This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Algarrobo Newly Discovered Vein System Contains Close To One Hundred Mineralized Veins And Visible Gold

SANTIAGO, Chile, Feb. 11 , 2013 /PRNewswire/ -- Swingplane Ventures, Inc. (OTC-BB: SWVI) (the "Company" or "Swingplane") is pleased to update information pertaining to the Algarrobo property.

The Algarrobo Property (the "Property") is located approximately 850 km north of Santiago, in the III Region, Province of Copiapo, Chile.  The city of Copiapo is located approximately 43 km to the southeast of the Property, with the small port city of Caldera 25 km to the east. The Property consists of 32 tenures, comprising a total of 6,161 hectares.

Mineralization on the Algarrobo property clearly belongs to the Iron-Oxide-Copper-Gold (IOCG) deposit style, with copper, gold and iron as the principal metals, and accessory silver, cobalt, uranium and REE metals, typical for the Chilean Iron-belt.

Visible Gold has been detected in the stockpiles and smelter grade shipments, averaging about 2 g/t. Individual samples from vein material assayed up to 8 g/t gold. Visible gold in IOCG deposits is very rare.

Freeport McMoran's Grasberg Gold mine produces with an average of grade of .56 g/t, which displays the ability of the above gold grades averaging 2 g/t on the Algarrobo property and the individual samples from the veins of up to 8 g/t gold content on the Algarrobo property to be an additional economic benefit, in addition to the production of copper.

Channel sampling near "Veta Gruesa" documented an average background of 0.36% Cu. Stockpiles from production (leach plant shipping preparation) return between 1.0% to 5.0% copper

At today's level of exploration, Algarrobo contains close to one hundred mineralized veins, with more veins likely to be discovered as large scale exploration continues in the sand covered areas to the southwest on the property. Observed strike continuation depends on the vein type, main-first-second-third, and ranges from a few hundred meters to several km.   Newly discovered vein systems show higher grade mineralization to what existed in old Algarrobo and is interpreted to indicate highly promising exploration potential existing towards the southwest on the property. Dozens of previously ignored, siderite veins appear to have commercial copper grades under present day conditions, with grades expected to increase considerably with depth.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs