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Gold/Mining/Energy : Black Swan -- Ignore unavailable to you. Want to Upgrade?

To: mike timoranszky who wrote (3152)	2/17/2000 11:27:00 PM
From: Dale Kohler	Read Replies (1) \| Respond to of 3186

Glad to do it Mikey. Here's another. Things sure have slowed down on this old board old friend. VANCOUVER, Feb. 17 /CNW/ - Black Swan Resources Ltd. has commenced its Year 2000 field season with initial emphasis on diamond exploration for economically viable kimberlite within its Coromandel and Serra da Canastra prospects in Minas Gerais State, Brazil. In addition, processing improvements are well underway at its alluvial operations. Coromandel Kimberlite Exploration The Canguru 1 Anomaly is located beneath river terraces actively exploited by local artisanal miners in the Coromandel district. Abundant, fresh kimberlite indicator minerals including olivine and phlogopite mica, that reflect a nearby underlying source, were used to identify this anomaly. Geological mapping and ground magnetometry have been completed. Pitting will begin shortly to reveal and sample the kimberlite to confirm its diamond prospectivity. In addition, drainage sampling has been initiated to verify the possibility of other diamond-prospective satellite bodies occurring in adjacent areas of large alluvial diamond workings. Serra da Canastra Kimberlite Exploration Orientation studies on known kimberlites within the Serra da Canastra Province have been conducted in order to create a mineral and information database for assisting on-going exploration. Sampling programs will commence shortly on Black Swan's extensive land holdings as a follow-up to previously identified alluvial diamond and indicator mineral anomalies. These anomalies are related to prospective structural zones and are located in the general vicinity of a recent diamond-bearing kimberlite discovery. A major airborne EM and magnetic survey is planned for midyear 2000. Additional prospects in the Serra da Canastra district will be evaluated as part of this program. Gamela Alluvial Operation The Gamela property (Black Swan currently has an option to acquire 51%) covers a 13 km strike length of the Paranaiba River and currently hosts a 3.6 million cubic metre gravel resource achieved from drilling 30% of the property. The best alluvial grades appear to be related to the present-day flood plain rather than higher terraces. Plans have been made to shift mining operations to these water-saturated basal gravels. A new jig plant rated at 100 cubic metres (bulked) per day has been constructed and commissioned and mining will resume as soon as access is possible after the heavy rains experienced this wet season. The larger treatment plant will also resume operating once water levels subside. Recent results in this area returned a grade of 0.13 carats per cubic metre and stone value of US$696 per carat. Marques and Estaca Alluvial Prospects The Marques and neighbouring Estaca properties, both 100% Black Swan owned, are upstream from the alluvial diamond production at Gamela and occupy a 28 km meandering stretch of the Paranaiba River. Combined, these two properties have drill-tested a gravel resource in excess of 8 million cubic metres. Marques has been selected as the first target for alluvial evaluation due to the extent of its drill coverage and to the recent recovery of two large +300 carat diamonds by local artisanal miners, just downstream from the Marques property. Bulk samples will be collected on the Marques property from a series of 5 metre wide trenches, up to 500 metres long across lower terrace areas. Approximately 33,000 cubic metres of gravel will be treated during this bulk-sampling program. This evaluation can significantly supplement exploration expenditure by providing improved geological understanding, grade reliability and accurate mine planning. The sample processing will be done by a transportable 15 tonnes per hour HMS (Heavy Media Separation) plant with a 60 tonnes per hour head-feed capacity. This plant is presently being constructed in South Africa and is expected to be on site for commissioning in late May. Preparations for staffing, site works, earth moving, environmental approvals and land access are well underway. View our Web Site at: www.blackswan.com