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Playfair Mining Ltd. (TSXV:PLY) has completed a NI 43-101 compliant Preliminary Economic Assessment (PEA) for its 100% owned Grey River Tungsten deposit in Newfoundland, indicating that Grey River is a potentially viable project that will return a positive net discounted cash flow.
The results from the updated mineral inventory indicate 1.2 million tonnes of Inferred mineralization grading 0.730% WO3 containing 18.8 million pounds of tungsten trioxide or 853,000 metric tonne units (MTU). The updated resources are reported at vein width using a 0.20% WO3 cut-off with all areas grading less than 0.2% WO3 over a 1 m minimum mining width removed from the inventory. Copper is present in the deposit but has not been reported in the mineral inventory, so it has been excluded from consideration in the PEA. The designated underground mining areas are confined to the Number 10 Vein.
Click here to read the Playfair Mining (TSXV:PLY) press release