TORONTO, May 11 /CNW/ - BRC Diamond Corporation (the "Company" or "BRC") (TSX-V: "BRC") is pleased to provide an update on its diamond exploration activities at its Lubao project in Kasai-Orientale Province in the Democratic Republic of the Congo (the "DRC").
Lubao Project
Exploration in respect of the Lubao Prospecting Research Permits ("PRs") has to date consisted primarily of stream sediment sampling designed to locate concentrations of kimberlite indicator minerals. The Company has now taken v 712 samples from the Lubao PRs and, from these, 513 concentrate samples have been submitted to the MSA Geoservices laboratory (which is independent of the Company) in Johannesburg, South Africa, where kimberlitic indicator mineral sorting, surface texture description and indicator mineral analysis are being performed. A further 156 samples will be submitted shortly. All samples have been concentrated using two Armstrong jigs.
As of May 10, 2006, UTS Geophysics of Australia had completed 64% of the planned 11,500 line kilometers of airborne magnetometer survey at the Lubao property. Data from the stream-sediment sampling program and the magnetometer survey will be integrated to facilitate identification of the most prospective kimberlite targets for drill testing in the second half of 2006.
The Company's Lubao property consists of 14 PRs covering an area of approximately 5,025 square kilometers. These PRs, together with other BRC properties, lie within a kimberlite emplacement corridor which extends from the prolific Angolan diamond fields of Lunda Norte Province into the Kasai Provinces of the DRC. The Congolese portion of this corridor, which is only beginning to be explored using modern techniques, is considered to be one of the most prospective kimberlite exploration zones in Africa.
Updates on the Company's Kwango River and Tshikapa PRs projects will be available shortly.
Qualified Person
----------------
L. Joseph Bardswich (P. Eng.), the Company's President and Chief Executive Officer, is the "qualified person" (as such term is defined in National Instrument 43-101) responsible for the preparation of the technical information in this release.
BRC is a Canadian-based diamond exploration company active principally in the DRC. Led by a management team with extensive experience in the DRC, the Company is active in some of the most prospective diamond regions of the country. Banro Corporation, the Company's largest shareholder with approximately a 30% interest in BRC, is a mineral exploration company focused on the DRC.
This press release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements relating to the Company's plans with respect to the exploration of its DRC properties. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Factors that could cause such differences include political developments in the DRC, changes in equity markets, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information: Arnold T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221
