Road Town, Tortola, British Virgin Islands, January 10th, 2006 – BrazMin Corp (“BrazMin”) (TSX:BZM) is pleased to announce that it has received further encouraging gold assay results from the next four diamond drill holes at its 100% owned advanced exploration project, São Jorge, located in Para State, Brazil. These holes are part of the recently completed Phase 1 drilling program which consisted of 48 holes totaling 10,104m. 42 of these holes were drilled to test the main target on the property, the 650m x100m Wilton Zone. (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, “We are continuing with geological interpretation using the detailed drill logs and the assay results so far received from the project. We anticipate receiving the last batch of results before the end of January, at which time we can commence grade distribution analysis and deposit modeling.”
Hole SJD-021-05 was drilled at an inclination of -55° to the north and was designed to test the up-dip projection of the mineralized system intersected in hole SJD-007-05. Three main zones were intersected, including 8.00m grading 2.49g/t gold from a depth of 29.00m, 11.00m grading 1.36g/t gold from a depth of 131.00m and 10.00m grading 1.18g/t gold from a depth of 177.00m. Several other minor zones were also intersected.
Hole SJD-026-05 was drilled at an inclination of -50° to the north, approximately 40m east of hole SJD-004-05, in the central portion of the Wilton Zone. Two main zones were intersected: 4.00m grading 3.19g/t gold from a depth of 138.00m and 6.00m grading 1.96g/t gold from a depth of 179.00m.
Hole SJD-027-05 was drilled at an inclination of -50° to the north and was designed to test the down-dip projection of the mineralized zone intersected in hole SJD-023-05. Two main zones were intersected, including 10.12m grading 4.18g/t gold from a depth of 114.77m and 5.00m grading 1.99g/t from a depth of 172.11m.
Hole SJD-028-05 was drilled at an inclination of -55° to the north with the objective to test the down-dip projection of the mineralized system intersected in hole SJD-017-05. Three main mineralized zones were intersected: 5.50m grading 1.48g/t gold from a depth of 174.40m; 5.83m grading 1.73g/t gold from a depth of 188.00m and 17.64m grading 4.32g/t gold from a depth of 255.20m. Several other narrower mineralized zones were intersected within the main hydrothermal system.
Assay results for holes SJD-021-05, SJD-026-05, SJD-027-05 and SJD-028-05 are tabulated below:
|Hole Number||From (m)||To(m)||Width*(m)||Grade**|
* 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
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 discrete zone 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 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 20,817,074 shares outstanding (27,313,743 shares fully diluted) and cash of $5.5 million.
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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.