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FOR FURTHER INFORMATION PLEASE CONTACT:
Leader Mining International Inc.
MR. JASI NIKHANJ
(403) 234-7501
(403) 234-7504 (FAX)
E-mail: gen-info@leadermining.com
Website: www.leadermining.com
or
FAB CORPORATE FUNDING INC., USA.
PAUL TABOADA
(800) 314-4727
or
FAB CORPORATE FUNDING INC., USA.
STAN KAMINSKY
(800) 314-4727
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the information contained herein.
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: LEADER MINING INTERNATIONAL INC.
ASE SYMBOL: LMN
MAY 10, 1999
New Diamondiferous Kimberlite Field Emerging at Karmel
Diamond Project, South Africa
TORONTO, ONTARIO--Recent trenching and drilling by the land owner
at The Karmel Diamond Project have produced two exciting results:
- Discovery of three new kimberlites bodies.
- Two micro diamonds recovered from a grab sample (approximately
200gm) of weathered kimberlite, obtained by trenching the sizable
Eastern Extension of the main K-1 Pipe. One micro diamond is a
cube, and the other a chip containing a garnet and a chrome
diopside inclusion. Given the small sample volume, the recovery of
these two micro diamonds is regarded extremely significant. The
main K-1 Pipe also has a history of diamond production.
Upon receipt of the approved Prospecting Permit; a bulk sample
(approximately 1000 tonnes) from the K-1 Pipe and the Eastern
Extension will be excavated and processed on-site using a 25 tonne
per hour pan plant. This will provide a preliminary estimate of
the economic potential of these bodies. Further drilling,
trenching, and bulk sampling of other known kimberlite occurrences
will proceed concurrently.
Based on the Karmel work and regional geological reconnaissance,
it appears that a new diamondiferous kimberlite field is emerging
in the Orange Free State, Republic of South Africa. Known
kimberlite occurrences along this emerging trend indicate a
potential strike length of 30 kilometers and a width of about 20
kilometers.
The Karmel Diamond Project currently covers an area of
approximately 7,500 hectares and is located on the Kaap Vaal
Craton, recognized as the most prospective diamond exploration
area in the world. Leader Mining is funding the project and on
completion will have earned 75 percent working interest in the
project by spending $1.5 million; the Project Operator, Poplar
Resources Ltd., will hold a 25 percent working interest.
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