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CNB.V
MAJ.V 0.310
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-0.10
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Monday April 8, 12:20 pm Eastern Time
Press Release
SOURCE: Canabrava Diamond Corporation
Canabrava Diamond Corporation and Majescor Resources Inc.: High Priority Targets Identified on Mistassini Project
Airborne Geophysics completed in Otish Mountain Area, Quebec
VANCOUVER, British Columbia--(BUSINESS WIRE)--April 8, 2002-- Canabrava Diamond Corporation (CNB-CDNX) and Majescor Resources Inc. (MAJ-CDNX) are pleased to announce that they have recently completed interpretation of the 9,224-line km airborne geophysical survey on the Mistassini Project in Quebec. Flown at a line spacing of 150 m, the survey was designed to identify possible drill targets related to the distinctive dispersion trains of kimberlitic indicator minerals already discovered by Majescor.
A total of 77 magnetic anomalies have been identified for follow-up exploration. As a result of the large number of targets and the fact that the nearby Ashton and Beaver lake kimberlites occur close to surface, further ground work is warranted. High priority targets will be followed up as soon as possible with glacial sediment sampling, prospecting and geological mapping. Majescor is the operator of the exploration programs and Canabrava is funding the work in order to earn a 50% interest in the project.
Of interest, Ashton Mining of Canada Inc. and its partner Soquem recently announced (Mar28/02) the discovery of a third kimberlitic body on their property located directly to the north of the Mistassini property. The first two are known to be significantly diamondiferous. Similarly, the Beaver Lake kimberlite, located just east of the Mistassini property, has also proved to carry both macrodiamonds and a significant population of G10 garnets.
Canabrava Diamond Corporation is actively exploring for diamonds in Brazil and Canada both independently and through major joint ventures with Kennecott Canada Exploration Inc., Navigator Exploration Corp., and Paramount Ventures and Finance Inc. The Company is 38.9% owned by Southwestern Resources Corp. (SWG-T).
Majescor Resources Inc. is an exploration company with the largest portfolio of diamond properties in Quebec.
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Contact:
Canabrava Diamond Corporation
Rory O. Moore
President & CEO
(604) 669-2525
(604) 688-5175 (FAX)
Email: info@canabrava.ca
or
Canabrava Diamond Corporation
George H. Read
V. P. Exploration
(604) 669-2525
(604) 688-5175 (FAX)
Email: info@canabrava.ca
Website: www.canabrava.com
or
Majescor Resources Inc.
Andre Audet
Executive V.P. Investor Relations
(613) 241-2332
(613) 241-6005 (FAX)
Email: andre@majescor.com
or
Majescor Resources Inc.
Jacques Letendre
President & CEO
(514) 735-0087
(514) 739-1346 (FAX)
Website: www.majescor.com
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and News: Canabrava Diamond Corp (Vancouver:CNB.V - news)
Majescor Resources Inc (Vancouver:MAJ.V - news)
Related News Categories: mining/metals
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