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.