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Proactive Investors (AU) - Beadell Resources notches high grade gold discovery in Brazil

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Additional information
Additional Information
Market: ASX
Sector: Gold Mining
Epic: ASX:BDR
News: Latest news
Web Site: Beadell Resources
Other Articles: 07-01-201005-01-201001-12-2009

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Beadell Resources

Beadell Resources

Beadell Resources Limited (ASX: BDR) was incorporated in May 2007 to acquire mineral interests throughout Australia and Brazil, with an emphasis on gold.

Beadell's exploration tenements form a portfolio from advanced drill-ready targets at the Tartaruga Project in Northern Brazil and Reedy Creek Project in Victoria, to greenfields exploration projects in the remote central eastern parts of Western Australia. The Tartaruga Project in Brazil contains gold exploration assets which have the potential for early development.

 

Monday, November 23, 2009

Beadell Resources notches high grade gold discovery in Brazil

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Investors in Beadell Resources (ASX: BDR) have received a huge boost today, with news of a major new gold discovery of up to 470 g/t gold in Brazil.

Located within the Tartaruga Project in Brazil, face sampling and rock chip results included 470.5 g/t gold, 84.4 g/t gold, 27.4 g/t gold and 18.3 g/t gold over a mineralised strike length - in excess of 400m long open in all directions.

The new discovery, called “Riodeouro” is located only 2 km east of the current resource area of Mineiro and Mandiocal deposits.

The new discovery remains completely undrilled.  And is thought to be hosted in the same quartzite unit that hosts the Mineiro and Mandiocal deposit 2 km to the west.

Tartaruga has a current resource of 279,000 ozs of gold.  A scoping study pit optimisation on the Mineiro and Mandiocal deposits has indicateed robust cash flows at current gold prices.

The new discovery and other identified ore sources indicate the potential to add significant mine life to the current modelled production profile from the Mineiro and Mandiocal deposits.

Further evaluation of the new discovery as well as development options for the project are being assessed.

 

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