Brazilian Gold Commences Phase Two Drill Program on the Batistão Project
25 September 2012 - 9:00PM
Business Wire
Further to its successful Phase One drill program (News Release
12/12, May 30, 2012), Brazilian Gold Corporation (TSXV: BGC) is
pleased to announce the start of the Phase Two drill program on its
wholly owned Batistão project located approximately 30 km southwest
of the town of Peixoto de Azevedo in Brazil’s northern Mato Grosso
state. This region was the focus of a gold rush in the 1980’s where
5 million ounces of unofficial production, mostly from shallow
alluvial and laterite workings, is reported to have taken place.
The region benefits from excellent infrastructure including road
access, electrical power and the availability of a local skilled
workforce.
Ian Stalker, CEO of Brazilian Gold, commented “We are delighted
the Phase One drill program confirmed the results of the historic
drilling on the Batistão project and contingent on the results of
the Phase Two program expect to be in a position to complete an
initial resource estimate on this deposit soon after the drill
program is completed. Resources from this project will add to the
two gold discoveries (Jau deposit – Surubim project and VG1 deposit
– Boa Vista project) by Brazilian Gold and subsequent resource
estimates, as well as the expansion and upgrading of gold resources
on the Company’s flagship São Jorge project in 2011. In a
relatively short time period, the Company has increased its global
gold resource ounces by 114% and indicated resource ounces by
43%.”
Batistão Phase Two Program
- The Phase Two drill program (900 m)
will follow up on encouraging results intersected in the Phase One
program that included 20 m grading 2.02 g/t gold within a larger
interval of 43 m grading 1.10 g/t gold (BTD-003-12).
- The program is designed to infill the
current 200 m spaced sections to 100 m spacing from surface to
approximately 100 m depth along the eastern part of the deposit
(500 m strike length).
- The deposit is coincident with a
gold-in-soil anomaly that is approximately 2,000 m long and open in
both directions.
- Concurrent with the drill program, a
small soil sampling program will be completed to close off the
gold-in-soil anomaly along strike.
The Batistão target was previously explored by a major
Australian mining company from 1992 to 1995. The gold
mineralization was discovered during a regional stream sediment
program and was delineated by soil sampling, geophysics, auger
drilling (109 holes in 762 m) and short reverse circulation (RC)
drill holes (24 holes in 1,287 m). The program outlined a west to
northwest trending gold-in-soil anomaly that is over 2,000 m in
length. Short RC holes tested 500 m of this strike length to a
depth of approximately 50 m; the mineralized zone is up to 30 m
thick and is open in all directions. Gold mineralization is
associated with sericite-silica-sulphide altered granitic rocks;
sulphide minerals include pyrite (
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