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 confirms high-grade gold discovery in Brazil
Perth-based explorer Beadell Resources (ASX: BDR) has confirmed a major new gold discovery within the Tartaruga Project in Brazil.
In a statement, the company revealed that additional face sampling rock chip results included 192.6 g/t gold, 105.4 g/t gold and 98.2 g/t gold over a mineralised strike length in excess of 400 m open in all directions.
During the morning trade, shares in Beadell increased 2.2% to 23c.
The new discovery, called “Rio de Ouro”, is located only 2 km east of the current resource area of Mineiro and Mandiocal.
These results follow on from the initial announcement of the discovery where up to 470 g/t gold was reported.
A total of 17 additional rock chip face samples were collected in late December 2009 which averaged 25.3 g/t.
Managing director Peter Bowler said face sampling traverse completed west of the original 470 g/t rock chip confirmed the continuity of the high grade shear / vein hosted gold mineralisation with results up to 105.4 g/t gold.
This sampling highlighted the existence of multiple high grade parallel zones assaying 14.7 g/t and 6.2 g/t, while the sampling also demonstrated that lower grade mineralised halos to the high grade zones are also present.
A further face sampling traverse completed in the eastern extension of the artisanal (garimpo) mining area also intersected very high grade mineralisation with results up to 192.6 g/t.
A continuous insitu face sample across this whole zone was not possible due to a 1 m area of loose rock material within the core of the high grade zone which was not sampled.
Face sampling on the southern margin of the zone intersected 1.7 m @ 12.5 g/t, including 0.2 m @ 98.2 g/t gold. The eastern extension of this zone remains completely open.
The Rio de Ouro discovery is located immediately east of the Rio Tarataruga Grande where shallow cover associated with the northern delta of the Amazon basin masks the prospective basement rocks. The cover appears to be a thin drape of slowly east deepening fluvial sediments which average 2 m thick on top of the new discovery. The landscape is characterised by open cleared farmland with easy access for drill rigs.
A first pass RC drilling program is currently being planned and will be expedited as soon as is possible in the current quarter.
The Rio de Ouro discovery remains completely undrilled with no previous drilling completed east of the Tartaruga Grande River. Excellent potential exists to define a significant resource in the area of artisanal mining and to explore for extensions and repetitions of the mineralisation along strike.
