!!!!NEWS RELEASE!!!!
From: newsout@canada-stockwatch.com
Date: Fri, 17 Oct 1997 16:11:39 -0700
Subject: Stockwatch: Leader Mining
Leader Mining International Inc - News Release
Gravity survey results of Knife Lake Belt
Leader Mining International Inc LMN
Shares issued 13,528,485 Oct 16 close $3.65
Thu 16 Oct 97 News Release
Mr Jasi Nikhanj reports,
Leader Mining International Inc is pleased to offer a gravity map of the
Knife Lake belt,produced by Dr Allan spector of Allan Spector & Associates
Limited, Toronto, Canada, under contract to Leader Mining.
Dr Spector states:
"The survey area covered an area 50km x 50km. The primary objective
was to aid in the understanding of the geology of the project area for
purposes of massive sulphide exploration. The selection of the gravity
method is based on consideration of an observed relationship between
VMS deposits in the Abibiti Belt and positive gravity anomalies as
reported by professors Assad and Favin (1980).
Anomaly M1 is a northeast trending 0.5 mGal anomaly that attracts a
lot of interest. The Knife Lake massive sulphide mineralization is on
the east flank of this anomaly. This appears to be an example of a
classic association between VMS deposits and high density mafic
volcanic rocks. Based on surface geology and drilling the gravity
anomaly is indeed associated with mafic volcanics/amphibolite. This
observed relationship prompts interest on exploration activity around
the flanks of other secondary positive gravity anomalies. Magnetic
anomalies distributed on the northern and southern margins of M1
attract immediate attention."
Drilling of a 0.5 mGal Bouguer gravity anomaly over a favourable geological
terrain in Portugal (Delfim de Carvalho, 1991, Economic Geology Monograph
8, pp 314-334), led to the discovery of the Neves-Corvo massive sulphide
deposit at a depth of 350m. The deposit contains over 31 million metric
tons at 8% Cu.
Sixty potential VMS sites (see news in Stockwatch October 9 1997) have been
identified within Leader's land position. The magnetic zones are
specifically associated with the outer contacts of these gravity zones and
thus are considered to be prospects for VMS mineralization.
Should you wish to receive the map, please contact W.S. Adamson &
Associates or visit our website at www.leadermining.com.
For further information please contact Mr Jasi Nikhanj at:
Telephone: (403) 234-7501
Fax: (403) 234-7504
E-mail: gen-info@leadermining.com
Website: www.leadermining.com
Or Kelly Kenyon, W.S. Adamson and Associates, at:
Telephone: (801) 532-5322
Fax: (801) 532-5324
Toll free: 1-888-330-5322
E-mail: investing@leadermining.com |
