Markets

UPDATE: Playfair Mining Pares Earlier Gains, Now Up 9% As Increases Tungsten Resource at Grey River

Playfair Mining Ltd. (PLY.V) was higher by 9% at 6 cents in the afternoon compared to yesterday's %0.055 close, cutting earlier gains, after announcing the results of an updated independent mineral resource estimate on its 100% owned Grey River Tungsten Deposit located near the fishing village of Grey River, Newfoundland.

The company said the results from the updated resource estimate 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.

The increase has resulted from an extension of the No. 10 Vein on the property by further drilling as well as the inclusion of a newly modeled vein on the hanging wall of the main exploration target, the No. 10 Vein and an additional vein to the north which is interpreted as a fault displaced extension of the No. 10 Vein, the company added.

At yesterday's close, PLY shares have touched 20-day SMA $0.055.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More