The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million shares priced at $0.15 per share.
Additional Information:
Video Transcript:
I’m Cassandra Bolinski for Investmentpitch Media
Playfair Mining has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million shares priced at $0.15 per share.
The shares are currently trading at $0.16.
The proceeds will be used for exploration on the RKV project in Norway and for general working capital purposes.
The new RKV project has set the company in a new direction as it begins exploring for copper, cobalt and nickel in a historic base metal area of Norway.
Playfair is planning a core drilling program on its large 201 square kilometer, 100% owned RKV Copper Project in south central Norway.
The highly prospective under-explored project is located in a historic copper producing district in mining friendly Norway, where more than 80 million tons are known in 10 large VMS copper and zinc deposits within 75 Km of the RKV project.
The RKV Project contains 2 past producing VMS copper mines, a nickel-copper deposit and over 20 additional known mineral occurrences.
The company has delineated 7 drill targets and to date has had 6 approved by the Norwegian Directorate of Mining.
The drill targets, which are Mobile Metal Ion or “MMI” copper anomalies, were discovered by sampling target areas generated by Windfall Geotek's proprietary Computer Aided Resources Detection System.
All 7 drill targets show compelling coherent MMI copper anomalies with multiple MMI copper values greater than 6,000 ppb.
The highest value recorded was 53,300 ppb MMI copper.
For more information, please visit the company’s website at www.playfairmining.com, contact Don Moore, CEO, at 604-377-9220 or email DMoore@wascoMGT.com, or contact Neil Briggs, Director, at 604-562-2578 or email NBriggs@wascoMGT.com.
I’m Cassandra Bolinski for Investmentpitch Media
