Swingplane Ventures, Inc.: Development On The Descubridora Vein Continues
SANTIAGO, Chile, April 4, 2013 /PRNewswire/ -- Swingplane Ventures, Inc. (OTC-BB: SWVI) (the "Company" or "Swingplane") is pleased to update information pertaining to the Algarrobo property.
Swingplane Venture Inc.'s (the "Company") Algarrobo Property (the "Property") is pleased to announce the update on the continuing work on the Descubridora Vein, one of the Major Veins, has resulted in an open cut on two exposures of the Descubridora Vein, Descubridora I and II.
In the News Release dated January 30, 2013, the Company reported work to develop a second exposure on the Descubridora Vein. The second exposure was located under eolian sand cover approximately 25 m below the level of the initial Descubridora I exposure and 30 m along trend to the southwest. Both exposures were characterized by high grade copper mineralization, with analyses of brochantite-bearing material documenting up to 46.58% copper (see News Release dated January 31, 2013). High grade material was extracted along trend, and subsequently stockpiled.
Development on Descubridora I resulted in exposure of a strongly oxidized iron cap, developed above high grade material, extending to surface over approximately 7 metres. Development work on Descubridora I has been temporarily halted in preference to the deeper Descubridora II Drift.High grade copper material was recovered from initial surface exposures to the southwestern contact of a felsic dyke, approximately 6 m thick. The Descubridora II Drift was extended north-northwest through the dyke into host rock beyond the northeastern contact of the dyke, at which point the drift was then extended west, approximately sub-parallel to the dyke, toward the interpreted location of the Descubridora Vein in the footwall (i.e. below) the dyke. A high grade vein (having initial visually estimated grades of 4-5% copper) was recently intersected, characterized by well mineralized, annealed texture. The mineralization exposed within the vein is in the footwall of the dyke, along which dextral dip-slip movement is interpreted to have occurred. The host rock in the footwall is, therefore, interpreted to represent shattered rock, with resulting void spaces subsequently infilled by copper mineralization (including azurite, subordinate malachite, possible chrysocolla) with a rind of very fine-grained quartz crystals along the margins of vugs.
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