BrazMin Announces Additional Mineralized Intercepts from the São Jorge Gold Project
Aug 17, 2006
Road Town, Tortola, British Virgin Islands (Aug 17, 2006) - BrazMin Corp. (“BrazMin” or the “Company”) (TSX: BZM) is pleased to announce the results of a further five diamond drill holes from a Phase II Exploration Program on the Company's 100%-owned São Jorge Gold Project (“São Jorge” or the “Project”), located in the TapajÓs Gold District, ParÁ State, Brazil.
The five drill holes reported in this release represent a combination of exploration and infill holes; highlights include:
Drill hole SJD-052-06 was collared on the northern side of the Wilton Pit, with the objective of intersecting the down dip extension of the main Wilton Zone mineralization at the 025 to 050 metre elevation (150 to 175 metres below surface). Four main mineralized zones were intersected, including 4.80 g/t Au over 1.71 metres, 1.10 g/t Au over 5.81 metres, 2.31 g/t Au over 14.74 metres and 2.14 g/t Au over 4.28 metres.
Drill hole SJD-056-06 is the second hole within the recently discovered Kite Zone. SJD-056-06 was collared 205 metres northeast of the discovery hole SJD-055-06 and intersected two mineralized zones which yielded 2.29 g/t Au over 3.18 metres and 1.02 g/t Au over 1.26 metres. Additional drilling is underway to further assess this zone.
Targets West of the Wilton Zone
Results have been received for three holes testing targets west of the Wilton Zone. Drill hole SJD-060-06 was collared between the Wilton Zone and the Wilton West Pit with the objective of testing the down dip extension of the mineralized zone intersected in drill hole SJD-044-05, which, as announced in a BrazMin News Release dated February 16, 2006, yielded 1.01 g/t Au over 6.00 metres. SJD-060-06 intersected four main mineralized zones, including 1.19 g/t Au over 9.77 metres, 1.40 g/t Au over 9.23 metres, 1.06 g/t Au over 4.36 metres and 3.46 g/t Au over 2.23 metres.
Drill hole SJD-059-06 was drilled below the central portion of the Wilton West Pit, approximately 130 metres west of hole SJD-060-06. A single mineralized intercept yielding 1.62 g/t Au over 0.94 metres was encountered.
Drill hole SJD-054-06 was drilled below the western portion of the Wilton West Pit. The hole encountered several zones of low-grade mineralization, but no values in excess of 1 g/t Au. BrazMin believes that structural complexity in this area may be the cause of the weaker zone of mineralization encountered.
SJD-052-06 - Wilton Zone (inclination: -55°, azimuth: 180°, length: 301.10 metres)
SJD-054-06 - West of Wilton Zone (inclination: -55°, azimuth: 360°, length: 251.84 metres)
SJD-056-06 - Kite Zone (inclination: -55°, azimuth: 180°, length: 201.20 metres)
SJD-059-06 - West of Wilton Zone (inclination: -55°, azimuth: 360°, length: 257.30 metres)
SJD-060-06 - West of Wilton Zone (inclination: -55°, azimuth: 360°, length: 172.45 metres)
* widths are drill intersected and do not represent true widths
** Au grades are uncut
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this release were collared using HQ (63.5mm)-sized core in the oxidized saprolite zone and NQ (47.6mm)-sized core in the fresh (sulphide) bedrock. The core is logged and photographed by BrazMin staff and then split using a diamond saw. Half the core is stored on-site in a secure core shed and the other half is sampled, bagged, secured, and stored on-site until several holes are ready for transporting by road to SGS-Lakefield-Geosol Laboratorio Ltda's (“Lakefield”) sample-preparation laboratory in Itaituba, Brazil. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150 Gram pulps are then air-freighted by Lakefield to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. Lakefield is ISO14001 and ISO 9001:2000 accredited and is independent of BrazMin. Gold is determined by fire assay/atomic absorption with a detection limit of 5ppb Au using 50 gram aliquots. Lead fire assays use silver as a co-collector to facilitate easier handling of prills as well as to minimize losses during the cupellation process. Selected samples will later be analyzed for other elements such as silver, copper, lead, zinc, etc. by ICP spectrometry/multi-acid digestion. The laboratory is instructed to automatically reanalyze abnormally high gold values. Specific gravity determinations are done using a gas picnometer. QA/QC procedures include the submission by BrazMin of systematic duplicates, blanks and standard samples within the sample batches submitted to Lakefield. In addition, Lakefield inserts its own standards into each sample batch. The results from these control samples indicate acceptable consistency of analysis. Selected representative pulverized sample duplicates are submitted for referee analyses to ALS Chemex's laboratory in Vancouver, an ISO 9001:2000 and ISO 17025 accredited laboratory which is independent of BrazMin.
BrazMin's exploration programs are being managed by BrazMin's President and CEO, Mr. Tony Ransom (Pr.Sci.Nat.), and, on-site, by BrazMin's VP Exploration, Mr. Paulo Ilidio de Brito (Member: AusIMM), both of whom are qualified persons within the meaning of National Instrument 43-101. Mr. Ransom, who is responsible for the technical material in this release, has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information. Geological logging, sampling and core handling procedures were carried out under the supervision of Mr. Ilidio.
BrazMin is a TSX-listed company focused on the acquisition, exploration and advancement of high quality gold projects, primarily in Brazil. BrazMin has a well-qualified exploration and management team with extensive experience and expertise in gold exploration and project management, both within Brazil and worldwide.
Mineral rights to São Jorge are held 100% by BrazMin's wholly-owned subsidiary, Brazilian Resources MineraÇão Ltda. A technical report dated March 31, 2006 and entitled “Technical Report on Sao Jorge Project, ParÁ State, Brazil for BrazMin Corp.” can be obtained from SEDAR at www.sedar.com.
BrazMin has a treasury of approximately CDN$ 13.7M. The Company has 27,054,222 shares outstanding and 35,551,245 shares fully diluted. For additional information on BrazMin and its projects visit the Company's website at www.brazmin.comor contact:
Fiona Childe, Ph.D., P.Geo.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding exploration results and potential mineralization) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in gold prices, changes in equity markets, political developments in Brazil, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the gold exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of buy . Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.