Leader Mining International Inc.
2/19/99 -
Lac Rocher Acquisition & Avalon Update
NDT VENTURES LTD. ("NDE-V;NDTVF-L") FREEWEST RESOURCES CANADA LTD
("FWR-TM;FWERF-L") LEADER MINING INTERNATIONAL INC ("LMN-Y") - Lac Rocher
Acquisition & Avalon Update
Fred G. Hewett, President of NDT Ventures Ltd. (the "Company" or "NDT"), announces that the
Company has signed a letter of intent with Freewest Resources Canada Ltd. of Montreal,
Quebec to acquire a 50% interest in claims recently staked by Freewest in the Lac Rocher area of
northern quebec.
The property consists of 27 mineral claims located approximately 10km southwest of the Nuinsco Resources Limited nickel-copper discovery,
where Nuinsco recently reported a significant drill hole intersection of 3.68% Ni, 0.93% Cu and 0.10% Co over 19 metres. Mineralization on the
Nuinsco property consists of disseminated and massive sections of pyrrhotite, pentlandite and chalcopyrite in a gabbroic body intruding
gneisses.
Regional government mapping indicates that the NDT/Freewest property is underlain by mafic amphibolites, granites and gneisses. A sulfide
occurrence has been mapped within a few hundred metres of the properties northern boundary. Government flown Input geophysical surveys
show a series of 3 and 5 channel electromagnetic anomalies immediately north of and around the property boundaries. A detailed analysis of
this survey data will be carried out shortly. An exploration program of prospecting and geophysics is planned for 1999.
Under the terms of the agreement, NDT can earn an undivided 50% interest in the property by paying $13,500 in cash and issuing the
equivalent of $200 per claim ($5,400) in shares based on the closing price of NDT shares on the date of signing the option agreement. In
addition, NDT will incur at its option exploration expenditures of $81,000 to earn its interest. NDT will be the operator.
The Company reports it has received the final geochemical and geophysical results from the December 1998 exploration program carried out on
its Avalon project near Goobies in eastern Newfoundland. The 15 claim property contains a new gold discovery consisting of disseminated
sulfides in a breccia zone within a gabbroic intrusion. The breccia consists of exotic blocks of sedimentary and felsic volcanics totally enclosed
within gabbroic rocks. Chip-=channel sampling by the Company across the main breccia zone returned an average grade of 4.98 g/t gold and
14.8 g/t silver over 15.9 metres.
The December exploration program consisted of prospecting, soil sampling, trenching and geophysics. Prospecting located one new
mineralized breccia zone with low gold and silver values. No significant alternation patterns or structures were observed. The soil geochemical
survey located only a few isolated and weak arsenic and antimony anomalies; all gold and silver values were at background levels.
Rock sampling in trenches returned anomalous gold (250 ppb) and silver (11 ppm) values from other breccia zones outside of the main gold
showing. Several lines of induced polarization (IP) geophysics detected the mineralized breccia zones. A detailed ground geophysical survey
located a northwesterly trending, prominent magnetic low anomaly and a weak, but coincident VLF-EM conductor approximately 150 metres
east of, and subparallel to the gold bearing breccia zone. This feature may be related to the breccias and requires further prospecting and
geophysics. A follow-up IP and VLF survey over this magnetic low has been proposed.
The Company also announces that the option agreement with Leader Mining International Inc. on claims held by NDT in the Voisey's Bay area
of Labrador has been terminated. TEL: (604) 687-7545
James D. Romano, Mgr., Investor Relations FAX: (604) 689-5041
1-888-338-2200
Toll Free INET: www.northair.com/ndt/ ** Note new Internet Address
Leader Mining International Inc.
2/12/99 -
Commencement Of 1999 Drill Program At Knife Lake,
LEADER MINING INTERNATIONAL INC ("LMN-Y") - Commencement Of 1999 Drill Program
At Knife Lake, - Saskatchewan, Canada
Leader Mining is pleased to announce that its 1999-drill-program is commencing at the Knife
Lake Project by the end of February 1999. The initial phase of drilling will explore the following
targets:
1. DIAMOND TARGETS
Leader's airborne magnetic survey has defined discreet circular magnetic features which indicate
potential kimberlite pipes. Three of these targets are to be drill tested for their diamond potential.
2. SILVER/GOLD TARGETS
Widespread silver and gold values among drill holes and surface soil samples have been discovered about 1 km south of the Knife Lake Copper
Deposit.
Silver values of 49 g/t @ 70 m including 310 g/t @ 3 m have been intersected along a 5 km long east-west trending fault structure.
In addition, high silver values in the form of native silver are recorded among drill cuttings collected by revisiting 64 drill sites, which had
intersected favourable fault structures. The following silver values were obtained:
* 1 drill hole (K96-15) with values of 350 g/t Ag.
* 5 drill holes with values >100 g/t Ag;
* 14 drill holes with values > 50 g/t Ag;
* 44 drill holes with values > 20 g/t Ag;
These fault structures are superimposed upon the Knife Lake Copper Deposit and extend beyond the Knife Lake Deposit.
Gold values of up to 4.3 g/t in soil samples and 4.9 g/t @ 1 m in drill holes have been discovered.
A total of 1,580 soil samples were collected and analyzed. Twenty three (23) of these samples had gold values > 100 ppb, and eighty two (82)
samples had gold values > 10 ppb. Surface grab samples collected from the volcanic rocks which underlay the gold soil geochemical anomaly,
show elevated gold values of up to 25 ppb Au.
The geochemical sampling shows that the gold zone is offset from the silver zone and covers an area of approximately 350 m x 700 m. The
anomaly is still open to the south where gold values in soil, up to 190 ppb Au, have been encountered.
The on-going Induced Polarization (IP) Survey has outlined well defined anomalies corresponding to the gold and silver targets. The drilling is
designed to expand on these discoveries and to define economic deposit (s). 3. COPPER/NICKEL TARGETS
A new copper and nickel mineralized zone has recently been discovered along the east arm of the Scimitar Lake, approximately 3 km east of the
Knife Lake Deposit.
Copper values of 0.8 to 0.9% Cu among disseminated chalcopyrite among intermediate volcanics and nickel values of up to 0.14% Ni were
discovered over a 500 m strike length.
Drilling is designed to expand sub-surface extension to the surface showings.
The Company is fully funded to undertake and compete the above noted exploration programs.
The results of the on-going exploration program will be released as they become available. TEL: (403) 234-7501
Jasi Nikhanj FAX: (403) 234-7504 E-mail: gen-info@leadermining.com Website: www.leadermining.com TEL: (403) 531-1387
Yvonne Sheldrake TOLL FREE: (888) 608-1387 FAX: (403) 269-8881
Leader Mining International Inc.
2/10/99 -
New Diamond Fissure Discovered At Karmel Diamond Project
LEADER MINING INTERNATIONAL INC ("LMN-Y") - New Diamond Fissure Discovered At
Karmel Diamond Project
Leader Mining International Inc. reports that a new diamond bearing fissure has been
discovered on the Company's Karmel Project in South Africa (Press Release, dated January 20,
1999), designated as the Dundee Fissure. A 40 kg sample was taken from a small outcrop, and
caustic dissolution by Lakefield Research Limited yielded one macro diamond and five micro
diamonds having a total weight of 0.848 mg.
In addition to the Dundee Fissure discovery, the Karmel Project hosts a past diamond producing kimberlite pipe as well as a diamondiferous
fissure designated as the Southern Fissure (Figure 1). This kimberlite pipe was discovered following a 10 carat diamond discovery by a
shepherd in the 1950's.
Since the kimberlite bodies on the Karmel Project are magnetic; a heli-borne high sensitivity magnetic survey is planned to cover the entire 7,500
ha in order to fully assess the diamond potential of the Project. Geodass of Johannesburg have been awarded this contract, which is scheduled
to be completed by the end of this month. Trenching and diamond drilling will follow immediately.
The Project lies along a prolific diamondiferous kimberlite trend that hosts the world famous Jwaneng, Orapa, and Kimberly diamond mines, as
well as many smaller prolific diamond producers. (Figure 2)
The Karmel Diamond Project has a well established infrastructure, year round road access, and relatively easy terrain, which provides a low cost
and low risk diamond exploration environment compared to relatively more expensive Canadian grass roots projects currently underway in
remote areas of Alberta and Northwest Territories.
Leader is earning a 75% interest in Poplar Resources' Karmel Project by spending C$1.5 million for exploration over a three year period.
The Company's Knife Lake Project in Saskatchewan is also underway and details will follow in the next news release. TEL: (403) 234-7501
Mr. Jasi Nikhanj FAX: (403) 234-7504 E-mail: gen-info@leadermining.com Website: www.leadermining.com TEL: (403) 531-1387
Yvonne Sheldrake TOLL FREE: (888) 608-1387 FAX: (403) 269-8881 |
