Projects - Brazil
Rio Pombo Project
|
Licence |
Type |
Grant Date |
Holder |
Interest Earning or Held |
Royalty |
Future Payments |
|
866691 |
EL |
24/06/2004 |
CMGM |
100% |
3%
|
N/A |
|
866692 |
EL |
14/09/2004 |
CMGM |
100% |
||
|
866943 |
EL |
18/11/2005 |
CMGM |
100% |
||
|
866238 |
EL |
13/11/2008 |
CMGM |
100% |
N/A |
N/A |
The Project area covers 5,510Ha.
Tenements 866691 and
866692 are in their final year of exploration.
In November 2011, a Mining Lease will be applied for if
current drilling confirms the potential for a mining operation.
The Rio Pombo Project is located in the Alta Floresta Region of central northern Mato Grosso. The
tenements are located approximately 40km east of the town of
Terra Nova do Norte and 180km from the major regional agricultural
centre of Sinop.
The Alta Floresta region was the focus of a major
gold rush in 1978 when the opening of the main highway, which links
Cuiabá to Santarem in Pará State, allowed access to the region by garimpeiros. Initial alluvial gold discoveries were made at Alta
Floresta and Peixoto de Azevedo with the discovery of many new
garimpos in the following two years.
In the Project area and to the west within the
famous Figuera Branca Garimpo, extensive areas of alluvial gold have
been mined along the Pombo River (Rio Pombo) and tributaries
resulting in the discovery of numerous vein systems, some of which
have been exploited in a limited manner by small scale open pits and
shafts. Large scale garimpeiro workings are not located within the
granted tenure. Much of this
activity in the region ceased in the mid 1990s. Subsequently many
more mineralised quartz veins have been discovered by the previous
tenement holder during the course of clearing for grazing pasture.
Most of these discoveries have not been tested or exploited by garimpeiros as they have not been permitted on site.
The Rio Pombo Project is in an early phase of
exploration. Recent
regional mapping has confirmed the potential of the Project to host
a large tonnage gold deposit.
The geology and known mineralisation styles share many
characteristics with epithermal and porphyry style mineralisation.
A large porphyrytic unit has been identified within a
rhyolitic volcanic sequence.
Numerous veins have been identified and various locations show
anomalous gold, significantly altered host rocks and major
structures.
An initial sampling program was completed in May 2008 which included 400m x 400m spaced soil samples and grab samples. Follow up 50m x 50m soil sampling and further rock chip sampling was completed in October 2008. Approximately one third of the available area has been sampled at this regional scale. Trenching was completed over mineralisation visible at surface where rock chip and grab samples were positive.
The results confirm the presence of significant gold mineralisation along the northeast trending structures.
Mineralised, veined and sheared granites returned samples up to 170.79g/t Au (grab sample of mineralised vein). The outcrop hosting the peak result has a corresponding adjacent soil anomaly of 0.267g/t Au. Trenching of the same structure produced best results of 2m @ 17.9g/t Au (trench 010RPTR029). Other trench results include 2m @ 35.7g/t Au, 8m @ 1.15g/t Au, 4m @ 3.48g/t Au, 6m @ 2.92g/t Au, and 6m @ 1.84g/t Au. Aircore drilling is currently in progress to provide further follow up of anomalous soil and trenching results.
