BrazMin Intersects High-Grade Gold in Phase I Drilling and Expands Landholdings at Água Branca
Jan 9, 2007
Road Town, Tortola, British Virgin Islands (Jan 9, 2007) - BrazMin Corp. (“BrazMin” or the “Company”) (TSX: BZM) is pleased to announce results from the first seven diamond drill holes of a Phase I Program on the Company's 100%-owned Água Branca Gold Project (“Água Branca” or the “Project”), located within the TapajÓs Gold District in ParÁ State, Brazil.
All seven drill holes reported herein intersected gold mineralization. Significant results are compiled in the tables below; highlights include:
The Phase I Program focused on drill testing of gold mineralized structures along the Camarão Hill target at Água Branca. Camarão Hill is characterized by a 750 by 300 metre area of historic “garimpos” (artisanal workings) and was the focus of channel sampling by the Company prior to drill testing. The seven holes reported in this release were drilled to the southeast or northwest to test northeast trending mineralized structures for an initial 400 metre strike extent of the 750 metre extent of the garimpos (see attached map). Mineralization in these holes is associated primarily with zones of strong hydrothermal alteration and widespread quartz veins and veinlets. Mineralization is hosted mainly by a coarse-grained magnetite-bearing monzogranite body that intruded an older granodioritic intrusion and was subsequently intruded by a syenogranite plug. The vein system typically exhibits a greyish color, reflecting the presence of pyrite, galena, chalcopyrite and local pyrrhotite. The center of the hydrothermal zones is normally associated with sericite or sericite/quartz (phyllic) alteration surrounded by a more dominant black chlorite/sericite/carbonate assemblage. Gold mineralization, as well as zones of hydrothermal alteration, appear to be structurally controlled along a northeast trending system (040-060 degrees). Diamond drilling in the Phase I Program at Água Branca is now complete, with 2,416 metres drilled in thirteen diamond drill holes. Assay results for the final six holes are pending and will be released when received by the Company.
Expansion of Landholdings
The Company is also pleased to announce it has entered into option agreements to acquire a 100% interest in three blocks covering a further 10,950 hectares located south and west of the main 9,356 hectare Água Branca block. These acquisitions bring the Company's total non-contiguous landholdings in the Água Branca area to 20,306 hectares (see attached map).
Field reconnaissance of the new landholdings began in late 2006 and three target areas were identified based on high-grade gold assays obtained from grab and/or channel samples. At the Para?so target, grab samples from a sulphide-rich silicified rock with late-stage quartz veining returned 22.81, 14.54, 13.66 and 11.37 g/t Au. Grab samples from the Araguari target returned 13.06 and 6.81 g/t Au from sulphide-rich silicified rock, whose protolith was likely monzogranite. At the Jerimum target, channel sampling along the main shear zone returned 6.14 g/t Au over 3.80 metres. Individual samples within this 3.80-metre interval assayed up to 15.31 g/t Au over 1.00 metres. Regional soil sampling programs are currently being carried out over the Para?so and Araguari targets, with the objective of better defining the mineralized zones and possible extensions prior to selection of drill targets.
Tony Ransom, President and CEO of BrazMin, states “We are encouraged by the initial drill results from Água Branca. All the holes for which assays have been received have returned significant gold mineralization, several of these with bonanza grades. The recent property acquisitions around Água Branca have more than doubled our landholdings in the area, and the results of initial fieldwork have been very positive with respect to identifying additional zones of gold mineralization.”
Drill Holes ABD-001 to ABD-006 and ABD-009 - Significant Results
ABD-001 (inclination: -55°, azimuth: 140°, length: 175.10 metres)
ABD-002 (inclination: -55°, azimuth: 320°, length: 184.90 metres)
ABD-003 (inclination: -55°, azimuth: 320°, length: 175.10 metres)
ABD-004 (inclination: -55°, azimuth: 140°, length: 190.10 metres)
ABD-005 (inclination: -55°, azimuth: 140°, length: 218.90 metres)
ABD-006 (inclination: -55°, azimuth: 140°, length: 165.85 metres)
ABD-009 (inclination: -55°, azimuth: 140°, length: 175.30 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 duplicate and blank samples within the sample batches submitted to Lakefield. In addition, Lakefield inserts its own blanks and 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.
The grab and channel samples reported in this release were collected by BrazMin geologists, prepared for analysis at SGS-Lakefield-Geosol Laboratorio Ltda's (“Lakefield”) sample-preparation laboratory in Itaituba, Brazil and 150 gram pulps were air-freighted by Lakefield to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. Gold is determined by the same method as described above for core samples. Lakefield inserts its own standards and blanks into each sample batch. The results from these control samples indicate acceptable consistency of analysis.
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 de Brito, 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 de Brito.
BrazMin is a TSX-listed company focused on the acquisition, exploration and advancement of high quality gold projects, primarily in Brazil. BrazMin has a well-qualified exploration and management team with extensive experience and expertise in gold exploration and project management, both within Brazil and worldwide.
BrazMin has a treasury of approximately CDN$11.4M. The Company has 27,054,222 shares outstanding and 32,306,722 shares fully diluted. For additional information on BrazMin and its projects visit the Company's website at www.brazmin.comor 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 the Company's exploration plans with respect to the Água Branca Gold Project, 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 the regulations affecting the Company's activities, delays in obtaining or failure to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and other geological 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.
The results of grab samples are disclosed in this release. Grab samples are select samples collected to determine the presence or absence of mineralization and may not be representative of the mineralized material in general. Channel samples and/or drilling are required to determine representative grades and widths.