DGAP-News: Brazil Resources Inc. Provides Exploration Update
(firmenpresse) - DGAP-News: Brazil Resources Inc. / Key word(s): AGM/EGM
Brazil Resources Inc. Provides Exploration Update
27.04.2012 / 16:00
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Brazil Resources Inc. Provides Exploration Update
Vancouver, April 26, 2012 - Brazil Resources Inc. (TSXV:BRI) ('Brazil
Resources' or the 'Company') is pleased to announce the results from
initial gold exploration programs on its MontesÁureos and Trinta Projects
located within the Gurupi Belt, Maranhão state, northeast Brazil and its
Artulândia property located contiguous with the Company's 247,000 acre
Pireneus Project area, Goiás, central Brazil.
Highlights include:
- MontesÁureos - mineralized zone, typical of greenstone belts in this
district. To date, exploration work has included soil sampling, auger
drilling and diamond drilling. Significant drill intersections from 10
diamond drill holes returned values of 0.45 to 3.5 g/t gold from
intercepts of between 1m and 17m.
- Trinta Project - Brazil Resources' exploration team has identified
three gold targets with seven anomalies within two prospective
geophysical corridors. Grab sample results returned values of up to 60
g/t gold from a local identified source.
- Artulândia Property - Thus far, the Company has identified eight target
areas with elevated gold, copper, lead and zinc values surrounding a
large intrusive granitoid with grab sample results of up to 1.2 g/t
gold, 0.7% copper and greater than 2% lead-zinc in separate samples.
Stephen Swatton, President and CEO, stated, 'As a result of these initial
exploration programs, the Company now has a grasp of the geology and
potential of three distinct project areas. However, we are aware that we
have far more exploration work to perform to zero-in on the most
prospective zones on all three projects. We are encouraged by what has been
found to date by the Company's exploration team in what were poorly
understood but historically richly endowed gold districts. Concurrent with
these exploration programs, we continue to make progress on our strategy to
acquire additional projects of merit in Brazil.'
Gurupi Belt Projects
MontesÁureos
The Company's exploration in the Gurupi Belt has progressed with the
execution of a diamond drilling program on the MontesÁureos Project and
follow-up sampling work on the nearby Trinta Project. Ten drill holes
totaling 1,616 meters have been completed on the MontesÁureos Project.
At MontesÁureos, nine drill holes (MADDH-02, 03, 04, 05, 06, 07, 08, 08A
and 09) tested the 500-meter northern expression of a 2-km long
gold/arsenic soil/auger anomaly identified by the Company. Interval spacing
was approximately 40m-50m with a north-south orientation. Each drill hole
was drilled at a 60-degree azimuth and at a 60-degree dip from surface. An
additional exploratory drill hole (MADDH-01) was completed to test an
isolated soil anomaly to the southeast of the main soil anomaly, near a
site with artisanal mining activities.
The drill results have confirmed a continuous low-grade 100-130 meter wide
gold enrichment zone that hosts several 1-meter to 17-meter intersections
with grades between 0.45 and 3.5 g/t gold (see Table 1 below). The
remaining 1.5 km of the soil/auger anomaly is open to the south. The
Company currently anticipates that a further drill program in 2012 will
test the southern extension zone at MonteÁureos. The mineralization is
typical of greenstone-hosted bulk low-grade deposits. More drilling will be
required along strike to understand the full extent of the mineralization
at depth, and Company geologists have already sited additional drill
targets for future testing.
TABLE 1 - Drill hole intersections above 0.45 g/t gold at MontesÁureos.
DRILL- INTERVALFurther detailed technical information on the MontesÁureos Project and the
HOLE FROM (m) TO (m) (m) Au (g/t)
MADDH-02 25,00 32,00 7,00 0,51 incl. 2,0 m (at) 0,95 g/t
MADDH-02 98,00 104,00 6,00 0,52 incl. 1,0 m (at) 2,43 g/t
MADDH-03 53,00 66,50 13,50 0,46 incl. 4,0 m (at) 0,75 g/t
MADDH-03 100,00 102,00 2,00 0,55
MADDH-04 0,00 8,00 8,00 0,49
MADDH-04 88,50 95,00 6,50 0,56 incl. 0,7 m (at) 2,34 g/t
MADDH-05 30,00 33,00 3,00 1,10 incl. 1,1 m (at) 1,74 g/t
MADDH-06 17,00 34,00 17,00 0,49 incl. 1,0 m (at) 1,34 g/t
MADDH-06 68,00 72,00 4,00 1,10 incl. 1,3 m (at) 1,45 g/t
MADDH-06 91,50 98,00 6,50 1,10 incl. 1,0 m (at) 3,82 g/t
MADDH-06 109,00 114,00 5,00 0,58 incl. 1,6 m (at) 0,90 g/t
MADDH-07 1,35 10,00 8,75 0,49 incl. 1,0 m (at) 0,95 g/t
MADDH-07 16,00 28,00 12,00 0,45 incl. 1,0 m (at) 1,54 g/t
MADDH-08A 1,00 6,00 3,00 0,51 incl. 1,0 m (at) 0,73 g/t
MADDH-08A 26,00 28,00 2,00 0,73 incl. 1,2 m (at) 0,94 g/t
Company's planned work program can be found in the National Instrument
43-101 technical report dated March 16, 2011 authored by Coffey Mining. A
copy of the Technical Report is available under the Company's profile on
SEDAR at www.sedar.com.
The Trinta Project
At Trinta, located 2 km to the east of the Company's MontesÁureos Project
on the southern extension of the Cipoeiro mineralized trend, a property
reconnaissance float, stream sediment, soil and trenching program was
completed comprising 1,328 samples. As a result, three target areas with
gold soil anomalies have been identified. Follow-up work completed in one
of the areas confirmed the presence of mineralization associated with
quartz veining in a foliated granitoid. Grab samples from quartz float
returned high-grade gold results including 20 g/t gold and 12.5 g/t gold
with the highest returning 60 g/t gold)
The highlights of the recent exploration work at the Trinta Project
include:
- The Company completed a quartz vein float sampling program (35 samples)
in Area 3. The three highest values returned were 60 g/t gold, 20 g/t
gold and 12 g/t gold.
- Gold mineralization was identified in four trenches associated with
quartz veining in foliated granitoid rocks. The highest channel
sampling result yielded 4 meters at 1.0 g/t, including 1 meter at 3.3
g/t gold.
- Identified seven discreet gold soil anomalies measuring from 0.5 km up
to 1.2 km at a 40-ppb cut-off (background is<5ppb).
The work to date is encouraging and initial mechanized trenching close to
the 60g/t gold float has confirmed the presence of high-grade gold in
quartz veins (3.0g/t gold over 1 meter).
Government geophysical surveys from the district show the mineralization to
be consistent with linear NNW-SSE magnetic highs; these highs will continue
to be the focus for follow up exploration in 2012. The western geophysical
anomaly (Area 1) extends north-south for approximately 5km, and the eastern
anomaly (Areas 2 and 3) extends for approximately 9km.
Artulândia Property
At the Company's Artulândia property, geological mapping and follow-up
sampling programs including stream sediment (62 samples), soil (1,355
samples) and rock (397 samples) sampling have been completed. As a result
of this work, eight target areas for copper, lead, zinc, silver and gold
have been identified.
Follow-up work completed on target ART-1 confirmed the presence of rock
samples with copper values of up to 0.7%, lead-zinc values of greater than
2%, silver grades of up to 183 g/t and gold grades of up to 1.2 g/t gold,
plus additional anomalies as shown in Table 4 below. These elevated base
metal values are associated with hydrothermally modified metavolcanic rock
units distributed around the contact zones of a large intrusive.
Preliminary data indicates that the potential target may be a base metal
skarn-type deposit.
Highlights thus far include:
- Definition of eight copper, lead, zinc, silver (Au-Bi) target areas
using a cut-off of 30 ppb for gold, 200 ppb for copper and 500 ppb for
lead and zinc in soil anomalies (Figure 5), and
- Grab samples from hydrothermally modified metavolcanic rock units and
associated weathered material with grades between 0.1%-0.7% copper,
1.32%-4.2% lead, 1.78%-2.35% zinc, 11-147 g/t silver and 0.1-1.2 g/t
gold distributed over an area 100 meter wide by 800 meter long, and
open in both directions, on target ART-1.
Exploration is still at an early stage at the Company's Artulândia
property. The Company plans to make further determinations regarding the
nature of a follow-up program once remaining results for the current
program have been received.
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 MontesÁureos, 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.
For further information, please contact:
Patrick Obara
Telephone: (855) 630-1001
info(at)brazilresources.com
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 contained in this
document. Mr. Pereira holds a Bachelor degree in Geology from Universidad
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 operates QA/QC controls of sampling and analytical
procedures. Drill core is checked, logged for sampling and sawn in half.
One half of the NQ core (47.6mm diameter) and HQ core (63.4mm diameter) is
maintained for future reference and one half of the core is sent for
analysis. Samples are collected at 1m intervals. Samples are transported
from the project by road to SGS-Geosol Labs in Vespasiano, Minas Gerais,
Brazil in secured and sealed sample bags. Samples are assayed by the lab
for gold using a 50 gram fire assay with AAS finish and ICP for 37
elements. Sets of control samples consisting of certified analytical
standard, blanks (barren rocks) and duplicates are inserted in the sample
batches as part of the QA/QC procedures providing several measures of data
quality and in order to ensure the Company that assay data is
representative. For non-drilling samples, only duplicates are inserted in
the sample batches.
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 exploration plans in respect of its projects, and its future
acquisition strategy. 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 property is in the exploration stage
and is 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.
End of Corporate News
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