Hi Jiong, here's the press release that you were looking for.
Platinova A/S PAS
Shares issued 21,428,744 Sep 19 close $1.63
Mon 22 Sept 97 News Release
See Lexam Explorations Inc (LEX) News Release Mr David Sannes reports
Diamonds have been discovered on the company's joint venture property in Greenland. Two white, translucent microdiamonds were recovered by a caustic dissolution analysis performed by Lakefield Research. The diamonds were contained in a 42.6 kilogram sample taken from a kimberlite dyke, location MK01. The dyke is of particular interest because:
1. This discovery is believed to be the first in-place identification of diamonds in Greenland;
2. The dyke has been traced over a distance of 2.5 kilometres;
3. The dyke has coarse grained texture and contains abundant indicator minerals, such as G-10 garnets, picro-ilmenites, chrome diopsides and mantle xenoliths or nodules. The largest chrome diopside observed on site measured approximately 12 centimetres in diameter; and
4. The discovery site is 15km north of the joint venture partner's,
Platinova A/S, June 1997 discovery of a macrodiamond in a kimberlite
boulder and 40km east of its August 1996 discovery of a microdiamond
in a kimberlite boulder.
All three of Lexam and Platinova's discovery sites occur within a 20km wide geological corridor that extends eastwards from the coast across the company's property onto the adjoining properties of Platinova A/S, Aber Resources and Fjordland. As a result of the company's recent discovery, it is participating with its partner and associates in a large, 10,000 line kilometre helicopter geophysical survey of the entire corridor or belt. Lexam is in the process of earning a 50% interest from Platinova A/S in two mineral concession blocks, one of which contains the company's diamond discovery. The concessions are on the west coast of Greenland, north of its capital, Nuuk. The concessions cover an area of 3,390 sq km or about 837,000 acres.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
I'm not that fluent with technical analysis but I have noticed that the volume of shs traded in FML and PAS have increased within the last 2 to 3 days. Is news on the way? |
