focused exploration efforts on this area and led to the discovery of gold in bedrock.
The exploration on the balance of the 4.5 km long structure will be results-driven.
To date, Playfair Mining has completed 947 metres of core drilling in 9 holes at the Cloonacool prospect, the first ever in the area, testing an area 200m by 200m to a maximum depth of 120m within the 1.5km cluster of gold bearing angular blocks. This area is associated with a fault contact which, because it contains graphite, can be tracked with geophysics for over 4km.
The drilling discovered a thick (100 to 150m), zone of silicified, bleached and altered Dalradian sediments - the Cloonacool Alteration Zone (CAZ). This discovery has increased confidence that all of the gold bearing angular blocks are derived from the CAZ which is variably gold bearing, silicified, chloritized and contains graphitic sections at its northern margin.
The hydrothermal alteration and mineralization is orogenic and, as such, is expected to continue to depth.
Gold values in excess of 1 gpt were encountered in all 9 drill holes (See NR-13, Dec. 5, 2016).
Don Moore, Playfair's CEO commented "I am extremely encouraged by results to date; we have discovered a thick zone of hydrothermal alteration with elevated gold values in a part of Ireland where, until Playfair and Bowpark's work, gold was unknown."
The one hole drilled at Cabragh overshot the intended target. Drill hole locations have now been permitted to test the geophysical conductor proximal to the cluster of gold bearing float at Cabragh.
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 carrying out and overseeing these approved exploration programs on behalf of Playfair and Bowpark. 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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