Australian Firm Sure It Will Strike Gold in Brazil

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.


PRWeb

Tags:

You May Also Like

Brazil’s Landless Resist Police and Killer Militias

A Brazilian Military Brigade, under orders from sub-commander Paul Mendes, on Tuesday, June 3, ...

After All-Time High, Brazilian Market Tumbles

Brazilian and Latin American bourses fell on profit taking this Friday. In the U.S., ...

US Bank Morgan Stanley Warns Brazil Growth Might Be Close to Zero

Brazil's economy could suffer a contraction during two consecutive quarters at the end of ...

Brazil Adopts Swift’s Modest Proposal Condemning Children to Slow Death

In 1729, the writer Jonathan Swift presented what he called “A Modest Proposal” to ...

Congonhas, in São Paulo, the busiest Brazilian airport

Carnaval Brings Back Lines and Delays at Brazil’s Airports

It happened on November 1st during the All Souls Day celebration and then again ...

Brazil’s Gol and Varig Merge Operations and Enhance In-Flight Service

Brazilian airline Gol has announced that it has received ANAC (Brazil's National Civil Aviation ...

Messiahs, Troubadours, and Bards of Brazil

I knew I had to visit Juazeiro do Norte, Ceará, as soon as I ...

Argentina Army Seems to Be Smuggling Weapons to Brazilian Mafia Groups

A Brazilian congressional committee began Wednesday, February 1st, contacts with Argentina and other neighboring ...

Brazil’s Supreme Grants Injunction and Boy Sean Goldman Stays in Brazil

Minister Marco Aurélio Mello, from the Brazilian Supreme Court (STF) decided to grant habeas ...

Brazilians Step Up Actions Against Smoking

On World Tobacco-Free Day, commemorated today, Brazil’s Minister of Health, Humberto Costa, handed the ...