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Gold/Mining/Energy : LAYFIELD RESSOURCES (LAY-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: Fiducie who wrote (464)	2/5/1999 1:51:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 528

Thu Feb 4, 1999 Microdiamond Results From Molopo Layfield Resources Inc. reports further results of microdiamond testwork from the Phase I drilling program on its Molopo Diamond Property in Botswana. Layfield is earning a 75% interest in this property from Southern Africa Minerals Corporation who will retain a 25% participating interest, The Molopo property is located along the same structural lineament that hosts the Jwaneng Mine (the richest producing diamond mine in the world). Botswana is the worlds largest diamond producing country, by value, yielding 24 % of the world's annual diamond production. Lakefield Research carried out microdiamond analysis by their standard caustic dissolution method which recovers diamonds greater than 0.15mm (150 microns). No microdiamonds were recovered from 50kg samples taken from magnetic anomalies 98-83, 94-OIA, 94-71 and 94-03. Three of the twenty-nine kimberlites now known from the portion of Molopo in which Layfield is earning a 75% interest are diamondiferous. Results are summarized below: ---------------------------------------------------------------------- Name Magnetic Year Laboratory Size Sample Number Normalized Anomaly Drilled and Fraction Weight of Number of Method (mm) (kg) Stones Stones per 100Kg ---------------------------------------------------------------------- Antelope 98-110 1998 Lakefield +0.150 50 2 4 Caustic Dissolution Bushbuck 94-73 1995 Easan +0.075 5O 11 22 Acid Dissolution Cheetah 94-06 1995 Easan +0.075 50 8 15 Acid Dissolution ---------------------------------------------------------------------- These results are very encouraging as they demonstrate that diamonds are present In the lithosphere beneath the Molopo kimberlite field, that some of the kimberlite pipes passed through the diamondiferous area and that some of the diamonds have survived the long trip to the surface. It is common exploration practice in southern Africa to follow up kimberlites with more than 1 microdiamond per 100kg. Generally less than 10% of the kimberlites in a diamondiferous field have enough diamonds to deserve further study. Leyfield's current plan is to further test some or all of these diamondiferous kimberlites by core drilling to decide the best candidates for mini-bulk sampling. ON BEHALF OF THE BOARD D. Neil Biggs President and Director No Stock Exchange Has Approved or Disapproved The information Contained Herein. You can return to the main News Releases page, or press the Back button on your browser.