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Diamante Provides Update On Mineracao Batovi Diamond Project
Diamante Provides Update On Mineracao Batovi Diamond Project.
About this update from My City Builders, Inc.
[{"type":"text","content":"\n\n\n\nDiamante Provides Update On Mineracao Batovi Diamond Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDiamante Provides Update On Mineracao Batovi Diamond Project\n- Company to Contribute $1 Million to Joint Venture; Preliminary Exploration Work to Begin Shortly Thereafter With Geologist Charles Fipke -\nPR Newswire\nKELOWNA, British Columbia, June 5, 2015\n\n\n\nKELOWNA, British Columbia, June 5, 2015 /PRNewswire/ -- Diamante Minerals, Inc. (OTCBB: DIMN), a natural resources company focused on the diamond sector, today provided an update on its previously announced Mineracao Batovi Diamond project.\n\nDiamante will provide a $1 million cash investment directly to a joint venture partnership with mining and exploration company Mineracao Batovi Ltda., which is majority-owned by legendary geologist Charles Fipke.  \n\nIn advance of Diamante's investment, Mineracao Batovi was required to undergo an audit, which has now been completed. Legal counsel in Brazil is presently working to effect a transfer of ownership in Mineracao Batovi, which is expected later this year, following which time, Diamante will own 20% of the joint venture. Fipke already has invested approximately $4 million specifically in the project.\n\nThe Company said the partnership plans to develop, finance and operate a diamond exploration project located about 220 kilometers north of Paranatinga in Mato Grosso, Brazil. Diamante and Mineracao Batovi both believe this region has demonstrated high prospectivity for diamonds. The area of claims is 271,044 acres.\n\n\"We are excited about the potential of this long-term project and particularly pleased to be working with Chuck Fipke, who is one of the industry's most successful and highly respected geologists, along with the talented team at Mineracao Batovi,\" said Chad Ulansky, president and chief executive officer of Diamante. \"The airborne survey of the claims area is anticipated to begin soon after the cash transfer is consummated,\" Ulansky added.\n\nFipke is a founder of Canada's first diamond mine, Ekati, which between 1998 and 2011,...