Big Red Diamond Corporation/Valentine Property: Discovery of Kims and Metallic Grains.MONTREAL -- Big Red Diamond Corporation.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DIA) is pleased to announce important exploration results on its 100%-owned Valentine Property located in the Valentine township in Ontario's North-east (please refer to OGS OGS Office of General Services (New York State) OGS Office of Graduate Studies OGS Ontario Genealogical Society OGS Ontario Graduate Scholarship OGS Ohio Genealogical Society G-plan # 3582). The property is composed of four (4) claim blocks covering a total area of 364 hectares. Geology on the property is dominated Paleozoic sedimentary rocks (Geol.) See See also: Sedimentary of the James Bay Lowlands covered by Quaternary quaternary /qua·ter·nary/ (kwah´ter-nar?e) 1. fourth in order. 2. containing four elements or groups. qua·ter·nar·y adj. 1. Consisting of four; in fours. sediments.The property is also at the confluence of important structural features such as the North-eastern extension of the Kapuskasing Structural Zone (KSZ KSZ Kotlas (Russia) ) and of Abitibi- and Matachewan/Nippissing- aged diabase diabase: see basalt. diabase or dolerite Fine- to medium-grained, dark gray to black intrusive igneous rock. Diabase is one of the dark rocks known commercially as “black granite. dykes. This property was initially staked by the Company in 2001 to cover a prominent magnetic feature believed to be the source of a copper anomaly identified by an Ontario Geological Survey (OGS) stream-sediment survey released that year (OGS-OFR 6070, "Operation Treasure Hunt; James Bay Lowland Indicator Minerals Survey"). The property also covers numerous smaller magnetic features that are interpreted by the Company to be possible kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipes, based on a high resolution, low altitude airborne magnetic survey flown by the company in 2004. Reconnaissance till sampling results In February 2005, two (2) till samples were taken on the Valentine Property using a portable hand and power auger rig. These samples have yielded promising kimberlite indicator minerals, including eclogitic garnets and high pressure clinopyroxenes. The promising mineral grains were confirmed through laboratory test performed by CF Minerals in Kelowna B.C. Further to the promising kimberlite minerals, elevated quantities of copper related minerals (Bornite bornite Common copper-ore mineral, copper and iron sulfide (Cu5FeS4). Typical occurrences are found in Mount Lyell, Tasmania; Chile; Peru; and Butte, Mont. Bornite may form isometric crystals but occurs most commonly as irregular masses. and Chalcopyrite) were found in the same samples. A third larger and deeper sample has since been taken from the property and additional visually-promising kimberlite mineral grains have been picked and sent to a second analytical lab for verification. Furthermore, elevated quantities of copper minerals have also been identified in this third sample. Current work Currently, a fourth and much larger sample is being retrieved from the Valentine Property. It is believed that the bigger sample will yield greater amounts of the copper minerals, Bornite and Chalcopyrite. This will allow the Company to obtain a detailed analysis of the minerals and to further evaluate the significance of the highly anomalous copper mineral occurrence. The copper mineral grains have so far been isolated through visual identification only and the Company will wait for heavy mineral separation of the fourth sample before sending all of these grains to a laboratory that specializes in metallic ore analysis. It is expected that the larger sample will also yield greater numbers of the kimberlite indicators in order to shed further light on the diamond potential of the Valentine Property. Semi-annual release of escrowed shares Escrowed Shares Shares held in an escrow account and in most cases cannot be traded or transfered until certain circumstances like time horizon have been reached. The use of escrow for holding shares is often done during acquisitions and for performance-based executive incentives. According to release conditions provided by the Escrow Agreement Escrow Agreement A certificate provided by an approved bank that guarantees the indicated securities are deposited at that particular bank. Notes: For example, an investor who writes a call option and can present an escrow agreement is considered covered. entered into on December 23, 2003, a third block of shares was released on March 8, 2005.The table below provides distribution:
Shareholder Shares
released
AntOro Resources Inc. 1,099,802
Brian K. Polk 313,500
Kevin S. Cool 150,000
Francois C. Desrosiers 112,500
Anna Marie Muller 105,000
Rosanne Van Schie 22,500
Rheal Cool 18,000
Karin Cool 18,000
TOTAL 1,099,802
The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for adequacy or accuracy of this release. Big Red Diamond Corporation (TSX VENTURE:DIA) |
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