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Microcap & Penny Stocks : LCD- Leicester Diamond
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To: Curly1 who wrote ()9/1/1999 7:31:00 AM
From: jerry janko   of 14
 
Leicester receives permit for Shetland Islands project

Leicester Diamond Mines Ltd LCD
Shares issued 20,727,805 Aug 31 close $0.29
Wed 1 Sept 99 News Release
Mr. Ken Carter reports
The company's applications for exploration programs on the Loch and Hagdale
platinum-palladium properties have been approved by the Shetland Island
Council. Preliminary field work will begin immediately and an initial
50-metre drill program on the Cliff occurrence will commence in
mid-September.
The Loch and Hagdale properties are on the northernmost island of Unst in
the Shetland Islands and were acquired by the company in early July. On the
properties, platinum, palladium and other platinum group elements occur in
association with multiple chromite lenses. These lenses were mined for
chromite intermittently from 1820 to 1944 and, while dump material from all
the quarries sampled to date are anomalous in PGE, material from the Cliff
quarries consistently returned high-grade platinum plus palladium assays in
the range of 60 to 260 grams per tonne. The drill program at Cliff is
designed to determine the relationship of these high PGE values to the
chromite lenses and their potential significance. A concurrent program of
property-wide geological mapping, sampling and geophysics will be carried
out to locate other drill targets.
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