Canada Firm Believes It Found Golden Opportunity in Brazil

Canada-based Matador Exploration Inc. has started exploration as part of its option to earn an 80% interest at the Bom Jardim Project in Pará State, Brazil. The Bom Jardim Project is similar to the Tapajós area, Brazil’s most prolific gold producing region.

Over 6 million ounces of gold have been produced in Tapajós from alluvial workings and, more recently, multi-million ounce bulk-minable epithermal deposits have been identified.

Previous reconnaissance exploration at Bom Jardim has confirmed the geological similarities to the Tapajós area and has identified anomalous gold concentrations in stream sediments associated with outcroppings of felsic volcanic rock displaying epithermal-style alterations coincident with the target structures.

Matador has retained the services of Geoimagem S/C Ltda. of São Paulo, Brazil and Dr. Caetano Juliani, who is a Professor at the Institute of Geociências of the University of São Paulo and an expert on the Tapajos-Iriri area geology, to provide technical and logistical support for the program.

The work will comprise regionally comprehensive stream sediment, soil and rock geochemistry and a reconnaissance level geologic evaluation of the 25,437 hectare property.

Mr. Dean Besserer, P. Geol., of Apex Geoscience Ltd., Edmonton, Alberta, has also been retained to participate in the exploration program and to provide an independent valuation report as part of Matador’s due diligence.

Mobilization of support staff into the Bom Jardim area has commenced and Phase I of a technical program led by Mr. Peter Kleespies, Vice President of Exploration for the company, is scheduled from April 12 through April 24, 2005. A more comprehensive Phase II program is anticipated to commence during June 2005.

The company is continuing its search for other opportunities in Brazil and Western Australia, including the evaluation of the option to earn a 50% interest in the Coolgardie Gold Camp with Austminex Ltd., of Western Australia.

Matador Exploration Inc.
Business Wire



You May Also Like

Brazilian House Goes to the Supreme Against Electoral Rule

The Brazilian Chamber of Deputies intends to appeal to the Federal Supreme Court (STF) ...

Folia de Reis

Caipira May Be Hick But It Also Can Be Hip, in Brazil

"It dawned, I grabbed my viola, put it in the bag, and went traveling…" ...

Brazil Adopts 99 Measures to Stem US$ 30 Billion in Losses to Piracy

Brazil’s National Council to Combat Piracy and Intellectual Property Violations (CNCP) unanimously approved, March ...

Crooked Brazilian Assemblyman Forced to Step Down by Court

Brazilian judge Álvaro Ciarlini from a Federal District Public Finance court in Brazilian capital ...

The Great Book Show

Despite the improvement in book sales, reading in Brazil continues to be an activity ...

Brazil Has a Candidate for the Inter American Bank, But the US Doesn’t Like Him

Brazil, Colombia, Peru, Nicaragua and Venezuela candidates will be participating next week in the ...

August Food Prices Jump 0.76% in Brazil

Brazil’s Consumer Price Index (INPC) rose 0.5% in August, compared to 0.73% in July, reports ...

News of Inflation Brings Stocks Up in Brazil

Brazilian and Latin American equities rose on optimism regarding the latest inflation-related news out ...

US Stubbornness Is Sole Explanation for Cuba Embargo, Says Brazilian President

For the Brazilian president the only reason the US embargo against Cuba continues to ...