The Ouro Mil project has a coincident gold in soil and geophysical anomaly associated with a coarse grained granitic stock that hosts auriferous quartz veins and stockworks. There are extensive garimpeiro workings in alluvial and saprolite overlying this anomaly and in the surrounding drainages.
Brazilian Gold and their joint venture partner plan to drill this anomaly in 2011.
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 Ha.
History
- 1990-2010, small scale garimpeiro activity.
- 2005-2010, previous operators completed geological mapping, soil and MMI sampling (850 samples) and airborne electromagnetic-magnetic surveys over the northern part of the property.
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 and stockwork zones associated with varying degrees of hydrothermal alteration with assemblages that include silica, sericite, chlorite and sulphides.
2011 Exploration Program
- Induced polarization survey (24 km) completed in Q4 2010 identified a resistivity low associated with the gold anomaly.
- Brazilian Gold and their joint venture partner plan a Phase One (1,000 m) drill program in Q2-Q3 once the final interpretation of the geophysical survey has been completed.