- 9 of 12 drill holes intersected mineralization at the ART-1
target;
- Diamond Drill Hole (DDH) 07 intersected 15m (0 to 15.0m) of
1.56 g/t gold equivalent or 0.93% copper equivalent and DDH-09
intersected 9m (20 to 29m) of 1.32 g/t gold equivalent or 0.78%
copper equivalent1;
- DDH-07 intersected 15m (0 to 15.0m) of 0.17 g/t gold, 0.35%
copper, 18.04 g/t silver, 0.63% lead and 0.45% zinc; including 7m
(0 to 7.0m) of 0.35 g/t gold, 0.39% copper, 30.43 g/t silver, 1%
lead, and 0.31% zinc
- DDH-09 intersected 9m (20-29m) of 0.01g/t gold, 0.09%
copper, 20.78 g/t silver, 0.32% lead and 1.49% zinc; and
- Seven additional geochemical and geophysical zones remain
untested.
VANCOUVER, July 17, 2013 /PRNewswire/ - Brazil Resources
Inc. (the "Company" or "Brazil Resources") (TSX-V: BRI; OTCQX:
BRIZF) is pleased to announce that recent diamond drilling at the
Company's Artulândia project (the "Project") confirms polymetallic
mineralization of up to 10 metres thickness (not "true" width) in a
flat lying unit at surface. The principal target, ART-1,
located within the Alvo South target, was previously outlined by
geophysical data and rock and soil surveys. The Project covers
12,000 acres and is located in Goias state, one of the most
prolific mining districts in Brazil.
Stephen Swatton,
President and CEO, stated, "The style of mineralization is
consistent with a Volcanogenic Massive Sulphide and represents a
new discovery of this style in Goias State. Our geological team
believes the results of this drilling program are significant and a
gold equivalent grade of 1.56 g/t or copper equivalent grade of
0.93% is a great start in an area which has over 8km of strike of
the target horizon in two parallel rock packages. Further fieldwork
is ongoing and additional drilling will be required in order to
understand the full extent of this exciting new discovery.
The Company has an additional three years left on the license,
which we believe is sufficient time to fully investigate the
potential of the Project and to perform appropriate follow-up
programs."
In its news release dated December 11, 2012, Brazil Resources announced
trench and rock sample results from target ART-1 on the first
mineralized zone of approximately 1,000-meters by 250-meters and
open in all directions. The trenches intersected fresh rock beneath
a thin, approximately one meter thick, soil covered zone. Samples
yielded anomalous results for gold, copper, silver, lead and
zinc.
Following up from the previous work, twelve
exploratory diamond drill holes totaling 951.86m were completed at
ART-1 (additional drilling was completed on ART-4) to test both
geochemical and geophysical anomalies. Of these, nine drill holes
yielded positive results with mineralized intervals of up to 10m,
returning up to 0.35 g/t gold, 0.39% copper, 30.43 g/t silver, 1%
lead and 1.49% zinc in separate drill holes. Please see Table 1 of
this press release for a summary of relevant drill results from the
program.
These results define a shallow, sub-horizontal
mineralized zone that is currently projected to extend north under
a local plateau located within the Project licenses. Seven
previously delineated soil and rock geochemical targets remain to
be investigated.
The Company plans follow-up work and a drill
program on Alvo South and the remaining untested targets.
The following table provides a summary of the
significant drill results for each hole:
Table 1: Artulândia Target Drill
Results
|
TARGET |
DDH |
Azimuth
(°) |
Dip
(°) |
EOH
(m) |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Cu
(%) |
Ag
(g/t) |
Pb
(%) |
Zn
(%) |
| ART-1 |
DDH-01 |
180 |
-60 |
163.65 |
47 |
50 |
3 |
0.01 |
0.02 |
4.33 |
0.04 |
0.30 |
| ART-1 |
DDH-02 |
0 |
-60 |
157.45 |
10 |
14 |
4 |
0.27 |
0.05 |
0.90 |
0.13 |
0.22 |
| ART-1 |
DDH-03 |
0 |
-60 |
144.74 |
86 |
91 |
5 |
0.01 |
0.05 |
0.60 |
0.07 |
0.15 |
| ART-4 |
DDH-04 |
0 |
-60 |
178.38 |
119 |
128 |
9 |
0.01 |
0.01 |
0.60 |
0.03 |
0.25 |
| ART-4 |
DDH-05 |
0 |
-60 |
149.37 |
7 |
9 |
1 |
0.01 |
0.23 |
0.50 |
0.01 |
0.22 |
| ART-4 |
DDH-06 |
0 |
-60 |
161.74 |
19 |
21 |
2 |
0.01 |
0.03 |
1.66 |
0.02 |
0.50 |
| ART-1 |
DDH-07 |
180 |
-50 |
76.31 |
0 |
15 |
15 |
0.17 |
0.35 |
18.04 |
0.63 |
0.45 |
| |
incl. |
|
|
|
0 |
7 |
7 |
0.35 |
0.39 |
30.43 |
1.00 |
0.31 |
| ART-1 |
DDH-08 |
0 |
-50 |
82 |
0 |
5 |
5 |
0.02 |
0.09 |
18.70 |
0.15 |
0.27 |
| ART-1 |
DDH-09 |
180 |
-60 |
172.55 |
20 |
29 |
9 |
0.01 |
0.09 |
20.80 |
0.32 |
1.49 |
| ART-1 |
DDH-10 |
0 |
-80 |
36.87 |
5 |
7 |
2 |
0.01 |
0.01 |
11.50 |
0.01 |
0.14 |
| ART-1 |
DDH-11 |
180 |
-80 |
26.43 |
9 |
19 |
10 |
0.01 |
0.05 |
7.12 |
0.12 |
0.08 |
| ART-1 |
DDH-12 |
180 |
-80 |
17.08 |
6 |
8 |
2 |
0.01 |
0.13 |
1.10 |
0.25 |
0.06 |
| ART-1 |
DDH-13 |
180 |
-80 |
24.49 |
6 |
14 |
8 |
0.01 |
0.05 |
3.75 |
0.05 |
0.11 |
| ART-1 |
DDH-14 |
0 |
-80 |
21.8 |
15 |
16 |
1 |
0.01 |
0.10 |
22.00 |
0.01 |
0.20 |
| ART-1 |
DDH-15 |
0 |
-80 |
28.49 |
6 |
8 |
2 |
0.08 |
0.11 |
9.50 |
0.15 |
0.04 |
A total of 15 drill holes totaling 1441.35m and dipping from 50
to 80 degrees, oriented north or south with total depths ranging
from 21.8m to 178.38m were drilled on the ART-1 target located
within Alvo South and the ART-4 target located within Alvo North. DDH-4, 5 and 6 completed at the
ART-4 target returned low grades in an area of the property that
requires more geological interpretation and was based more on
interpretive geophysics than surface geochemistry.
Click here to view Figure 1: Artulândia Target Drill
Locations
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration
company with a focus on the acquisition and development of projects
in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, the Company is
advancing its Cachoeira, Montes Áureos, Trinta and Maua Gold
Projects located in the Gurupi Gold Belt in the state of Maranhão,
northeastern Brazil, and its
Artulandia Copper-Gold Project in central Brazil.
Technical Information
Paulo Pereira,
the Company's Vice President of Exploration has supervised the
preparation of the technical information contained in this news
release. 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.
Brazil Resources implements a quality assurance
and control protocol in connection with its sampling and analytical
procedure. Drill core is checked, logged for sampling and
sawn in half. One half of the NQ core (60.3mm diameter) and/or HQ
core (77.8mm diameter), as applicable, is maintained for future
reference and one half of the core is sent for analysis (sample
weights varied between 1-3kg). Drill core is logged by Brazil
Resources' geologists and split at a core shed located on the
property. Samples are collected at approximately 1m intervals.
Samples are transported from the project by road to an SGS-Geosol
lab in Goiania, Goiás, in secured sealed sample bags for
preparation. The samples are assayed at SGS-Geosol lab in
Vespasiano, Minas Gerais, for gold using a 50 gram fire assay with
AAS finish and ICP for 37 elements. Control samples, consisting of
certified analytical standards, blanks (barren rocks) and
duplicates are inserted in each sample batch at a rate of
approximately 8% in order to provide several measures of data
quality and ensure that the assay data is representative of the
original sample. SGS-Geosol is independent of Brazil Resources.
1Gold equivalent numbers based on $1282 ounce gold, 6,922 tonne copper,
$22.3 ounce silver, $, $2,048 tonne lead, $1,860 tonne zinc.
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 and expectations respecting the potential of
the Project. 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; and the Company's current exploration programs and
objectives can be achieved; financing will be available if and when
needed on reasonable terms. 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;
and other factors listed in the Company's public
filings, including its Management's Discussion and Analysis for the
year ended November 30, 2012. 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.
Stephen Swatton or Patrick Obara
Telephone: (855) 630-1001
info@brazilresources.com
SOURCE Brazil Resources Inc.