SANTIAGO, Chile, March 18, 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 an Iron Oxide-Copper-Gold (IOCG) property 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 ha (15,224 acres).
Rick Walker, Qulified Person for the Company, is currently on-site on the Property for the purposes of undertaking further sampling. Proposed sampling includes additional geochemical sampling of the veins, developed drifts, mineralized and leached vein haloes and background host rock. Sampling will also include recovery of a suite of samples for mineralogical evaluation and two samples for metallurgical testing.
The intent of geochemical sampling is to further document the character of high grade mineralized veins on the Property, with an emphasis on the western portion of the Roble tenures where drifts have been developed for the purposes of production once the Company receives the ENAMI license required (expected by the end of March). Previous samples have emphasized analysis of Direct Shipping Material (which can be shipped and sole directly to ENAMI for processing) and high grade material. The proposed sampling, currently underway, will include samples along the exposed surface extent of veins, samples of lower grade material in the halo of mineralized veins, as well as background samples of the host rock between high grade copper mineralized veins.
In addition, given the recent increase in the price of iron, sampling will include samples of the magnetite-bearing eolian sand which covers the majority of the Angela tenures. Analysis will include determination of the iron content of a magnetite-rich sample recovered by magnet. Geochemical analysis will also include determination of the Titanium and Vanadium content of the magnetite sample. A sample will also be submitted to Neomet in Saint-Laurent for evaluation using their new technology for recovery of iron (as hematite), titanium and/or vanadium from magnetite-bearing material.
A mineralogical study will be undertaken Process Mineralogical Consulting Ltd in Maple Ridge, BC. Up to 15 separate samples of copper-bearing material, ranging from low grade to high grade, will be submitted for mineralogical determination of the mineral species present on the Property. Proposed work includes identification of copper minerals using polished thin sections, followed by analysis using a "… Tescan Integrated Mineral Analyser (TIMA) to determine the mineral abundance, grain size and Cu-bearing mineral distribution. A pseudo-image of the polished section will be generated using the TIMA software. The polished thin section will be examined using an optical microscope and supported by interactive SEM investigations to delineate the Cu-bearing mineral species."
A suite of copper-bearing samples will also be submitted to TOMRA Sorting Solutions in Surrey, B.C. for evaluation of the samples with regard to sensor-based mechanized sorting. Currently, high grade copper material is visually sorted by hand for subsequent shipment to ENAMI. As such, hand sorting represents the biggest impediment to increasing production on the Property. The Company will submit the samples to evaluate the effectiveness of a TOMRA sorting unit for possible use on the Property.
Finally, two samples will be submitted to the Metallurgical Division of Inspectorate Exploration & Mining Services Ltd. in Richmond, B.C. for metallurgical testing. Low grade (Cu leachable – less than 7% copper content) and a high grade (Direct Shipping Material – greater than 7% copper content) samples will be submitted for a "… a scoping level study to establish approximate copper grades and recoveries, along with contained gold and silver". Subsequent metallurgical work is proposed to include work to evaluate potential for recovery of additional metals, including cobalt, nickel, and molybdenum, Platinum Group Elements (if present) and/or Rare Earth Elements.
The results of the above work will significantly increase the quantitative data available for the Property and the high grade copper mineralized veins of interest. Furthermore, the results are expected to allow the Company to make informed decisions with regard to further development of the Property and associated infrastructure.
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 Torre
President and Director
For more information please visit our web site at:
Investor relations: 1-800-253-1692
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SOURCE Swingplane Ventures, Inc.