TAIA Lion Resources, the fast track developer of the exciting Gori Hills and Lake Sonfon gold projects in Sierra Leone, have commenced phase two drilling on their Gori Hills Project. This comes off the back of a successful phase one drilling programme undertaken recently at Lake Sonfon.
TAIA Lion's Gori Hills property is set in Sierra Leone's granite greenstone geological belt, in what is a highly prospective gold bearing region. TAIA's drill team is fully mobilised on site.
Assay results from both drill programmes are expected to be released as soon as possible.
www.taialionresources.com
Tuesday 31 January 2012
Brazilian Gold Corp (BGC:TSX.V) Add To Resource Base
Brazilian Gold Intersects 82 m Grading 0.85 g/t Including 4 m Grading 13.9 g/t Gold at the Surubim Project (Jau Target), Brazil
Brazilian Gold Corporation (TSXV: BGC, "Brazilian Gold" or the "Company") is pleased to report assay results for the final 11 holes of the 2011 drill program on the Surubim project (Jau target) in the Tapajós region of northern Brazil. Gold mineralization at the Jau target was discovered by Brazilian Gold in the first quarter of 2011 and has been intersected in drill holes (20 holes in 6,203 m) over a strike length of 700 m and up to a depth of 250 m below surface; the mineralization is open at depth and to the west. The target is located approximately 65 km southwest of the Company's advance stage São Jorge project and is accessed by the Transgarimpeiro Highway.
Highlights
- JAD-012-11 intersected 1.35 g/t gold over 12 m,
- JAD-013-11 intersected 0.85 g/t gold over 82 m that includes a higher grade interval of 13.8 g/t gold over 4 m,
- JAD-018-11 intersected 3.39 over 4 m, and
- JAD-019-11 intersected 1.16 g/t gold over 12 m (See table below for a complete set of drill intersections).
- Jau target represents one of several highly prospective gold targets identified on the Surubim project.
- Soil geochemistry and mapping currently underway on the Mariazinha target.
TABLE 1: DRILL RESULTS FROM THE JAU TARGET, SURUBIM PROJECT
From To Int. Au
Hole ID (m) (m) (m)* (g/t)
JAD-012-11 221.00 233.00 12.00 1.35
JAD-013-11 50.00 132.00 82.00 0.84
includes 110.00 114.00 4.00 13.80
JAD-014-11 93.00 189.00 96.00 0.27
includes 139.00 171.00 32.00 0.51
JAD-014-11 237.00 241.00 4.00 1.69
JAD-015-11 178.00 232.00 54.00 0.32
JAD-016-11 256.00 262.00 6.00 1.08
JAD-01 7-11 54.00 68.00 14.00 0.32
JAD-017-11 160.00 164.00 4.00 0.89
JAD-018-11 278.00 306.00 28.00 0.30
JAD-018-11 360.00 364.00 4.00 3.39
JAD-019-11 260.00 272.00 12.00 1.16
JAD-020-11 24.00 29.23 5.23 1.00
* True thickness is approximately 70 to 80 per cent of drill interval.
Note: The large composite intervals are a result of several narrow high-grade veinlets within an interval that is anomalous in gold.
Ian Stalker, CEO of Brazilian Gold, commented "The Company is delighted to have discovered gold mineralization in its first holes at the Jau target. The drill program has outlined substantial near surface gold mineralization that has the potential for low cost open pit extraction. The Company is currently evaluating the continuity of the mineralization to determine if the drill spacing is sufficient for an independent NI43-101 inferred resource estimate to be completed at this time, which would further add to the updated NI43-101 resource estimate for our São Jorge project due to be completed this quarter. In addition to drilling at Jau, we have been busy with geochemical and mapping programs at the Mariazinha target, which is located 15 k m northeast of Jau, as well as reviewing the results of the airborne geophysical survey completed in Q3 2011 that we expect to generate a number of high priority targets for follow-up exploration."
The 2011 drill program was designed to test an east-west trending chargeability and magnetic anomaly that was coincident with auriferous quartz-sulphide veins exposed in an historic garimpeiro pit. Twenty drill holes (6,203 m) were completed on ten sections (7900E to 8800E) space 100 m apart; the holes were drilled towards the north or south at -55 to -60°.
The drill holes intersected an east-west striking, steeply dipping mineralized zone hosted in felsic volcanic (ignimbrites) and granitoid rocks. The mineralized zone is up to 70 m thick and is comprised of quartz+calcite+sulphide veinlets with envelopes of sericite-silica-pyrite; sulphides include pyrite, sphalerite, galena and chalcopyrite. Drilling has delineated the zone over a strike length of 700 m and up to 250 m below surface; it is open at depth and to the west.
Laboratory Procedures
Drill core is sampled at 3 metre 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 Itaituba, 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 mineral properties in northern Brazil. The Company has title to one of the largest land packages (3,750 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship São Jorge project.
The São Jorge project contains an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off (Coffey Mining, June 21, 2011).
Thursday 26 January 2012
Brazilian Gold Corp BGC:TSXV Begin work on the pre feasibility study for the exciting Sao Jorge Gold Project
Following a series of good drilling results on their flagship Sao Jorge Gold Project, Brazilian Gold Corp BGC:TSXV have commenced initial work on the pre feasibility study for the exciting Sao Jorge Gold Project
BGC has released a series of positive drill results from the Sao Jorge property where grades have been steadily increasing and where the company is expected to release soon, a revised and likely improved resource estimate.
BGC has released a series of positive drill results from the Sao Jorge property where grades have been steadily increasing and where the company is expected to release soon, a revised and likely improved resource estimate.
Wednesday 25 January 2012
URU Metals LSE:URU Shares Advance On Positive Uranium Outlook
URU Metals (LSE:URU) the London listed uranium exploration company who are currently drilling on their highly prospective Irhazer Uranim Project in the Republic of Niger, see their shares advance by 3.7% Wednesday as the market turns positive on uranium.
URU Metals is one of only a few London listed uranium exploration companies and the only London listed company with large scale exploration licences in Niger, where the world's fourth largest assured uranium resources exist.
Recently, both the United States and France have announced that nuclear energy will remain a strong feature of their energy generation mix. The United Kingdom is committed to the development of up to ten new nuclear power stations. There has recently been signs that the major uranium producers are looking to build up their resource inventories. Cameco's recent transaction with the private South American uranium exploration co, UrAmerica, where URU Metals has a 7.2% stake and the decision by Rio Tinto to place an offer for Hathor Exploration, provide some evidence of return to a more positive level of sentiment about the future of the uranium sector.
www.urumetals.com
URU Metals is one of only a few London listed uranium exploration companies and the only London listed company with large scale exploration licences in Niger, where the world's fourth largest assured uranium resources exist.
Recently, both the United States and France have announced that nuclear energy will remain a strong feature of their energy generation mix. The United Kingdom is committed to the development of up to ten new nuclear power stations. There has recently been signs that the major uranium producers are looking to build up their resource inventories. Cameco's recent transaction with the private South American uranium exploration co, UrAmerica, where URU Metals has a 7.2% stake and the decision by Rio Tinto to place an offer for Hathor Exploration, provide some evidence of return to a more positive level of sentiment about the future of the uranium sector.
www.urumetals.com
Tuesday 24 January 2012
Brazilian Gold Corp BGC:TSX.V Yearly Review Report on São Jorge:
Brazilian Gold Corp BGC:TSX.V Yearly Review Report on São Jorge:
by Brand Mining 25/01/2012
Brand Mining provides readers of its blog with a “Yearly Review” on Brazilian Gold Corp’s flagship São Jorge project, located in the Tapajós region of northern Brazil.
Overview:
The São Jorge project is Brazilian Gold Corp’s flagship gold project and forms part of a adjacent package of gold projects that include the Jau Tragte (Previous Rio Novo), Boa Vista, Surubim and Pista Manual properties.
The latter projects have all seen exploration expenditure over the last twelve months with drilling activity that has led to the release of some positive assay results.
Drilling:
BGC commenced its phase one, 5,000 meter diamond drill campaign on the São Jorge project on the 24th November 2010. Over 14,000 meters of drilling has been sunk on the latest programme, where results were released on the 19th January 2012.
Positive PEA:
On the 21st July 2011 BGC received a National Instrument 43-101 Independent Technical Report Detailing a Positive Preliminary Economic Assessment on the São Jorge deposit.
Highlights Included:
- Independent PEA completed by Coffey Mining indicated a project internal rate of return (IRR) of 22.9% and a net present value (NPV) at a 5% discount rate of $99.1 M at a gold price of $1,300 per ounce.
- Project economics using a gold price of $1,560 per ounce indicated a project IRR of 36.4% and a NPV at a 5% discount rate of $181.4 M.
NI43-101 indicated resource of 343,000 ounces (8.3Mt grading 1.3 g/t gold) and an inferred resource of 458,000 ounces (12.6 Mt grading 1.1 g/t gold) using a 0.5 gram/tonne cut-off (Coffey Mining Sept. 14, 2010).
Flow Of Drilling Results:
By June 2011, BGC started to release a series of assay results, from the drilling programme undertaken at São Jorge. The programme has continued into 2012.
We have provided a table below with a series of the highlights of the drill campaign to date.
Abbreviated Summary of Assay Results from the São Jorge Project
Hole ID
|
Interval(m)*
|
Grade
g/t
|
Date Reported
|
SJD-086-11
|
12.00
|
1.71
|
30/06/2011
|
SJD-095-11
|
10.00
|
3.60
|
24/10/2011
|
SJD-094-11
|
22.00
|
1.96
|
24/10/2011
|
SJD-096-11
|
4.00
|
4.37
|
19/12/2011
|
SJD-103-11
|
11.00
|
2.28
|
19/12/2011
|
SJD-101-11
|
16.00
|
1.79
|
19/12/2011
|
SJD-108-11
|
20.00
|
2.2
|
19/12/2011
|
SJD-108-11
|
40.00
|
1.96
|
19/12/2011
|
SJD-108-11
|
8.00
|
3.9
|
19/01/2012
|
*True thickness is approximately 50% of drill interval.
These results so far suggest the BGC geological team is improving its knowledge of the geological setting at São Jorge. Since the release of the first set of results back in June 2011, the BGC geological team has drilled a holes on the São Jorge property that have revealed grades that are exceptionally good for a potential open pit, large scale mine operation. This suggests the targeting of drill holes is being well thought through by the BGC geological team and that this is based on an improved knowledge of the geological data sets that BGC has built up since its time on the ground at São Jorge.
Moving Into The Mining Phase:
A revised PEA and resource classification will be undertaken on São Jorge where the drilling results secured, post the previous PEA, will help provide a clearer picture of São Jorge and its potential to become a mineable asset. Subject to the revised PEA, Brazilian Gold is likely to move quickly into the feasibility study stage at São Jorge.
Infrastructure:
The São Jorge project is well situated with respect to infrastructure. It is located approximately 70 km north of the town of Novo Progresso on Highway BR163 that connects the city of Cuiaba in Mato Grosso state with the port city of Santarem on the Amazon River. The highway is currently being asphalted with approximately 30 km remaining to be completed between São Jorge and Novo Progresso. As well as having tarred road access, the project is connected to the electric power grid and a skilled work force is available in Novo Progresso, which has a population of approximately 60,000 people.
Both human capital and infrastructure capital support mine development at São Jorge.
Summary:
BGC has undertaken a year of heavy investment in drilling and on the overall project development of São Jorge. At the same time it has invested in drilling on its adjacent properties. The company is building up a robust geological picture of the Tapajós region of northern Brazil and can not be faulted on the use of shareholder resources, which have been deployed correctly on what has been so far an intensive drilling campaign.
Brazilian Gold is well positioned to develop São Jorge into a low cost, large scale open pit project. With a board and executive management that has a strong track record in taking exploration projects into mine development and production, we see BGC as a company that has real potential to become a mid-tier gold producer over the near term, where access to funding and capital market support would be well supported to make that happen.
Authors:
André Morrall FinstSMM
Dr.Iestyn Adams
iestyn@brandmining.co.uk
TAIA Lion Resources Pleased By Sierra Leone's Progress on Education & Training
Taia Lion Resources, the developer of the exciting Lake Sonfon and Gori Hills gold projects in Sierra Leone is pleased by the progress and investment the government of Sierra Leone is making within the education and training sectors.
Starting this year, Sierra Leone will be initiating a number of significant investment programmes. Details of which are contained in the:
African Economic Outlook Report 2011 on Sierra Leone, available at:
http://www.africaneconomicoutlook.org/fileadmin/uploads/aeo/Country_Notes/2011/Full/Sierra%20Leone.pdf
Highlights Include:
:Government allocation of SLL 76.1 billion (17 Million US$) to the Ministry of Education, Youth and Sports under the recurrent budget.
:Grants to tertiary institutions amount to SLL 42.4 billion (9.4 million US$).
:An amount of SLL 15.2 billion (3.3 Million US$) is being allocated for grants to government boarding schools, payment of examination fees for the West African Senior School Certificate Examination (WASSCE) and support for the Girl Child programme in secondary schools.
:Allocation of SLL 500 million (112,000 US$) for the new Barefoot Solar Technicians Training Centre at Konta Line.
:SLL 1.0 billion (224,00 US$) is being provided for the operations of the newly established Youth Commission.
:Allocation of SLL 1.7 billion (380,000 US$) for sports programmes.
:Establishment of The Teacher Service Commission to ensure the effective management of the profession.
:Recruitment of over 4 000 additional teachers, based on a new National Policy on Teacher Training and Development
:Additional resources secured for the construction of more schools and technical vocational institutions
Education and Training Report Extract Below
Many Sierra Leonean children are out of school, too few complete their schooling and fewer get a quality education. In the Agenda for Change, the government is committed to improving access to education, raising the schooling completion rate, and improving the quality of education and teacher training. To this end, the government launched the Professor Gbamanja Commission of Inquiry in 2009 to review the educational sector, which produced a White Paper with recommendations for an overhaul of the education system. Those recommendations are now being implemented.
The government is allocating SLL 76.1 billion to the Ministry of Education, Youth and Sports under the recurrent budget. Grants to tertiary institutions amount to SLL 42.4 billion. An amount of SLL 15.2 billion is being allocated for grants to government boarding schools, payment of examination fees for the West African Senior School Certificate Examination (WASSCE) and support for the Girl Child programme in secondary schools. In addition, an amount of SLL 500 million is being allocated for the new Barefoot Solar Technicians Training Centre at Konta Line. SLL 1.0 billion is being provided for the operations of the newly established Youth Commission and SLL 1.7 billion for sports programmes.
A Teacher Service Commission is being established to ensure the effective management of the profession. Over 4 000 additional teachers have been recruited, based on a new National Policy on Teacher Training and Development, and resources have been secured for the construction of more schools and technical vocational institutions. Grants-in-aid have been awarded to all female students who gained admission to tertiary institutions to study science courses such as mathematics, physics, chemistry, biology and engineering, and for all disabled students who fulfilled admission requirements for tertiary institutions to pursue higher education. Tuition fees are paid for all girls in approved government-assisted junior secondary schools.
Steps are being taken to conduct National School Verification Exercises to weed out "ghost teachers" who do not work but are on the payroll. A National Policy on Technical, Vocational Education and Training have been formulated, and the construction and rehabilitation of eight technical vocational institutes in various parts of the country has been completed. The construction of additional Technical and Vocational Institutes costing USD 9 million is in progress throughout the country. The curriculum for technical and vocational institutes has been revised to include new trades that are attractive to women. Despite all these efforts, the 2010 Millennium Development Goals Progress Report states that it is not certain the Primary Education MDG will be met by 2015.
Starting this year, Sierra Leone will be initiating a number of significant investment programmes. Details of which are contained in the:
African Economic Outlook Report 2011 on Sierra Leone, available at:
http://www.africaneconomicoutlook.org/fileadmin/uploads/aeo/Country_Notes/2011/Full/Sierra%20Leone.pdf
Highlights Include:
:Government allocation of SLL 76.1 billion (17 Million US$) to the Ministry of Education, Youth and Sports under the recurrent budget.
:Grants to tertiary institutions amount to SLL 42.4 billion (9.4 million US$).
:An amount of SLL 15.2 billion (3.3 Million US$) is being allocated for grants to government boarding schools, payment of examination fees for the West African Senior School Certificate Examination (WASSCE) and support for the Girl Child programme in secondary schools.
:Allocation of SLL 500 million (112,000 US$) for the new Barefoot Solar Technicians Training Centre at Konta Line.
:SLL 1.0 billion (224,00 US$) is being provided for the operations of the newly established Youth Commission.
:Allocation of SLL 1.7 billion (380,000 US$) for sports programmes.
:Establishment of The Teacher Service Commission to ensure the effective management of the profession.
:Recruitment of over 4 000 additional teachers, based on a new National Policy on Teacher Training and Development
:Additional resources secured for the construction of more schools and technical vocational institutions
Education and Training Report Extract Below
Many Sierra Leonean children are out of school, too few complete their schooling and fewer get a quality education. In the Agenda for Change, the government is committed to improving access to education, raising the schooling completion rate, and improving the quality of education and teacher training. To this end, the government launched the Professor Gbamanja Commission of Inquiry in 2009 to review the educational sector, which produced a White Paper with recommendations for an overhaul of the education system. Those recommendations are now being implemented.
The government is allocating SLL 76.1 billion to the Ministry of Education, Youth and Sports under the recurrent budget. Grants to tertiary institutions amount to SLL 42.4 billion. An amount of SLL 15.2 billion is being allocated for grants to government boarding schools, payment of examination fees for the West African Senior School Certificate Examination (WASSCE) and support for the Girl Child programme in secondary schools. In addition, an amount of SLL 500 million is being allocated for the new Barefoot Solar Technicians Training Centre at Konta Line. SLL 1.0 billion is being provided for the operations of the newly established Youth Commission and SLL 1.7 billion for sports programmes.
A Teacher Service Commission is being established to ensure the effective management of the profession. Over 4 000 additional teachers have been recruited, based on a new National Policy on Teacher Training and Development, and resources have been secured for the construction of more schools and technical vocational institutions. Grants-in-aid have been awarded to all female students who gained admission to tertiary institutions to study science courses such as mathematics, physics, chemistry, biology and engineering, and for all disabled students who fulfilled admission requirements for tertiary institutions to pursue higher education. Tuition fees are paid for all girls in approved government-assisted junior secondary schools.
Steps are being taken to conduct National School Verification Exercises to weed out "ghost teachers" who do not work but are on the payroll. A National Policy on Technical, Vocational Education and Training have been formulated, and the construction and rehabilitation of eight technical vocational institutes in various parts of the country has been completed. The construction of additional Technical and Vocational Institutes costing USD 9 million is in progress throughout the country. The curriculum for technical and vocational institutes has been revised to include new trades that are attractive to women. Despite all these efforts, the 2010 Millennium Development Goals Progress Report states that it is not certain the Primary Education MDG will be met by 2015.
© AfDB, OECD, UNDP, UNECA African Economic Outlook 2011
Monday 23 January 2012
URU Metals Mobilise SAN Nickel Teams
URU Metals, LSE:URU the developer of uranium and nickel assets in Africa and South America (SAN) is currently mobilising the Southern Africa Nickel teams at their offices in Joburg, South Africa. URU Metals holds a 45% stake in the SAN Nickel joint venture that consists of the potential world class Zebediela and Burgersfort sulphide nickel projects. The SAN geological and metallurgy teams will move into the URU offices as preparations to move to a potential listing of SAN Nickel gain pace.
Thursday 19 January 2012
Brazilian Gold Corp BGC.TSX.V Announce Higher Grade Gold Discoveries From Their Latest Sao Jorge Drill Campaign
Brazilian Gold Intersects 1.96 g/t Gold over 40 m at the São Jorge Project, Brazil
Brazilian Gold Corporation (TSXV: BGC, "Brazilian Gold" or the "Company") is pleased to report assay results for an additional 8 holes from the 2011 drill program on the São Jorge project in the Tapajós region of northern Brazil. The drill program (37 holes in 14,418 m) was completed the second week of December; assay results from the first 24 holes were previously reported. An updated NI43-101 resource estimate is currently in progress and will incorporate results from the 2011 drill program along with historic drill holes (108 holes in 22,446 m).
Highlights
* SJD-108-11 intersected 1.03 g/t gold over 84 m that includes a higher grade interval of 1.96 g/t gold over 40 m,
* SJD-112-11 intersected 1.52 g/t gold over 14 m, and
* SJD-114-11 intersected 1.37 g/t gold over 14 m (See table below for a complete set of drill intersections).
* Results to date indicate the deposit is open down dip and along strike to the northwest and southeast.
* A resistivity high has been identified along strike of the Sao Jorge deposit to the southeast for 1.5 km
that is in part coincident with a chargeability high. This response is similar to the signature observed
over the known deposit suggesting potential to identify additional zones of gold mineralization to the southeast.
Table 1: Drill results from the Sao Jorge deposit.
----------------------------------------------------------------------
Hole ID Location Section From(m) To(m)&n bsp; Interval(m)* Au g/t
----------------------------------------------------------------------
SJD-106-11 SJ East 7950E 146.00 155.00 9.00 0.45
SJD-108-11 SJ East 7900E 28.00 44.00 16.00 0.63
SJD-108-11 SJ East 7900E 70.00 154.00 84.00 1.03
includes SJ East 7900E 82.00 122.00 40.00 1.96
includes 82.00 90.00 8.00 3.90
includes 102.00 122.00 20.00 2.20
SJD-108-11 SJ East 7900E 196.00 200.00 4.00 0.97
SJD-109-11 SJ West 7000E 89.00 101.00 12.00 0.73
includes SJ West 7000E 95.00 101.00 6.00 1.19
SJD-109-11 SJ West ; 7000E 165.00 175.00 10.00 0.83
SJD-109-11 SJ West 7000E 248.00 270.00 22.00 0.60
SJD-109-11 SJ West 7000E 294.00 306.00 12.00 0.42
SJD-110-11 SJ Central 7600E 226.00 234.00 8.00 0.42
SJD-110-11 SJ Central 7600E 261.00 296.00 35.00 0.27
includes SJ Central 7600E 280.00 290.00 10.00 0.60
SJD-110-11 SJ Central 7600E 421.00 429.00 8.00 0.56
SJD-111-11 SJ East 7900E 44.00 77.00 33.00 0.51
includes SJ East 7900E 50.00 62.00 12.00 1.11
SJD-111-11 SJ East 7900E 141.00 145.00 4.00 2.08
SJD-111-11 SJ East 7900E 173.00 189.00 16.00 0.43
SJD-112-11 SJ West 7050E 202.00 212.00 ; 10.00 0.47
SJD-112-11 SJ West 7050E 258.00 272.00 14.00 1.52
SJD-113-11 SJ West 6900E 316.00 330.00 14.00 0.506
SJD-114-11 SJ West 6750E 88.00 170.00 82.00 0.50
includes SJ West 6750E 88.00 102.00 14.00 1.37
SJD-114-11 SJ West 6750E 411.00 423.00 12.00 1.28
-------------------------- -----------------------------------------
*True thickness is approximately 50% of drill interval.
Ian Stalker, CEO of Brazilian Gold, commented "The Company is delighted to note the higher grade intercepts in these latest drill holes that will add 'quality' ounces to our 'new' resource inventory. We anticipate receiving the assay results from the final 5 holes of the 2011 program by the end of January. The drilling (14,418 m in 37 holes) completed in 2011 along with the historic holes (108 holes in 22,446 m) will be used to complete an updated NI43-101 compliant resource for our São Jorge project early in 2012.
We intend to mine our São Jorge deposit by a traditional open pit approach with indications from our Preliminary Economic Assessment (PEA) of a stripping ratio of approximately 4 to 1 waste to ore.
It is positive to note that the deposit as currently known is open along strike and at depth, but equally impor tant is the new geophysical targets identified along strike of São Jorge to the southeast. These targets are currently being refined and will be drill tested throughout the year. The target has a similar footprint of the existing deposit, i.e. 1.4 km in potential strike length."
The São Jorge project is well situated with respect to infrastructure. It is located approximately 70 km north of the town of Novo Progresso on Highway BR163 that connects the city of Cuiaba in Mato Grosso state with the port city of Santarem on the Amazon River. The highway is currently being asphalted with approximately 30 km remaining to be completed between São Jorge and Novo Progresso. As well as having tarred road access, the project is connected to the electric power grid and a skilled work force is available in Novo Progresso, which has a population of approximately 60,000 people.
The São Jorge deposit is 1,300 m long by up to 200 m wide and has been intersected in drill holes to 350 m depth; the deposit strikes northwest and has a sub-vertical dip. Alteration and mineralization appears to be spatially associated with a number of discontinuous shear and fracture zones within granitic host rocks. Alteration minerals include chlorite, epidote, sericite, silica and sulphides that occur as disseminations, fracture controlled or pervasive alteration. The predominant sulphide is pyrite with minor amounts of chalcopyrite. Gold mineralization is commonly associated with silica+sericite+sulphide alteration and higher gold values are generally associated with higher pyrite content and the presence of chalcopyrite.
Drill holes reported in this news release are angle holes that have been drilled on north-south sections spaced 50 m apart. The drill holes were infill holes that targeted the eastern, central and western part of the deposit up to 300 m below surface. All drill holes in this news release inte rsected significant intervals of alteration and/or gold mineralization.
Results from the 2011 drill program (37 holes in 14,418 m) along with the historic drilling (108 holes in 22,446 m) will be used in a new resource estimate scheduled for completion by the end of the first quarter of 2012. The objective of this program is to identify additional resources that are amenable to open pit extraction thereby increasing the potential mine life and production rate as documented in the recently completed independent NI43-101 Preliminary Economic Assessment (PEA) on the São Jorge deposit (Coffey Mining, June 21st, 2011). The PEA indicates robust economics with an internal rate of return (IRR) of 22.9% and a net present value (NPV) at a 5% discount rate of $99.1 million using a gold price of US$1,300 per ounce. The PEA is based on an mineral resource estimate containing an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off. Due to wide spaced drilling in certain parts of the deposit, approximately 50% of this resource was not included in the mine plan. In addition, none of the down dip or infill drilling completed by Brazilian Gold in the 2011 drill program was incorporated in the resource estimate.
Brazilian Gold is currently reviewing the results of its extensive exploration program (drilling, soil geochemistry and IP) completed in 2011. Resistivity and chargeability anomalies, some of which are similar in orientation and amplitude, as those observed over the São Jorge deposit have been outlined in a recently completed 120-line kilometre survey. Gold in soil anomalies are coincident with many of the IP anomalies. Targets identified from this work are currently being evaluated and prioritized for drill testing early in 2012.
Laboratory Procedures< /strong>
Drill core is sampled at 3 metre 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 Itaituba, 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 mineral properties in northern Brazil. The Company has title to on e of the largest land packages (3,750 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship São Jorge project.
The São Jorge project contains an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off (Coffey Mining, June 21, 2011).
Brazilian Gold Corporation (TSXV: BGC, "Brazilian Gold" or the "Company") is pleased to report assay results for an additional 8 holes from the 2011 drill program on the São Jorge project in the Tapajós region of northern Brazil. The drill program (37 holes in 14,418 m) was completed the second week of December; assay results from the first 24 holes were previously reported. An updated NI43-101 resource estimate is currently in progress and will incorporate results from the 2011 drill program along with historic drill holes (108 holes in 22,446 m).
Highlights
* SJD-108-11 intersected 1.03 g/t gold over 84 m that includes a higher grade interval of 1.96 g/t gold over 40 m,
* SJD-112-11 intersected 1.52 g/t gold over 14 m, and
* SJD-114-11 intersected 1.37 g/t gold over 14 m (See table below for a complete set of drill intersections).
* Results to date indicate the deposit is open down dip and along strike to the northwest and southeast.
* A resistivity high has been identified along strike of the Sao Jorge deposit to the southeast for 1.5 km
that is in part coincident with a chargeability high. This response is similar to the signature observed
over the known deposit suggesting potential to identify additional zones of gold mineralization to the southeast.
Table 1: Drill results from the Sao Jorge deposit.
----------------------------------------------------------------------
Hole ID Location Section From(m) To(m)&n bsp; Interval(m)* Au g/t
----------------------------------------------------------------------
SJD-106-11 SJ East 7950E 146.00 155.00 9.00 0.45
SJD-108-11 SJ East 7900E 28.00 44.00 16.00 0.63
SJD-108-11 SJ East 7900E 70.00 154.00 84.00 1.03
includes SJ East 7900E 82.00 122.00 40.00 1.96
includes 82.00 90.00 8.00 3.90
includes 102.00 122.00 20.00 2.20
SJD-108-11 SJ East 7900E 196.00 200.00 4.00 0.97
SJD-109-11 SJ West 7000E 89.00 101.00 12.00 0.73
includes SJ West 7000E 95.00 101.00 6.00 1.19
SJD-109-11 SJ West ; 7000E 165.00 175.00 10.00 0.83
SJD-109-11 SJ West 7000E 248.00 270.00 22.00 0.60
SJD-109-11 SJ West 7000E 294.00 306.00 12.00 0.42
SJD-110-11 SJ Central 7600E 226.00 234.00 8.00 0.42
SJD-110-11 SJ Central 7600E 261.00 296.00 35.00 0.27
includes SJ Central 7600E 280.00 290.00 10.00 0.60
SJD-110-11 SJ Central 7600E 421.00 429.00 8.00 0.56
SJD-111-11 SJ East 7900E 44.00 77.00 33.00 0.51
includes SJ East 7900E 50.00 62.00 12.00 1.11
SJD-111-11 SJ East 7900E 141.00 145.00 4.00 2.08
SJD-111-11 SJ East 7900E 173.00 189.00 16.00 0.43
SJD-112-11 SJ West 7050E 202.00 212.00 ; 10.00 0.47
SJD-112-11 SJ West 7050E 258.00 272.00 14.00 1.52
SJD-113-11 SJ West 6900E 316.00 330.00 14.00 0.506
SJD-114-11 SJ West 6750E 88.00 170.00 82.00 0.50
includes SJ West 6750E 88.00 102.00 14.00 1.37
SJD-114-11 SJ West 6750E 411.00 423.00 12.00 1.28
-------------------------- -----------------------------------------
*True thickness is approximately 50% of drill interval.
Ian Stalker, CEO of Brazilian Gold, commented "The Company is delighted to note the higher grade intercepts in these latest drill holes that will add 'quality' ounces to our 'new' resource inventory. We anticipate receiving the assay results from the final 5 holes of the 2011 program by the end of January. The drilling (14,418 m in 37 holes) completed in 2011 along with the historic holes (108 holes in 22,446 m) will be used to complete an updated NI43-101 compliant resource for our São Jorge project early in 2012.
We intend to mine our São Jorge deposit by a traditional open pit approach with indications from our Preliminary Economic Assessment (PEA) of a stripping ratio of approximately 4 to 1 waste to ore.
It is positive to note that the deposit as currently known is open along strike and at depth, but equally impor tant is the new geophysical targets identified along strike of São Jorge to the southeast. These targets are currently being refined and will be drill tested throughout the year. The target has a similar footprint of the existing deposit, i.e. 1.4 km in potential strike length."
The São Jorge project is well situated with respect to infrastructure. It is located approximately 70 km north of the town of Novo Progresso on Highway BR163 that connects the city of Cuiaba in Mato Grosso state with the port city of Santarem on the Amazon River. The highway is currently being asphalted with approximately 30 km remaining to be completed between São Jorge and Novo Progresso. As well as having tarred road access, the project is connected to the electric power grid and a skilled work force is available in Novo Progresso, which has a population of approximately 60,000 people.
The São Jorge deposit is 1,300 m long by up to 200 m wide and has been intersected in drill holes to 350 m depth; the deposit strikes northwest and has a sub-vertical dip. Alteration and mineralization appears to be spatially associated with a number of discontinuous shear and fracture zones within granitic host rocks. Alteration minerals include chlorite, epidote, sericite, silica and sulphides that occur as disseminations, fracture controlled or pervasive alteration. The predominant sulphide is pyrite with minor amounts of chalcopyrite. Gold mineralization is commonly associated with silica+sericite+sulphide alteration and higher gold values are generally associated with higher pyrite content and the presence of chalcopyrite.
Drill holes reported in this news release are angle holes that have been drilled on north-south sections spaced 50 m apart. The drill holes were infill holes that targeted the eastern, central and western part of the deposit up to 300 m below surface. All drill holes in this news release inte rsected significant intervals of alteration and/or gold mineralization.
Results from the 2011 drill program (37 holes in 14,418 m) along with the historic drilling (108 holes in 22,446 m) will be used in a new resource estimate scheduled for completion by the end of the first quarter of 2012. The objective of this program is to identify additional resources that are amenable to open pit extraction thereby increasing the potential mine life and production rate as documented in the recently completed independent NI43-101 Preliminary Economic Assessment (PEA) on the São Jorge deposit (Coffey Mining, June 21st, 2011). The PEA indicates robust economics with an internal rate of return (IRR) of 22.9% and a net present value (NPV) at a 5% discount rate of $99.1 million using a gold price of US$1,300 per ounce. The PEA is based on an mineral resource estimate containing an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off. Due to wide spaced drilling in certain parts of the deposit, approximately 50% of this resource was not included in the mine plan. In addition, none of the down dip or infill drilling completed by Brazilian Gold in the 2011 drill program was incorporated in the resource estimate.
Brazilian Gold is currently reviewing the results of its extensive exploration program (drilling, soil geochemistry and IP) completed in 2011. Resistivity and chargeability anomalies, some of which are similar in orientation and amplitude, as those observed over the São Jorge deposit have been outlined in a recently completed 120-line kilometre survey. Gold in soil anomalies are coincident with many of the IP anomalies. Targets identified from this work are currently being evaluated and prioritized for drill testing early in 2012.
Laboratory Procedures< /strong>
Drill core is sampled at 3 metre 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 Itaituba, 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 mineral properties in northern Brazil. The Company has title to on e of the largest land packages (3,750 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship São Jorge project.
The São Jorge project contains an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off (Coffey Mining, June 21, 2011).
Tuesday 17 January 2012
BGC:TSX.V Brazilian Gold Drilling Continues at Sao Jorge
BGC:TSX.V Brazilian Gold Drilling Corporation, the leading developer of large scale road accessible gold projects in the highly prospective Tapajós region of northern Brazil, reminds the market of the ongoing drill campaign currently underway at its flagship São Jorge project.
The company has been releasing a steady stream of drill results that have shown increasing grades down dip and along strike. Further results are expected to be released this quarter (2012).
Coffey Mining an independent mining consultancy company has issued a positive PEA assessment on São Jorge,where Brazilian Gold is rapidly advancing the development
Shares advanced 10% Tuesday as gold advances close to 1,700$oz. Significant government purchases of gold traded ETF's are helping drive the gold price upwards.
Please visit www.braziliangold.ca for further details.
The company has been releasing a steady stream of drill results that have shown increasing grades down dip and along strike. Further results are expected to be released this quarter (2012).
Coffey Mining an independent mining consultancy company has issued a positive PEA assessment on São Jorge,where Brazilian Gold is rapidly advancing the development
Shares advanced 10% Tuesday as gold advances close to 1,700$oz. Significant government purchases of gold traded ETF's are helping drive the gold price upwards.
Please visit www.braziliangold.ca for further details.
Thursday 12 January 2012
Brazilian Gold Corp BGC:TSXV low cost large scale open pit Sao Jorge Gold Project well positioned to weather gold price slump
Brazilian Gold Corp BGC:TSXV the fast track developer of the low cost open pit Sao Jorge Gold Project in northern Brazil reminds investors during a recent roadshow held in London, about the strong possibility the gold price may come off as the US economy improves and the US Dollar strengthens. Brazillian Gold's flagship Sao Jorge project will be a low cost large scale open pit operation
where cash production costs are expected to sit between 400 to 600 dollars per ounce. The company is well positioned to weather a downward pressure , gold price market.
where cash production costs are expected to sit between 400 to 600 dollars per ounce. The company is well positioned to weather a downward pressure , gold price market.
Wednesday 11 January 2012
TAIA Lion Resources "Sierra Leone The Place For Growth in 2012"
TAIA Lion Resources, one of Sierra Leone's leading natural resources development companies, points investors to the recent positive International Monetary Fund (IMF) report on Sierra Leone.
See below the following Extracts
See below the following Extracts
Extractive industries are expected to drive economic activity. Assuming full
implementation of two new iron ore mining projects, economic activity and tax revenue will
increase substantially in the coming years. (Box 1 ) A one-time expansion of real GDP of
about 45 percent is projected for 2012, while exports could increase by a factor of four. To
level the playing field for new mining investment and increase revenue, the fiscal regime as
defined by the Mines and Minerals Act (MMA) of 2009 will be fully applied to future
agreements. The government intends to implement a resource rent tax (structural benchmark
for December 2012) to benefit from upside profitability, and a capital gains tax to safeguard
government revenue in case of sales of lucrative lease agreements in mining and oil
extraction to third parties.
Activity in other sectors is also expanding. Real non-iron ore GDP growth is
expected to increase to 6 percent in 2012 and beyond. Key steps are being taken to strengthen
the business environment: investment in agriculture and food security, basic infrastructure,
electricity generation, and health and education.
URU Metals Positive on Niger Outlook for 2012
URU Metals URU:LSE the london listed uranium exploration company with one of the largest sets of uranium exploration concessions in Niger points investors to the recent International Monetary Fund report on the country where investment in Niger in 2012 will help deliver significant economic gains.With new mines coming online, Niger is set to become the world’s second-biggest uranium producer by 2014. Thanks to those projects as well as a new oil rig, Niger’s economy will grow by more than 14 percent this year.
Oil, Uranium Projects Brighten Medium-term Prospects in Niger
By Clara Mira
IMF African Department
December 19, 2011
Higher natural resource revenues to improve fiscal, external position
Resources earnings should be leveraged into faster growth and poverty reduction
Negotiations with IMF on new program expected to start soon
A new crude oil processing project and rising uranium production are set to boost Niger’s economic growth from next year, the IMF said in its regular review of the West African nation’s economy.
Higher natural resources revenues should also help improve Niger’s fiscal and external position in the medium term.
An integrated oil project that includes extraction and refining of 20,000 barrels per day of crude oil is due to start operations in 2012. A new uranium mine that will make Niger the world’s second-largest uranium producer is scheduled to start production by 2014.
IMF Managing Director Christine Lagarde arrived in Niger during her December 18-22 trip to Africa. Her itinerary included a meeting with President Mahamadou Issoufou and taking part in a cabinet meeting focused on “The Challenges of Economic Development in Niger”. She addressed the National Assembly, and met with representatives of various financial institutions and the private sector.
Mining exports
Niger’s oil and mining exports are projected to show triple growth between 2011 and 2016, boosting government revenue from natural resources. These large projects are expected to improve Niger’s fiscal and external position in the medium term, creating favorable conditions for growth and poverty reduction. Niger’s GDP growth is forecast to soar to 14.1 percent in 2012 from a projected 3.8 percent in 2011.
Niger’s main priority in the period ahead is to leverage the expected scaling up of oil and mining production to accelerate growth and poverty reduction. The IMF review said Niger’s new government has adopted an ambitious development strategy, based on the use of oil and mining revenue to finance public investment in infrastructure, agriculture, health, and education.
IMF missions visiting Niger urged careful management of natural resources, medium-term planning of the public investment program, continued fiscal reform to enhance domestic revenue collection and improve the efficiency of expenditure, and measures to improve the business climate.
Libya crisis effects
Despite its natural resource endowment, Niger remains a low-income country. Its economy remains highly dependent on rain-fed agriculture and vulnerable to external shocks. The country relies substantially on external assistance.
A democratically elected government took office in April 2011, and Niger’s relations with international donors normalized. The crisis in Libya triggered the return of tens of thousands of Nigerien workers, leading to a decline in Niger’s remittances from abroad.
Budget implementation remained on course through August 2011, with revenue exceeding targets and expenditure in line with projections. The 2012 budget is expected to maintain a sound fiscal position while substantially increasing public investment. The impact of rising global food prices on inflation has remained modest thus far.
Niger’s three-year program with the IMF, supported by the Extended Credit Facility, expired in June 2011. Program implementation had been on track initially, but was interrupted by a military coup in February 2010.
Following the recognition of the transitional government in September 2010, the IMF resumed normal engagement with the authorities; but efforts to complete further reviews under the arrangement were constrained by the complex political situation. The new authorities have expressed their interest in negotiating a follow-up program as soon as possible. Negotiations on a new program are expected to start shortly.
Fuel subsidy costs
In 2010, the cost for Niger of subsidizing fuel reached about 1 percent of GDP. These subsidies were not only costly but ill targeted, since they did not benefit the poorest segments of the population. Since June 2011, the government adopted a strategy to gradually eliminate the subsidies, while adopting mitigating measures to protect the urban poor from increases in transportation costs.
The authorities have recently decided to pass part of the benefits of the new oil production to domestic consumers in the form of lower prices at the pump. The extent of the subsidies is, however, limited: the agreed prices are expected to be about 14 to 17 percent below import prices.
Natural resource management
Enhancing transparency in the management of natural resources has been the focus of interest for the authorities and society. As a result, Niger’s 2010 constitution requires the publication of all contracts for the exploration and exploitation of natural resources. Niger is actively engaged in the Extractive Industries Transparency Initiative and was declared in compliance with the standards of the initiative in March 2011.
The state is directly involved as co-shareholder in the main mining and oil projects. This direct exposure implies risks, as the authorities relied on external financing to contribute their share of investment costs in recent projects, in some cases contracting expensive loans and increasing public debt. A debt sustainability analysis concluded that this new borrowing contributed to a rise in Niger’s risks of debt distress from low to moderate.
Natural resource revenues are expected to increase available resources but also expose the country to commodity price volatility. In the medium term, Niger would benefit from adopting a fiscal strategy to confront adverse shocks and stabilize expenditure.
Oil, Uranium Projects Brighten Medium-term Prospects in Niger
By Clara Mira
IMF African Department
December 19, 2011
Higher natural resource revenues to improve fiscal, external position
Resources earnings should be leveraged into faster growth and poverty reduction
Negotiations with IMF on new program expected to start soon
A new crude oil processing project and rising uranium production are set to boost Niger’s economic growth from next year, the IMF said in its regular review of the West African nation’s economy.
Higher natural resources revenues should also help improve Niger’s fiscal and external position in the medium term.
An integrated oil project that includes extraction and refining of 20,000 barrels per day of crude oil is due to start operations in 2012. A new uranium mine that will make Niger the world’s second-largest uranium producer is scheduled to start production by 2014.
IMF Managing Director Christine Lagarde arrived in Niger during her December 18-22 trip to Africa. Her itinerary included a meeting with President Mahamadou Issoufou and taking part in a cabinet meeting focused on “The Challenges of Economic Development in Niger”. She addressed the National Assembly, and met with representatives of various financial institutions and the private sector.
Mining exports
Niger’s oil and mining exports are projected to show triple growth between 2011 and 2016, boosting government revenue from natural resources. These large projects are expected to improve Niger’s fiscal and external position in the medium term, creating favorable conditions for growth and poverty reduction. Niger’s GDP growth is forecast to soar to 14.1 percent in 2012 from a projected 3.8 percent in 2011.
Niger’s main priority in the period ahead is to leverage the expected scaling up of oil and mining production to accelerate growth and poverty reduction. The IMF review said Niger’s new government has adopted an ambitious development strategy, based on the use of oil and mining revenue to finance public investment in infrastructure, agriculture, health, and education.
IMF missions visiting Niger urged careful management of natural resources, medium-term planning of the public investment program, continued fiscal reform to enhance domestic revenue collection and improve the efficiency of expenditure, and measures to improve the business climate.
Libya crisis effects
Despite its natural resource endowment, Niger remains a low-income country. Its economy remains highly dependent on rain-fed agriculture and vulnerable to external shocks. The country relies substantially on external assistance.
A democratically elected government took office in April 2011, and Niger’s relations with international donors normalized. The crisis in Libya triggered the return of tens of thousands of Nigerien workers, leading to a decline in Niger’s remittances from abroad.
Budget implementation remained on course through August 2011, with revenue exceeding targets and expenditure in line with projections. The 2012 budget is expected to maintain a sound fiscal position while substantially increasing public investment. The impact of rising global food prices on inflation has remained modest thus far.
Niger’s three-year program with the IMF, supported by the Extended Credit Facility, expired in June 2011. Program implementation had been on track initially, but was interrupted by a military coup in February 2010.
Following the recognition of the transitional government in September 2010, the IMF resumed normal engagement with the authorities; but efforts to complete further reviews under the arrangement were constrained by the complex political situation. The new authorities have expressed their interest in negotiating a follow-up program as soon as possible. Negotiations on a new program are expected to start shortly.
Fuel subsidy costs
In 2010, the cost for Niger of subsidizing fuel reached about 1 percent of GDP. These subsidies were not only costly but ill targeted, since they did not benefit the poorest segments of the population. Since June 2011, the government adopted a strategy to gradually eliminate the subsidies, while adopting mitigating measures to protect the urban poor from increases in transportation costs.
The authorities have recently decided to pass part of the benefits of the new oil production to domestic consumers in the form of lower prices at the pump. The extent of the subsidies is, however, limited: the agreed prices are expected to be about 14 to 17 percent below import prices.
Natural resource management
Enhancing transparency in the management of natural resources has been the focus of interest for the authorities and society. As a result, Niger’s 2010 constitution requires the publication of all contracts for the exploration and exploitation of natural resources. Niger is actively engaged in the Extractive Industries Transparency Initiative and was declared in compliance with the standards of the initiative in March 2011.
The state is directly involved as co-shareholder in the main mining and oil projects. This direct exposure implies risks, as the authorities relied on external financing to contribute their share of investment costs in recent projects, in some cases contracting expensive loans and increasing public debt. A debt sustainability analysis concluded that this new borrowing contributed to a rise in Niger’s risks of debt distress from low to moderate.
Natural resource revenues are expected to increase available resources but also expose the country to commodity price volatility. In the medium term, Niger would benefit from adopting a fiscal strategy to confront adverse shocks and stabilize expenditure.
Friday 6 January 2012
URU:LSE URU Metals Drilling Campaign Advances at Irhazer in Niger
URU Metals LSE:URU, the London listed uranium exploration company is today advancing its drilling campaign at its highly prospective Irhazer permit in Niger. The programme is targeting 3,200 metres, with the main object being to verify the extension of the mineralized zone discovered in previous campaigns and to assess its importance. Previous drilling confirmed the presence of a northern extension of mineralisation of uranium at Irhazer and the continued programme is targeting the down lifted compartment. The company is expected to publish results in Q2 2012 latest.
Brazilian Gold Corp BGC:TSX.V Positive Analyst Coverage
BRAZILIAN GOLD CORP BGC : TSXV SHARES ADVANCING
FOLLOWING ENCOURAGING ASSAY RESULTS FROM FLAGSHIP SAO JORGE
By Sara Patterson
Executive Vice President, Windward Global
With January 2012 off to a strong start—at the time of this commentary gold is over US $1,600 and the major indices are firmly in the green—a bullish tone seems to be set for the new year, carrying the upward trend of 2011’s natural resource sector forward. While this tone undoubtedly creates opportunity for active exploration and development companies, an established and sustained momentum is not only preferable but critical. And such momentum was gained or lost long before the ball dropped.
Brazilian Gold Corporation, however, has kept the ball rolling. Its momentum began in early 2011 with the commencement of a drill program at its Sao Jorge project in the Tapajos region of northern Brazil, and carried strongly into late December with the announcement of 10 additional drill holes. Significant intersections include 54 meters grading 1.24 g/t gold; please see the company’s news release dated Dec. 19 2011 for a complete list of assay results. The drill program continues to intersect wide zones of alteration and gold mineralization down dip and along strike of historic drilling, underscoring the project’s potential for ongoing growth and expansion. Further, an induced polarization resistivity high is identified along strike of the deposit to the southeast for 1.5 km, suggesting that additional gold mineralization might be identified in the future.
This encouraging program has critical implications for the project as a whole, as it will be used along with historic drill data in the completion of a new resource estimate by the end of the first quarter of 2012. The ongoing drill results continue to confirm additional intersections at similar thickness and grade as the previously reported resource (Coffey Mining, June 2011), fitting well with the company’s objective of increasing overall potential mine life and production rate with additional resources. In addition to drilling, Brazilian Gold has also initiated metallurgical testwork, geotechnical studies and environmental baseline work to advance Sao Jorge further.
Data compiled at Sao Jorge during 2011 has both contributed to a greater understanding of the deposit’s geology and lent itself to use in upgrading the confidence level and potential size of the next resource estimate.
Coupled with excellent existing infrastructure, including access to paved roads, a skilled workforce, and access to extremely economical power—Sao Jorge can utilize the low-cost hydroelectric energy grid, as opposed to costly diesel-generated power—this comprehensive level of work continues to build the momentum of the project. Key tax incentives in Sao Jorge’s Pará state, including an income tax reduction of nearly 15% for 10 years, underscore the inherent opportunity of the region.
Assay results from the final 13 holes of the 2011 drill program are pending, and Brazilian Gold is currently reviewing the results of the full 2011 program. Targets identified from soil and IP anomalies will be evaluated and prioritized for early 2012 drill testing, carrying Sao Jorge’s progress definitively forward into the new year.
The following is from a press release issued by Brazilian Gold Corporation on Dec. 19, 2011.
Brazilian Gold Corporation (TSXV: BGC) is pleased to report assay results for an additional 10 holes from the 2011 drill program on the São Jorge project in the Tapajós region of northern Brazil. The drill program (37 holes in 14,418 m) was completed the second week of December. Assay results from the first 13 holes were previously reported on January 18th, June 30th and October 24th 2011; assay results from final 13 holes are pending. Results from this drill program along with historic drill holes (108 holes in 22,446 m) will be used in an updated NI43-101 resource estimate.
Highlights
Significant gold intersections include:
SJD-096-11: 1.77 g/t over 4 m (42 to 46 m) and 4.37 g/t over 4 m (106 to 110 m),
SJD-097-11: 1.24 g/t over 54 m (187 to 241 m),
SJD-101-11: 1.79 g/t over 16 m (38 to 54 m) and 1.84 g/t over 8 m (74 to 82 m),
SJD-102-11: 1.21 g/t over 14 m (130 to 144 m), and
SJD-103-11: 2.28 g/t over 11 m (130 to 144 m)
Drill program continues to intersect wide zones of alteration and gold mineralization down dip and along strike of historic drilling.
An induced polarization (IP) resistivity high with or without a coincident chargeability high is identified along strike of the São Jorge
deposit to the southeast for 1.5 km suggesting potential to identify additional gold mineralization.
The São Jorge project is well situated with respect to infrastructure. It is located approximately 70 km north of the town of Novo Progresso on Highway BR163 that connects the city of Cuiaba in Mato Grosso state with the port city of Santarem on the Amazon River. The highway is currently being asphalted with approximately 30 km remaining to be completed between São Jorge and Novo Progresso. As well as having tarred road access, the project is connected to the electric power grid and a skilled work force is available in Novo Progresso, which has a population of approximately 60,000 people.
The São Jorge deposit is 1,300 m long by up to 200 m wide and has been intersected in drill holes to 350 m depth; the deposit strikes northwest and has a sub-vertical dip. Alteration and mineralization appears to be spatially associated with a number of discontinuous shear and fracture zones within granitic host rocks. Alteration minerals include chlorite, epidote, sericite, silica and sulphides that occur as disseminations, fracture controlled or pervasive alteration. The predominant sulphide is pyrite with minor amounts of chalcopyrite. Gold mineralization is commonly associated with silica+sericite+sulphide alteration and higher gold values are generally associated with higher pyrite content and the presence of chalcopyrite.
Drill holes reported in this news release are angle holes that have been drilled on north-south sections spaced 50 m apart. The drill holes were infill holes that targeted the eastern part of the deposit up to 250 m below surface. All drill holes in this news release except for drill hole SJD-098b-11 and SJD-105-11 intersected significant intervals of alteration and gold mineralization.
Brazilian Gold is currently reviewing the results of its extensive exploration program (drilling, soil geochemistry and IP) completed in 2011. Resistivity and chargeability anomalies, some of which are similar in orientation and amplitude, as those observed over the São Jorge deposit have been outlined in a recently completed 120-line kilometre survey. Gold in soil anomalies are coincident with many of the IP anomalies. Targets identified from this work are currently being evaluated and prioritized for drill testing early in 2012.
Disclaimer:
The Resource Stock Watch is wholly owned by The Windward Agency, Corp., a public relations and investor relations firm based in the United States of America. The Windward Agency collects a monthly consulting fee from the featured firm and this document is presented solely as a baseline research vehicle. It is not an offer to buy nor sell the featured security. This publication does not make buy or sell recommendations as a matter of established policy. Further, no investment decision should be made without first consulting with a registered investment advisor. The data herein is compiled using data furnished by the featured firm as well as from third-party research and commentary sources.
Thursday 5 January 2012
TAIA LIon Resources Welcomes Sierra Leone's Efforts to Increase Power Supply
TAIA Lion Resources, the fast track developer of the highly prospective Lake Sonfon and Gori Hills gold projects in Sierra Leone, welcomes the efforts of the Sierra Leone Government in creating positive conditions for the continued investment in power generation.
The addition of 15MW of new power to the national grid in 2013 through the privately developed Makeni Ethanol and Power Project signals the positive investment climate currently underway in Sierra Leone.
On a national scale, Phase Two of the Bumbuna Hydroelectric Project is set to more than quadruple the West African country's generation capacity by 2017, providing mine developers like TAIA with plenty of confidence that by the time they require the power for mine development, it is likely to be on stream.
The government of Sierra Leone has signed a memorandum of understanding with Joule Africa, a member of the California-based Joule Investments Group, to add 350 Megawatts of generation capacity to the facility in the center of the country.
The deal is expected to cost $750 million, 75 percent financed by debt, the remainder by equity. It was announced by Sierra Leone's Deputy Minister of Information Sheka Tarawalie at a news conference in Freetown in May 2011
The addition of 15MW of new power to the national grid in 2013 through the privately developed Makeni Ethanol and Power Project signals the positive investment climate currently underway in Sierra Leone.
On a national scale, Phase Two of the Bumbuna Hydroelectric Project is set to more than quadruple the West African country's generation capacity by 2017, providing mine developers like TAIA with plenty of confidence that by the time they require the power for mine development, it is likely to be on stream.
The government of Sierra Leone has signed a memorandum of understanding with Joule Africa, a member of the California-based Joule Investments Group, to add 350 Megawatts of generation capacity to the facility in the center of the country.
The deal is expected to cost $750 million, 75 percent financed by debt, the remainder by equity. It was announced by Sierra Leone's Deputy Minister of Information Sheka Tarawalie at a news conference in Freetown in May 2011
Wednesday 4 January 2012
BGC Brazilian Gold Shares Continue to Advance
Brazilian Gold Corporation, BGC:TSX.V Shares Advance 15% on early trading Wednesday
Tuesday 3 January 2012
BGC: TSX:V Shares advance 6% on heavy buying
Investors turn their attention to Brazilian Gold Corp as market momentum picks up on the growing interest in the Sao Jorge gold project in Northern Brazil, where recent positive drill results indicate a strong potential to significantly add to the current confirmed NI43-101 compliant resource classified according to CIMM standards (Canadian Institute of Mining and Metallurgy) Shares advance over 6% on early trading Tuesday!
TAIA Lion Resources Boosted by Rapidly Improving Infrastructure in Sierra Leone
TAIA Lion Resources the fast track developer of the highly prospective Gori Hills and Lake Sonfon gold projects in Sierra Leone is boosted by the rapidly improving infrastructure currently underway in country.
Back off the news that the UAE has signed an open skies agreement with the Government of Sierra Leone, paving the way for direct commercial flights between Freetown and Abu Dhabi / Dubai, the news that Hilton Hotels and Resorts is set to open a brand new resort hotel in 2014 in Freetown, the country’s capital provides a further boost to investors who are seeing a rapid transformation underway in Sierra Leone with day by day improvements to facilities and infrastructure.
The 200-room Hilton Freetown Cape Sierra will overlook the coastline of this western African nation, at the mouth of one of the world’s largest natural harbors. The property will feature a business center, health club, outdoor pool, five restaurants and bars.
Added to the Hilton news was the announcement by the highly respected Rezidor Hotel Group that they re-developed the Mammy Yoko Hotel, also in Sierra Leone’s capital Freetown. The hotel will open for guests this year under their Radisson Blu brand, offering 171 rooms, a restaurant with outdoor terrace, several bars, meeting rooms, an outdoor swimming pool, tennis courts, duty free shopping and a gym.
The 200-room Hilton Freetown Cape Sierra
©Hilton Hotels Group
Back off the news that the UAE has signed an open skies agreement with the Government of Sierra Leone, paving the way for direct commercial flights between Freetown and Abu Dhabi / Dubai, the news that Hilton Hotels and Resorts is set to open a brand new resort hotel in 2014 in Freetown, the country’s capital provides a further boost to investors who are seeing a rapid transformation underway in Sierra Leone with day by day improvements to facilities and infrastructure.
The 200-room Hilton Freetown Cape Sierra will overlook the coastline of this western African nation, at the mouth of one of the world’s largest natural harbors. The property will feature a business center, health club, outdoor pool, five restaurants and bars.
Added to the Hilton news was the announcement by the highly respected Rezidor Hotel Group that they re-developed the Mammy Yoko Hotel, also in Sierra Leone’s capital Freetown. The hotel will open for guests this year under their Radisson Blu brand, offering 171 rooms, a restaurant with outdoor terrace, several bars, meeting rooms, an outdoor swimming pool, tennis courts, duty free shopping and a gym.
Deriving its name from Mammy Yoko, the leader of the Mende people in Sierra Leone in the second half of the 19th century, the hotel was damaged during the country’s civil war, and has undergone a complete overhaul.
Commenting on these new developments CEO of TAIA Lion Ari Untracht said
"Its amazing the progress currently underway in Sierra Leone, we are truly witnessing a remarkable transformation in the country's fortunes. These new hotel investments coupled with the potential to add more direct commercial flights to Freetown, set against major improvements in power supply plus the building and re-furbishment of the highways all adds to the growing optimism about Sierra Leone as a rising star in West Africa's economic development"
©Hilton Hotels Group
Monday 2 January 2012
Brazilian Gold Corp São Jorge Resource Extension
São Jorge is Brazilian Gold’s most advance stage project. The deposit is host to an NI43-101 compliant indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of contained gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of contained gold) at a 0.3 g/t cut-off (Coffey Mining, July 15, 2011).
The project has established infrastructure including road access and hydro electrical power.
The focus of the 2011 / 2012 exploration program will be to expand the existing São Jorge resource and identify new areas of mineralization on this large, unexplored property,
Recent drilling results shwed the existence of further mineralization and that the São Jorge resource would likely extend beyond its currently confirmed mineral resource estimate. The latest results showed significant gold intersections including:
SJD-096-11: 1.77 g/t over 4 m (42 to 46 m) and 4.37 g/t over 4 m (106 to 110 m),
SJD-097-11: 1.24 g/t over 54 m (187 to 241 m),
SJD-101-11: 1.79 g/t over 16 m (38 to 54 m) and 1.84 g/t over 8 m (74 to 82 m),
SJD-102-11: 1.21 g/t over 14 m (130 to 144 m), and
SJD-103-11: 2.28 g/t over 11 m (130 to 144 m)
The project has established infrastructure including road access and hydro electrical power.
The focus of the 2011 / 2012 exploration program will be to expand the existing São Jorge resource and identify new areas of mineralization on this large, unexplored property,
Recent drilling results shwed the existence of further mineralization and that the São Jorge resource would likely extend beyond its currently confirmed mineral resource estimate. The latest results showed significant gold intersections including:
SJD-096-11: 1.77 g/t over 4 m (42 to 46 m) and 4.37 g/t over 4 m (106 to 110 m),
SJD-097-11: 1.24 g/t over 54 m (187 to 241 m),
SJD-101-11: 1.79 g/t over 16 m (38 to 54 m) and 1.84 g/t over 8 m (74 to 82 m),
SJD-102-11: 1.21 g/t over 14 m (130 to 144 m), and
SJD-103-11: 2.28 g/t over 11 m (130 to 144 m)
BGC:TSX,V Brazilian Gold Corporation, stock advances 20% on heavy buying
Brazilian Gold Corporation BGC:TSXV, the fast track developer of large scale gold projects in northern Brazil sees its share price rise by 20% on heavy buying as investors are buoyed by the recent positive drill resorts that have the potential to confirm a significant resource extension at the flagship Sao Jorge project.
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