Road Town, Tortola, British Virgin Islands (February 22nd, 2006) – BrazMin Corp (“BrazMin”) (TSX:BZM) is pleased to announce that it has received gold assay results from its Tartarugalzinho gold exploration project (known as “Little Turtle”). BrazMin acquired a 100% interest in the Tartarugalzinho Project in April, 2005. The 9,600Ha property is located along the paved highway north from Macapá, capital of Amapá State, Brazil.
The project is located in the Tartarugalzinho Greenstone Belt which is one of a series of Paleoproterozoic greenstone belts that constitute a wide mineralized corridor that extends from Venezuela, through the Guianas and Brazil into West Africa. These belts host several major gold deposits in South America, including Las Cristinas, Omai, Amapari and Gross Rosebel.
BP Mineração, a subsidiary of BP Minerals (“BP”), explored the Tartarugalzinho Greenstone Belt in the 1980’s. The belt is 50 km long by 10 km wide, with a regional strike ranging from 270 to 320 degrees and dipping 25º to 45º SW. BP completed a program consisting of 88 diamond drill holes, mainly on the 45º SW dipping Mineiro Zone, one of at least four primary gold occurrences known on the Little Turtle property. BP’s in-house scoping study in 1984 reported the presence of gold resources within a tabular-shaped body, with a strike-length of 860 metres and true thickness ranging from less than 1.0 metre to a maximum of 13.0 metres. However, although all the work was performed to the usual high standards of a major mining company, the BP resource estimate does not qualify under National Instrument 43-101.
Based on a petrographic study carried out by BP, the main lithological types include a basal sequence of mafic metavolcanics, meta-tuffs and acid-intermediate metavolcanics. The upper sequence consists of a predominantly sedimentary package, represented by graphite-sericite schists, phyllites, meta-siltstones, meta-greywackes, sericite-quartzites. The whole belt is commonly crosscut by younger dolerite dykes.
Fine-grained gold mineralization is commonly associated with multi-directional gray-quartz veins/veinlets controlled by a NW-trending shear zone, gently dipping to SW and developed on the hanging-wall portion of the quartzite package.
BrazMin recently completed a limited 13-hole diamond drilling program on Little Turtle totalling 1,507m. The program focussed on the Mineiro Zone in order to verify the BP results and to obtain geological data. Five holes were drilled to test for possible strike extensions associated with two other mineralized zones, the Mandiocal, located 1,000 metres to the NW of Mineiro and the Buracão, located 1,400 metres to the SE of Mineiro.
Tony Ransom, President and CEO of BrazMin, commented: “The limited drilling program was designed, in part, to verify the results previously obtained by BP Minerals within the Mineiro Zone. Our results largely confirm the narrow widths of the mineralized package, although the grades are somewhat less than the average of 3.5 g/t gold reported by BP. Three of the five step-out holes returned reasonable results, indicating that additional zones of mineralization are likely to be present within the favourable structural trend on the property. The overall assemblage of greenstone rocks within the property is very encouraging and more work is required to fully test the area’s potential.”
Gold assay results for drill holes TTD-001-05 to TTD-013-05 are as follows:
|Hole Number||From (m)||To(m)||Width*(m)||Grade** (g/t Au)|
|TTD-007-05||no significant assays|
|TTD-008-05||no significant assays|
|(Hole not completed due to fracturing)|
* core lengths are uncorrected for dip or drill angle and do not represent true widths
** gold grades are uncut
Details for the individual holes are given below:
Hole TTD-001-05 was drilled at an inclination of -60° to northeast and was designed to test the central portion of the Mineiro zone. Three mineralized zones were intersected, including 2.94m grading 2.48g/t Au from a depth of 46.62m, 0.98m grading 4.31g/t Au from a depth of 54.46m and 0.99m grading 1.07g/t Au from a depth of 63.34m.
Hole TTD-002-05 was drilled at an inclination of -60° to northeast, in the central portion of the Mineiro zone, approximately 140m east of hole TTD-001-05. One mineralized zone was intersected, returning 8.00m grading 1.08g/t Au from a depth of 48.00m.
Hole TTD-003-05 was drilled at an inclination of -60° to northeast, in the eastern extreme of Mineiro zone, approximately 100m east of hole TTD-002-05. Two narrow mineralized intervals were intersected, returning 1.00m grading 1.78g/t Au from a depth of 62.00m, and 1.00m grading 2.02g/t Au from a depth of 66.00m.
Hole TTD-004-05 was drilled at an inclination of -60° to northeast in the central portion of the Mineiro zone, approximately 170m west of hole TTD-001-05. Two narrow mineralized zones were intersected, including; 1.00m grading 1.73g/t Au from a depth of 46.00m and 1.00m grading 5.72g/t Au from a depth of 56.00m.
Hole TTD-005-05 was drilled at an inclination of -60° to northeast and was designed to test the western extreme of the Mineiro zone, approximately 180m west of hole TTD-004-05. Two mineralized zones were intersected, including; 2.00m grading 2.05g/t Au from a depth of 66.00m and 1.00m grading 3.19g/t Au from a depth of 82.00m.
Hole TTD-006-05 was drilled at an inclination of -60° to northeast and was designed to test the eastern zone of the Mandiocal occurrence. Four mineralized zones were intersected, including 1.02m grading 5.57g/t Au from a depth of 91.54m, 2.00m grading 2.63g/t Au from a depth of 100.70m, 2.00m grading 1.45g/t Au from a depth of 106.70 and 1.00m grading 1.09g/t Au from a depth of 121.70m.
Hole TTD-007-05 was drilled at an inclination of -60° to northeast approximately 190 metres WSW of Hole TTD-006-05. The hole was designed to test the central portion of the Mandiocal occurrence. The hole returned no significant assay results.
Hole TTD-008-05 was drilled at an inclination of -60° to the north and was designed to test the Buracão occurrence located approximately 1,400m east of Mineiro zone. The hole returned no significant assay results.
Hole TTD-009A-05 was drilled at an inclination of -60° to northeast, on the same section as Hole TTD-001-05, to test the down-dip extension of the Mineiro zone. Two mineralized intervals were intersected, including 1.00m grading 2.04g/t Au from a depth of 101.50m and 4.00m grading 1.54g/t Au from a depth of 123.73m.
Hole TTD-010-05 was drilled at an inclination of -60° to northeast, on the same section as Hole TTD-006-05. It was designed to test the up dip projection of the mineralized zones intersected in Hole TTD-006. Two mineralized zones were intersected, including 1.00m grading 5.81g/t Au from a depth of 5.00m and 3.00m grading 7.15g/t Au from a depth of 60.0m.
Hole TTD-011-05 was drilled at an inclination of -60° to northeast to test the down-dip extension of the eastern portion of the Mineiro zone, approximately 110m east of Hole TTD-002-05. One mineralized zone was intersected, including; 4.00m grading 1.44g/t Au from a depth of 114.00m.
Hole TTD-012-05 was drilled at an inclination of -60° to northeast on the same section as Hole TTD-004-05. It was designed to test the down-dip extension of the mineralization in the central portion of the Mineiro zone. One mineralized interval was intersected, including 1.00m grading 1.65g/t Au from a depth of 129.00m.
Hole TTD-013-05 was drilled at an inclination of -60° towards the northeast to test the area between Mineiro and Buracão. The hole intersected 1.00m grading 1.26g/t Au from a depth of 117.00m before being interrupted within the quartzite package, due to drilling problems in a strongly fractured zone.
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 transported by road to ALS Chemex’s (“Chemex”) sample-preparation laboratory in Luziânia, Goiás State. The entire half-core is crushed and 1 kilogram pulverized and homogenized. 150 Gram pulps are then air-freighted by Chemex to their main assay laboratory in Vancouver, Canada. Chemex is an ISO 9001:2000 and ISO 17025 accredited laboratory and is independent of BrazMin.
Gold is determined by fire assay/ICP22 with a detection limit of 0.001 5ppm Au using 50 gram aliquots. 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. QA/QC of the data was monitored through a program of duplicate and blank samples. 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, 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 Tartarugalzinho Project can be obtained from BrazMin’s website, http://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 approx $14.5 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.