Beadell Resources (ASX: BDR) is a gold development company. Its primary asset is the Tucano gold project, located in Brazil. Tucano has gold resources of approximately 3 million ounces with 1.2 million ounces in optimised open pits (optimisation based on a US$1000 gold price) plus over 2,500km² of highly prospective gold exploration tenements.
Beadell also has an extensive portfolio of key gold exploration tenements throughout Australia and Brazil, including the prospective Tropicana East Project located adjacent to the Tropicana gold deposit managed by Anglogold Ashanti Australia and the Handpump Prospect located within the West Musgrave Complex of the remote central eastern parts of Western Australia.
Beadell Resources hits bonanza gold grades in Brazil
Beadell Resources Ltd (ASX: BDR) said a zone so far traced for 400 metres has given high grade results including 470.5 grams/tonne gold, 84.4 g/t, 27.4 g/t gold and 18.3 g/t, on a discovery area now called Rioderouro.
This is only 2 kilometres east of the company's Minerio and Mandiocal prospects on the Tartaruga licences.
Exploration director Robert Watkins said detailed face sampling and mapping has defined a high grade anastomising shear hosted gold deposit over 200m strike length in the main central area of recent artisanal workings.
Face sampling at about 50 metre traverses intersected high grade true width intervals including 1 metre @ 10.2 g/t gold, including 0.5m @ 18.3 g/t gold, 0.1m @ 84.4 g/t, 1.8m @ 2.7 g/t and 1m @ 8.4 g/t gold.
Two single point rock chip samples taken from the central area returned exceptionally high grade results of 470.5 g/t and 27.4 g/t gold.
Beadell said the new discovery was thought to be hosted in the same quartzite unit that hosts the Mineiro and Mandiocal deposit 2 km to the west.
The mineralisation was characteristically semi conformable to the quartzite unit forming a tabular shear zone that has many similarities to the Mineiro deposit, with two continuous parallel zones separated by 3 to 4 m.
Watkins said the new discovery is immediately east of the Rio Tarataruga Grande river where shallow cover associated with the northern delta of the Amazon basin masks the prospective basement rocks.
Rioderouro remains completely undrilled with "excellent potential to define a significant resource in the area of artisanal mining" and also to explore for extensions and repetitions of the mineralisation along strike.
No drilling has previously been targeted east of the river. Access east of the river was via the main sealed highway bridge which crosses the river 10 km to the south.
Current JORC inferred resources at the Tartaruga project was 5.5 million tonnes grading 1.6 g/t gold for 279,000 ozs (at an 0.5g/t cut off).
"Scoping study pit optimisation on the Mineiro and Mandiocal deposits alone indicate robust cash flows at current gold prices," the company said.
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