Road Town, Tortola, British Virgin Islands (February 16th, 2006) – BrazMin Corp (“BrazMin”) (TSX:BZM) is pleased to announce that it has received further encouraging gold assay results from its 100% owned advanced exploration project, São Jorge, located in Para State, Brazil. The results tabled below are from the final batch of 14 diamond drill holes drilled to test the main target on the property, the 650m x100m Wilton Zone. These holes are part of the recently completed Phase 1 drilling program which consisted of 42 holes at the Wilton Zone. BrazMin has also received gold assay results from a further six holes, drilled for geological control purposes and to test two loosely-defined areas of potential mineralization located well outside the favourable main trend. These latter holes returned no significant gold assay results. Copies of all BrazMin’s Press Releases containing previously announced drill results from the Phase 1 drilling program, commencing with the press release dated September 12th, 2005, can be obtained from SEDAR at www.sedar.com.
Tony Ransom, President and CEO of BrazMin, commented: “Now that all the relevant assay data from the Phase 1 drilling program have been received, representative composite samples will be collected for metallurgical testing. Once the detailed geological interpretation is completed, we will proceed with the previously announced update to the resource estimate, using SRK Consultants.”
Assay results for holes SJD-029-05, SJD-030-05, SJD-031-05, SJD-032-05, SJD-033-05, SJD-034-05, SJD-035-05, SJD-041-05, SJD-042-05, SJD-043-05, SJD-044-05, SJD-045-05, SJD-046-05 and SJD-047-05 are tabulated below:
[Note: Six drill holes, SJD-036-05, SJD-037-05, SJD-038-05, SJD-039-05, SJD-040-05 and SJD-048-05, were drilled outside of the Wilton Zone and returned no significant gold assay results as referred to above]
|Hole Number||From (m)||To(m)||Width*(m)||Grade** (g/t Au)|
|(see detail below)||47.00||51.00||4.00||1.39|
|(see detail below)||59.00||60.00||1.00||2.80|
|(see detail below)|
* core lengths are uncorrected for dip or drill angle and do not represent true widths
** gold grades are uncut
For a Drill-Hole Location Plan, please refer to the Company’s website: www.brazmin.com
Hole SJD-029-05 was drilled in the eastern portion of the Wilton Zone at an inclination of -55° to the south to test the down-dip extension of the mineralized zones previously intersected in hole SJD-016-05. Two main mineralized zones were intersected, including 4.78m grading 2.82g/t Au from a depth of 165.38m and 9.50m grading 2.48g/t Au from a depth of 182.29m. Several other minor, well-mineralized zones were also intersected.
Hole SJD-030-05 was drilled at an inclination of -55° to the north and was designed to test the down-dip extension of the mineralized zones previously intersected in holes SJD-014-05 and SJD-024-05. Three good main zones were intersected, including: 4.00m grading 2.01g/t Au from a depth of 177.00m; 17.00m grading 2.39g/t Au from a depth of 235.00m and; 3.00m grading 1.81g/t Au from a depth of 272.00m.
Hole SJD-031-05 was drilled at an inclination of -50° to the south, on a section approximately 40m west of hole SJD-023-05 to test the continuity of the mineralized zones intersected previously in hole SJD-026-05. Three main zones were intersected, including: 2.76m grading 2.12g/t Au from a depth of 61.40m; 1.83m grading 2.74g/t Au from a depth of 103.49m and; 13.63m grading 1.84g/t Au from a depth of 119.94m. Other minor, well-mineralized zones were also intersected.
Hole SJD-032-05 was drilled in the eastern portion of the Wilton Zone at an inclination of -50° to the south and on the same section as holes SJD-017-05 and SJD-028-05. This hole aimed to intersect the mineralized zones between 50 and 100 meters below surface. Excellent results were obtained, including: 22.20m grading 5.36g/t Au from a depth of 86.47m; 7.44m grading 2.08g/t Au from a depth of 144.94m; 11.03m grading 1.95g/t Au from a depth of 167.57m and; 4.16m grading 1.66g/t Au from a depth of 225.93m. Several other minor well-mineralized zones were also intersected.
Hole SJD-033-05 was drilled at an inclination of -55° to the northeast and was designed to test the up-dip projection of the mineralized zone intersected in hole SJD-008-05. Two very good main zones were intersected, including: 12.05m grading 2.29g/t Au from a depth of 64.90m and; 17.62m grading 1.91g/t Au from a depth of 108.29m.
Hole SJD-034-05 was drilled in the western extreme of the Wilton Zone at an inclination of -55° to the north to intersect the up-dip projection of the mineralized zones previously intersected in hole SJD-006-05. Four mineralized zones were intersected, including: 2.28m grading 2.40g/t Au from a depth of 9.92m; 13.62m grading 1.12g/t Au from a depth of 98.79m; 2.00m grading 1.22 Au from a depth of 189.17m and; 1.78m grading 2.20g/t Au from a depth of 195.51m.
Hole SJD-035-05 was drilled in the west-central portion of the Wilton Zone on a section 83 meters east of hole SJD-034-05, at an inclination of -55° to the south. The objective was to intersect the down-dip projection of the mineralized zones previously intersected in holes SJD-015-05 and SJD-025-05. One main mineralized zone was intersected, including 13.96m grading 1.54g/t Au from a depth of 286.11m. Several other low grade zones (<1.00g/t Au) were also intersected.
Hole SJD-041-05 was a shallow hole drilled on the eastern portion of the Wilton Zone at an inclination of -50º to the south to test the up-dip extension of the mineralization intersected previously in holes SJD-017-05, SJD-019-05, SJD-028-05 and SJD-032-05. Two mineralized zones were intersected, including; 3.00m grading 1.79g/t Au from a depth of 32.00m and; 4.00m grading 1.39g/t Au from a depth of 47.00m. This hole appears to have been stopped too soon and therefore did not test the entire extent of the higher-grade zones.
Hole SJD-042-05 was a shallow hole drilled in the eastern extreme of the Wilton Zone at an inclination of -50° to the north to test the up-dip projection of the mineralized zones previously intersected in hole SJD-033-05. Due to pinching of the zone in this area, the hole only intersected two narrow intervals, including 1.00m grading 2.11g/t Au and 1.00m grading 2.80g/t Au from depths of 36.00m and 59.00m, respectively. It appears that this hole was collared too far north and entered footwall rocks without testing the main mineralized corridor.
Hole SJD-043-05 was a shallow hole drilled in the eastern portion of Wilton Zone approximately 40 meters west of hole SJD-041-05 at an inclination of -50° to the south to test the up-dip projection of the mineralized zones previously intersected in holes SJD-016-05 and SJD-029-05. Three good mineralized intervals were intersected, including; 1.58m grading 6.44g/t Au from a depth of 7.72m; 3.65m grading 2.38g/t Au from a depth of 23.55m and; 7.23m grading 2.82g/t Au from a depth of 53.66m.
Hole SJD-044-05 was a shallow hole drilled between the Wilton Zone and the Wilton West pit to the NW, in order to test the continuity of the mineralization to the west. The hole was drilled at an inclination of -55º to the north and intersected one mineralized zone, including 6.00m grading 1.01g/t Au from a depth of 38.00m. The hole did not test the whole width of the mineralized corridor.
Hole SJD-045-05 was drilled in the eastern extreme of the Wilton Zone, 40 meters east of hole SJD-041-05, at an inclination of -55° to the north to test the up-dip projection of the mineralized zones previously intersected in hole SJD-019-05. One mineralized interval was intersected, including 4.32m grading 1.41g/t Au from a depth of 87.15m. Several other low grade zones (<1.00g/t Au) were also intersected.
Hole SJD-046-05 was drilled in the western portion of the Wilton Zone at an inclination of -55° to the north to test the down-dip projection of the mineralized zones previously intersected in holes SJD-007-05 and SJD-021-05. Three very good mineralized zones were intersected, including; 11.00m grading 2.33g/t Au from a depth of 199.00m; 4.00m grading 1.19g/t Au from a depth of 233.00m and; 8.00m grading 2.14g/t Au from a depth of 253.00m.
Hole SJD-047-05 was drilled in the central portion of the Wilton Zone at an inclination of -55º to the north, to investigate the down-dip extension of the mineralized system intersected by hole SJD-004-05. Two good mineralized zones were intersected, including; 7.20m grading 2.26g/t Au from a depth of 204.80m and; 14.00m grading 3.26g/t Au from a depth of 252.00m.
The drilling has been designed to test the entire width of the Wilton Zone using mostly angled holes drilled from both north and south to ensure that each discretezone is intersected at appropriate depths. Holes are 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 professional 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 and 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 Parauapebas. The entire half-core is crushed and 1 kilogram is pulverized and homogenized. 150 Gram pulps are then air-freighted by Lakefield to their main assay laboratory in Belo Horizonte, Minas Gerais State. 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, both of whom are qualified persons within the meaning of National Instrument 43-101. The information in this press release has been verified by Mr. Ransom, including the sampling, analytical and test data underlying the information. Additional information with respect to the São Jorge Project can be obtained from BrazMin’s website, www.brazmin.com.
BrazMin is engaged in the search for, acquisition, exploration and development of high quality gold projects primarily in Brazil.
BrazMin has 25,817,074 shares outstanding (35,113,745 shares fully diluted) and cash of $14.5 million.
For further information, please contact:
This document may contain or refer to forward looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.