Vancouver — A third-phase drill program by
The TZ project and the company’s nearby Mamoal project lie within an Archean-aged district that has produced an estimated 10 million oz. gold to the early 1990s, mostly from alluvial deposits worked by garampeiros. Alluvial production in the district continues today, with annual production estimated at between 200,000 and 300,000 oz.
Brazauro (formerly known as Jaguar Resources) holds one of the largest land positions in the camp, and has been exploring its properties for lode deposits for several years. Several major companies are also active in the district.
The company previously reported results from the first three holes of the program, along with partial results from a fourth hole. Highlights include: 226 metres of 1.5 grams gold per tonne, including 83.3 metres of 2.3 grams and 47.3 metres of 2.2 grams; 234 metres of 1.3 grams, including 23.2 metres of 3.3 grams; and 80.3 metres of 0.7 gram, including 28 metres of 1.2 grams.
The latest round of drilling returned more wide intercepts of mineralization, notably 175.7 metres of 1.59 grams gold, which includes 101.6 metres of 2.21 grams gold.
Results were released for four holes of the 13-hole program, with other highlights being: 47.2 metres of 8.24 grams gold, including 13.05 metres of 27.24 grams and a 0.85-metre interval grading 374.4 grams; 12.2 metres of 7.46 grams; and 98.4 metres of 0.9 gram.
The company notes that these holes together extend the strike length of mineralization a further 140 metres to the southeast, relative to the extent defined during the previous year’s drilling program.
Drilling to date has defined a zone measuring 640 metres long and 160 metres wide, which remains open along strike to the northwest and southeast, as well as at depth.
More drilling is planned to further test potential extensions of the zone. The TZ project also covers other targets that are yet to be fully tested.
A first-phase drill program is scheduled to begin at the Mamoal project this fall.