- Resouro Gold has mobilized a drill rig and completed three diamond drill holes
- Resouro is currently drilling the fourth in the initial 13-hole drill program
- Desktop review and modelling of historic data confirmed several “significant geochemical anomalies”
- Luisão-Dionísio trend returned grades of 27.3g/ton and 32.9 g/ton of Au
- A collected sample of the host hydrothermally-altered granite returned a grade of 3.91 g/ton of Au
- The company currently has four 100 per cent-owned projects in the mining-friendly Brazilian states of Mato Grosso, Tocantins/Goias, and Pernambuco
- Resouro Gold’s (RAU) share price remained unchanged at C$0.355 as of 11:08 am EDT
Resouro Gold (RAU) reports progress at the company’s 100 per cent-owned Novo Mundo Gold Project in Brazil.
The announcement was made just over two months since Resouro began trading on the TSXV.
The company mobilized a drill rig and has completed three diamond drill holes and is currently drilling the fourth in the initial 13 hole drill program.
Key activities over the last two months have been:
- Desktop review and modelling of historic data – including soil, rock chip, and drilling data defining the major mineralized trends within the main Novo Mundo mineral rights – confirmed a number of significant geochemical anomalies.
- Diamond drill core from previous campaigns has now been re-logging to further defined hydrothermal alteration and mineral assemblage associated with both trends. New codes will be used on the geological modelling of the current drilling program.
- Rock chips samples from two major open pits at the Luisão-Dionísio trend returned grades of 27.3g/ton and 32.9 g/ton of Au. These samples were composed of quartz veins with sericite alteration and high pyrite content.
- A sample of the host hydrothermally-altered granite was also collected and returned a grade of 3.91 g/ton of Au.
The first two diamond drill holes drilled were targeted at Dionísio.
Both intercepted at least two zones with strong sericite-plus pyrite alteration and quartz veins, similar to the mineralized zones found in historical drilling and rock chip samples from the open pit.
Resouro Gold Inc is a gold exploration and development company with operations in Brazil.
It currently has four 100 per cent-owned projects in the mining-friendly states of Mato Grosso, Tocantins/Goias, and Pernambuco.
Two of the projects, Novo Mundo and Buracao, are in the advanced exploration stage whilst the Santa Angela and the Pernambuco make up the companies’ exploration pipeline.
The Santa Angela Project is south of the Novo Mundo project and is adjacent to a historic granite-hosted gold mine and has been subject to limited exploration that the company intends to follow up.
The Pernambuco Project is the earliest stage exploration project in the company’s portfolio where the company is planning a grassroots exploration campaign.
Resouro Gold’s (RAU) share price remained unchanged at C$0.355 as of 11:08 am EDT.