Swingplane Ventures, Inc.: Additional Development On The Algarrobo Property
One of the trenches exposed a 1.3 m thick, well developed, strongly to completely oxidized, dark to brick red iron oxide zone immediately below a thin cover of eolian sand. The new exposure is interpreted to represent a potential iron cap to a high grade copper mineralized vein, similar to that documented on the Descubridora I and Veta Gruesa Centre occurrences. As such, it will require further work to develop and evaluate it as a candidate for a possible drift. Such work will be undertaken at a later date, when sufficient heavy equipment is available to support potential underground development in this area.
Finally, observations made in exposures from recent excavations are interpreted to tentatively confirm the interpretation that near surface carbonate veins (in particular, siderite and/or ankerite – iron carbonate veins) may represent the high level equivalent of deeper, high grade copper mineralized veins. Excavations at both Sierra de la Gloria and at the west end of the surface expression of the Veta Gruesa, as well as several instances noted in outcrop, identified high grade copper inclusions and/or nodules within and/or along the margins of several separate and distinct siderite / ankerite veins.
Results of geochemical analysis will be announced once received and reviewed by the Company.
Note: Under the terms of the Option Agreement, all proceeds from the sale of any ore shipped and processed will be paid to the Optionors, until such time as the Company commences operations on the Property (see Material Change dated February 25, 2013).The content of this news release has been reviewed by Rick Walker, B.Sc., M.Sc., P. Geo., a Qualified Person for the purposes of NI 43-101, with the ability and authority to verify the authenticity and validity of the data herein. Carlos De la TorrePresident and Director For more information please visit our web site at:W: www.swingplaneventuresinc.com Or contact:Investor relations: 1-800-253-1692
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV