Navigator and Canabrava commence winter program at Severn
Winter program underway, Severn Project, Northern Ontario
VANCOUVER, Jan. 16 /CNW/ - Navigator Exploration Corp. (NVR-CDNX) and
Canabrava Diamond Corporation (CNB-CDNX) announce that a Memorandum of
Understanding (MOU) has been signed with the Attawapiskat First Nation, and
that the winter exploration program on the Severn Project in Northern Ontario
has commenced.
The MOU with the Attawapiskat First Nation establishes a cooperative
working relationship that ensures mineral exploration activities will be
carried out to the mutual benefit of both parties and in such manner as to
minimize disturbance of traditional lands. Both Navigator and Canabrava are
pleased to have established such a positive relationship with the Attawapiskat
First Nation at this early stage of the Project.
Following an initial two-week field program completed in December 2000,
preparations for a winter drill program on the Severn Project are now
underway. A number of priority airborne geophysical targets located on the Kat
claims will be tested with ground geophysics and drilling. The Kat claims are
located within and immediately adjacent to the Attawapiskat kimberlite
cluster, approximately 500 km NNW of Timmins, Ontario. Camp mobilization has
commenced along the recently opened winter road that runs from Moosonee
through Attawapiskat to the Victor Camp, operated by De Beers Canada
Exploration Inc. Over the next two weeks, crews will conduct ground
geophysical surveying in preparation for drilling, and it is anticipated that
drilling will commence in early February. Navigator has selected ten priority
targets for drill testing, at least five of which are located in the immediate
vicinity of the diamond-bearing Victor Pipe, the site of a large tonnage bulk-
sampling program (approximately 7000 tonnes) conducted by De Beers in 2000.
The 18-hectare Victor kimberlite is the largest of 18 pipes that comprise the
Attawapiskat cluster. Published reports confirm that 17 of these pipes are
diamondiferous. De Beers continues to assess the economic potential of the
Victor Pipe with additional drilling and bulk sampling work in 2001.
In the fall of 2000, additional airborne geophysical surveys were
completed over three large blocks located in the general vicinity of the
Attawapiskat kimberlite cluster. More than 47,000 line kilometers of airborne
geophysics has been flown on the Project to date, and numerous targets of
interest have been identified. Processing of the geophysical data is ongoing
and additional staking will be completed as part of the winter program.
Under the terms of the agreement with Canabrava, Navigator is required to
spend $1 million by March 20, 2001 and $750,000 by March 20, 2002 in order to
earn a 50% interest in the Project. Navigator has spent approximately $1
million on the Project to date and the budget for the winter drilling program
is around $1 million.
Navigator and Canabrava are highly optimistic about the region's
potential to host additional, undiscovered diamond bearing kimberlites and
will continue to aggressively advance exploration efforts on the Severn
Project in 2001.
Navigator Exploration Corp. is actively exploring for diamonds, gold and
base metals in Northern Canada, both independently and through separate joint
ventures with De Beers Canada Exploration Inc., Canabrava Diamond Corporation,
Tyler Resources Inc., Falconbridge Limited, and Phelps Dodge Corporation of
Canada Limited. In addition, Navigator is also participating in base and
precious metals exploration in Ireland through its approximately 41%
shareholding in Strongbow Resources Inc.
Canabrava Diamond Corporation is actively exploring for diamonds in
Brazil and Canada both independently and through major joint ventures with
Kennecott Canada Exploration Inc., SouthernEra Resources Limited, Paramount
Ventures and Finance Inc. and Navigator Exploration Corp. Canabrava is 52.5%
owned by Southwestern Gold Corporation (SWG-T).
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Eira Thomas, President, Robin Hopkins,
Vice-President, Navigator Exploration Corp., 1300 - 409 Granville Street,
Vancouver, B.C., V6C 1T2, Phone: (604) 668-8355, Fax: (604) 668-8366, E-Mail:
information@navigatorexploration.com, Web site:
www.navigatorexploration.com; George H. Plewes, Chairman or, Rory O. Moore,
President & CEO, Canabrava Diamond Corporation, 1650 - 701 West Georgia
Street, Vancouver, B.C., V7Y 1C6, Phone: (604) 669-2525, Fax: (604) 688-5175,
E-Mail: info@canabrava.ca, Web site: www.canabrava.ca |
