DIAMONDS — Black Swan drops Tejucana option

After completing due diligence, Black Swan Gold Mines (BSW-T) has dropped an option to buy the Tejucana operations of a Brazilian company with diamond mining interests along the Jequitinhonha River in northeast Minas Gerais state.

Though the option has expired, the company is continuing negotiations with the owners in hopes of exploring the project further. Black Swan examined the Brazilian properties with a view to begining production using selective mining techniques and low-cost dredging equipment. However, the due diligence program showed that more drilling would be required to satisfy that objective.