Brazilian Gold Completes Phase Two Drill Program and Continues to Intersect Quality Gold Mineralization on the Batistao Project, Northern Brazil
26.11.2012 | FSCwire
Vancouver, British Columbia CANADA, November 26, 2012 /FSC/ - Brazilian Gold Corporation (BGC - TSX Venture), is pleased to announce drill results from the Phase Two drill program on its wholly owned Batistao project located approximately 30 km southwest of the town of Peixoto de Azevedo in Brazil's northern Mato Grosso state. This region was the focus of a gold rush in the 1980's where 5 million ounces of unofficial production, mostly from shallow alluvial and laterite workings, is reported to have taken place. The region benefits from excellent infrastructure including paved road access, electrical power and the availability of a local skilled workforce.Highlights
* BTD-005-12 intersected 11.8 m grading 0.92 g/t gold.
* BTD-007-12 intersected 33.4 m grading 0.7 g/t gold including 11.4 m grading 1.8 g/t gold.
* BTD-002-12 intersected 38.0 m grading 0.7 g/t gold including 17.6 m grading 0.9 g/t gold.
* BTD-003-12 intersected 43.0 m grading 1.1 g/t gold including 20.0 m grading 2.0 g/t gold.
* Drilling has tested 600 m of a 2,000 m long gold-in-soil anomaly on 100 m sections and has intersected a mineralized zone that is approximately 30 m in thickness.
* BGC drilling has extended the depth of mineralization from surface to a depth of 135 m.
* Historic drill hole BTC-021 collared 1,000 m west of BGC's drilling intersected 0.76 g/t gold over its entire length (50 m) and ended in mineralization indicating the potential for the gold-in-soil anomaly to be mineralized at depth over its entire length of 2,000 m.
* Gold-in-soil anomaly is open to the west and east.
Table 1: Batistao 2012 Phase One and Two drill intersections.
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Hole ID Section From To Interval* Gold
(m) (m) g/t
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Phase One Program
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BTD-001-12 4000E 125.15 180.00 54.85 0.41
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includes 125.15 151.00 25.85 0.58
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BTD-002-12 4200E 146.00 184.00 38.00 0.68
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includes 146.00 163.64 17.64 0.86
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BTD-003-12 3800E 69.00 112.00 43.00 1.10
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includes 79.00 99.00 20.00 2.02
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BTD-004-12 4000E 1.50 33.00 31.50 0.45
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includes 4.50 14.00 9.50 0.92
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Phase Two Program
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BTD-005-12 4100E 16.00 19.44 3.44 1.01
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BTD-005-12 4100E 44.32 62.32 18.00 0.38
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BTD-005-12 4100E 89.70 101.51 11.81 0.92
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BTD-006-12 4100E 0.00 6.90 6.90 0.41
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BTD-006-12 4100E 52.16 54.16 2.00 1.05
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BTD-006-12 4100E 84.00 140.00 54.00 0.28
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BTD-007-12 3900E 0.00 33.37 33.37 0.73
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including 3900E 0.00 11.37 11.37 1.80
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BTD-008-12 3900E 0.00 9.62 9.62 0.36
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BTD-008-12 3900E 46.50 70.50 24.00 0.41
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BTD-009-12 3700E 108.26 112.97 4.71 1.68
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BTD-010-12 3700E 127.00 131.00 4.00 0.88
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BTD-011-12 3600E no significant assays
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*Interval refers to drill hole intercepts.
The Phase One and Two diamond drill programs (1,655 m in 11 holes) tested below and between historic reverse circulation (RC) drill holes that were drilled on 200 m sections. The drill holes (BTD-001-12 to BTD-011-12) were drilled to the north or south at -55 degrees or -60 degrees on sections spaced 100 m apart. The eleven holes intersected similar tenor and widths of mineralization as historic RC holes from surface to 135 m vertically below surface over a strike length of 600 m.
The Batistao target was previously explored by a major Australian mining company from 1992 to 1995. The gold mineralization was discovered during a regional stream sediment program and was delineated by soil sampling, geophysics, auger drilling (109 holes in 762 m) and RC drill holes (24 holes in 1,287 m). The program outlined a west to northwest trending gold-in-soil anomaly that is over 2,000 m in length. Short RC holes tested 500 m of this strike length to a depth of approximately 50 m; the mineralized zone is up to 30 m thick and is open in all directions. Gold mineralization is associated with sericite-silica-sulphide altered granitic rocks; sulphide minerals include pyrite (<5%) and minor chalcopyrite. The concession was allowed to expire because of depressed gold prices at the time. Two concessions covering the Batistao target (199 km2) were subsequently acquired by Brazilian Gold.
Ian Stalker, CEO of Brazilian Gold, commented "This latest set of results from Batistao confirms an exceptional shallow open pitable gold target. The anomaly remains open along strike and at depth, and the fact that we have only drilled 600 m of the 2 km target to a depth of 135 m highlights the potential. It is equally important to note that this project like all BGC projects in Brazil benefits from a rapidly developing infrastructure base.
NI43-101 compliant resources identified on this target will further enhance our global gold inventory-all available via simple cost effective surface mining techniques. As we push onwards with developing our Sao Jorge project, it's important to note the success the company has had over the last 20 months delivering a 114% increase in its global resource inventory with an equally impressive 43% increase within the indicated category.
As 2012 comes to an end, we are well placed for further gold inventory gains and moving quickly with the development of our Sao Jorge project."
Laboratory Procedures
Drill core in this program is sampled at 3 m or smaller intervals using a diamond saw. One half of the sample is archived and the other half is dispatched to Acme Analytical Laboratories Ltd.'s sample preparation facility in Cuiaba, Brazil, where the sample is crushed, split and pulverized to 200 mesh. The pulp is shipped to Santiago, Chile or Vancouver, Canada for gold fire assay. Acme Analytical Laboratories Ltd. is an internationally certified ISO 9001 laboratory.
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 is a Canadian-based public company with a focus on the acquisition, exploration and development of gold properties located in northern Brazil. The Company has title to one of the largest mineral exploration land packages (3,753 km2) in the Tapajos and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship Sao Jorge project. Rapid improvements to regional infrastructure continue to provide underlying support to Brazilian Gold's activities in northern Brazil.
Resource Inventory
Brazilian Gold has a resource inventory of 541,000 ounces of gold grading 1.18 g/t gold in the indicated category and 1,497,000 ounces of gold grading 0.79 g/t gold in the inferred category at a 0.3 g/t cut-off that is hosted in three deposits (Table 2).
Table 2: Brazilian Gold 2012 Global Resources at a 0.3 g/t cut-off.
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Project Deposit Classification Cut-off Tonnage Grade Ounces
Grade(g/t) (g/t)
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Sao Jorge Sao Jorge Indicated 0.3 14,230,000 1.18 541,000
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Inferred 0.3 27,810,000 0.68 611,000
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Surubim Jau Inferred 0.3 19,440,000 0.81 503,000
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Boa Vista VG1 Inferred 0.3 12,130,000 0.98 383,000
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All deposits Indicated 14,230,000 1.18 541,000
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All deposits Inferred 59,380,000 0.79 1,497,000
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For further information:
Brazilian Gold Corporation
Ian (John) Stalker, CEO and Director
Joanne Yan, President and Director
Tel: +1 604 602-8188
Investor Relations
Renmark Financial Communications Inc.
Peter Mahzari: pmahzari@renmarkfinancial.com
Laurence Lachance: llachance@renmarkfinancial.com
Tel: +1 (514) 939-3989 or +1 (416) 644-2020
www.renmarkfinancial.com
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.
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Release No. 19/12