Canabrava Diamond Corporation and Majescor Resources Inc.: Many High Priority Geophysical Targets Revealed on Mistassini Project, Quebec; Drilling Planned For Late Fall
VANCOUVER, BRITISH COLUMBIA--Canabrava Diamond Corporation
(CNB-TSX Venture) and Majescor Resources Inc. (MAJ-TSX Venture)
are pleased to announce the results of the summer 2002 field
campaign for the Mistassini Project in Quebec that saw the
collection of 294 glacial sediment samples and the investigation
of a large number of geophysical and indicator mineral anomalies.
Two of the highest priority magnetic anomalies stand out in
particular with kimberlitic indicator counts of 507 and 563 in
samples of basal till collected down-ice, 600 and 2,300 metres
from the two investigated targets, respectively. A high percentage
(up to 90%) of the grains in these samples also bear fragile
surface reaction rims indicating proximity to source. A number of
other geophysical anomalies also stand out, being closely
associated with indicator mineral counts in till as high as 174
and abundant fragile surface textures.
The laboratory results are currently being reviewed in order to
select targets for a campaign of follow-up geophysics and drilling
slated for this fall. Majescor is the operator of the exploration
programs and Canabrava is funding the work in order to earn a 50%
interest in the Project. The Mistassini Project is well located
within the new field of diamondiferous kimberlites discovered by
Ashton-Soquem on their Foxtrot Project. The Mistassini Project
consists of more than 1,700 square kilometers of mineral claims
southwest of the Ashton-Soquem Properties.
Majescor Resources Inc. is an exploration company with the largest
portfolio of diamond properties in Quebec where, in addition to
the Mistassini Project with Canabrava, it has joint ventures with
BHP Billiton Diamonds Inc., Diamondex Resources Ltd., and Dunsmuir
Ventures Ltd. Majescor has also recently taken an option on
Diamonds North Resources Limited's Wellington property on Victoria
Island, Nunavut.
Canabrava Diamond Corporation is actively exploring for diamonds
in Canada and Brazil both independently and through major joint
ventures with Diamonds North Resources Ltd., Kennecott Canada
Exploration Inc., Navigator Exploration Corp., and Paramount
Ventures and Finance Inc. The Company is 39.1% owned by
Southwestern Resources Corp.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Canabrava Diamond Corporation
George H. Read
President & CEO
(604) 669-2525
(604) 688-5175 (FAX)
Email: info@canabrava.ca
Website: www.canabrava.ca
or
Canabrava Diamond Corporation
Thomas W. Beattie
V.P. Corporate Development
(604) 669-2525
(604) 688-5175 (FAX) |
