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
Wednesday, 25 January 2012
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.
Subscribe to:
Posts (Atom)