Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canabrava Diamond -- Ignore unavailable to you. Want to Upgrade?

To: m.philli who wrote (1136)	4/17/1999 12:08:00 PM
From: m.philli	Read Replies (1) \| Respond to of 2402

The ITAMIRIM PROJECT (TAKEN FROM THE CNB 97 ANNUAL REPORT) The Itamirim Project (100% Canabrava) is located approximately 1.100 kilometres east of the city of Maraba. The property consists of 89,875 hectares of exploration concessions along the Araquaia River just east of its junction with the Tocantins River. The region is long known for its alluvial diamond production and gold diggings. In addition, kimberlitic intrusions may be associated with the circular magnetic anomalies defined in the western part of the property. Alluvial diamond deposits are known for a further 400 kilometres downstream of the Araquaia River(to the north), and a number of companies including RTZ have worked some of these deposits in the past. The Itamirim workings, which cover approximately 20 hectares, were largely abandoned after the activities of the garimpos(local small scale miners) changed the watershed hydrology and reduced the water availability needed for washing the gravels. At the present only a few local miners work the diamondiferous gravels within the company concessions. WHILE THERE IS NO RELIABLE production records, the average grade of these gravels has been estimated to be 0.20 carats per cubic metre. The diamonds average about 0.6 carats with individual diamonds up to 13 carats being recovered. Diamonds occur mainly within the river terraces, and alluvial gold is present within the sands and gravels of the current river channel. Three high terrace gravel deposits showing a classical step-like topography have been recognized on the Property. Old workings developed on the highest level terrace exposed medium to coarse gravel beds 4 to 5 metres thick with thin overburden cover. The gravel resource from the elevated terraces and on the flats below the high terraces has been estimated to be in excess of 750 million cubic metres. To evaluate the potential of the various targets identified on this property, a program of airphoto/radarsat interpretation, geological mapping, test pitting and sampling will be carried out during 1998. The estimated cost of this program is U.S. $225,000. (my comment, check that gravel resource number, whether diamonds or gold, this has got to be seen as an interesting property. Talk about dense media seperation plants, these rivers ,(along with the heavy rainfall occuring during the rainy season) have been operating as HMS plants for a long, long, time. Is Canabrava going to come along and "CLEAN OUT THE SLUICE BOX"?)