Swingplane Ventures, Inc. Provides Overview
SANTIAGO, Chile, Feb. 27, 2013
SANTIAGO, Chile, Feb. 27, 2013 /PRNewswire/ --SwingplaneVentures, Inc.
(OTC-BB: SWVI) (the "Company" or "Swingplane") is pleased toprovide the
following overviewpertaining to the Algarrobo property.
The Company'sAlgarroboIron oxide-Copper-Gold (IOCG) property (the
"Property")hasmany similar characteristicsto theMantoverdewhich contains
a reported Measured and Indicated 122.40 MT at 0.41% Cu, Proven and Probable
of 88.20 Mt at 0.41% Cu and Inferred of 2.40 Mt at 0.32% Cu with an estimated
value of US $4.799 billion
Sulphideore in theMantoverdeDistrict is reported to be 144 MT at 0.66% Cu
(Measured and Indicated) and 44.30 MT at 0.65% Cu (Inferred) having an
estimated value of US $957.71
The total value represented by the orebodies identified in
theMantoverdeDistrict is US $5.757 billion.We believethat the economic
values of theAlgarroboare also comparable if not greater from sampling
tested demonstrating higher copper content than theMantoverdedistrict.We
are looking forward tothe completion of the Due-Diligence report from AMEC to
confirm the potential of the property.We encourage you to visit our homepage
at http://www.swingplaneventuresinc.com/ where the property can be viewed via
interactive satellite image.
The image is updated everymonthand is intended to allow investors to
evaluate the geographical setting of the Algarrobo Property and the extent of
the existing workings as evidenced at surface.The image has a resolution of
approximately1m and is well suited fordisplaying the road network, workings,
available infrastructure (i.e. camp) and the progression of work through
time. Controls located in the upper left hand corner of the image allow the
user to pan the image, as well as zooming in (+) or out (-). By clicking and
holding the left mouse button, the image can be actively panned in the
A large green arrow is evident on the image for reference, located within the
southwest margin of the Algarrobo Massif (generally characterized by the light
to medium reddishbrown color), near the edge ofthe sand cover (dirty tan
color). By zooming out slightly, the Algarrobo Massif can be seen to be
exposed within the continental sand dunes to the west (left) and south
The point of the green arrow is located on the Manto Ossa vein system, just
within competitors' tenures. A series of workings are evident, extending east
and west from the arrow. The vein is interpreted to extend east, below sand
cover, onto the Company's tenures.Two sets of previous exploratory workings
are evident to the east, in the sand, and are proposed sites for additional
work by the Company to expose the well mineralized Manto Ossa vein.
To the south of the green arrow, along the road, is theVetaGrueaEast Drift,
located where the road takes a sharp turn to the west within a prominent beige
colored band. A series of surface workings extend west to a dark colored area
to the west. The surface workings were developed along theVetaGruesavein,
with the dark colored area representing a platform of "waste" rock from
theVetaGruesaCengtreDrift. A series of dark pile are evident on the
platform, representing well mineralized material stockpiled for shipment and
sale to ENAMI. A short curved access to the drift is evident north of the
Slightly farther to the west is the Company's old camp, which has since been
re-located, with the "Exploration Drift slightly farther west ofthecamp.
Another dark area is evident, representing a platform oflow grade "waste"
rock. The drift itself is plainly evident immediately northwest of the
platform. A number of near surface workings are evident within the switchback
to the west to further expose theVetaGruesa.
By following the road farther north, another dark area is evident along the
road, representing work to expose and develop the FalseEstacaDrift. A
small, low grade "waste" pile is evident on the west side of the road, with
the drift evident on the east side. A small platform has been built on the
curve of the road for sorting well mineralized material produced from the
drift. Several piles of hand sorted material are evident in the image,
stockpiled for shipment and sale to ENAMI. Older, surface workings along
theEstacavein are evident to the east along the trend of the vein. The
drift is located at the contact between bedrock exposures of the Algarrobo
Massif and sandy overburden of the dunes.
Following the road slightlyfarther north, work undertaken to expose
theDescubridoraI vein is plainly evident, together with initial work to
expose up to three additional, well mineralized veins. Slightly south of a
sharp turn in the road, initial work by an excavator has exposed a vein on the
east side of the road. A series of surface workings are evident to the east,
with sand cover to the west.Workexposed a cross-cutting dyke where the vein
was expected, however, the vein is evident at the top of the exposure,
immediately east of the vein.
Another mineralized vein is exposed slightly farther north, at the sharp turn
to the west, proposed for subsequent development in to a drift. Three
possible drifts have been proposed immediately north of the sharp turn, one to
the east and a second to the west along the same vein, an interpreted splay of
A third drift is proposed to the south along a well mineralized vein oriented
at a high angle to, and cross-cutting, the Major Veins. Slightly farther
west, on the south side of the road, theDescubridoraIvein isevident,
exposed within the sand overburden. Samples from this initial exposure are
characterized by Brochantite, and have returned high grade copper analyses to
46.58% (see News Release dated January 31, 2013). TheDescubridoraII vein
was subsequently exposed at a relatively small dark spot evident approximately
40 m to the southwest of theDescubridoraI Drift.
The workings comprising the Major Veins, together with numerous smaller, well
mineralizedsubsidiary, secondary and/or en echelon veins, are evident to the
east, within the Algarrobo Massif, on either side of the road system.
Currently, material shipped from the Property for sale to ENAMI at Copiapo
must use this road system to travel up and over the Algarrobo Massif to the
hard surface road to the north (C-323 on the image).
Work to finish gravelling the road to the south-southwest of the Company's
drifts has been proposed to facilitate transport to the hard surface road
along the southern margin of the Property (Camina Japanese, C-351 in the
Work associated withCompaniaMineradelPacíficoS.A's pipeline
andpowerlineto their Cerro Negro Norte mine is evident immediately north of
theCaminaJapanese (C-351) on the Company's tenures.
Carlos De la Torre
President and Director
For more information please visit our web site at:
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
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 ANOFFER
TO BUY NORSHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN
WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION
OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE Swingplane Ventures, Inc.
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