EXPLORATION UPDATE CANABRAVA PROJECT - BRAZIL.VANCOUVER, BC--(BUSINESS WIRE)--FEBRUARY 21, 1995--CANABRAVA DIAMOND CORP(VSE See DOS/VSE. VSE - Virtual Storage Extended : 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) ) CANABRAVA DIAMOND CORPORATION is pleased to announce that the $U.S. 2 million exploration phase initiated in early 1994 is nearing completion. This phase of exploration involved airborne magnetics, stream sediment sampling, heavy mineral analysis, platinum/palladium geochemistry, ground follow-up of magnetic targets and ground follow-up of source areas for drainage systems containing diamonds over the Company's 1.8 million acres of exploration concessions. A total of 18,000 line kilometres of airborne magnetics were flown and over 1,000 magnetic targets were delineated of which 611 are considered as priority targets. Preliminary ground follow-up on about 100 of these targets indicate that they are associated with kimberlitic/lamproite vent complexes. Soils collected over these vents contain typical kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. indicator minerals including pyrope py·rope n. A deep red garnet, Mg3Al2Si3O12, used as a gem. [Middle English pirope, from Old French, from Latin garnet, chromite chromite (krō`mīt), dark brown to black mineral. It is an iron-chromium oxide, FeCr2O4, with traces of magnesium and aluminum. , chrome diopside diopside Common silicate mineral in the pyroxene family. Diopside is a calcium and magnesium silicate (CaMgSi2O6) that occurs in metamorphosed siliceous limestones and dolomites, in skarns, and in igneous rocks. , eclogite eclogite Any member of metamorphic rocks whose original composition is similar to that of basalt. Eclogites consist primarily of green pyroxene (omphacite) and red garnet (pyrope), with small amounts of various other minerals such as kyanite and rutile. garnet and ilmenite ilmenite (ĭl`mĕnīt), black mineral, iron titanium oxide, FeTiO3, crystallizing in the hexagonal system. It is sometimes found as tabular hexagonal crystals but occurs more commonly as small grains in igneous and metamorphic . Seven of these magnetic targets are the source area of streams in which the Company has recovered gem quality macrodiamonds from the preliminary treatment of samples. At Corrego de Pedros on the Company's Lagamar property, over 30 macrodiamonds of which 60% are gem quality have been recovered by local miners in the last few months. Ground follow-up of this drainage indicates the source for the diamonds is a widespread kimberlite crater facies facies /fa·ci·es/ (fa´she-ez) pl. fa´cies [L.] 1. the face. 2. surface; the outer aspect of a body part or organ. 3. expression (1). tuff containing pyrope garnet, eclogite garnet, chromite and ilmenite. This source unit will be bulk sampled to determine its potential to host economic concentrations of diamonds. In the southwest portion of the Patos property, macrodiamonds recovered in the stream sediment survey indicate a source related to a cluster of pipes. In 1965, a 114 carat diamond was recovered by local miners in a creek draining this same cluster of pipes and the Company has targeted this location for bulk sampling. On the Company's Quintinos property, one area along the Sao Bento A data structure used to store embedded documents in an OpenDoc compound document. Bento, which stands for lunch box in Japanese, provides a "container" to hold the data and a format for defining its contents. River is historically famous for large diamonds including stones of 324 carats and 165 carats. Preliminary analysis of stream sediment samples collected in this area show a large population of chrome diopsides indicating proximity to source. Detailed follow-up of magnetic anomalies at this site will begin immediately. On the Tiros property, the Company has located a small excavation worked by local miners within a weathered kimberlite pipe. Production from these workings in 1993 included 35 macrodiamonds of gem quality. Stones of up to 29 carats were recovered including very valuable fancy pinks. This pipe is coincident with a magnetic anomaly and is to be bulk sampled. Of the 330 stream sediment samples collected only a small portion have been analyzed to date and the Company expects to recover more diamonds that will assist in isolating primary targets. The Company has a fully equipped heavy mineral preparation lab in Brazil and samples are being prepared for mineral indicator chemical analysis. The Company is also assessing the potential of the Canabrava Project area to host economic platinum deposits. Out of the 330 stream sediment samples, 220 have been assayed for platinum and palladium. Anomalous assays and the identification of platinum grains in many stream sediment concentrates has isolated nine source areas for this alluvial platinum. Ground follow-up on two of these has resulted in the recovery of significant platinum in concentrates from decomposed ultramafic rocks. One sample returned an assay of 4.5 grams per tonne platinum. Detailed mapping and sampling have been completed on one of these ultramafic complexes and assays are pending. Exploration for primary source diamond deposits in this area is intense and in excess of 5 million acres have been claimed. The Company has been approached by three major companies to form a joint venture. John G. Paterson, President -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: George Plewes, Chairman Canabrava Diamond Corporation, 604/669-2525 604/688-5175 (Fax) |
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