Playfair Mining: New CARDS targets identified at RKV Project, Norway

Thursday, 15. October 2020 15:00

Vancouver, British Columbia--(Newsfile Corp. - October 15, 2020) - Playfair (TSXV: PLY) (FSE: P1J1) (OTC: PLYFF) has successfully completed a second round of the CARDS Artificial Intelligence (AI) process in a historic mining district in Norway. Windfall Geotek Inc. (TSXV: WIN), under contract to Playfair, carried out the evaluation on 44 square kilometers acquired by Playfair after completion of the first AI evaluation. Playfair's RKV project now comprises contiguous claims covering 344 square kilometers.

The new CARDS evaluation yielded two anomalies about five km SSW of Storboren and along strike. There are several mineral showings adjacent to the strongest new anomaly, T-1. The most significant of these, the Rødalen deposit, is shown below.

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Rødalsgruven, proximal to new CARDS target T-1 was mined from 1750 to 1810

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According to the Norwegian Geological Survey (NGU):

"The Rødalen deposit was mined in the period between 1750 to 1810, with further exploration until 1918. About 40 000 t of copper-rich ore was produced. The deposit is hosted by quartzite and thin horizons of amphibolite in generally calcareous biotite mica schist of the Gula group. The mineralization is totally covered by waste, but old reports describe the ore as 1-2 m wide ore zones rich in chalcopyrite and zones of massive pyrite and pyrrhotite."

NGU reports that samples taken from the dump by NGU geologists contained up to 1.81% copper and 0.92 gpt gold. (see Rødalen Deposit Area for details).

Playfair has already carried out preliminary MMI sampling over part of the T-1 anomaly in September 2020. Results are pending.

Windfall Geotek's proprietary CARDS (Computer Aided Resources Detection System) platform 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.

Twenty-four of the targets identified by CARDS then were 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 more than 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. 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".

Many historical mines and deposits in this general area have shallow plunges and extend for significant down-plunge lengths, for example Playfair's Vakkerlien nickel-copper deposit is known to extend down a shallow plunge for at least 1,200m.

Playfair Mining's 100% owned RKV copper-cobalt-nickel project currently encompasses 344 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.

The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.

There is no green future without minerals. 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.

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.

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