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Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE

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To: Peter Bourgeois who wrote (259)	11/11/1998 3:07:00 PM
From: peter dumbrille	Read Replies (1) of 598

And to anybody else keeping the faith! Mountain Lake Resources Inc MOA VSE Add to Portfolio November 9, 1998 New Style Of Gold Mineralization Discovered At Valentine Lake MOUNTAIN LAKE RESOURCES INC ("MOA-V;MLKRF-L") - New Style Of Gold Mineralization Discovered At Valentine Lake Mountain Lake Resources Inc. is pleased to announce that diamond drilling at Valentine Lake in 1998 resulted in the discovery of a new style of disseminated gold mineralization that had not previously been seen on the property. Drill hole VL.98-07, the last drill hole in the program, cut two near-surface zones of gold mineralization, 11.5 metres and 3 metres thick, in the intervals from 22.5 to 34 metres and 45 to 48 metres, respectively. The mineralization consists of quartz-iron carbonate altered gabbro containing disseminated pyrite. These zones are located 100 metres structurally above the main Leprechaun Pond gold zone (4.6 g/t gold over 23.1 metres and 9.1 g/t gold over 9.6 metres). Only three representative samples from the new zones were assayed as they were not expected to contain anomalous gold values. Two samples from the first zone assayed 2.04 g/t gold over 2 metres; a single sample from the second zone assayed 3.08 g/t gold over 1.6 metres. This mineralization is interpreted as being part of the main gold mineralizing event at Valentine Lake. The different style of mineralization is the result of reaction of the mineralizing fluids with a gabbroic host rock, as opposed to reaction with the granitic host rock which contains the quartz-tourmaline vein stockwork type of gold mineralization previously explored. These new intersections are significant because they represent a disseminated style of gold mineralization that has scope for large tonnage open-pittable reserves. The gabbroic host rock extends along surface to the northeast for at least 600 metres and has not previously been explored. Other gabbroic phases of the host intrusion have also not been explored. The remainder of the mineralized intersections in drill hole VL.98-07 will be assayed when crews return to the property in 1999, when the zone will be further tested along strike and down-dip. This disseminated mineralization is expected to form a mineralized zone with more evenly distributed gold values than the quartz vein stockworks and should therefore be easier to explore and delineate. TEL: (902) 542-9773 Allen E. Sheito, President & C.E.O. FAX: (902) 542-4442 Internet: www.mountain-lake.com ______________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. This Report Updated by Canstock at 12:18:01 Pacific Time -------------------------------------------------------------------------------- \| Search \| \| Market Review \| \| Charts \| \| Quotes \| \| News \| \| News Archive \| \| Portfolio \| \| Interest Rates \| \| Download Data \| \| Insider Reports \| \| Pay per View \| \| Mutual Funds \| \| Main Stock Market Page\| \| Contact Us \| \| Help \| -------------------------------------------------------------------------------- © 1995-98 Canadian Stock Market Reporter

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