VANCOUVER,
Sept. 6, 2012 /PRNewswire/ - Brazil
Resources Inc. (the "Company" or "Brazil Resources") (TSX-V: BRI)
(OTCQX: BRIZF) is pleased to announce that recent rock sampling,
geophysical and soil geochemical surveys at its Artulândia project
have identified an anomalous copper gold zone of approximately
1,000m by 250m, which is open in all directions. The
Artulândia project covers 12,000 acres within the Company´s 247,000
acre Pireneus district and is located in Goias state, one of the
most prolific mining districts in Brazil.
Stephen Swatton,
President and CEO, stated, "Our geological team believes Artulândia
has the potential to be a significant discovery, made with a modest
budget in an area that has not had previous mining or exploration
activity. Based on preliminary exploration data, similarities are
being drawn with Yamana's Chapada Copper-Gold Mine to the north.
However, we acknowledge that the Artulândia project is in the early
stages of exploration and, therefore, more work, including
drilling, needs to be done to fully realize and understand this
project."
Highlights from the new results obtained at
Artulândia include:
- Target ART-1; Further follow-up work completed on target area
ART-1 has confirmed new mineralized outcrops, with increased copper
values of up to 0.81%, gold values of up to 2.3 g/t and silver
values of up to 344 g/t, plus additional anomalies of lead-zinc. A
geophysical survey has identified a main IP anomaly trending along
strike for approximately 400m, which coincides with the
geochemically defined gold-copper zone identified by previous soil
and rock chip sampling. ART-1 is considered a priority, and the
next phase of exploration is expected to include diamond drilling
of this target. Geochemical sampling indicates that the
mineralization extends for an additional 600m to the east of the
main IP anomaly (Targets ART-2 and ART-3).
- Target ART-5; A new zone located approximately 750m NE of ART-1
has been discovered comprising gossans trending along strike for
approximately 700m. These gossans are similar to those found at
target area ART-1. A total of 50 rock geochemical samples
have been collected from target area ART-5 and sent to the
laboratory to confirm the presence of mineralization.
In its news release dated April 26, 2012, Brazil Resources announced the
first results of a geochemical sampling program at Artulândia and
identified eight target areas (ART-1 to ART-8) with elevated
copper, gold, lead and zinc values surrounding a large intrusive
granitoid with rock grab sample results of up to 1.2 g/t gold, 0.7%
copper and greater than 2% lead-zinc in separate samples.
Since May 2012,
follow-up geochemical sampling and detailed geological mapping
programs have been completed on target areas ART-1 and ART-
5. In addition a geophysical IP/Mag ground survey has been
completed and a trenching program has been initiated at ART-1. To
date, assay results are available for a total of 603 rock grab
samples, 1,581 soil samples and 62 stream sediment collected from
target areas ART-1 and ART-5.
Based on petrographic and detailed geochemical
and geophysical data interpretation, Company geologists believe the
geology at Artulândia may be a porphyry copper deposit. Therefore
comparisons are being drawn with the Chapada Mine operated by
Yamana Gold, which is located approximately 140 km north of the
Artulândia project. Chapada produced 135,000 oz of gold and 166
million pounds of copper in 2011 as publicly disclosed by Yamana.
Readers should be aware that the comparison to Chapada contained
herein is based on preliminary exploration by the Company to date
and substantial additional exploration is required to define the
extension, continuity and geology of the mineralized zones at
Artulândia, which does not currently have any defined resources,
and, therefore, the results at Chapada are not necessarily
indicative of the potential of the Artulândia project.
The geophysical survey was performed by Fugro
Geophysics, and processed by Reconsult Geofísica. The
IP-resistivity survey comprised 7.65 line kms, and the magnetics
survey comprised 23.35 line kms. The grid lines were oriented
north-south and each line was 100 meters apart.
Future Work:
The Company plans to further its exploration efforts on all the
remaining targets. A diamond drill program to investigate Target 1,
and possibly Targets 2 and 3, is currently under consideration.
Targets ART-4, ART-5 and ART-6 have been outlined by the recent
geophysical survey and will be investigated by additional rock
sampling and mapping. The current geochemical/geophysical results
only represent the investigation of two targets (ART-1 and ART-5)
of the eight geochemical targets initially identified by the
Company.
FIGURES 1 and 2 - Geophysical
(IP-Magnetic) Targets ART-1 to ART-6 plotted over Mag
Analytical Signal Grid Image (left) and IP anomalies trends over Cu
in rock/soil geochemical anomaly (right).
Click here to view Figure 1
Click here to view Figure 2
Target 1 is defined by a 400m long high IP
trend, the inversion sections show that this trend could be dipping
from west to east, going from a superficial response to a deeper
signature. This possibility, if proven correct, could add another
600m to this target, effectively extending Target 1 to the eastern
boundary of Target 2 (Figure 2).
Figure 3 - Detailed Geological Map with soil
anomalies, selected rock sample results and location of geophysical
Targets 1, 2 and 3
Click here to view Figure 3
TABLE 1 - Anomalous Rock Samples Results for
Cu-Au-Zn-Pb-Ag at Artulândia Project as of August 31, 2012
Sample |
Lithology |
Cu (ppm) |
Au
(ppb) |
Zn (ppm) |
Pb
(ppm) |
Ag (ppm) |
11904 |
Gossan |
8123 |
513 |
2512 |
8047 |
5 |
11161 |
Volcanic |
7116 |
79 |
781 |
42000 |
147 |
11907 |
Gossan |
6991 |
2329 |
6551 |
>10000 |
344 |
11145 |
Gossan |
6813 |
129 |
2152 |
1907 |
-1 |
11144 |
Gossan |
6628 |
335 |
2538 |
1375 |
18 |
11141 |
Gossan |
6350 |
1250 |
4075 |
747 |
13 |
11848 |
Gossan |
4897 |
128 |
1212 |
1248 |
15 |
11834 |
Gossan |
4182 |
84 |
697 |
695 |
8 |
11847 |
Gossan |
4126 |
210 |
894 |
1737 |
198 |
11829 |
Gossan |
3872 |
1646 |
1372 |
1620 |
19 |
11905 |
Gossan |
3728 |
792 |
3453 |
5885 |
12 |
11444 |
Laterite |
3623 |
97 |
1482 |
1619 |
9 |
11919 |
Gossan |
3458 |
247 |
1965 |
1011 |
13 |
11906 |
Gossan |
3421 |
364 |
3093 |
5003 |
10 |
11469 |
Volcanic |
3329 |
31 |
35300 |
3900 |
16 |
11897 |
Breccia |
3315 |
768 |
1194 |
2287 |
10 |
11835 |
Gossan |
3275 |
36 |
668 |
630 |
-1 |
3001 |
Quartz Vein |
2946 |
154 |
1652 |
802 |
-1 |
11928 |
Gossan |
2914 |
116 |
1836 |
1072 |
-1 |
11895 |
Breccia |
2892 |
219 |
1239 |
3219 |
1 |
11925 |
Gossan |
2828 |
198 |
2751 |
1018 |
-1 |
11828 |
Gossan |
2762 |
46 |
828 |
802 |
-1 |
11927 |
Gossan |
2636 |
170 |
3547 |
5321 |
-1 |
11933 |
Gossan |
2630 |
199 |
1979 |
967 |
16 |
11931 |
Gossan |
2591 |
176 |
2324 |
502 |
4 |
11924 |
Gossan |
2460 |
99 |
2529 |
1346 |
-1 |
11912 |
Gossan |
2373 |
262 |
1843 |
1367 |
1 |
11930 |
Gossan |
2340 |
295 |
2059 |
470 |
8 |
11900 |
Breccia |
2332 |
495 |
522 |
1729 |
6 |
11923 |
Gossan |
2297 |
148 |
1392 |
1182 |
-1 |
11898 |
Breccia |
2274 |
406 |
892 |
1761 |
5 |
11914 |
Gossan |
2272 |
1149 |
2092 |
854 |
-1 |
11899 |
Breccia |
2261 |
556 |
713 |
1544 |
4 |
11929 |
Gossan |
2257 |
61 |
1430 |
1311 |
-1 |
11932 |
Gossan |
2152 |
76 |
1828 |
534 |
5 |
11911 |
Gossan |
2146 |
186 |
1336 |
805 |
-1 |
11910 |
Gossan |
2142 |
148 |
1160 |
829 |
-1 |
1191 |
Laterite |
2075 |
1168 |
1078 |
1547 |
-1 |
11467 |
Quartzite |
1908 |
71 |
1213 |
4302 |
6 |
11934 |
Gossan |
1884 |
32 |
2326 |
411 |
123 |
11120 |
Quartzite |
1874 |
61 |
4203 |
553 |
7 |
11922 |
Gossan |
1868 |
109 |
857 |
1390 |
-1 |
11926 |
Gossan |
1847 |
122 |
1895 |
874 |
19 |
11121 |
Volcanic |
1787 |
138 |
856 |
5456 |
11 |
11921 |
Gossan |
1774 |
81 |
1659 |
1369 |
-1 |
11844 |
Gossan |
1711 |
32 |
693 |
919 |
-1 |
11167 |
Volcanic |
1620 |
49 |
1233 |
688 |
-1 |
11896 |
Breccia |
1604 |
316 |
549 |
1670 |
4 |
11833 |
Gossan |
1568 |
41 |
1172 |
483 |
-1 |
About Brazil Resources Inc.
Brazil Resources is a publicly listed mineral
exploration company with a focus on the acquisition and development
of projects in emerging producing gold districts in Brazil and other parts of South America. Currently, the Company is
advancing its Montes Áureos, Trinta and Maua Gold Projects located
in the Gurupi Gold Belt in the state of Maranhão in northeastern
Brazil, and its Pireneus Gold
Project in Goias State, in central Brazil. Brazil Resources is also seeking to
acquire and develop additional gold properties within Brazil and other locations in South America.
Note Regarding Scientific and Technical Information
Paulo Pereira,
the Company's Vice President of Exploration has supervised the
preparation of and reviewed the technical information and verified
the data contained in this document. Mr. Pereira holds a Bachelor
degree in Geology from Universidade do Amazonas in Brazil, is a qualified person as defined in
National Instrument 43-101 and is a member of the Association of
Professional Geoscientists of Ontario.
The reconnaissance sampling at the Artulândia
project was performed using stream sediment sampling to cover the
entire area of the claim block. Streams sediment samples were
collected using 10 liters constant volume samples and the collected
material was panned in the field for gold color counts. Follow-up
sampling was completed on anomalous areas defined by the results of
the stream sediment sampling. Soil samples were collected on
regular grids (200m x 50m) at 0.30 m depth. The material excavated
in each soil sampling location was homogenized and a 2 kg
representative sample was collected. Rock samples
(hand-specimen size) were collected during geological mapping over
the entire area and on target area ART-1 rock samples were
collected over regular grid (100m x 25m) and on representative
mineralized outcrops.
Brazil Resources operates QA/QC controls of
sampling and analytical procedures. For geochemical sampling
(stream sediment, soil, rock) duplicates are inserted in the sample
batches at a reason of one duplicate for every ten samples.
Samples from the Artulândia project are transported by the company
staff from the project by road to SGS-Geosol Labs in Goiania, Goias
for preparation and pulps are sent to SGS-Geosol Labs in
Vespasiano, Minas Gerais, Brazil
in secured and sealed sample bags for analysis. Samples are assayed
by the lab for gold using a 50 gram fire assay with AAS finish and
ICP for 37 elements.
Forward Looking Statements
This document contains certain
forward-looking statements that reflect the current views and/or
expectations of the Company with respect to its performance,
business and future events, including statements regarding the
Company's beliefs regarding future exploration of the Artulândia
project and exploration plans in respect of its projects.
Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about
the business and the markets in which the Company operates,
including that: the current price of and demand for minerals being
targeted by the Company will be sustained or will improve; the
Company's current exploration programs and objectives can be
achieved; financing will be available if and when needed on
reasonable terms; and the Company will be able to identify and
acquire additional mineral interests on reasonable terms or at
all. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including: that
the Company has a limited operating history; that resource
exploration and development is a speculative business; that the
Company may lose or abandon its property interests; that the
Company's properties are in the exploration stage and without known
bodies of commercial ore; that the Company may not be able to
obtain all necessary permits and approvals on any of its
properties; that environmental laws and regulations may become more
onerous; that the Company may not be able to raise additional funds
when necessary; potential defects in title to the Company's
properties; fluctuations in currency exchange rates; fluctuating
prices of commodities; operating hazards and risks; potential
inability to find suitable acquisition opportunities and/or
complete the same and other factors listed in the
Company's public filings, including its Management's Discussion and
Analysis for the year ended November 30,
2011. These risks, as well as others, could cause
actual results and events to vary significantly. Accordingly,
readers should not place undue reliance on forward-looking
statements and information. There can be no assurance that
forward-looking information, or the material factors or assumptions
used to develop such forward looking information, will prove to be
accurate. The Company does not undertake any obligations to release
publicly any revisions for updating any voluntary forward-looking
statements, except as required by applicable securities
law.
Neither the 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 accuracy of this news release.
Patrick Obara
Telephone: (855) 630-1001
info@brazilresources.com
SOURCE Brazil Resources Inc.