VANCOUVER, March 18 /CNW/ -
Brazilian Gold Corporation ("Brazilian Gold" or "Company") is pleased to announce they have started a drill program (2,000m) on the Rosa de Maio property and expect initial assay results from this program sometime in the second half of April. The drill program will target a large gold in soil and rock anomaly that is approximately 5 kilometres in diameter and is underlain by altered porphyritic granite containing disseminated sulphides and quartz-sulphide stockworks. Grab samples of this mineralization commonly grades several grams per tonne gold, and the style and tenor of mineralization appears to be similar to many of the deposits currently being explored in the Tapajós Mineral Province (TMP). The soil anomaly is coincident with a flexure in a large northeast trending regional scale fault, as are a number of other soil anomalies on the property. Anta creek, which flows eastward into the Parauari River, cuts the northern part of the anomaly. The creek and its tributaries were the focus of extensive alluvial mining in the 1980's and 1990's with un-official gold production estimated to be 0.5 million ounces.
Boa Vista Project
The Company has finalized the option agreement with Golden Tapajós Mineracao Ltda. on the Boa Vista Project as outlined in the News Release (No. 2/10) of January 27, 2010. Golden Tapajos will be the operator of the project and they expect to mobilize exploration crews sometime in April and to start drilling the middle of May. The project covers a number of historic alluvial deposits (garimpos) that have been partially explored by Golden Tapajos. 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 part of the Jair target has identified a gold in soil anomaly that is 1.6 kilometers long by 400 meters wide and open along strike at both ends. 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 a number of alluvial workings and garimpo pits that expose quartz veins. Gold mineralization is similar to that exposed at Jair. Other high priority targets with known gold mineralization also exist within the concession boundaries.
The Company intends to undertake a systematic exploration program over the entire project, which will include detailed geological mapping, and geochemical and geophysical surveys. The drill program will initially focus on the Jair and Almir targets and will later be extended to other targets as results are received, interpreted and prioritized.
Tapajós Regional Program
Brazilian Gold is currently soliciting and reviewing a number of grass-roots as well as advanced stage properties in the TMP for possible acquisition. The Company is focusing on near surface, large tonnage bulk mineable gold deposits.
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$5 million in cash and investments equivalent to Cdn$8 million.
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.
SOURCE Brazilian Gold Corporation
For further information: For further information: Brazilian Gold Corporation, Alvin Jackson, Chairman and Chief Executive Officer, Tel: (604) 602-8188; Investor Relations, Tom Hart, Tel: (403) 701-4278