Canabrava Diamond Corporation and Navigator Exploration Corp.: Drilling On The Kat Project.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 5, 2002 Canabrava Diamond Corporation (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) ) and Navigator Exploration Corp. (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 ) are pleased to announce that they will drill test a kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. target on the Kat Project, in the Attawapiskat area of northern Ontario. A drill is currently being assembled on site, and drilling will commence within the next few days. The Kat Project is a 50:50 joint venture between Navigator and Canabrava, and forms part of the Severn Joint Venture, an agreement to explore more than 400,000 square kilometers of the Superior Province in northern Ontario. The first drill program on the Kat Project was undertaken in early 2001, and resulted in the discovery of kimberlite AT-56. The current target is located approximately four kilometres southwest of AT-56 and within the diamondiferous Attawapiskat kimberlite cluster. De Beers Canada Exploration Inc. is currently involved in a pre-feasibility study on the Victor kimberlite, which is the largest pipe in the cluster. 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., Majescor Resources Inc. and Paramount Ventures and Finance Inc. Canabrava is 38.9% owned by Southwestern Resources Corp. Navigator Exploration Corp. is actively exploring for diamonds, tantalum tantalum (tăn`tələm) [from Tantalus], metallic chemical element; symbol Ta; at. no. 73; at. wt. 180.9479; m.p. 2,996°C;; b.p. 5,400±100°C;; sp. gr. 16.65 at 20°C;; valence +2, +3, +4, or +5. , gold and base metals in northern Canada, both independently and through separate joint ventures with De Beers Canada Exploration Inc., Canabrava Diamond Corporation, Tyler Resources Inc., Chapleau Resources Inc., Falconbridge Limited, Highwood Resources Ltd., Greatland Exploration Ltd. and Wheaton River Minerals 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 45% shareholding in Strongbow Resources Inc. 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 news release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion