NEWS:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CAUSSA CAPITAL CORPORATION
TSE SYMBOL: CAU
NOVEMBER 18, 1999
Caussa Capital Corporation: Successful Drilling Program
Completed on Witkrans Diamond Property Trial Mining to
Start
TORONTO, ONTARIO--Caussa Capital Corporation is pleased to
announce that it has successfully completed a 74 -hole percussion
drill program on the Company's newly-acquired Witkrans diamond
property, located approximately 120 kilometres west of
Johannesburg, in the alluvial diamond producing Ventersdorp
district of South Africa.
Caussa's drill program defined a continuous alluvial gravel
deposit or channel "run" extending over a distance of 1.1
kilometres. The deposit lies within a linear bedrock depression
that reaches widths of up to 150 metres and depths of 26 metres
below surface. The gravel horizon reaches thicknesses of up to 18
metres within the channel. Dr. T.R. Marshall, geological
consultant to Caussa and one of the leading experts on inland
alluvial diamond deposits, has reported that the drilling has
indicated that the gravels are "similar in composition to that
which is mined economically elsewhere in the vicinity, both in
potholes and in channel "runs".
Based on the successful results of the drill program, Caussa is in
the process of receiving tenders for the fabrication of a diamond
recovery plant that is capable of undertaking the trial mining of
a 50,000 tonne bulk sample to determine both diamond grade and
quality for the Witkrans deposit. Trial mining of the deposit is
expected to commence in February 2000.
The Witkrans diamond property is situated 35 kilometres north of
the town of Ventersdorp and encompasses 3,856 hectares. It covers
the northwestern extension of the Vetpan-Hartebeeslaagte alluvial
diamond deposit, which produced an estimated 42,160 carats of
diamond to date. While this deposit has been mined extensively on
the neighbouring Vetpan and Hartebeeslaagte properties immediately
to the east, little to no production has been undertaken on
Witkrans.
Diamonds were first discovered on the property during the late
1920s as a result of a prospecting rush to the area. Caussa's
recent drilling program has determined that the
Vetpan-Hartebeeslaagte deposit extends across the Witkrans
property in a westerly direction. It is encouraging to note that
the diamondiferous gravels that have been mined on the
neighbouring Vetpan property extend right up to the fence-line
that marks the boundary between the two properties.
Diamonds recovered from alluvial gravels in the Ventersdorp
district are renowned for their high quality and large average
stone size and are normally sold at values of over U.S.$400 per
carat. Caussa also owns the diamond rights to the K2 property on
which exploration will be undertaken in the new year.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Caussa Capital Corporation
Anthony D. de Werth
Chairman & CEO
(416) 861-9940
(416) 861-0057 (FAX)
20 Adelaide Street East, Suite 901
Toronto, Canada M5C 2T6
or
Robert Yeoman
Vice President
(416) 861-9940
(416) 861-0057 (FAX)
Website: caussacapital.com
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
INDUSTRY: MNG
SUBJECT: NWS |
