Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : PLAYFAIR MINING - PLY . V -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (233)	7/25/2001 8:01:22 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 505

Hello ELiz, I found this in a March 1999 press release by Layfield.. " Layfield has entered into an agreement to acquire a 100 per cent interest in the over one million hectare Nicolas North and Conception properties in Mexico. The properties are within a major geological belt hosting carbonate replacement deposits (CRDs) extending from Arizona in the north to Central Mexico in the south. This belt is one of the largest zinc-silver-lead regions in the world and has been mined since before the 16th century. Layfield's properties are in the central Mexico (Altiplano) portion of this belt where some of the world's largest zinc-silver-lead CRDs are located. The majority of known deposits are in areas of outcrop and were found by prospecting. Recent discoveries in the region have been made, in large part, in overburden covered areas using modern exploration techniques. Layfield's properties cover a large area with extensive overburden cover and no record of modern exploration. The Altiplano CRDs are generally associated with the flanks of early to mid-Tertiary diorite to granite intrusions. Many of the deposit related intrusions have strong magnetic signatures that provide a regional scale guide to identifying favourable target areas for exploration. The agreement covers 11 prospecting licences in Zacatecas and San Luis Potosi states of Mexico, totalling 1,020,568 hectares. The purchase price to Layfield is strictly reimbursement of staking and acquisition costs incurred by the vendor, being approximately $412,758, which Layfield will pay through the issuance of 2.7 million shares at 15 cents per share. There are no royalty interests or finders' fees payable in this transaction. Completion of the acquisition is conditional upon Layfield completing its due diligence investigations, and upon receipt of Vancouver Stock Exchange approval. " And then this in MAY 2000. "Layfield Resources has received initial exploration results on its 100-per-cent-owned Nicolas North property in Mexico. Six large MMI geochemical anomalies have been located, one of which -- anomaly E1 -- is exceptional in both size and extent. Follow-up surveys and drilling are planned. The property is located within a major geological belt hosting carbonate replacement deposits (CRDs) extending from Arizona in the north to central Mexico in the south. This belt is one of the largest zinc-silver-lead regions in the world and has been mined for over 400 years. For example, the Conception del Oro district is reported to have had 40 million tons of production and to still contain 48 million tons of reserves at an average grade of 12.8 per cent zinc, 5.8 per cent lead, 275 grams per tonne silver together with copper and gold credits. Most of the known deposits are in areas of outcrop and were found by prospecting. Recent discoveries in the region have been made, in large part, in overburden-covered areas using modern exploration techniques. Layfield's properties cover a very large area with extensive overburden cover and no record of modern exploration. The Altiplano CRDs are generally associated with the flanks of early to mid-Tertiary diorite to granite intrusions. Many of the deposit-related intrusions have strong magnetic signatures that provide a regional scale guide to identifying favourable target areas for exploration. Layfield carried out reconnaissance scale MMI geochemistry on the flanks of magnetic features. On the basis of the results, Layfield is in the process of reducing its initial one million hectares to only the most prospective area totalling about 61,000 hectares. The retained area, the San Miguel project, is within 15 kilometres of the Carcas mining district. This historic mining camp is Mexico's largest zinc producer and boasts one of the lowest mining costs in the country. MMI anomaly E1 covers an area of over three kilometres and the highest stacked response ratio anomaly is 87,500, in general MMI stacked response ratios of greater than 40 are considered anomalous. MMI personnel have reviewed the E1 data and comment: "We are very excited by this data, normally anomalies of this extent and magnitude are seen during orientation surveys over significant deposits at a shallow depth, often associated with producing mines. Clearly, Layfield is on to something."