Brazilian Gold Intersects 4 m Grading 8.06 g/t Within a Thicker Interval of 78 m Grading 0.97 g/t Gold at the Boa Vista Project, Brazil
Release No. 4/12
Vancouver, BC, February 22, 2012
Vancouver, BC, February 22, 2012
Brazilian Gold Corporation (TSXV: BGC) is pleased to report assay results for the first 5 holes of the Phase Two drill program (approx. 2,500 m) on the VG1 target (Boa Vista project) in the Tapajós region of northern Brazil. Gold mineralization at the VG1 target was intersected by Brazilian Gold and their joint venture partners, Octa Mineração Ltda. and D'Gold Mineral Ltda., in the first quarter of 2011. The discovery hole tested the eastern part of a 2 km long gold in soil anomaly and intersected 1.43 g/t gold over its entire length of 102.3 m and ended in mineralization. The road accessible project is located approximately 170 km southwest of the town of Novo Progresso, which is located along the recently paved BR163 highway.
Highlights
- VGD-009-11 intersected 4 m grading 8.06 g/t gold within a larger mineralized envelope of 78 m grading 0.97 g/t gold.
- VGD-009-11 is located approximately 80 m east of previously reported drill hole VGD- 001-11, which intersected 29.6 m grading 3.09 g/t and 13.58 m grading 2.80 g/t gold within a larger mineralized envelope of 102.3 m grading 1.43 g/t gold; VGD-001-11 ended in mineralization.
- The nine holes completed in this program at VG1 have intersected wide intervals of alteration and mineralization over a strike length of 600 m; assays for 4 holes pending.
- Near surface gold mineralization at the VG1 target has the potential to be mined by low cost open pit extraction.
- VG1 target represents one of several highly prospective gold targets identified on the Boa Vista project.
- Induced polarization (IP) survey (approx. 60 line km) is currently in progress.
- IP survey has identified resistivity + chargeability anomalies coincident with a 2 km long ridge formed by silica veined and brecciated rock at the Planalto target.
| Table 1: Drill results from the VG1 target, Boa Vista project. | |||||
|---|---|---|---|---|---|
| Hole ID | Section | From (m) | To (m) | Interval (m)* | Au g/t |
| VGD-006-11 | 600-VG | 50.00 | 54.00 | 4.00 | 1.05 |
| VGD-006-11 | 600-VG | 158.00 | 186.00 | 28.00 | 0.41 |
| VGD-007-11 | 600-VG | 34.00 | 42.00 | 8.00 | 0.42 |
| VGD-007-11 | 600-VG | 74.00 | 82.00 | 8.00 | 2.11 |
| VGD-007-11 | 600-VG | 230.00 | 261.30 | 31.30 | 1.06 |
| VGD-008-11 | 500-VG | 58.50 | 65.00 | 6.50 | 0.75 |
| VGD-009-11 | 400-VG | 92.00 | 170.00 | 78.00 | 0.97 |
| Includes | 400-VG | 140.00 | 144.00 | 4.00 | 8.06 |
| VGD-010-11 | 300-VG | 89.00 | 101.00 | 12.00 | 0.53 |
* True thickness uncertain at this time.
Ian Stalker, CEO of Brazilian Gold, commented "The Company is delighted with these encouraging drill results from the Boa Vista project. The VG1 target is developing nicely into a bulk open pit mining scenario evident by the drill intersections received to date along the 2 km long anomaly. The attractive grades and thicknesses reported suggest a positive economic opportunity. It is also positive to note the number and quality of our other targets at the Boa Vista project.
In addition to the current drill program on VG1, we are completing an IP survey over a number of the high priority targets on the project. At Planalto, the survey has identified a number of coincident high resistivity and chargeability targets that underlay the silica veined and brecciated rock that has been mapped on surface for a distance of over 2 km. Once the drilling has been completed at VG1, the drill will be moved to Planalto to test this high priority target before demobilizing the drill rig to the Batistão project. The Batistão project is located in the Alta Floresta Gold Province approximately 325 km southeast of the Boa Vista project in northern Mato Grosso state".
Drill holes reported in this News Release are located on four sections spaced approximately 100 m apart; the drill holes were drilled at azimuth 020° and an inclination of -55°. All drill holes intersected significant thicknesses of alteration and mineralization hosted in foliated granitoid and mafic volcanic rocks.
The VG1 prospect was discovered in May 2010 when coarse visible gold was identified in surface rock samples. Since that time, soil geochemistry and geophysics (IP and magnetics) has outlined an anomaly that is 2 km in length, up to 350 m in width and trends east-west. A follow-up trenching program was completed over the eastern half of this anomaly that included the original discovery area and the highest gold in soil values. The trenching program identified a number of silicified and sulphide (oxide) zones that are meter's to 10's of meter's in width and trend parallel or sub-parallel to the gold in soil anomaly. The Phase One drill program (609 m in 5 holes) comprised of a northeast fence of one vertical hole and three angle holes, which intersected wide intervals of gold mineralization and alteration with the best hole, VGD-001, grading 1.43 g/t gold over its entire length off 102.3 m and ended in mineralization. The current drill program will test seven sections spaced 100 m apart both east and west of the discovery holes.
An IP survey (60 km) is currently in progress over the numerous targets on the project. Recent survey results over the Planalto target has identified resistivity + chargeability anomalies coincident with a ridge that is underlain by multi-episodic quartz veined, silicified and brecciated rock; the ridge trends north-south and is over 2 km long. Some of these anomalies will be drill tested once drilling has been completed at VG1.
