Brazil Resources Inc. Announces New Polymetallic Copper-Gold Discovery at the Artulândia Project in Goias State, Central Brazil
December 11, 2012
Two high-grade gold, copper, lead, zinc, and silver mineralized zones discovered to date. Both zones extend east to west, and measure at least 2,000-meters by 250-meters. Five additional mineralized areas targeted for follow-up exploration. First pass analysis appears to suggest a zoning of metals.
Recent sampling (Trench 2), a continual 50m chip channel sample analyzed at 1m intervals returned 0.21% copper including 19m at 0.33% copper. In addition, two gold rich zones returned 16m at 0.41 g/t gold and 9m at 0.45 g/t gold.
Trenching over geophysical induced polarization (IP) anomalies confirms the close relationship between surface rock samples, soil geochemistry and geophysics.
- Initial diamond drilling program planned near-term.
Vancouver, British Columbia - December 11, 2012 - Brazil Resources Inc. (the “Company” or “Brazil Resources”) (TSX-V: BRI OTCQX: BRIZF) is pleased to announce trench and rock samples results from the ongoing exploration program at its Artulândia project (the “Project”). The Project covers 12,000 acres within the Company´s 247,000-acre Pireneus district and is located in Goias state, one of the most prolific mining districts in Brazil. The Project has excellent infrastructure and is a three hour drive west of Brasilia, the capital city of Brazil.
Click here to view Figure 1 – Artulândia location map, with nearby mineral deposits
Stephen Swatton, President and CEO, stated, “The geological team believes that we may be delineating a significant new polymetallic discovery within the Pireneus mineral belt. Mineralization is extensive and has expanded with these recent results. We’re excited to start drilling this new project.”
In its news release dated September 6, 2012, Brazil Resources announced geophysical and geochemical results that led to the identification of the first mineralized copper-gold zone of approximately 1,000-meters by 250-meters, open in all directions. The true width of the mineralization has not yet been determined. Elevated copper values of up to 0.81%, gold values of up to 2.3 g/t and silver values of up to 344 g/t, plus additional anomalies of lead-zinc were previously reported on the southern target, known as Alvo South.
Following up from the previous work, two trenches have been exposed and sampled at Alvo South. The trenches intersected fresh rock beneath a thin approximately 1m soil covered zone. Samples yielded anomalous results of up to 0.8% copper, 1 g/t gold, >1% zinc, >1% lead and 70 g/t silver (five different samples) and thus, confirm that the mineralized zone is coincident with the soil anomalous zones and geophysical anomalous targets, and seems closely related to volcanic rocks.
Recent rock samples were collected at the northern target, known as Alvo North, 3.5 km northeast of Alvo South to investigate previously identified soil geochemical anomalies. The rock samples returned high grade values , including 0.31% copper, 1.3 g/t gold, 13.8% zinc, 2.17% lead and 301 g/t silver (from five separate samples), defining a new mineralized trend which remains open to the west. From the rock sampling to date Alvo North appears to be more base metal rich than Alvo south and the results may be indicating a general zoning of metals but the fieldwork is still at an early stage.
The Company is planning a diamond drill program to investigate these findings in 2013.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration company with a focus on the acquisition and development of projects in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, the Company is advancing its Cachoeira, Montes Áureos, Trinta and Maua Gold Projects located in the Gurupi Gold Belt in the state of Maranhão, northeastern Brazil, and its Artulandia Copper-Gold Project in central Brazil.
For further information, please contact:
Stephen Swatton or Patrick Obara
Telephone: (855) 630-1001
Note Regarding Scientific and Technical Information
Paulo Pereira, the Company's Vice President of Exploration, has supervised the preparation of and reviewed the technical information and verified the data contained in this document. Mr. Pereira holds a Bachelor degree in Geology from Universidade do Amazonas in Brazil, is a qualified person as defined in National Instrument 43-101 and is a member of the Association of Professional Geoscientists of Ontario.
Brazil Resources operates QA/QC controls of sampling and analytical procedures. For all methods of geochemical sampling, duplicates are inserted in the sample batches with one duplicate for every ten samples. Samples from the Artulândia project are transported by company staff from the project by road to SGS-Geosol Labs in Goiania, Goias for preparation, and pulps are sent to SGS-Geosol Labs in Vespasiano, Minas Gerais, Brazil in secured and sealed sample bags for analysis. Samples are assayed by the lab for gold using a 50 gram fire assay with AAS finish and ICP for 37 elements.
Forward Looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events, including statements regarding the Company's beliefs regarding future exploration of the Artulândia project and exploration plans in respect of its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company's current exploration programs and objectives can be achieved; financing will be available if and when needed on reasonable terms; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that the Company has a limited operating history; that resource exploration and development is a speculative business; that the Company may lose or abandon its property interests; that the Company's properties are in the exploration stage and without known bodies of commercial ore; that the Company may not be able to obtain all necessary permits and approvals on any of its properties; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; potential inability to find suitable acquisition opportunities and/or complete the same and other factors listed in the Company's public filings, including its Management's Discussion and Analysis for the year ended November 30, 2011. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new.