Brazilian Gold Corporation (TSXV: BGC, "Brazilian Gold" or the "Company") is pleased to report assay results for the final 11 holes of the 2011 drill program on the Surubim project (Jau target) in the Tapajós region of northern Brazil. Gold mineralization at the Jau target was discovered by Brazilian Gold in the first quarter of 2011 and has been intersected in drill holes (20 holes in 6,203 m) over a strike length of 700 m and up to a depth of 250 m below surface; the mineralization is open at depth and to the west. The target is located approximately 65 km southwest of the Company’s advance stage São Jorge project and is accessed by the Transgarimpeiro Highway.
- JAD-012-11 intersected 1.35 g/t gold over 12 m,
- JAD-013-11 intersected 0.85 g/t gold over 82 m that includes a higher grade interval of 13.8 g/t gold over 4 m,
- JAD-018-11 intersected 3.39 over 4 m, and
- JAD-019-11 intersected 1.16 g/t gold over 12 m (See table below for a complete set of drill intersections).
- Jau target represents one of several highly prospective gold targets identified on the Surubim project.
- Soil geochemistry and mapping currently underway on the Mariazinha target.
Table 1: Drill results from the Jau target, Surubim Project.
|Hole ID||Section||From (m)||To (m)||Interval (m)*||Au g/t|
*True thickness is approximately 70-80% of drill interval.
Note: The large composite intervals are a result of several narrow high grade veinlets within an interval that is anomalous in gold.
Ian Stalker, CEO of Brazilian Gold, commented “The Company is delighted to have discovered gold mineralization in its first holes at the Jau target. The drill program has outlined substantial near surface gold mineralization that has the potential for low cost open pit extraction. The Company is currently evaluating the continuity of the mineralization to determine if the drill spacing is sufficient for an independent NI43-101 inferred resource estimate to be completed at this time, which would further add to the updated NI43-101 resource estimate for our São Jorge project due to be completed this quarter. In addition to drilling at Jau, we have been busy with geochemical and mapping programs at the Mariazinha target, which is located 15 km northeast of Jau, as well as reviewing the results of the airborne geophysical survey completed in Q3 2011 that we expect to generate a number of high priority targets for follow-up exploration.”
The 2011 drill program was designed to test an east-west trending chargeability and magnetic anomaly that was coincident with auriferous quartz-sulphide veins exposed in an historic garimpeiro pit. Twenty drill holes (6,203 m) were completed on ten sections (7900E to 8800E) space 100 m apart; the holes were drilled towards the north or south at -55 to -60°.
The drill holes intersected an east-west striking, steeply dipping mineralized zone hosted in felsic volcanic (ignimbrites) and granitoid rocks. The mineralized zone is up to 70 m thick and is comprised of quartz+calcite+sulphide veinlets with envelopes of sericite-silica-pyrite; sulphides include pyrite, sphalerite, galena and chalcopyrite. Drilling has delineated the zone over a strike length of 700 m and up to 250 m below surface; it is open at depth and to the west.
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 one 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).
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.
Ian (John) Stalker, CEO and Director
Joanne Yan, President and Director
Tel: +1 604-602-8188
Tom Hart, +1 403-701-4278
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