The Ouro Mil project has a coincident gold in soil and geophysical anomaly associated with a coarse grained granitic stock. There are extensive garimpeiro workings in alluvial and saprolite overlying this anomaly and in the surrounding drainages.
Ownership
- Brazilian Gold has an option to earn up to a 70% interest in the project by making staged cash payments and project expenditures over a four year period.
Land
- The Project comprises 82 mineral concessions (PLG’s) for a total area of approximately 13,444 hectares.
History
- 1990-2010, small scale garimpeiro activity.
- 2005-2009, previous operators completed geological mapping, soil and MMI sampling (850 samples) and airborne electromagnetic-magnetic surveys over the northern part of the property.
- 2010, Brazilian Gold and their joint venture partner complete regional stream sediment survey in southern part of property and IP survey (24 line km) over main geochemical anomaly.
Description
- The project covers a historic garimpo (artisanal mine) that is centered on a small hill where both the overlying lateritic soils and the streams (alluvial deposits) draining the hill have been processed for their gold. It is coincident with a coarse grained granitic stock, a mobile metal ion (MMI) anomaly, and a magnetic high.
- The gold MMI anomaly is approximately 1.4 kilometres long by 1 kilometre wide and is elongated in a west to northwest direction and is surrounded by base metal and uranium MMI anomalies.
- The coarse grained granite hosts quartz veins associated with varying degrees of hydrothermal alteration with assemblages that include silica, sericite, chlorite and sulphides.