BrazMin Announces Further Drill Results from the São Jorge Gold Project
Oct 6, 2006
Road Town, Tortola, British Virgin Islands (Oct 6, 2006) - BrazMin Corp. (“BrazMin” or the “Company”) (TSX: BZM) is pleased to announce the results of a further 19 diamond drill holes from the Phase II Exploration Program on the Company's 100%-owned São Jorge Gold Project (“São Jorge” or the “Project”), located in the TapajÓs Gold District, ParÁ State, Brazil.
The drill holes reported in this release are from the Wilton and Kite Zones, as well as several additional target areas; highlights include:
Wilton West Pit
Wilton East Zone
The Company's Phase II Diamond Drilling Program at São Jorge is now complete, with 7,952 metres drilled in 34 holes. To date results have been reported for 27 holes, with assay results for the final seven holes pending.
Eight of these 34 holes (2,302 metres) were drilled on the Wilton Zone. The remaining 26 holes (5,650 metres) were drilled on the Kite Zone and additional target areas (see the Company's website at www.brazmin.com for São Jorge drill hole maps).
These additional target areas, which were identified by surface mineralization and/or geophysical anomalies, include the Wilton East and Borboleta Zones. At the Wilton East Zone, located approximately 500 metres southeast of the Wilton Pit, hole SJD-078-06 intersected 2.19 g/t Au over 3.37 metres. Results of two additional holes from this zone are pending.
A total of four holes have been drilled over a 150 by 350 metre area named the Borboleta Zone, located approximately 1.5 kilometres southwest of the Wilton Pit. Hole SJD-074-06 intersected 3.82 g/t Au over 2.92 metres. Two additional holes (SJD-073-06 and SJD -081-06) did not encounter significant mineralization and results of the fourth hole are pending.
SJD-051-06 - Wilton Zone (inclination: -55°, azimuth: 180°, length: 370.30 metres)
SJD-053-06 -Wilton West Pit (inclination: -55°, azimuth: 360°, length: 278.60 metres)
SJD-057-06 - Wilton Zone (inclination: -55°, azimuth: 180°, length: 302.30 metres)
SJD-058A-06 - Wilton Zone (inclination: -55°, azimuth: 180°, length: 280.10 metres)
SJD-061-06 - West of Wilton Zone (inclination: -55°, azimuth: 360°, length: 275.05 metres)
SJD-062-06 - Kite Zone (inclination: -55°, azimuth: 360°, length: 168.30 metres)
SJD-063-06 - Wilton West Pit (inclination: -50°, azimuth: 180°, length: 250.65 metres)
SJD-064-06 - Kite Zone (inclination: -55°, azimuth: 180°, length: 232.10 metres)
SJD-066-06 - Wilton Zone (inclination: -60°, azimuth: 180°, length: 271.30 metres)
SJD-067-06 - Wilton Zone (inclination: -55°, azimuth: 180°, length: 331.10 metres)
SJD-068A-06 - Kite Zone (inclination: -55°, azimuth: 360°, length: 265.60 metres)
SJD-070-06 - West of Wilton West Pit (inclination: -55°, azimuth: 030°, length: 272.60 metres)
SJD-073-06 - Borboleta Zone (inclination: -55°, azimuth: 030°, length: 126.15 metres)
SJD-074-06 - Borboleta Zone (inclination: -55°, azimuth: 030°, length: 190.00 metres)
SJD-075-06 - West of Wilton Zone (inclination: -55°, azimuth: 030°, length: 170.80 metres)
SJD-077-06 - Kite Zone (inclination: -55°, azimuth: 115°, length: 181.50 metres)
SJD-078-06 -Wilton East Zone (inclination: -55°, azimuth: 360°, length: 198.60 metres)
SJD-080-06 - South of Wilton Zone (inclination: -55°, azimuth: 120°, length: 198.60 metres)
SJD-081-06 - Borboleta Zone (inclination: -55°, azimuth: 047°, length: 160.10 metres)
* widths are drill intersected and do not represent true widths
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this release were collared using HQ (63.5mm)-sized core in the oxidized saprolite zone and NQ (47.6mm)-sized core in the fresh (sulphide) bedrock. The core is logged and photographed by BrazMin staff and then split using a diamond saw. Half the core is stored on-site in a secure core shed and the other half is sampled, bagged, secured, and stored on-site until several holes are ready for transporting by road to SGS-Lakefield-Geosol Laboratorio Ltda's (“Lakefield”) sample-preparation laboratory in Itaituba, Brazil. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150 Gram pulps are then air-freighted by Lakefield to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. Lakefield is ISO14001 and ISO 9001:2000 accredited and is independent of BrazMin. Gold is determined by fire assay/atomic absorption with a detection limit of 5ppb Au using 50 gram aliquots. Lead fire assays use silver as a co-collector to facilitate easier handling of prills as well as to minimize losses during the cupellation process. Selected samples will later be analyzed for other elements such as silver, copper, lead, zinc, etc. by ICP spectrometry/multi-acid digestion. The laboratory is instructed to automatically reanalyze abnormally high gold values. Specific gravity determinations are done using a gas picnometer. QA/QC procedures include the submission by BrazMin of systematic duplicates, blanks and standard samples within the sample batches submitted to Lakefield. In addition, Lakefield inserts its own standards into each sample batch. The results from these control samples indicate acceptable consistency of analysis. Selected representative pulverized sample duplicates are
submitted for referee analyses to ALS Chemex's laboratory in Vancouver, an ISO 9001:2000 and ISO 17025 accredited laboratory which is independent of BrazMin.
BrazMin's exploration programs are being managed by BrazMin's President and CEO, Mr. Tony Ransom (Pr.Sci.Nat.), and, on-site, by BrazMin's VP Exploration, Mr. Paulo Ilidio de Brito (Member: AusIMM), both of whom are qualified persons within the meaning of National Instrument 43-101. Mr. Ilidio, who is responsible for the technical material in this release, has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information. Geological logging, sampling and core handling procedures were carried out under the supervision of Mr. Ilidio.
Mineral rights to São Jorge are held 100% by BrazMin's wholly-owned subsidiary, Brazilian Resources MineraÇão Ltda. An independent technical report dated March 31, 2006 and entitled “Technical Report on São Jorge Project, ParÁ State, Brazil for BrazMin Corp.” can be obtained from SEDAR at www.sedar.com. An updated independent technical report on São Jorge is currently being prepared and will be filed on SEDAR when complete.
BrazMin has a treasury of approximately CDN$ 12.7M. The Company has 27,054,222 shares outstanding and 35,551,245 shares fully diluted. For additional information on BrazMin and its projects visit the Company's website at www.brazmin.com or contact:
Fiona Childe, Ph.D., P.Geo.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding exploration results and potential mineralization) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in gold prices, changes in equity markets, political developments in Brazil, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the gold exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of buy . Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.