Progress at Diamond Properties in Brazil
VANCOUVER, June 19 /CNW/ - Black Swan Resources Ltd (``Black Swan'') is
pleased to announce significant progress at both its alluvial and primary
diamond exploration properties in the state of Minas Gerais, Brazil:
HIGHLIGHTS
- The new HMS bulk sampling treatment plant has
arrived in Brazil and will be employed to evaluate
Black Swan's extensive alluvial diamond properties
along the Paranaiba River.
- Kimberlite exploration in the Coromandel and
Serra da Canastra provinces has identified 7 discrete
mineral indicator anomalies close to source and the
majority in proximity to alluvial diamond workings.
- Known kimberlites within the Company's tenements
have been reassessed on the basis of mineral
geochemistry and several confirmed as diamond-prospective
and warranting further investigation.
Alluvial Diamond Projects
Black Swan has a number of alluvial projects covering over 47km of the
previously poorly explored Paranaiba River in the Coromandel region of the
state of Minas Gerais which has yielded diamonds up to 351 carats in size from
``Garimpeiro'' workings in recent years. Trial mining at the Company's Gamela
joint venture prospect last year produced a grade of 13 carats per 100m3 at
US$696 per carat.
Drilling to-date has outlined 12 million m3 of prospective gravels within
alluvial flats and upper terraces associated with some of the more downstream
prospects only. Alluvial evaluation, based on sampling a series of 5 metre
wide trenches across lower terraces, will be first undertaken at Marques where
33,000 m3 of gravels are scheduled for excavation over the next 5 months. This
sample will be processed using a 15 tph HMS bulk treatment plant that is
planned to be commissioned on-site at Marques by mid-July. The 60 tph
head-feed capacity HMS plant was fabricated in South Africa to Black Swan's
specifications. The plant has recently arrived in Brazil and uses the latest
in technology, particularly relating to density control. Site works will
shortly commence prior to trench excavation in readiness for its arrival
on-site.
Recent research into untested areas further upstream on the Paranaiba
River has revealed large, prospective cut-off meander loops and outer meander
terraces with several kilometers of strike length and it is anticipated that
major additions to the overall gravel inventory can be established for future
bulk testing.
Kimberlite Exploration
Complementing the alluvial evaluation of its Paranaiba River leases in
the Coromandel region, exploration has to-date located 5 indicator mineral
anomalies close to source and in proximity to known alluvial workings along
related tributaries. The Canguru 1 Anomaly has yielded abundant olivine,
perovskite, picroilmenite, phlogopite, pyrope garnet and a diamond from pit
sampling. A 2-3 hectare magnetic target has been outlined nearby and will be
tested shortly to determine the presence of kimberlite and its diamond
potential.
The Serra da Canastra Kimberlite Province has produced alluvial diamonds
up to 110 carats in size and although it is better known for its high
octahedron population, other distinct diamond populations are also evident.
The Company holds an extensive portfolio of tenements, both for kimberlite and
alluvial deposits within the province. These leases host a number of known
kimberlite occurrences, the largest 15 hectares in extent and several are
diamond-prospective. Those kimberlites, rated highly on the basis of grain
geochemistry, will be investigated further by ground geophysics and
preliminary sampling for diamonds.
Ongoing regional exploration within the Company's claims has highlighted
2 indicator mineral anomalies with grain counts and morphology indicating
nearby sources. These discoveries extend the known limits of the province and
are currently being followed up to determine their diamond potential. The
Company is continuing its aggressive sampling program at Serra da Canastra in
an effort to identify the sources of the many unexplained alluvial diamond
populations within the province.
Speaking today at the World Diamond Conference in Toronto, Black Swan's
exploration consultant, Hugh Durey said ``Our dual strategy is to rapidly
evaluate and develop our alluvial diamond properties and to explore actively
for economic kimberlite in an area renowned for its extensive alluvial fields,
high diamond prices, large, often coloured stones and its potential for
economic kimberlite.''
View our Web Site at: www.blackswan.com
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