PLY-v...in the news:
Re: News Release - Monday, November 26, 2001
Bedrock Confirmed as Source Of Soil Geochem Anomaly
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Playfair Mining Ltd. reports that drilling on the 100% owned San Miguel
property in central Mexico commenced on November 21, 2001.
Playfair's San Miguel property contains the extensive E-1 soil geochemical
anomalies and is located about 15 km southeast of the Charcas Mining
District. Mines have operated in Charcas for about 400 years and Groupo
Mexico, a major mining company, is currently producing 4,500 tonnes daily
making Charcas Mexico's largest zinc producer.
Playfair drill program is testing the very large E-1 soil geochemical
anomalies discovered by Playfair during regional Mobile Metal Ion (MMI)
soil geochemical surveys. The anomalies were delineated using conventional
soil geochemical surveys.
Playfair's exploration work has defined 3 distinct soil geochemical
anomalies E1-S, E1-N. and E1-NW. Together the 3 anomalies cover an area of
about 11 x 3 km. Peak conventional soil geochemical values were as high as
8.5 % zinc, 4.8% Pb, 0.8% Cu and 146 g/t silver. No analysis for gold was
undertaken.
Playfair's current reverse circulation drill program is focused on the E1-N
anomaly and is designed to discover the outcrop source of the extensive
anomaly.
The rock types, alteration and mineralization encountered to date in
Playfair's drill program are consistent with those of a Carbonate
Replacement Deposit (CRD)mineralized system.
In the past few months there has been much speculation as to whether the
source of the large geochem anomaly was contamination. The company can now
confidently state that this is not the case. The drilling to date has
provided clear evidence that the soil geochemical anomalies directly
overlie their bedrock sources over 60 metres below.
The program demonstrates a whole new dimension of exploration for new
mineral deposits in overburden filled valleys near major mineral districts
in Mexico.
Initial drilling tested the sharp western margin of the E1-N soil
geochemical anomaly. All holes were drilled vertically. Preliminary field
logging of the holes is reported below.
Drill Hole SMN001 was located at 2554500N and 289645E. It encountered
bedrock at 81 metres and was completed at 93 metres. Dark grey to brown
limestone was intersected with calcite stringers and oxides (hematite and
limonite) on fractures. The rock was felt to be indicative of a nearby
fault zone.
Drill Hole SMN002 was located at 2554500N and 289700E (55 metres east of
SMN001). It encountered bedrock at 67 metres and was completed at 134
meters. Between 67 and 130 metres strongly hydrothermally altered
limestone was encountered with pervasive veins, veinlets and micro veins of
quartz and/or calcite occurring throughout the section. Disseminated
oxidized pyrite and a zinc mineral were also observed. At 130 metres the
drilling intersected a fault zone and from 130metres to 134 metres
intersected fresh, unaltered limestone.
Drill Hole SMN003 was located at 2554500N and 289810E(110 metres east of
SMN002). It encountered bedrock at 69 metres and was completed at 116
metres. Strongly hydrothermally altered limestone was encountered
throughout the hole. As in SMN002, pervasive veins, veinlets and micro
veins of quartz and/or calcite were throughout the section. Zinc minerals
and oxides of sulphides were noted in some sections.
Drill Hole SMN004was located at 2554200N and 290000E(190 metres east and
300 metres south of SMN003). It encountered bedrock at 66 metres and was
completed at 79 metres. Hydrothermally altered limestone with pervasive
hematite alteration was encountered over the full length of the bedrock
intersection.
The current phase of the drill program of 1500 metres will be completed
before Christmas. Samples from the first three holes have been submitted to
Bondar Clegg Laboratories for analysis. |
