Tiger Resources Limited, an Australian exploration company based in Perth, continues to invest in projects outside of Australia because of the greater potential to find and develop new resources.
The company has added Brazil to its list of international interests with two new gold acquisitions in the Tapajós region in northern Brazil.
“This is a strategic investment in the world renowned Tapajós district, which has traditionally produced up to 40 per cent of Brazil’s total gold output in the 1970s and 80s and even now some 80,000 garimpeiros (local alluvial miners) are reported to be producing 200,000 to 300,000 ounces of gold annually from alluvial mining,” said Tiger Resources Executive Director, David Zukerman.
The two projects are the Bom Jardim Creek project in the southeast state of Para and the Rosa de Maio project in the state of Amazonas.
High grade gold bearing quartz veins are the dominant mineralization style of both projects, with lower grades found in the hosting wall rock alteration.
Preliminary sampling of the Rosa de Maio Project has identified very high gold values within the quartz veins, including 108 g/t, 60 g/t and 11 g/t gold. Similar sampling within the Bom Jardin Project returned bonaza grades in excess of 100 g/t gold.
“We look for projects that include historical mine workings and favorable geology that are essentially untested for hard rock gold mineralization using modern exploration technology,” Mr. Zukerman said.
Among the major exploration and mining companies attracted to the region are Rio Tinto, Barrack Gold, Placer Dome, Phelps Dodge and Kinross Gold.
“Exploration to date within the project area for primary mineralization has been minimal and drilling has not previously been undertaken so our goal is to spend a minimum of US$ 1 million a year on drilling to delineate a significantly mineralized system,” Mr. Zukerman said.
Tiger Resources Limited is an early identifier of world-class mining deposits in emerging resource provinces around the globe and has a major investment in two copper cobalt projects in the Democratic Republic of Congo.
About the Tapajós Province
Located in northern Brazil, gold was first discovered in the district in the late 1950s. Official government estimates of total Tapajós alluvial gold production to 1993 place this at between 7 million and 10 million ounces, but actual production is believed to be two to three times higher.