Brazilian Gold Intersects 86 Metres Grading 1.37 Grams/Tonne Gold and Adds Second Drill Rig at Sao Jorge
19 January 2011 - 1:00AM
Marketwired
Brazilian Gold Corporation (TSX VENTURE: BGC) ("Brazilian Gold" or
the "Company") is pleased to announce partial assay results for the
first hole of the Phase One (5,000 m) diamond drill program on the
Sao Jorge project. Drill hole SJD-085-10 intersected 1.37
grams/tonne gold over 86 metres starting at 363 metres depth. The
hole was collared on section 657250E and drilled towards AZ330
degrees at -55 degrees; the intersection is approximately 55 metres
in true width and 90 metres below previous drilling midway along
the strike of the deposit. The hole was suspended at 462 metres
depth for Christmas holidays and drilling resumed the second week
of January when the drillers returned from break.
Concurrent with the drill program, the Company has begun a
program of infill sampling where intervals not previously sampled
in historic drill holes are sampled. These un-sampled intervals
fall between previously sampled mineralization and within the grade
shell (0.3 g/t gold) of the resource estimate completed by Coffey
Mining (Sept. 14, 2010), where they were given an arbitrary value
of 0.01 grams/tonne gold. The sampling of these intervals is
expected to have a positive effect on the overall grade and
contained ounces for the deposit.
Assay results for drill hole SJD-030-05, the first hole of the
infill sampling program returned 8 metres (5 m true width) grading
1.10 grams/tonne gold starting at 177 m depth and 53 metres (30 m
true width) grading 1.06 grams/tonne starting at 235 metres depth;
these intervals include assays from the historic sampling as well
as new sampling by Brazilian Gold. Drill hole SJD-030-05 is located
on section 657250E and drilled towards AZ360 degrees at -55 degrees
for a total length of 292.4 metres.
Mr. Alvin Jackson, Chairman and CEO of Brazilian Gold, stated,
"The Company is encouraged with these initial results and it shows
that mineralization with similar grade and thickness was
intersected 90 metres below previous drilling. There is
considerable potential to increase the existing resource if the
Phase One drill program encounters similar results along the entire
strike length of the deposit."
The Company added a second drill rig to the project the
beginning of January to reduce the time necessary to complete the
Phase One program and its desire to aggressively advance the
project so that an updated NI 43-101 resource estimate can be
completed in 2011. A Phase Two drill program will test the strike
potential northwest and southeast of the existing deposit once an
induced polarization survey has been completed.
The Phase One drill program, as previously described in News
Release 19/10 (Nov. 24th, 2010), is designed to test the down dip
extension of the existing resource, which extends from surface to
approximately 200 metres depth, to 300 metres below surface. The
inclined holes will be collared from the south side of the deposit
and drilled towards the north along sections spaced 50 metres apart
and will range from approximately 300 to 500 metres in length.
Laboratory Procedures
Drill core is sampled at 2 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 for gold fire assay. Acme Analytical Laboratories
Ltd. is an internationally certified ISO 9001 laboratory. Brazilian
Gold's Quality Assurance - Quality Control Program involving the
insertion of appropriate blanks, standards and duplicates was
employed with acceptable results.
Garnet Dawson, M.Sc., P.Geo. (British Columbia), Vice President,
Exploration for the Company and a Qualified Person, as defined by
National Instrument 43-101, has reviewed and approved the technical
disclosure contained in this News Release.
About Brazilian Gold Corporation
Brazilian Gold Corporation is a Canadian based public company
with a focus on acquisition, exploration and development of mineral
properties in the Tapajos region of Northern Brazil. The Company
has nine exploration projects in the Tapajos with drill programs
currently underway on the Sao Jorge and Boa Vista projects. Sao
Jorge hosts an NI 43-101 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).
Brazilian Gold owns a 75% interest in the Rea Uranium Project in
northeastern Alberta, which is currently being operated by AREVA,
who are earning up to a 50% interest by completing an additional
Cdn$2.84 million in expenditures by Dec. 31, 2013.
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include
without limitation the completion of planned expenditures, the
ability to complete exploration programs on schedule and the
success of exploration programs.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or the
accuracy of this news release.
Contacts: Brazilian Gold Corporation Alvin Jackson Chairman and
CEO +1 604 602-8188 Brazilian Gold Corporation Investor Relations
Tom Hart +1 403 701-4278
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