Playfair Expands VMS Exploration in South Central Norway
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NEWS RELEASE
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24 January 2023
Playfair Expands VMS Exploration in South Central Norway
Playfair has applied for Mineral Rights and have confirmation of first priority to explore the
approximately 216 square kilometer North Østerdalen Project. These rights are issued directly from the
Norwegian government by application to the Directorate of Mining. There are no underlying property
deals or royalties.
The North Østerdalen Project covers almost 50 kilometers of strike of the Hersjø Formation beginning
about 20 kilometers East from the Western boundary of Playfair’s Folldal project and near to Playfair’s
RKV Project (see attached maps). It includes three former copper/zinc mines and numerous sulphide
occurrences some of which have returned significant gold assays. The Sivilvangen deposit was
extensively drilled in 1990 -1991. The last recorded systematic regional exploration over the property
occurred during the early 1980‘s.
In total the RKV, Folldal and North Østerdalen projects contain 11 former copper/zinc mines, 2 drilled
off deposits, several highly prospective showings, and many little-explored mineral occurrences.
Playfair’s Phase 1 exploration at RKV has developed and tested MMI copper anomalies in 7 areas by
drilling 30 shallow holes. Final analytical results have just been received from ALS Minerals, an
internationally recognized global leader in providing geochemical sample preparation, analytical
procedures, and data management solutions.
A total of 297 samples, including 15 blanks,14 standards and 14 duplicates from the 2022 drilling were
cut and se nt for analysis . All 254 core samples contained significant sulphide mineralization.
Anomalous values of copper, cobalt, lead, zinc, gold, and silver were encountered over short core
lengths. No significant ore grade values were encountered.
Playfair believes that the consistent , repeatable high MMI copper values in soil were formed by the
accumulation of acid leached copper ions in topographic low areas. The source of the copper appears
to be in topographic high areas local to the MMI copper anomalies.
Playfair’s Phase 2 exploration at RKV will focus on deeper exploration , in particular the down plunge
extension of known, partially mined deposits such as Røstvangen and Kvikne. The RKV property has
been reduced to reflect this focus.
Don Moore, CEO of Playfair, comments : “Playfair has been exploring in Norway since 2019.
Playfair’s approach is to apply modern technology to the exploration of underexplored historic mining
districts in South Central Norway. These districts with favorable geology and known mineral deposits
have not undergone systematic regional exploration for over 40 years. We are confident that a modern
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exploration approach to selected properties will generate excellent targets for copper, zinc, and gold
discoveries during a time of strong metal prices.”
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
The following summary of former producing mines and significant occurrences is derived from The
Norwegian Geological Survey’s Ore Database . All metal values, mining production tonnages and
geological dimensions reported herein are strictly historical in nature, were derived from third party
sources compiled by NGU, they pre-date are non-compliant with NI 43-101. Playfair is not treating the
historical estimates as current mineral resources or reserves.
Summary of Former Mines
North Østerdalen Project
Fådalsgruvene opened in 1660, there was sporadic production in 5 periods ending in 1788. Little is
known about this mine. NGU sampling of the old dumps showed up to 4.3% Cu, 2.5% Zn and little or
no gold or silver. NGU Ore Database details can be found here .
Vingelen gruve was discovered in about 1800. About 30,000 t of ore was produced in several
periods between c.1800 and 1920 estimated at 1.3 % Cu. Based on limited drilling, the deposit
contains 0.2 Mt of ore. The deposit is not delimited, however. Average contents, based on surface
sampling, are 1.3 % Cu and 3.8 % Zn. NGU Ore Database details can be found here.
Fredrik IV mine opened in 1707 and operated sporadically until 1908. There are several small
operations in the area. The mine only worked for 30 years during its 200-year life. NGU sampling of the
old dumps showed up to 10% Cu with silver values up to 30 gpt and gold values up to 4.7 gpt. NGU
Ore Database details can be found here.
Folldal Project
Folldal Mine (Hovedgruva) opened in 1747, and the first mining lasted until 1807. After that period,
regular production was carried out in several periods until 1941. In total 1.15 mill.t. of ore with 1.9 %
Cu and 1.1 % Zn was produced. The ore was very pyrite-rich and from 1907, pyrite was a very
important product from this mine. The deposit is hosted by meta-basalt (locally pillowed), which is
intruded by a large body of trondhjemite (dated to 488 Ma). The mineralization occurred in four
separate lenses, of which the so-called main lens was the most important. The ore was mined to a
depth of 600 m along plunge and 900 m along strike. The ore thickness was between 1-12 m (the
main lens typically 3-12 m). NGU Ore Database details can be found here.
Nordre Geitryggen Mine produced 2.5 mill.t. of ore with 1.3 % Cu, 3.2 % Zn, 0.2 % Pb, 31 ppm Ag
and 0.2 ppm Au, mainly between 1936 and 1970, and was the largest of the Folldal mines. The
deposit is situated in banded chlorite schists, which are typical tuffitic rocks in the area. Thin lenses of
felsic volcanics and volcaniclastics are inter-banded in the schists, as well as horizons of graphite
schist. The ore zone has a strike length of 550 m, and was mined to a vertical depth of 550 m. The
average ore thickness was 1.7 m but varied between 0.1 and 10.4 m because of folding. The ore was
generally a banded pyrite-sphalerite-pyrrhotite-chalcopyrite ore with local enrichments of magnetite.
The matrix was dominated by calcite and quartz. NGU Ore Database details can be found here.
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Søndre Geitryggen Mine operated in the earliest periods 1770-1848 and 1860-1878, it was mined
for copper in the eastern part of the deposit where the copper grades were the highest (stringer
zone), while copper, zinc and pyrite were mined in the western zinc-dominated part in the last mining
period (1952-1965). In total c. 0.5 Mt of ore grading 0.8 % Cu, 2.4 % Zn was taken out, and the mine
had a strike length of 400 m and a vertical depth of 165 m. Mining ended because workers were
needed in the new, large mine at Tverrfjellet, not because the deposit was mined out. The deposit is
situated in the upper parts of a 20-50 m rhyodacite lens, in contact with overlying tuffitic schists. The
main massive ore is a banded pyrite-sphalerite ore. NGU Ore Database details can be found here.
Nygruva Mine was in production in three periods from 1783 to 1952. In total 0.3 Mt ore was
produced with 0.85 % Cu and 3.5 % Zn. The ruler-shaped deposit has a length of 680 m, width of 60-
70 m and an average thickness of 3 m. Two normal faults cut across the deposit of which the
westernmost one marks the end of the known deposit. Investigations (as late as in 1990) to find the
continuation have not been successful. The massive part of the ore is a banded pyrite-sphalerite ore
with lesser chalcopyrite and pyrrhotite in a quartz-calcite matrix. In the stratigraphic footwall of the
massive ore are irregular lenses of zinc or copper-rich ore, which locally are enriched in gold (up to
7.1 gpt). NGU Ore Database details can be found here.
RKV Project
Kvikne Mine area was discovered in 1629 and was mined intermittently from 1632 to 1789 when
mining ceased after major flooding. NGU estimate about 250,000 tonnes were mined grading 2.4%
Cu and 1.8% Zn. The Kvikne deposits are closely associated with amphibolite. The deposits consist
of several lenticular bodies, which have their long axes parallel to regional fold axes. NGU Ore
Database details can be found here.
Røstvangen Mine operated between 1908 and 1920 when mining ceased because of the low copper
price. NGU estimate About 388,000 tonnes of ore was produced containing on average 2.65 % Cu, <
1 % Zn, 43 % S and traces of Pb, with Ag and Au grades of 10 to 80 gpt and 0.3 to 2.0 gpt,
respectively. The deposit consists of several small elongate, lenticular bodies, which all have their
long axes parallel to regional fold axes. Unmined “reserves” of 100,000 are reported. NGU Ore
Database details can be found here.
Borsjoho Deposits were explored between 1910 and 1920 by the same company operating
Røstvangen Mine. Work ceased following the closure of Røstvangen Mine. There was a small
amount of production from the Finnhaug lens from 1919 to 1921. In 1946 Bjørlkke (NGU) suggested
900,000 tonnes with 1.8-2.0% copper and at least 2 million tonnes of probable ore. Recent NGU
comments suggest: “These estimates appear to be somewhat optimistic and based on flimsy data
basis”. There are three lenses which plunge ESE at about 35°-45°. NGU Ore Database details can be
found here and here.
Rødalen Deposit was mined in the period between 1750 and 1810. About 40,000 tonnes of copper
ore were produced. Old reports describe the ore as 1-2 m wide ore zones rich in chalcopyrite and
zones of massive pyrite and pyrrhotite. NGU Ore Database details can be found here.
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Summary of Significant Occurrences
North Østerdalen Project
Sivilangen Deposit was discovered in 1917 with exploration in 1953, 1974-75 and 1990-91. Drilling
by Folldal Verk in 1990–1991 revealed that the deposit is ruler-shaped with an average thickness of
2.2 m and that it contains about 0.4 Mt with 0.69 % Cu and 4.31 % Zn. NGU sampling of the old
dumps showed up to 10% Cu, 10% Zn with silver values up to 70 gpt and gold values up to 0.7 gpt.
NGU Ore Database details can be found here.
Vardtjønna is the southernmost and in extent the largest of the mineralized zones in the Vingelen
District. This area has a length of at least 1.2 km and a width of up to 130m. There are eight smaller
showings in the area, of which five are associated with a major alteration zone of quartz-sericite
schist. One of these, the Nedre Vardtjønnbekken is a small showing with the only known work being
NGU sampling in 1989. Two analyses of the massive ore yielded 0.5, 1.3 % Cu, 1.5,9.1 % Zn, 0.1-0.3
% Pb, 26, 27 gpt Ag and 9.6, 11.0 gpt Au. NGU Ore Database details can be found here and here.
Flatskarvåsen showing was sampled by NGU in 1998. Sampling of the old dumps showed up to 4.2%
Cu with gold values up to 4.8 gpt. NGU Ore Database details can be found here.
RKV Project
Vakkerlien Deposit was discovered by A/S Sulfidmalm (a Falconbridge Nickel Mines subsidiary) in
late 1974. In 1977, after drilling 109 holes a resource of 400,000 tonnes grading 1.0% Ni and 0.4%
Cu was calculated using a 0.4% Ni cut-off. The main host for the mineralization is a metagabbroic
rock, partly ultrabasic surrounded by calcareous biotite-rich schists cross-cut by trondhjemitic veins.
The main gabbro body has been sampled (1200m) parallel to the regional NW-SE lineation dipping
about 20 ° SE. Extensive investigations were committed by Sulfidmalm A/S from 1974-1977,
including geological mapping, geophysical, and drilling (>100 cores). Additional geophysical
measurements and core extraction (101 cores, 3400m) were done by Folldal Verk A/S in the years
1991 and 1992. NGU Ore Database details can be found here.
Playfair now will compile available information and plan exploration using modern methods for this
underexplored highly prospective area.
Sample Analysis and QA/QC Program
Samples from the 202 2 drilling were cut and sent for analysis. Preparation was at the Malå, Sweden ALS
laboratory with analysis at the Loughrea, Ireland ALS laboratory . ALS Minerals is internationally recognized as
the global leader in providing geochemical sample preparation, analytical procedures, and data management
solutions, with its European hub lab based in Loughrea, Co. Galway. Playfair Mining uses a quality
assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the
insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. Drill core is
photographed, logged, and cut in half with one half retained in a secured location for verification purposes and
one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry,
an independent ISO 9001:2001 certified laboratory, in Malå, Sweden and pulps are sent to ALS Geochemistry in
Loughrea, Ireland for analyses. The entire sample is crushed to 70% passing -2 mm and a riffle split of 250
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grams is taken and pulverized to better than 85% passing 75 microns (PUL-31). Samples are analyzed by multi-
acid (4-acid) digestion/ICP-MS Package for 48 Elements (ME-MS-61). Additionally, samples are analyzed for Au,
Pt and Pd using a standard fire assay from a 30 -gram pulp (PGM -ICP23). Overlimit sample values for silver
(>100 g/t), lead (>1%), zinc (>1%), and copp er (>1%) are re -assayed using a four -acid digestion overlimit
method with ICP-AES (ME-OG62). No QA/QC issues were noted with the results reported herein.
The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as def ined by
National Instrument 43-101. All metal values, mining production tonnages and geological dimensions reported
herein are strictly historical in nature, were derived from third party sources compiled by NGU and pre -date NI
43-101 guidelines. The Comp any and its Qualified Person believe that the data will withstand scrutiny for
inclusion and provides a conceptual indication of the property potential relevant to ongoing mineral exploration.
The road to a cleaner environment includes electric vehicles. Electric vehicles
need copper, nickel, and cobalt. There is no green future without minerals.
For further information visit our website at www.playfairmining.com or contact:
Donald G. Moore D. Neil Briggs
CEO and Director Director
Phone: 604-377-9220 Phone: 604-562-2578
Email: [email protected] Email: [email protected]
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 ass umptions made by and information currently available to Playfair management.
Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limita tions, 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 supervis ion, season ality,
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.