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

To: m.philli who wrote (1137)	4/17/1999 1:24:00 PM
From: m.philli	Read Replies (2) \| Respond to of 2402

OKAY GUYS, THIS IS THE LAST ONE,hope they are of benefit to someone! MACAPA AND NORTH BAHIA PROJECTS (TAKEN FROM THE 97 CNB ANNUAL REPORT) In September 1997, the Company signed a Letter Of Intent with Paramount Ventures and Finance Inc. to explore for diamonds on the Company's Macapa and North Bahia Projects. To earn a 50% interest Paramount must spend U.S. $500,000 on exploration by March,99. Thereafter, the partners will jointly fund the projects. Canabrava will operate the exploration programs on behalf of the Joint Venture. The Macapa Project is located in Amapa State in northeastern Brazil, approximately 400 kilometres northwest of the city of Belem. The Project is comprised of 20,000 hectares of exploration concessions underlain by Archean rocks of the Guyana Shield. The area is easily accesible by paved and gravel roads from the city of Macapa and from a number of smaller towns and villages in the immediate area. Historically, the area has produced gem quality diamonds from alluvial deposits, and government airborne magnetic surveys indicate pipe-like anomalies in the source areas for the alluvial diamonds. A boulder of kimberlite containing macro-diamonds was also recovered in the alluvial workings. The North Bahia Project is located in Piaui State, approximately 700 kilometres northeast of the capital city of Brasilia and is comprised of 3,000 hectares of exploration concessions. A large kimberlite pipe measuring approximately one kilometre in diameter underlies a portion of the Property, and alluvial diamonds have been recovered from streams draining the pipe. Government geologists confirmed the pipe to be a kimberlite, and named it Redondao. Ten circular magnetic anomalies have been identified on the Property on government airborne magnetic maps. A program of geochemical stream sediment sampling for kimberlite indicator minerals on both projects will commence in the second quarter of 1998, and the Redondao pipe will be sampled in order to evaluate its diamond potential. (my comments, these are some ,not all, of the properties being looked at in Brazil. THIS INFORMATION IS ONE YEAR OLD, SOON WE WILL BE HEARING UPDATES ON ALL THESE PROPERTIES. I HAVE NOT MENTIONED THE PIPE POTENTIAL ON THE SUF/CNB CANABRAVA PROPERTIES, I think everyone knows what a economic pipe can do for a company. I have focused on the info related to the potential of alluvial diamond operations, as one of these is already being put into production CNB/PVF, and rumblings of another CNB/SUF soon. IMHO some of these alluvial operations may equate to a "motherload" of diamonds on there own and this stock is cheap. Judge for yourself, these postings may help in your due diligence as to stock valuations.)-mike