Northwire Canada EditionTuesday, September 22, 2026
Northwire
GOLD 4374.40 −0.2% SILVER 66.51 +0.1% COPPER 6.84 +1.1% OIL 90.94 −1.6% PALLADIUM 1305.00 −0.9% KTN 1.20 −2.0% CNT 0.040 +0.0% DNG 5.42 +1.5% GFG 0.240 +2.1% NTH 0.160 −3.0% REE 0.030 −14.3% AZT 0.370 +0.0% KLDC 0.375 −1.3% SML 0.040 +0.0% SRC 1.73 −0.6% MGG 0.320 +1.6% HMR 0.560 −6.7% VCG 1.40 +0.0% KNG 1.15 +3.6% MINE 0.130 +0.0% AEF 0.160 +0.0% GOLD 4374.40 −0.2% SILVER 66.51 +0.1% COPPER 6.84 +1.1% OIL 90.94 −1.6% PALLADIUM 1305.00 −0.9% KTN 1.20 −2.0% CNT 0.040 +0.0% DNG 5.42 +1.5% GFG 0.240 +2.1% NTH 0.160 −3.0% REE 0.030 −14.3% AZT 0.370 +0.0% KLDC 0.375 −1.3% SML 0.040 +0.0% SRC 1.73 −0.6% MGG 0.320 +1.6% HMR 0.560 −6.7% VCG 1.40 +0.0% KNG 1.15 +3.6% MINE 0.130 +0.0% AEF 0.160 +0.0%
Drill Results Routine +

Playfair hires Lantech for Mount Uniacke drilling

Nova Scotia Drilling Execution Validates Financing, Dilution Risks Remain

Executive Summary
  • Playfair Mining Ltd. has signed a drilling contract with Lantech Drilling Ltd. for its Mount Uniacke project within the Golden Circle district in Nova Scotia.
  • The program consists of 2,950 metres across three drill holes targeting high-grade gold and bulk tonnage gold near historical surface workings.
  • The program is fully financed and expected to commence around June 15, 2026.
  • This marks the first core drilling at Mount Uniacke since 1995, supervised by Qualified Persons Greg Davison and Perry MacKinnon.
  • CEO Don Moore highlighted excitement regarding Nova Scotia's "new gold era" and confirmed readiness for the program.
Material Impact
  • The news represents operational execution of a previously announced plan rather than new strategic information.
  • The financing required to fund this specific drilling program ($2.48 million) was closed in March 2026, meaning capital needs are already met.
  • Hiring the contractor confirms management is adhering to the timeline established during the private placement closure.
  • There is no immediate material change to valuation or risk profile compared to the financing announcement; it is a procedural milestone.
  • The lack of drilling for 30 years introduces geological uncertainty, but the fully funded status mitigates immediate liquidity concerns.
PLY · Price
Company Overview
  • Flagship Project: Golden Circle Project in Nova Scotia, comprising eight historic properties including Mount Uniacke.
  • Strategy: Re-evaluating historic gold districts using modern exploration techniques to unlock bulk-tonnage resources.
  • Other Assets: Touquoy (completed mine), 15-Mile & Beaver Dam (positive pre-feasibility), Cochrane Hill (resource definition), Goldboro Long Section (advanced feasibility).
  • Historical Context: Nova Scotia has a history of ~1.2M oz production across 350 mines, providing geological confidence in the region.
  • Current Status: Exploration stage with no recent drilling on Mount Uniacke since 1995 prior to this program.
Read the original news release →

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