Nov 26 2015
CRYSTAL EXPLORATION INC. (the "Company" and "Crystal") is pleased to announce closing of the diamond projects acquisition announced on May 6, 2015.
The Property(s) specific to diamonds are within the highly prospective northern portion of the Slave Structural Province of the Canadian Shield. Historical work over the Prospecting Permits contain:
(1) diamond bearing kimberlites and kimberlite dykes;
(2) unexplained kimberlite indicator mineral ("KIM") trains identified in glacial till;
(3) unsourced kimberlite float trains; and
(4) unexplained geophysical targets in the vicinity of the heads of known KIM trains.
The Properties contain the Muskox, Rush and James River diamond bearing kimberlites. Most noteworthy within the properties is the Muskox kimberlite which was previously discovered in 1996 by DeBeers Canada and explored through joint venture with Tahera Corp. to 2006. The Muskox kimberlite has two phases and is known to yield diamond grades in the magmatic phase of 0.53 carats per tonne and diamond grades in the pyroclastic phase of 0.35 carats per tonne from mini-bulk samples weighing 865 and 63 dry tonnes, respectively (2006). The largest three diamonds recovered from Muskox were a broken 2.73 carat white octahedron, a broken 2.67 carat brown octahedron and a 1.61 carat white octahedron.
Crystal Exploration Project Locations: http://media3.marketwire.com/docs/CEI1125.jpg
President and CEO, Jim Greig commented, "Crystal is extremely excited to work and develop these projects where tens of millions of dollars of exceptional geological work was performed in the past. Rough diamond prices have increased near 200% since the historical exploration programs performed during the 1990's and 2000's. In addition to revisiting and understanding the potential at the Muskox diamond bearing pipe, the Crystal team is examining over 113 anomalies where De Beers Canada originally reported 15 high priority drill targets."
About Crystal Exploration Inc.
Crystal is a Canadian mineral exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol. the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim Greig, President and Chief Executive Officer
Source: http://www.crystalexploration.com/