Projects - Brazil

Serra Verde Project

The Tapajós Gold Province is the western portion of the Archean-Proterozoic Amazon Craton covering an area of around 135,000km2.

Widespread alluvial gold has been recovered by artisanal miners using primitive methods for over 30 years. Over 600 tonnes of alluvial gold is estimated to have been produced in the last 40 years.

Significant primary gold deposits include Tocantinzinho, Palito, São Jorge, Cuiu Cuiu, Creporrizinho, Ouro Roxo, V3 and Jatai, all within 250km of the Serra Verde Project.

CMGM has acquired five project areas in the Western Tapajós Gold Province

The Serra Verde Project, which has been operated for over thirty years as a small-scale alluvial artisanal mining operation has the potential to host multiple high-grade gold deposits.

The Project is located 120km from the Tocantinzinho granite-hosted deposit, which contains an NI 43-101 compliant Measured and Indicated Mineral Resource of 2.1 million ounces of gold.

The Serra Verde Project is located 350km from the town of Novo Progresso and 400km from the town of Itaituba, which are major service centres for exploration and mining activities.

Existing small-scale artisanal operations at Serra Verde provide an established base for exploration activities. The project area is approximately 20km from the nearest town of Crepori and can be accessed by light aircraft in 10 minutes or by off road vehicles within two hours.

Licence	Type	Grant Date	Holder	Interest Earning or Held	Royalty (in addition to 1% CFEM Royalty)	Future Payments
850564	EL	14/07/2008	CMGM	100%	1.5%	R$675,000+  R$2,000,000 Mining Approval
850359	ELA	TBA	Vendor	100%	1.5%	R$675,000+  R$2,000,000 Mining Approval
850353	EL	TBA	CMGM	100%	N/A	N/A
850173	EL	06/12/2010	CMGM	100%	N/A	N/A
850336	ELA	TBA	CMGM	100%	N/A	N/A
850835-850884	ELA	TBA	CMGM	100%	N/A	N/A
850174-850180	PLG	TBA	Da Silva*	100%	N/A	N/A

The Project area covers 21,202Ha.

*Applications by Jonas Ferreira da Silva, a Director of CMGM were made to expedite the acquisition of key leases. All applications granted to Jonas Ferreira da Silva will be immediately transferred to CMGM for zero consideration and are covered by separate transfer agreement between the Director and CMGM.

In parallel to these applications and dealings, Venturex executed an Agreement with João Batista da Silva Ferreira to acquire tenements 850564 (granted to CMGM) and 850359 (under transfer to CMGM).

The following consideration to João Batista da Silva Ferreira is contingent on the gazetting of the central ELAs (850835 – 884) currently under application:

ƒ Total cost of cash payments over four years of BRL$925K (BRL$250K in Year 1, followed by equal instalments of BRL$225K in Years 2-4);

ƒ Payment on  Mining Approval of BRL$2.0M; and

ƒ A production royalty of 1.5%

Serra Verde Tenure

Preliminary exploration activities by CMGM geologists, including surface sampling, mapping and monitoring of current small scale production, have confirmed the potential of the Serra Verde Project area to host multiple high grade gold deposits.

Assay results >0.2g/t in the central Serra Verde Project area

Currently small scale production is centred on high grade vein systems hosted by deformed Palaeoproterozoic plutonic rocks of the Parauarai Suite and Creporizao Suite and medium to high grade metamorphic rocks of the Cuiu Cuiu Complex. 

Veins in the current operations area are typically eastwest trending and are interpreted as dilational structures within the northwest trending regional shear zones in the Crepori Structural Zone, a parallel mineralised corridor to the Tocantinzinho Structural Zone.

Of 91 bedrock samples assayed, 29 values exceeded 1g/t Au and 10 exceeded 31.1g/t Au. The highest grade returned to date is 254g/t Au. Most of the high grade samples are from quartz-sulphide veins approximately one metre wide.  The veins form sub-parallel sets or irregular stockworks. The altered granite hosts rocks are also mineralised, returning gold grades of up to 100g/t Au.

Intensely altered and veined granitoids are the host to most mineralised veins and stockworks and andesitic intrusives and extrusives are also present.  Basin areas which were the first targets of garimpo mining activities are covered by transported gravels and sands which have been worked and re-worked during various phases of sluicing.

 
Mineralised quartz vein (results up to 254g/t Au) with intensely altered and veined granite host rock

 


Top Left and Top Right: sulphidic quartz vein style mineralisation. Central Left: epithermal silica veins, weathered equivalents were mined with high grades. Centre Right: intensely altered granite, disseminated pyrite, banded veins. Bottom Left: ferruginous saprolite after Granite. Bottom Right: intermediate/mafic bedrock (rock in hand specimen is silicified and has disseminated sulphides)

Back to top