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BRC Diamond begins exploration of its Lubao project in DR Congo
Tuesday May 31, 12:44 pm ET
TORONTO, May 31 /CNW/ - BRC Diamond Corporation (the "Company" or "BRC") (TSX-V: "BRC") is pleased to announce that it has commenced exploration on its prospective Lubao diamond project in the Democratic Republic of the Congo (the "DRC").
The exploration program, which is being managed under contract by Bureau of Geological Consultancy S.A. ("Bugeco") of Belgium, will consist primarily of stream sediment sampling designed to target concentrations of Kimberlite indicator minerals (KIMs). KIMs, in particular pyrope, garnet, ilmenite, spinel, chrome diopside and forsterite, may be indicative of the presence of Kimberlite pipes.
During the first three-month phase of the program, bulk sediment samples will be collected at a number of artisinal mining sites. Samples collected will be sent to the ODM Laboratories in Nepean, Ontario for heavy liquid separation of heavy minerals and subsequent analysis of the recovered KIMs. The surface texture of individual grains will be studied to estimate the surface distance to potential primary diamond sources. Microprobe studies of the grains will also be conducted to obtain information on the diamond potential of such primary sources.
The second phase of the exploration program will focus on collecting stream sediment samples with an average sample density of one sample per 10 square kilometers so as to identify areas with anomalous concentrations of KIMs. Exploration during this phase is expected to encompass the entire area of the Lubao properties with the goal of generating anomalies for follow-up work.
Bugeco was selected for the sediment sampling program partly due to its experience with diamond exploration in the Lubao region and its ownership of 48 Exploration Permits ("PRs") contiguous to BRC's properties.
In conjunction with the sampling program, Xcalibur Airborne Geophysics (Pty) Ltd of South Africa has been engaged to conduct an airborne geophysical survey over the Lubao properties. This work is scheduled to commence in July. Data from the sediment sampling and geophysical programs will be integrated to facilitate the identification of the most prospective Kimberlite targets for drill testing.
The Lubao region is located in Kasai-Oriental province, historically the largest diamond producing region of the DRC. The Company's properties consist of 13 PRs covering an area of approximately 4,900 square kilometers. In addition, the Company has applied for and received confirmation from the Mining Cadastral of the DRC Ministry of Mines that it will be able to secure title to a further 6 PRs contiguous to its Lubao project. This would increase BRC's land package to 19 PRs or a total of approximately 7,000 square kilometers.
The Company believes that the geology of the Lubao region is highly conducive for Kimberlites. The Lubao PRs are located on the eastern margin of the Congo Craton, which hosts the diamond fields of Lunda Norte Province in northeast Angola. Given the favourable geological setting and the fact that the area has never been explored using modern exploration techniques, the Company believes that the region has the potential for hosting as yet undiscovered Kimberlite pipes.
L. Joseph Bardswich, P. Eng., a "qualified person" as defined by National Instrument 43-101, reviewed the technical information in this release.
BRC is a Canadian-based diamond exploration company active principally in the DRC. Led by a management team with extensive experience in the DRC, the Company effectively controls exploration on 43,500 square kilometers in some of the most prospective diamond regions of the DRC. Banro Corporation, the Company's largest shareholder with a 35.8% interest in BRC, is a mineral exploration company focused on the DRC.
This press release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding future plans and objectives of the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.
Factors that could cause such differences include political developments in the DRC, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, subject to complying with applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Source: BRC Diamond Corporation
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