SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Peter H. who wrote (343)8/16/1999 10:43:00 AM
From: Peter H.  Read Replies (1) of 598
 
News out. Great results in Nfld. and S. Africa

Mountain Lake Resources Inc. (MOA-VSE) is pleased to announce
progress achieved in South Africa and Central Newfoundland.

SOUTH AFRICAN PRODUCTION
------------------------
Mining of two (2) alluvial diamondiferous gravel deposits has
been underway for several days after the usual delay associated
with "start up" operations. The volume of gravel processed in
each mining location has not been of sufficient volume to
constitute a representative sample for purposes of determining
the overall grade of the deposits and no diamonds have been sold
so there can be no conclusions reached as to the value of the
diamonds produced.

MOOI RIVER (KLIPGAT 18)
-----------------------
Processing began July 29, 1999 with the significant recovery on
August 11, 1999 of a high quality 10 carat diamond. Other smaller
stones including one - 3 carat and one - 2 carat were also found.

VETPAN (NOOITGEDACHT 131 IP)
----------------------------
Again, this concession is in the early stages of production,
however, approximately 20 carats from the first 3,000 tons
including one - 6 carat, one - 5 carat and one- 4 carat diamond
have been recovered.
Early production confirms the presence of large gem quality
diamonds previously indicated by bulk samples processed by the
Company in 1996.

VALENTINE LAKE GOLD PROPERTY, NEWFOUNDLAND
------------------------------------------
As reported July 15, 1999, the Company is currently drilling the
Valentine Lake Property and has completed 10 exploration holes in
the area surrounding the Leprechaun Pond deposit and a 452 metre
deep hole to test the Leprechaun Pond Horizon below a depth of
200 metres.
While additional assays are pending, significant preliminary
assay results have been received from the deep hole. One metre of
core assayed 46.7 grams/tonne gold adjacent to one metre assaying
10.7 grams/tonne for an average value of 28.7 grams/tonne over a
length of two metres at a depth of 282 metres.
Assays and evaluation of the 11 holes completed to date continue
and results will be announced as soon as they become available.
Fire assays (total digestion method) are being carried out by
Eastern Analytical Limited, Springdale, Newfoundland. Drilling of
the remaining seven exploration holes is expected to be completed
by the end of August.
On Behalf of the Board of Directors

"Allen E. Sheito"
President & C.E.O.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News