Projects - Brazil
Novo Canaã Project
|
Licence |
Type |
Grant Date |
Holder |
Interest Earning or Held |
Royalty |
Future Payments |
|
866718 |
EL |
26/08/2009 |
CMGM |
100% |
N/A |
N/A |
|
866719 |
EL |
26/08/2009 |
CMGM |
100% |
N/A |
N/A |
|
866820 |
EL |
02/04/2009 |
CMGM |
100% |
N/A |
N/A |
The Project area covers 29,199Ha.
CMGM holds three exploration licences at Novo Canaã, approximately 100km west of the Rio Pombo Project. Mapping undertaken to date has identified a complex package of Archaean and Proterozoic granite and gneiss in contact with Neo-Proterozoic felsic volcanic, with localised hydrothermal alteration, adjacent to a Meso-Proterozoic graben margin. Regional stream sediment geochemistry has identified two regionally significant anomalies (8.4ppb Au and 2.1ppb Au). A highly weathered quartz vein, hosted by a saprolite altered mafic intrusive, was sampled at a road side cutting close to the urban limit of the town Nova Canaã. Results from three samples were anomalous, with saprolite assaying 0.026-0.033g/t and the vein material assaying 0.34g/t Au from grab samples. Further work will include regional soil sampling, structural mapping and target resolution.