Consolidated Jaba Inc and Southwestern Gold Corporation - Rapid Advancement of the Tecka Platinum-Palladium Project, Argentina
VANCOUVER, B.C.--(BUSINESS WIRE)--April 23, 2001--Consolidated Jaba Inc. (CDNX:JBA. - news) and Southwestern Gold Corporation (TSE:SWG. - news) are pleased to announce that an aggressive exploration program has been initiated on the Tecka Ultramafic-Mafic Layered Complex located in Southern Argentina.
The Tecka Joint Venture, which is 55% JABA and 45% Southwestern is located in Chubut Province, about 1,500 kilometres Southwest of Buenos Aires and is comprised of 191,800 hectares of exploration concessions (Cateos) and 87,500 hectares of exploration concession applications. Southwestern can earn 71% of the Project Area by spending U.S. $3 million over three years.
The Tecka Ultramafic-Mafic Complex is the largest unexplored layered complex known in the world and mapping by the Joint Venture has shown that the Tecka complex is similar to the Bushveld and Stillwater Complexes which host large primary platinum-palladium deposits.
At present, a total of 600 soil samples and 140 rock chip samples have been collected and sent to Bondar-Clegg in Canada for multielement analyses. Detailed geological mapping by the Joint Venture has shown that the Complex is at least 100 kilometres long and more than 3,000 metres thick. In general, the Complex dips at a low angle to the east and is comprised of abundant cumulate rocks made up of a basal ultramafic zone, a transitional zone, and a more mafic upper zone. Ultramafic rocks include peridotite and pyroxenite with the mafic complex dominated by gabbro and subordinate anorthosite and norite.
Significant sulphide concentrations have been discovered and appear to be widespread with the most significant zone found in the transition between the ultramafics and mafics within the central portion of the Complex. At this locality, layered fine-grained sulphides include chalcopyrite and pyrrhotite. A second area characterized by blebby sulphides (mainly chalcopyrite) has also been discovered. The sulphide mineralization has been trenched and samples sent for assay. The lateral extent of the above mineralization is not known.
The Joint Venture partners are pleased with the rapid progress of the Tecka Platinum-Palladium Project and the potential of the area. The exploration team presently consists of five geologists and three groups of soil samplers. With the positive results in the program to date the scope of the ongoing exploration will be expanded.
Quality Control
Southwestern has implemented a quality control program to ensure exploration best practice in sampling and analysis. All of the rock and soil samples are shipped in security-sealed bags to the Bondar-Clegg sample preparation facilities in Mendoza, Argentina and the pulps are shipped to Vancouver for analyses. Platinum, palladium and gold analyses are by fire assay with an ICP finish. A partial digestion and 35 element ICP analysis will also be conducted on each sample. The Bondar Clegg Vancouver laboratory is an ISO 9002 certified lab that is preparing for ISO 17025 certification. It has participated successfully in the CANMET PTP-MAL round robin program.
Some of the statements contained in this News Release contain forward-looking information which involves inherent risk and uncertainty affecting the business of the Company. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
