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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: hx4 who wrote (6489)2/11/2002 9:41:25 AM
From: Al Collard   of 11802
 
CNB-v...in the news:

Canabrava, Majescor receive Mistassini survey results

Mon 11 Feb 2002

Also Majescor Resources Inc (MAJ)
Mr. Rory Moore of Canabrava reports
CANABRAVA DIAMOND CORP. AND MAJESCOR RESOURCES INC.: POSITIVE ...
Canabrava and Majescor have received the completed airborne geophysical
survey and high-interest kimberlite indicator mineral results on their
Mistassini project located in the Otish Mountain region of Quebec.
The 7,370-line-kilometre airborne geophysical survey announced in
Stockwatch Dec. 19, 2001, was successfully completed in January, and
processing and interpretation of the data set will be completed before
month-end. The survey covered the majority of the project area and was
designed to assist in defining drill targets at the head of each of the
distinctive dispersion trains of kimberlitic indicator minerals previously
identified. Drilling will commence with target definition.
The recently received Mistassini project mineral chemistry results are
highly encouraging. Over 500 individual kimberlite indicator mineral grains
have been analyzed to date. The suite is dominated by ilmenite, with pyrope
garnet and chromite being well represented. Rare recoveries of
mantle-derived olivine are also reported. Of particular significance is the
presence of a number of good-quality G10 garnets, as well as diamond
inclusion chromites (up to 64.2 wt. per cent Cr2O3). The recovery of
perovskite-mantled ilmenite also suggests a proximal kimberlite source.
These results, together with the presence of macrodiamonds in the nearby
Beaver Lake kimberlite, confirm the diamond potential of the area. The
Mistassini indicator mineral chemistry and assemblage confirms derivation
from a distinct and local kimberlite cluster.
Canabrava can earn a 50-per-cent interest in the Mistassini project by
incurring $1.35-million in exploration expenditures before December, 2004.
The project totals 1,216 square kilometres of approved claims with an
additional 494 square kilometres still pending approval with the Ministry
of Natural Resources Quebec. The area has been subject to intense staking
activity by numerous exploration companies over the past few months as a
result of the announcement by the Ashton/Soquem joint venture of promising
diamond results from the nearby Renard I and II pipes.
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