Brazilian Gold's joint venture partner outlined an extensive geochemical and geophysical target (5 km) in 2010 that includes the VG1 anomaly.
The VG1 and other targets along this anomaly are currently the focus of an initial trenching and shallow drilling program.
Ownership
- Brazilian Gold has an option to earn a 51% interest in the project by making option payments and funding exploration activities over 2 years.
- The joint venture partner has the option to extend the option by an additional 19% to Brazilian Gold in return for Brazilian Gold funding 100% of the exploration expenditures over the next 2 year period.
Land
- Two exploration concessions for a total area of 12,536 Ha.
History
- 1960's to present, small scale garimpeiro exploitation at a number of garimpos on the project.
- 1980's, ProGeo completes stream and soil panning surveys.
- 1990's, RTZ reviewed the project and collected samples from a number of garimpos.
- 1990's, Placer Dome completes small exploration program and trenching.
- 2007, Majestic Diamonds completes rock and soil sampling, and geophysical surveys over a number of garimpos including Jair, Almir and Ze de Leite.
Description
- The property is underlain by granitic and felsic volcanic rocks with the potential to host gold mineralization in an epithermal to porphyry environment.
- The 2010 exploration program consisted of geological mapping, soil geochemistry (>4,000 samples), ground magnetic (12 km), induced polarization (12 km), trenching and drilling (approx. 1,700 m).
- This work outlined a gold in soil anomaly that is over 5 kilometres long and appears to connect the Jair, VG1 and ZL garimpos.
- The VG1 anomaly is over 2,000 metres long by up to 400 metres wide as defined by the 100 ppb soil contour. The anomaly is underlain by stockwork veined granitic and felsic volcanic rocks. Visible gold was observed in many of the trenches.
- Trenching of the east-west trending VG1 anomaly by an excavator and diamond drilling is currently in progress.
- The trenching and drilling program will test coincident gold in soil and geophysical anomalies.
- Additional targets include Plan Alto and Almir.
- Plan Alto is a northeast trending ridge that is underlain by strongly veined and silicified rock that appears to be dipping to the west; the ridge is over 2.5 kilometres long. A soil grid over this target has identified gold in soil anomalies along the flanks of the ridge and creeks adjacent to the ridge have been worked extensively for their alluvial gold. A northeast trending ridge underlain by similar rock has been mapped north of the airstrip on the northwest part of the property.
- At Plan Alto, the strongly silicified and veined rock has textures that are indicative of epithermal gold style mineralization.
- Almir is a historic garimpo in saprolite where gold was mined from both shallow and steeply dipping stockwork veins hosted in granitic rocks.
2011 Exploration Program
- Trenching and drilling results are expected in Q1-2011.
- Once these results have been interpreted and targets prioritized, an exploration program will be designed to test these targets.