VANCOUVER, June 24 /CNW/ - Brazilian Gold Corporation ("Brazilian Gold" or "Company") and Golden Tapajos Mineracao Ltda. are pleased to announce they have started a 700 metre diamond drill program at the Boa Vista Gold Project ("Boa Vista" or "Project"). The Project is located in southern Para near the border with Mato Grosso and consists of two exploration concessions covering an area of approximately 12,536 hectares.
Boa Vista Gold Project
The Boa Vista Gold Project covers a number of historic alluvial deposits (garimpos) that have been partially explored by previous operators. Exploration work to date includes mapping, soil and rock geochemistry, and a geophysical survey (induced polarization) over selected garimpos, including Jair and Almir.
The Jair target coincides with a northwest trending drainage along which alluvial gold has been mined over a distance of 4 kilometers. Bed rock exposed in pits along this structure consists of quartz+sulphide veins and stockworks hosted in sericite+pyrite altered granite. Grab samples of the vein material grade several grams per ton gold. A soil survey over Jair has identified a gold in soil anomaly that is 1.6 kilometers long by 400 meters wide and is open along strike to the northwest and southeast.
The Almir target consists of a gold in soil anomaly that is 1 kilometer long by up to 400 meters wide that is coincident with mined alluvial deposits and garimpeiro pits in saprolite that expose quartz veins and stockworks. Gold mineralization is similar to that exposed at Jair.
The drill program will test the coincident gold in soil and chargeability anomalies, and below the garimpo pits at Jair and Almir. Depending on results, the drill contractor is agreeable to extend the drill contract to better define these targets as well as test new targets discovered in the ongoing exploration program at Boa Vista.
Maues Gold Project Update
The Company has concluded a diamond drill program (2,505 m in 14 holes) at the Rosa de Maio property, one of four properties that comprise the Maues Gold Project. Assay results for the first 8 holes have been received, while assays for the final 6 holes are pending. The first 8 drill holes intersected anomalous gold mineralization over narrow intercepts, however they failed to intersect significant stockwork mineralization associated with wide spread pervasive alteration below the large gold in soil anomaly. The Company is currently evaluating the results received to date and will decide on future exploration work once all assays have been received.
Mineralized intervals in drill holes are sampled at 2 metre or smaller intervals using a diamond saw. One half of the sample is archived and the other half is dispatched by plane to the Acme Analytical Laboratories Ltd.'s sample preparation facility in Itaituba, Brazil, where the sample is crushed, split and pulverized to -200 mesh. One sample split is shipped to Santiago, Chile for gold fire assay with atomic absorption finish and a second sample split is shipped to Vancouver, Canada for 36 element induced coupled plasma - multispectral analysis. Acme Analytical Laboratories Ltd. is an internationally certified ISO 9001 laboratory. Brazilian Gold's Quality Assurance - Quality Control Program involving insertion of appropriate blanks, standards and duplicates was employed with acceptable 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 Corporation is a Canadian based public company with a focus on acquisition, exploration and development of mineral properties in the Tapajos region of Northern Brazil. The Company has approximately Cdn$10 million in cash, which will be used to explore our portfolio of gold projects in Brazil.
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 Toronto Stock Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Venture Exchange) accepts responsibility for the adequacy or the accuracy of this news release.
SOURCE Brazilian Gold Corporation
For further information: For further information: Brazilian Gold Corporation, Alvin Jackson, Chairman and Chief Executive Officer, Tel: +1 604 602-8188; Investor Relations, Tom Hart, Tel: +1 403 701-4278