Canabrava Diamond Corporation & Navigator Exploration Corp.: Kat Project; Kimberlite At-56 Diamondiferous.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--April 9, 2001 Canabrava (CDNX CDNX See Canadian Venture Exchange (CDNX). :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) .) NavigatorExplor (CDNX:NVR NVR Never NVR Network Video Recorder NVR Novgorod (Russia) NVR Naval Vessel Register (US Navy) NVR Nene Valley Railway (UK) NVR Non Volatile Residue NVR Non-Volatile RAM .) Canabrava Diamond Corporation (CNB-CDNX) and Navigator Exploration Corp. (NVR-CDNX) are pleased to announce that initial testing has shown that the AT-56 kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. is diamondiferous. Kimberlite AT-56 was discovered in early February (see News Release February 8, 2001). This new discovery is located within four kilometres of four kimberlite pipes identified by De Beers Canada Exploration Inc., including the diamondiferous Victor Pipe, which is undergoing advanced assessment. Kimberlite core from the first two drill holes was split, with one half sent to Lakefield Research Limited for diamond recovery by caustic dissolution. Results of this analysis show the kimberlite to be diamondiferous with a total of seven microdiamonds recovered from 260.77 kilograms of core. Representative core samples were submitted to Mineral Services Canada Inc. for mineral abundance and compositional evaluation. Reported mineral abundance data indicate that the kimberlite has sampled and preserved large quantities of mantle material. A significant proportion of the garnets Garnets may have the following meanings
The partners are highly encouraged by the results of the mineral chemistry analyses. Mineral chemistry from AT-56 is consistent with, and compares favourably to, published data from the Victor Pipe. Seven additional holes have now been completed on AT-56, with intercepts ranging from 25 to 120 metres. The kimberlite appears to have a pipe-like shape, although geometry of the body is somewhat complicated by a southerly dip of about 70 degrees. Drilling and ground geophysics suggest the pipe's surface expression is approximately 45 metres diameter. An estimated 2.5 tonnes of HQ core (approximately 63 millimetre diameter) has been recovered from AT-56 to date and will be used for additional testing. Winter 2001 drilling on the Kat Project has now concluded. A total of 10 targets were tested with 2,111 metres of drilling. One kimberlite, AT-56, was discovered as a result of this work and one of the 10 targets remains unexplained. The drilling program was designed to test a variety of geophysical responses in order to assist in the ongoing interpretation of more than 47,000 line kilometres of airborne magnetic data, collected in 2000 and 2001. Many targets remain to be evaluated, and planning for a spring/summer program is now underway. The Kat Project forms part of the Severn Joint Venture, an agreement between Canabrava and Navigator to explore more than 400,000 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . Navigator has met its $1.75 million exploration expenditure commitment and has earned a 50% interest in the Kat Project. Expenditures beyond $1.75 million are shared by the joint venture partners on a pro-rata basis. Canabrava Diamond Corporation is actively exploring for diamonds in Brazil and Canada both independently and through major joint ventures with Kennecott Canada Exploration Inc., Navigator Exploration Corp., SouthernEra Resources Limited and Paramount Ventures and Finance Inc. Canabrava is 45.6% owned by Southwestern Gold Corporation (SWG-T). Navigator Exploration Corp. is actively exploring for diamonds, gold and base metals in Northern Canada Northern Canada is the vast northernmost region of Canada variously defined by geography and politics. Definitions and usage Also referred to as the Canadian North or (locally) as the North , both independently and through separate joint ventures with De Beers Canada Exploration Inc., Canabrava Diamond Corporation, Tyler Resources Inc. and Falconbridge Limited. In addition, Navigator is also participating in base and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration in Ireland through its approximately 41% shareholding in Strongbow Resources Inc. (SR-CDNX). The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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