Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE -- Ignore unavailable to you. Want to Upgrade?

To: Peter H. who wrote (343)	8/16/1999 10:43:00 AM
From: Peter H.	Read Replies (1) \| Respond to of 598

News out. Great results in Nfld. and S. Africa Mountain Lake Resources Inc. (MOA-VSE) is pleased to announce progress achieved in South Africa and Central Newfoundland. SOUTH AFRICAN PRODUCTION ------------------------ Mining of two (2) alluvial diamondiferous gravel deposits has been underway for several days after the usual delay associated with "start up" operations. The volume of gravel processed in each mining location has not been of sufficient volume to constitute a representative sample for purposes of determining the overall grade of the deposits and no diamonds have been sold so there can be no conclusions reached as to the value of the diamonds produced. MOOI RIVER (KLIPGAT 18) ----------------------- Processing began July 29, 1999 with the significant recovery on August 11, 1999 of a high quality 10 carat diamond. Other smaller stones including one - 3 carat and one - 2 carat were also found. VETPAN (NOOITGEDACHT 131 IP) ---------------------------- Again, this concession is in the early stages of production, however, approximately 20 carats from the first 3,000 tons including one - 6 carat, one - 5 carat and one- 4 carat diamond have been recovered. Early production confirms the presence of large gem quality diamonds previously indicated by bulk samples processed by the Company in 1996. VALENTINE LAKE GOLD PROPERTY, NEWFOUNDLAND ------------------------------------------ As reported July 15, 1999, the Company is currently drilling the Valentine Lake Property and has completed 10 exploration holes in the area surrounding the Leprechaun Pond deposit and a 452 metre deep hole to test the Leprechaun Pond Horizon below a depth of 200 metres. While additional assays are pending, significant preliminary assay results have been received from the deep hole. One metre of core assayed 46.7 grams/tonne gold adjacent to one metre assaying 10.7 grams/tonne for an average value of 28.7 grams/tonne over a length of two metres at a depth of 282 metres. Assays and evaluation of the 11 holes completed to date continue and results will be announced as soon as they become available. Fire assays (total digestion method) are being carried out by Eastern Analytical Limited, Springdale, Newfoundland. Drilling of the remaining seven exploration holes is expected to be completed by the end of August. On Behalf of the Board of Directors "Allen E. Sheito" President & C.E.O.