The Company received on 16 February 1999 a draft of "Report on Testing of Mali Kimberlites" from its JV partner who just completed the tests. The following is a summary of the results on the nine (9) kimberlite pipes that were discovered by Mink International and its JV partner. Test results conducted on the Cirque Pipe that was drilled in 1998 is also shown. By order of their respective discoveries:
Kimberlite
Pipe
Drill Hole
Number
Depth
Tested (m)
Sample
Weight (kg)
Pyrope
Garnets
Picro
Ilmenite
Chromite
Delys Test Pit
2.0 to 10.3 62.00
11
-
211
Delys Test Pit
-
1.15
-
-
33
Delys Test Pit
-
143.00
36
-
5
Kereko Test Pit
1.3 to 9.0 127.00
102
115
-
Tenin-Camara** Test Pit
1.3 to 12.3 126.80
7,100
62,000
11
** Including
8,000
Zircon Grains
Kassama KS DDH 01 150 to 282
325.00
4
92
3
Kassama KS DDH 02 250 to 273
85.00
12
Abundant
-
Fili Yoro DDH 07
87.0 to 100.0 86.20
-
-
5
Samba Test Pit
9.9 to 12.0 86.00
178
113
5
Yaya Test Pit
4.6 to 7.0 91.00
-
11
-
Sounkourou DDH 11
39.0 to 68.0 87.40
-
-
-
Foulame (Dyke) DDH 13
49.0 to 61.0 84.00
-
-
-
Cirque DDH 16
42.0 to 123.0 142.40
23
Abundant
4
No micro diamonds were found in any of the samples. However, twenty-two (22) pyrope garnets from the Cirque Pipe and four (4) from Kassama drill hole # 1 – analyzed for major elements using an electron microprobe showed that the types of garnets from both pipes are recognized as being associated with diamonds. The draft report received by the Company indicated that, aside from those conducted on these two samples, no microprobe analysis was conducted on indicator minerals from the other pipes discovered and/or their corresponding samples.
In view of the analyses conducted so far and the mixed results, the Company is currently evaluating its position with respect to the Kenieba Diamond Project. Meanwhile, Company directors and associates are continuously negotiating with a number of potential investors to raise funds to bring the Niaouleni Gold Project into production.
Mink International regrets to announce the resignation of Deane H. Williams, one of its directors. Deane, who has been with the Company from the very start, expressed that his other business commitments are now demanding more of his time, particularly constant travels abroad and within continental North America.
ON BEHALF OF THE COMPANY
O.L. de la Cuesta
President
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