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Gold/Mining/Energy : LAYFIELD RESSOURCES (LAY-VSE)

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To: hedger who wrote (428)	10/29/1998 10:09:00 AM
From: Abbeydale	Read Replies (1) of 528

News worth watching??????? A New kimberlite discovery at Molopo Layfield Resources Inc LAY Shares issued 27,236,010 Oct 28 close $0.10 Thu 29 Oct 98 News Release Mr. D. Neil Briggs reports A new kimberlite discovery has been made on the Molopo property in Botswana. A vertical reverse circulation drill hole to test magnetic anomaly 98-97 encountered kimberlite at a depth of 48 metres beneath Kalahari sands. The hole is presently drilling at a depth of 76 metres and will continue to a depth of about 100 metres to obtain samples for microdiamond and chemical analyses. This is the second hole of a minimum six hole program. The first hole encountered a non-kimberlitic magnetic mafic rock that explains magnetic anomaly 98-110. The kimberlite encountered at magnetic anomaly 98-97 is interpreted to have a minimum size of 10 hectares based on the extent of the magnetic anomaly. Layfield's current drill program will test at least another four magnetic anomalies that are similar in magnetic character to 98-97. The kimberlite samples will be analyzed for diamonds content by Lakefield Research of Lakefield, Ontario. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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