Leader Mining International Inc - News Release
Leader glowing over Bright Lake results
Leader Mining International Inc LMN
Shares issued 19,969,689 Nov 8 2001 close $2.330
Thursday Nov 8 2001 News Release
Mr. Robert Kennedy reports
Leader Mining International has released the results of its geological reconnaissance, stream sediment and lake bottom sediment program, performed in mid-September under the direction of Dr. Eckart Buhlmann, at the company's Bright Lake project, located approximately 60 kilometres northwest of Stony Rapids in north-central Saskatchewan. Twenty-five rock samples of fractionated pegmatites, aplites and granites; 22 lake bottom sediment samples; and 40 stream sediment samples were taken within Leader's 61,000-hectare landholdings. This sampling has identified what appears to be a new tin-tantalum-cesium-rubidium metallogenic district in Canada.
Sample No. 8117 from a pegmatite exposure located south of Premier Lake returned 276 parts per million tantalum, 49 ppm tin, 110 ppm lithium, 438 ppm rubidium, and 75 ppm cesium.
The 276 ppm Ta in sample No. 8117 converts to 337 grams per tonne Ta2O5, well above the average grade of 230 grams per tonne mined at Greenbushes (Australia), the world's largest tantalum producer. The geological setting of the Bright Lake area appears to be similar to Greenbushes.
A swarm of large pegmatite bodies exposed about 20 kilometres to the southeast of Sample No. 8117, near the eastern end of Merchant Lake, was examined and grab sampled. The pegmatites locally contain abundant mica books up to 20 centimetres wide; feldspar crystals greater than 25 centimetres long; and rare brown garnet crystals up to 25 millimetres in diameter. Five rock samples yielded:
Sample Sn Ta Li Rb Cs
No. (ppm)
8106 10 43 46 291 10
8109 85 44 62 467 22
8110 695 96 528 5500 238
8122 80 120 126 578 61
8123 42 85 109 116 6
The analytical results for the lake sediment and stream sediment samples are pending. Preliminary indications are very encouraging, and these results will be released next week, upon receipt of the certified analysis.
Leader commissioned Dr. Buhlmann to return to the Merchant Lake and Premier Lake sample sites to obtain additional samples and map the pegmatite bodies. This fieldwork will be completed by Nov. 12, 2001, and the results will be forthcoming. Drilling will be planned to obtain geological samples over the entire width of the pegmatite bodies.
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