Canabrava Diamond Corporation: Drilling Commenced, Hadley Bay Project, Victoria Island.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 1, 2002 Canabrava Diamond Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) ) announced today that drilling has commenced on high priority geophysical targets in the Hadley Bay Project on Victoria Island, Nunavut. This drill program will include ten or more holes, which will investigate a number of previously untested, potential kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. , magnetic anomalies. Program operator, Diamonds North Resources Ltd., has commenced drilling on a cluster of geophysical targets in close proximity to the recently established drill camp. The targets, which were originally selected from an airborne geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. , have been confirmed with detailed ground geophysical surveys. To date, all 16 kimberlites discovered on Victoria Island have been targeted using geophysics. The kimberlites occur as distinct geophysical anomalies in the carbonate country rocks. The five known kimberlites (Jaeger jaeger (yā`gər), common name for several members of the family Stercorariidae, member of a family of hawklike sea birds closely related to the gull and the tern. The skua is also a member of this family. , Pintail pintail Any of four species (genus Anas, family Anatidae) of sleek, long-tailed, long-necked dabbling ducks that are swift fliers and popular game birds. The common, or northern, pintail (A. , Turnstone, Sanderling and King Eider) that occur within the Hadley Bay Project all contain diamonds. These kimberlites have been inadequately investigated and additional drilling and sampling will be carried out on these five kimberlites once the current drill program, which focuses on new targets, has been completed. Canabrava is actively exploring for diamonds in Canada and Brazil, both independently and through major joint ventures with Kennecott Canada Exploration Inc., Navigator Exploration Corp., Majescor Resources Inc., and Paramount Ventures and Finance Inc. Canabrava is 39.1 per cent owned by Southwestern Resources Corp. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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