EDITOR: | November 8th, 2016

Green Swan Prepares for Diamond Drill Program

| November 08, 2016 | No Comments
image_pdfimage_print

November 8, 2016 (Source) — Green Swan Capital Corp. (TSXV: GSW) (“Green Swan”) is on schedule to commence a 300 meter diamond drill program in mid-November on its cobalt / gold property (the “Property”) in mining-supportive Sudbury, Ontario. In preparation for drilling, Green Swan collected a final round of surface grab samples (the “Samples”) from the south end of the property, near Ed’s Watering Hole.

Readers are reminded that grab samples vary in size, are selective by nature and may not accurately represent all or part of the rest of the Property.

Management is very pleased with the assay results on the Samples, and in particular with the continued cobalt presence and the multiple strong gold values.

Selected assay results for the cobalt and gold values are reported below.

Sample Number Au (g/t) Co (%)
60139 7.45 0.157
60142 1.46 0.057
60145 5.02 1.38
60147 1.06 0.034
60203 19.2 0.513
60204 44.6 0.117
60207 3.87 0.015
60210 4.15 0.002

The complete assay results will be available on Green Swan’s website.

As Green Swan reported on Sept 26th, 2016, management theorizes that mineralized quartz veins up to 1.2 metres wide occur over a 10 to 20 metre wide pinch and swell zone extending discontinuously up to 50 metres from Ed’s Watering Hole northward, within the contact zone between the Nipissing Gabbro to the west, and Sudbury Breccia and metasediments to the east. Numerous cross faults and shearing appear to offset the various quartz veins and rock types. Patchy skarn alteration occurs along this contact zone.

Management believes the recent results from the Samples continue to support this theory, and as a result, the diamond drill program will focus exclusively around Ed’s Watering Hole.

A map showing the location of the Property, its close proximity to Glencore plc’s smelter and key data points can be seen at Green Swan’s website at http://www.greenswancapital.com/map-of-copper-prince.html. The map does not show Green Swan’s recently acquired claims in the area. Pictures of some of the samples can also be found on the website.

The Samples were delivered to AGAT Laboratories Ltd. who prepared and analysed the samples using multi-elemental geochemical packages. AGAT used the Sodium Peroxide Fusion method for a more vigorous means of decomposition to completely break-down samples and difficult-to-dissolve minerals into a molten flux. AGAT then used an Inductively Coupled Plasma – Optical Emission Spectroscopy (ICP-OES) finish to confirm a baseline detection of base and trace metal values. Sulfur was determined using the LECO (Combustion IR) method. The precious metals (Pt, Pd, and Au) used a 30 g sample for Fire Assay with ICP-OES finish. Gold was further accurately determined by Gravimetric methods. AGAT also used a series of internal blanks and standards to confirm accuracy and repeatability of results.

Joerg Kleinboeck, P.Geo., Green Swan’s Consulting Geologist, a Qualified Person (Q.P.) under National Instrument 43-101, has reviewed and approved the scientific and technical data presented in this press release. The Samples were collected by a former consulting geologist who has not fully communicated his sampling methodology to Mr. Kleinboeck or to Green Swan, and as a result Green Swan has not been able to determine what standards if any were introduced in the testing process. The former consulting geologist verbally advised management soon after taking the Samples that the Samples had been taken from the south end of the Property area proximate to Ed’s Watering Hole, but has not yet so confirmed in writing and has not confirmed the precise locations from where the Samples were taken. Mr. Kleinboeck has, subject to the exceptions noted above, supervised the work programs on the Property, visited the Property on several occasions, examined historic third-party data, reviewed results with management, reviewed AGAT Laboratories’ analytical and quality control results, and communicated with AGAT for further confirmation.

About Green Swan Capital Corp.

Green Swan Capital Corp. is a Canadian mining company with a proven leadership team, targeting cobalt in Ontario. Green Swan is well-poised to deliver real value to its shareholders.

Forward Looking Statements

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan’s recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Directors
Green Swan Capital Corp.

“Peter M. Clausi”

Peter M. Clausi
President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


InvestorIntel

Editor:

InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.


Copyright © 2017 InvestorIntel Corp. All rights reserved. More & Disclaimer »


Leave a Reply

Your email address will not be published. Required fields are marked *