Brazilian Gold Corporation (TSXV: BGC) is pleased to provide an
update of its ongoing exploration program at the Patoa, Tucunare,
Colonia North, Colonia Central and Colonia South targets, which are
located within the Surubim project area. The Surubim project has
excellent potential to host significant surface oxide gold
mineralization as well as related large tonnage, low grade
disseminated and stockwork primary mineralization. The primary
mineralization is similar in style to the Company’s flagship São
Jorge project located to the northeast.
Highlights
- Oxide Mineralization:
- Oxide mineralization up to 60 m thick
as defined by diamond drilling (48 holes in 7,968 m).
- Auger drilling (124 holes) has outlined
oxide mineralization with an average grade of 0.75 g/t gold to an
average depth of 8.1 m below surface over an area of +200,000 m2 at
two targets (Patoa and Tucunare).
- Colonia is partially mined or overlain
by waste dumps from artisanal miners (garimpeiros) and will further
add to the known oxide mineralization when effectively drilled by a
reverse circulation or a diamond drill rig.
- Less than 20% of the entire oxide
thickness at Patoa and Tucunare targets tested to date due to the
depth limitation of the auger drill.
- Several anomalous auger holes outside
of the known targets require follow-up drilling to determine the
extents of the oxide mineralization and test for underlying primary
mineralization.
- Less than 15% of the 12 km2
gold-in-soil anomaly tested by auger drilling to date.
- Potential to expand the limits of oxide
mineralization laterally and to depth as well as identify new areas
of mineralization with reverse circulation drill program.
- Oxide mineralization amenable to low
cost mining and processing.
- Primary Mineralization:
- Diamond drilling has intersected
multiple mineralized lenses up to 40 m thick at Patoa, Tucunare and
Colonia with cumulative thicknesses up to 60 m.
- Diamond drill intersections (30 holes)
from Patoa, Tucunare and Colonia targets average 1.03 g/t gold over
26.1 m at an approximate 0.3 g/t cut-off.
- Primary mineralization is open at depth
and along strike.
- High potential to identify primary gold
mineralization along major northwest and east-west trending
lineaments that have been the focus of garimpeiro mining in the
past, but have not seen drilling to date.
- High potential to identify new areas of
primary mineralization as drill programs step out from existing
targets.
- Metallurgy:
- Preliminary metallurgical testwork
undertaken by Brazilian Gold indicates low-cost gravity
concentration may be a suitable processing method to recover a
significant amount of the oxide gold.
Ian Stalker, CEO of Brazilian Gold commented, “As we have
incorporated the new drill results into our database and
assimilated historic geological work completed on the project, our
understanding of the project has increased substantially from a
year ago. This work has identified large areas of surface oxide
mineralization that could lend itself to low-cost, highly
productive open pit mining with the potential for the bulk of the
gold to be recovered by a simplistic gravity recovery plant.
Primary mineralization has been intersected in a number of
east-west structures below the oxide mineralization and is thought
to be the source of the oxide mineralization. The primary
mineralization has only been drill tested to a depth of 150 m to
date and has the potential to be a substantial resource in
itself.
Excitingly, most of the mineralization identified to date
remains open for further exploration and resource expansion.”
Project Update
Exploration programs completed on the Patoa, Tucunare, Colonia
targets (Surubim project) includes soil geochemistry, geophysics,
auger drilling (511 holes in 5,863 m), and diamond drilling (48
holes in 7,968 m).
Soil sampling has outlined a large gold-in-soil anomaly that is
over 12 km2 in area as defined by the 25 ppb gold contour. The
anomaly is bound to the east by a major northwest trending
lineament and to the north and south by east-west lineaments along
which artisanal workers (garimpeiros) have mined alluvial and
lateritic gold. Similar east-west trending lineaments host the gold
mineralization at Patoa, Tucunare, Colonia North, Colonia Central
and Colonia South as well as other targets on the property and are
interpreted to be dilational fracture zones associated with the
northwest trending shear zone. Surface disturbances (open pits and
waste piles) by garimpeiro mining has prevented soil sampling and
auger drilling along the larger east-west fractures zones as well
as the northwest trending shear zone, however they have a high
potential to host gold mineralization.
Auger drilling by the previous operator (Solitario Exploration
and Royalty Corp.) and more recent work by Brazilian Gold tested a
number of soil and geophysical anomalies including the Patoa,
Tucunare, Colonia North, Colonia Central, and Colonia South, as
well as other nearby targets. Diamond drilling of these anomalies
has intersected primary mineralization beneath the widespread
surface oxide gold mineralization identified in the auger program.
Auger drilling has only tested the top 20% of the oxide profile. A
drill with the capacity to test the entire laterite profile is
required to determine the full potential of the oxide
mineralization.
Patoa Target
Auger drilling (113 holes) completed along north-south sections
spaced approximately 50 m apart and across the surface projection
of the Patoa mineralization tested the top several metres of the
oxide (laterite) profile that averages 45 m in thickness (Table 1).
Sixty-seven of the 113 auger holes had a composite grade of greater
than 0.1 g/t gold and the average grade and thickness of these
composites was 0.30 g/t gold over 8.76 m. It is important to note
that only the top 20% of the oxide (laterite) was tested by the
auger drilling due to the depth limitation of the drill. The
lateral extent of the oxide mineralization at Patoa is unknown,
however drilling to date has outlined oxide mineralization over an
area of 180,000 m2.
Table 1: Patoa target: selected auger
drill intersections*.
Hole ID Target From (m)
To (m) Length (m) Gold (g/t)
SBA-104 Patoa 0.00 14.00
14.00 0.553 SBA-130 Patoa
0.00 10.00
10.00
1.276 SBA-139 Patoa
0.00 12.00 12.00
0.473 SBA-223 Patoa 0.00
12.00 12.00 0.423 SBA-228
Patoa 0.00 10.00 10.00
0.513 SBA-31 Patoa 4.00
17.40 13.40 0.443 SBB-30
Patoa 0.00 16.00
16.00 1.620 SBC-05
Patoa 0.00 14.00 14.00
0.464 SBD-02 Patoa 0.00
14.00 14.00 0.433 SBD-03
Patoa 0.00 18.00
18.00 0.698 SBD-102 Patoa
2.00 6.00 4.00
0.848 SBD-103 Patoa 0.00
6.00 6.00 0.397 SBD-98
Patoa 0.00 12.00 12.00
0.456
*Auger drill results from Solitario Exploration and Royalty
Corp.’s historic programs were not verified by Brazilian Gold
against the original assay certificates or reviewed for QA-QC, and
while Brazilian Gold believe the samples were collected and
analyzed to industry standards, the reader is cautioned that they
should not rely on these results.
Diamond drilling (19 holes) completed on north-south sections
spaced approximately 100 m apart intersected primary gold
mineralization in several parallel lenses (3) over a strike length
of 1,000 m. The mineralized lenses are up to 40 m thick, separated
by 15 to 30 m of altered granite and have been intersected up to a
depth of 150 m below surface. The mineralized zone strikes
east-west and has a vertical dip, and is coincident with a magnetic
low. Fourteen of the 19 diamond drill holes had composite intervals
that grade greater than 0.3 g/t gold and the average grade and
thickness of these composites was 0.89 g/t gold over 25.65 m; the
mineralization is open along strike and at depth.
Tucunare Target
Auger drilling (86 holes) completed along north-south sections
spaced approximately 50 m apart and across the surface projection
of the Tucunare mineralization tested the top several metres of the
oxide (laterite) profile that averages 31 m in thickness (Table 2).
Fifty-seven of the 86 auger holes had a composite grade of greater
than 0.1 g/t gold and the average grade and thickness of these
composites was 1.338 g/t gold over 7.18 m with several intervals
grading several grams per tonne gold. Similar to the Patoa target,
the lateral extent of the oxide mineralization at Tucunare South is
unknown, however drilling to date has outlined oxide mineralization
over an area of 20,000 m2.
Table 2: Tucunare target: selected auger
drill intersections**.
Hole ID Target
From (m) To (m) Length
(m) Gold (g/t) SBA-119
Tucunare South 2.00 12.00
8.00 0.566 SBA-186 Tucunare South
0.00 7.00 14.00
0.708 SBD-117 Tucunare South
0.00 10.00 10.00 0.569
SBD-119 Tucunare South 0.00
6.00
6.00 0.966
SBD-130 Tucunare South 0.00
8.00
8.00 1.267
SBD-131 Tucunare South 0.00
10.00
10.00 26.031
SBD-29 Tucunare South 0.00
11.00
11.00 0.823
SBD-30 Tucunare South 0.00
12.00
12.00 1.455
SBD-33 Tucunare South 0.00
10.00 10.00 0.409 SBD-39
Tucunare South 0.00 4.00
4.00 0.636 SBD-42 Tucunare South
0.00 8.90
8.90
5.967 SBD-43 Tucunare South
0.00 4.00 4.00
0.555 SBD-45 Tucunare South 0.00
14.00
14.00
0.512 SBD-47 Tucunare South 0.00
9.40
9.40
2.081 SBD-48 Tucunare South 0.00
16.00
6.00
0.983 SBD-49 Tucunare South 0.00
11.00
11.00
5.029 SBD-50 Tucunare South 0.00
14.00
14.00
0.901 SBD-56 Tucunare South 0.00
5.00 5.00 0.460
**Auger drill results from Solitario Exploration and Royalty
Corp.’s historic programs were not verified by Brazilian Gold
against the original assay certificates or reviewed for QA-QC, and
while Brazilian Gold believe the samples were collected and
analyzed to industry standards, the reader is cautioned that they
should not rely on these results.
Diamond drilling (8 holes) completed on north-south sections
over a 500 m strike length intersected primary gold mineralization
in two parallel lenses; five of the holes are confined to the
eastern 100 m of the anomaly. The mineralized lenses are up to 15 m
thick, separated by 15 to 20 m of altered granite and have been
intersected up to a depth of 150 m below surface. Four of the 8
diamond drill holes had composite intervals that graded greater
than 0.3 g/t gold and the average grade and thickness of these
composites was 0.98 g/t gold over 11.54 m; the mineralization is
open along strike to the east and at depth.
Colonia North Target
Limited auger drilling (27 holes) was completed on the Colonia
North target because of surface disturbance (open pits and waste
piles) cause by garimpeiro mining; auger drilling was mostly
completed north of the surface projection of the mineralization.
The auger holes were completed along north-south sections spaced
approximately 100 m apart and tested the top several metres of the
oxide (laterite) profile that averages 27 m in thickness. Seven of
the 27 auger holes had a composite grade of greater than 0.1 g/t
gold and the average grade and thickness of these composites was
0.25 g/t gold over 4.57 m. Similar to the Patoa and Tucunare
targets, only the top 20% of the oxide (laterite) was tested by the
auger drilling due to the depth limitation of the drill.
Diamond drilling (8 holes) completed on north-south sections
over a 350 m strike length intersected primary gold mineralization
in one lens. The mineralized lens is up to 25 m thick and has been
drilled to a depth of 170 m; the mineralized lens strikes east-west
and dips steeply south. Seven of the 8 diamond drill holes had
composite intervals that graded greater than 0.3 g/t gold and the
average grade of these composites was 1.38 g/t gold over 14.24 m;
the mineralization is open along strike and at depth.
Colonia Central Target
Auger drilling was not completed in this area because of the
surface disturbances (open pits and waste piles) caused by
garimpeiro mining. One diamond drill hole was completed to test a
weak chargeability anomaly; the hole intersected 1.80 g/t gold over
6.84 m.
Colonia South Target
Limited auger drilling (29 holes) was completed on the Colonia
target and most of this was located west and south of the surface
projection of the primary mineralization identified in the diamond
drill holes because of surface disturbances (open pits and waste
piles) caused by garimpeiro mining. The auger holes were completed
along north-south sections spaced 50 to 100 m apart and tested the
top several metres of the oxide (laterite) profile that averages 70
m in thickness. Eight of the 29 auger holes had a composite grade
of greater than 0.1 g/t gold and the average grade of these
composites was 0.21 g/t gold over 5.50 m. Similar to the Patoa and
Tucunare targets, only the top 20% of the oxide (laterite) was
tested by auger drilling due to the depth limitation of the
drill.
Diamond drilling (4 holes) completed on north-south sections
over a 200 m strike length intersected primary gold mineralization
in two parallel lenses. The mineralized lenses are up to 40 m
thick, separated by 40 to 80 m of altered granite and have been
intersected up to a depth of 200 m below surface. All 4 of the
diamond drill holes had composite intervals that graded greater
than 0.3 g/t gold and the average grade of these composites was
1.20 g/t gold over 22.00 m. The drilling targeted a weak
chargeability anomaly that trends east-west and is over 800 m
long.
Laboratory Procedures
Auger and diamond drilling completed by Brazilian Gold is mostly
sampled at 3 m or smaller intervals. Auger samples are coned and
quartered, and a split is dispatched to Acme Laboratories Ltd.’s
sample preparation facility in Itaituba, Brazil, where the sample
is dried, crushed, split and pulverized to 200 mesh; the remaining
sample is archived. For diamond drill holes, the core is cut in
half using a diamond saw and one half of the sample is archived and
the other half is dispatched to Acme Analytical Laboratories Ltd.’s
sample preparation facility in Itaituba, Brazil, where the sample
is crushed, split and pulverized to 200 mesh. The auger and diamond
drill pulps are shipped to Santiago, Chile or Vancouver, Canada for
gold fire assay. Acme Analytical Laboratories Ltd. is an
internationally certified ISO 9001 laboratory.
Auger and diamond drill assay results from Solitario Exploration
and Royalty Corp.’s historic exploration programs were not verified
by Brazilian Gold against the original assay certificates or
reviewed for QA-QC, and while Brazilian Gold believes the samples
were collected and analyzed to industry standards, the reader is
cautioned that they should not rely on these results.
Garnet Dawson, M.Sc., P.Geo. (British Columbia), Vice President,
Exploration for the Company and a Qualified Person, as defined by
National Instrument 43-101, has reviewed and approved the technical
disclosure contained in this News Release.
About Brazilian Gold Corporation
Brazilian Gold has a resource inventory of 715,000 ounces of
gold grading 1.54 g/t gold in the indicated category and 1,921,000
ounces of gold grading 1.00 g/t gold in the inferred category at a
0.3 g/t cut-off that is hosted in three deposits (Table 3).
Table 3: Brazilian Gold 2013 global
resource at a 0.3 g/t gold cut-off.
Project Deposit
Classification Cut-off Grade (g/t)
Tonnage Grade (g/t)
Ounces São Jorge São
Jorge Indicated 0.3
14,420,000 1.54 715,000
Inferred 0.3
28,190,000 1.14 1,035,000
Surubim Jau Inferred
0.3 19,440,000 0.81
503,000
Boa Vista
VG1 Inferred 0.3
12,130,000 0.98 383,000
All deposits Indicated
14,420,000
1.54 715,000
All deposits Inferred
59,760,000 1.00
1,921,000
Brazilian Gold is a Canadian-based public company with a focus
on the acquisition, exploration and development of mineral
properties in northern Brazil. The Company has title to one of the
largest land packages (+4,000 km2) in the Tapajós and adjacent Alta
Floresta gold provinces. The land package contains green fields to
more advance stage projects including the Company’s flagship São
Jorge project. Rapid improvements to regional infrastructure
continue to provide underlying support to Brazilian Gold’s
activities in northern Brazil.
For further information:
Brazilian Gold CorporationIan (John) Stalker, CEO and
DirectorJoanne Yan, President and DirectorTel: +1 604 602-8188
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include
without limitation the completion of planned expenditures, the
ability to complete exploration programs on schedule and the
success of exploration programs.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or the
accuracy of this news release.
To view this press release as a webpage, please click on the
following
link:http://www.usetdas.com/pr/brazilliangoldjan282013.htm
Brazilian Gold Corporation (TSXV:BGC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brazilian Gold Corporation (TSXV:BGC)
Historical Stock Chart
From Jul 2023 to Jul 2024