Brazil Minerals drills for gold!
Brazil Minerals drilling campaign
Brazil Minerals, announced strong initial results, its subsidiary Jupiter Gold Corporation expanded the drilling campaign of its Paracatu Project from 6 holes in an exploratory campaign to 25 holes in a detailed campaign. Eleven of the twelve holes already drilled have shown visual evidence of gold.
The target is an alluvial plain along the Rico Creek, which drains the giant Paracatu gold deposit known as “Morro do Ouro” (Gold Hill), an ore body of 16 million ounces owned by Kinross Gold Corporation. Geochemical analysis of the higher quantity of samples collected in the detailed drilling will allow for stronger statistical significance of results. In turn, this will permit more accurate quantification for reporting and for the preparation of a permit application to mine the area.
Marc Fogassa, CEO of the Company, commented, “The initial results in the Paracatu Project have been highly encouraging and thus it made sense to expand the campaign. Note that this is our first effort at drilling an area which is far away from our main Brazilian operations and yet the logistics have worked out very well. We plan to replicate this method for many of our other high potential mineral rights – including claims for gold, diamonds, lithium, and cobalt, among others.”
The senior geologist on the Paracatu Project is Rodrigo Mello, who has extensive experience in Brazilian gold geology. Mr. Mello has worked in Brazil for some of the largest gold companies in the world such as Goldcorp, AngloGold, and Anglo American, and has written 19 geological reports, mostly on gold formations.
