November 01, 2001
Barra Grande Results
TRANS HEX INTERNATIONAL LTD. (CDNX: THI) regrets to advise that exploration activities at the Barra Grande alluvial diamond project in the Minais Gerais state of Brazil have failed to verify the presence of an economic diamond deposit. As at September 30, 2001 the Company had an effective 63.4% interest in the joint venture.
Results from the treatment of 2,400 bank cubic metres, representing an eight-metre thick intermediate gravel horizon at the northern sampling site were announced on October 26, 2001. A low level of diamond mineralization was indicated, with a total of 12 diamonds recovered at an average grade of 0.10 carats per 100 bank cubic metres. The average stone size was 0.20 carats per stone.
Treatment of the three metre thick basal gravel body continued through until a meeting of the joint venture technical committee held yesterday, by which time a total of 2,045 bank cubic metres of basal gravel had been processed. One diamond of 0.45 carats was recovered from these basal gravels. Trans Hex has given notice to its joint venture partner that it does not intend to fund further exploration at the Barra Grande project and will resign as operator upon completion of the current program.
The design and conduct of the Company's exploration programs is the responsibility of Mr. Peter Walker, a professional geologist registered with the South African Council for Natural Scientific Professions.
FOR FURTHER INFORMATION PLEASE CONTACT:
D.M. (Niel) Hoogenhout - Chairman and C.E.O. Tel +1.416.572-2033 Fax +1.416.572-4164 E-Mail firstname.lastname@example.org
Peter W.A. Walker - Vice President, Exploration Tel +27.21.937-2010 Fax +27.21.939-0711 E-Mail PeterW@transhex.co.za
Stephen Woodhead - Chief Financial Officer Tel +1.416.572-2033 Fax +1.416.572-4164 E-Mail email@example.com