2014

Swingplane Ventures Inc. Expecting Confirmation Of Significant Gold Assays

SANTIAGO, Chile, Feb. 25, 2013 /PRNewswire/ -- Swingplane Ventures, Inc. (OTC-BB: SWVI) (the "Company" or "Swingplane") is pleased to update information pertaining to the Algarrobo property and the Company

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).

The Algarrobo property clearly displays all the characteristics of an 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.

We are further encouraged by gold results that were discovered during past sampling  which is illustrated by the Stromberger Report.  Samples ranged from 0.41 g/t Au to 5.80 g/t Au, which represented an average of 1.25 g/t. throughout the property.

In addition to the significant gold results above, more samples have been sent to Acme Analytical Laboratories Ltd for assay.   We expect to publish those results later this week.  Visible Gold has been detected in the stockpiles and smelter grade shipments, averaging about 2 g/t. Individual samples from vein materials assayed up to 8 g/t gold.

In the Walker report posted on our web site a compilation of results from grab samples recovered from waste dumps, trenches and underground workings of 0.25g/t of Au up to 5g/t of Au throughout the property.

Chile is South America's 4th largest gold producer with mining infrastructure in the area being well-developed. Skilled labor and mining equipment is readily available.  Toronto-based Barrick Gold Corporation, the world's largest gold mining company, is developing the Pascua-Lama open pit mine project of gold, silver, copper and other minerals. Pascua Lama is located in the Andes mountains, in the southern reaches of Atacama Desert, straddling the border between Chile and Argentina at an altitude of over 4,500 meters. Pascua-Lama contains estimated deposits of 17 million ounces of gold and 635 million ounces of silver, with 75 percent of the deposits in Chile and 25 percent in Argentina.

Yamana Gold's 100% owned El Penon gold-silver mine in northern Chile continues to be productive.  The Pampa Augusta Victoria vein system was discovered 30 kilometers north of the mine in 2009, and subsequent exploration identified the Elizabeth vein system.  Pampa Augusta Victoria is a grassroots discovery by Yamana geologists and is similar to other high grade veins discovered previously at  El Penon.  Total gold equivalent mineral ("GEO") reserves increased by 20% to 3.5 million GEO in 2011 supporting an increased mine life and a higher sustainable production level of 440,000 GEO per year.

As required with the closing of the share exchange agreement, as of today's date, Mr. Michel Voyer has resigned as an officer and director of the Company. Mr. Carlos De La Torre has been appointed as President and Chief Executive Officer of the Company.  Mr. De La Torre will also take the position as acting Chief Financial Officer and Secretary of the Company until such time as the Company can interview candidates with the required experience to work in the mining industry in Chile and with an understanding of public company requirements.

Mr. De La Torre is a practicing attorney with both a law degree and a degree in Business Administration.  He is fluent in both Spanish and English.   Mr. Johannes Lindorfer will remain a member of the Board of Directors.

The Company is pleased and excited about the closure of the acquisition which allows for the Company to more closely control its rights under the Option Agreement.  With the closing of the acquisition, Mid Americas Corp. is a wholly owned subsidiary of the Company.  This milestone was important in the Company perfecting its rights and negotiating funding to take the project forward.

Carlos De La Torre
President and Director

For more information please visit our web site at:
W: www.swingplaneventuresinc.com  

Or contact;
Investor relations: 1-800-253-1692

 

Safe Harbor Statement

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.

EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO THE COMPANY''S PLANS TO ENTER INTO A MINING OPTION AGREEMENT WITHIN THE NEXT FORTY-FIVE DAYS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS ON FORM 10-K AND FORM 10-Q, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY''S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY''S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.


THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR

 

 

SOURCE Swingplane Ventures, Inc.



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