Royal International Venture RIL.V (was Labrador Int'l LAB) Message Board

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Gold/Mining/Energy : Royal International Venture RIL.V (was Labrador Int'l LAB)

LAB 1.120

-0.9%

Nov 6 3:59 PM EST

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To: Ed Pakstas who wrote (521)	4/7/1998 6:21:00 PM
From: Ed Pakstas	Read Replies (1) of 3380

Geeeze... I must be competing wid da Andretti's or sumptin...:-)... That's 2 in a row now...:-)...ed AHA! That's PLM's...here's LAB's... South Voisey's Bay JV agreements Labrador International Mining Ltd LAB Shares issued 10,561,308 Apr 6 close $0.42 Tue 7 Apr 98 News Release See Pallaum Minerals Ltd (PLM) News Release Mr Stanley Ford reports The Labrador Nickel Syndicate has executed three joint venture agreements concerning the Adlatok River 2, Adlatok River 1 and the Eastern properties. All of the properties are in the midst of and adjoining the Teck/Donner South Voisey's Bay project area. ADLATOK RIVER 2 The Adlatok River 2 property has exposed olivine gabbro over 4km. Regionally, this extensive olivine gabbro is over 25km long on which Teck will be executing a two-phase $13.5 million+ work and drill program this season. Teck has identified its drill areas to date as the North gabbro and the South gabbro. Adlatok River 2's central location with 4km of exposed olivine gabbro is designated as the Central gabbro. Adlatok River 2 has undergone a series of programs which have included extensive geophysical studies and subsequent shallow drilling. These programs have yielded the following indications of potential massive sulphide mineralization on the style of the world class Voisey's Bay Ni-Cu-Co deposit: Magnetic, EM and UTEM surveys have all identified coincident geophysical anomalies with the Central gabbro; Previous drilling encountered leopard-textured troctolite at the northern and southern reaches of the Central gabbro; Previous drilling encountered a thin layer of massive sulphides at the basal contact with the gneiss in the southern sector of the Central gabbro. Given the highly prospective indicators of its potential to host a Voisey's Bay-style deposit, the Adlatok River 2 property is highly regarded and a prime target in the South Voisey's Bay region. ADLATOK RIVER 1 Adlatok River 1 is also adjacent to Teck's current drill program. Adlatok River 1 is NNE of Major General's Sarah Lake property and Northern Abitibi's South Voisey's Bay property. Work reportedly conducted on Major General's property, specifically the down-hole EM survey on SVB-97-92, has indicated the presence of an off-hole conductor that has been interpreted by Teck's consulting geophysicist to be close to 100m in thickness within a favourable troctolite unit which is trending to the NNE. This unit is the eastern extension of the troctolite unit that occurs on Northern Abitibi and on which three separate drill holes have encountered massive sulphide mineralization. WORK PROGRAM The LNS is currently in negotiations to contract out a two phase $1 million+ work and drill program on Adlatok River 2 and 1 properties for the 1998 season. The LNS is comprised of Pallaum Minerals (25%) Globenet Resources (25%) and Labrador International Mining (50%). The LNS believes that this program will allow the companies to more fully understand the mineral potential of the properties. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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