M.I.T. VENTURES: Discovery in Diamond Country
M.I.T. Ventures Corp MVC
Shares issued 8,149,064 Jun 23 close $0.54
Thu 24 Jun 99 Company Sponsored
DISCOVERY IN DIAMOND COUNTRY
MIT VENTURES CORP.
MVC - Vancouver Stock Exchange Symbol
Shares Outstanding: 8,149,064
Working Capital: $1,200,000
Current Share Price: $0.55
Website: mitventures.com
E-mail: mailto:info@mitventures.com
Toll Free: U.S. Canada: 1.877.731.8981
M.I.T. Ventures Corp. is a debt free Diamond Exploration company with an
experienced technical exploration and management team. Our specific mission
in 1997 was to discover new primary diamond occurrences with extensive
acreage and significant ownership. To date the project has yielded a
portfolio of three highly prospective diamond properties in Botswana,
Africa. These properties are all on a structural trend containing some of
the worlds major producing Diamond mines which are owned and operated by De
Beers.
A FOCUS ON BOTSWANA. WHY?
1. Botswana is the worlds leading diamond producer.
2. Exploration success has historically been very high.
3. The country is recognized to be politically and financially stable.
4. Title and exploration/exploitation conditions are transparent and
equitable.
Having established Botswana as the host country for the diamond exploration
campaign, our technical team further defined our criteria for property
selection as follows:
1. Concessions to be in close proximity to De Beers operating mines.
2. Concessions to have as little desert cover as possible.
3. Concessions to be close to known and perceived structural trends.
DIAMOND PROPERTIES
FOLEY SIDING PROPERTY (1,730 km2, earn up to 90%)
Foley Siding is the site of the first diamonds discovered in Botswana.
Encouraging results from the soil sampling todate have identified 8
significant kimberlitic mineral anomaly targets. Samples from two target
blocks 35/95/1 and 35/95/3 yielded 78 Garnets of which 56 were kimberlitic
and even more significantly, 11 were G10 type garnets. These results have
been confirmed by the Council for Geosciences in South Africa, thus
realizing the first ever substantiated discovery of G10s in the area. G10
garnets are strong indicators for diamond bearing kimberlites. Block
35/95/3 also yielded 2 macrodiamonds in addition to 6 kimberlitic garnets,
of which 3 were G10's. This close association of diamonds and garnets
supports our technical team's theory of the close proximity to a possible
major kimberlite source or even a new diamond province in Botswana.
Exploration is in progress and results are expected in 2nd-3rd qtr./99.
ORAPA SATELLITE KIMBERLITE PROPERTY (20 km2, earn up to 80%)
Located 25km east of the De Beers Orapa mine and just 14km North east of
their Letlhakane mine, two of the worlds largest producing diamond mines.
Exploration to date has focused on six known kimberlite pipes, BK2 BK4 BK5
BK14 BK16 BK28, ranging from 1.5 to 4 ha. in size. BK2 yielded 12
macrodiamonds (3.57 carats) of which the largest is 1.6 carats, BK16 has
yielded 25 macrodiamonds (4.99 Carats), including 4 diamonds each more than
0.5 carats from a 55 ton mini-bulk sample. A preliminary independent
evaluation values the diamonds higher than the average production from the
Orapa mine. MIT's exploration program will include a large representative
bulk sample and results are expected 3rd-4th qtr./99.
MARTINS DRIFT PROPERTY (962 km2, earn up to 90%)
8 kimberlite pipes have been discovered in the Martins Drift area of which
MIT's property contains 3, the other 5 are being mined by De Beers. MIT's
property surrounds the De Beers property. K001, K007, & K008 kimberlites
occur in a separate cluster (see map page) some 25km northwest of De Beers
mining lease. Exploration todate, which includes detailed ground
magnetometer survey over K001/8 and soil sampling adjacent to De Beers
mining lease, has produced very promising results. The magnetic survey
identified 15 new magnetic anomaly targets of 5 to 100m in length and due
to shallow cover the new targets can be easily pitted and are expected to
advance the project further. Soil sampling is in progress.
To view more on our company please visit our website at
mitventures.com or for more information call on our US/Canada
Toll Free line 1-877-731-8981 or 1-877-731-8972 or e-mail me directly at
mailto:info@mitventures.com and I will include you on future market news |
