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Brazilian Metals Group latest iron hits advance Rio Pardo project in Brazil

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The latest drilling by Brazilian Metals Group (ASX: BMG) has identified that the Scorpion Prospect is contiguous with the Josilene Prospect, helping to advance the Rio Pardo iron ore project in Brazil.

The latest reverse circulation results from Scorpion include:

- 4 metres at 20.50% iron from 12 metres;
- 16 metres at 20.08% iron from 24 metres;
- 40 metres at 19.45% iron from 140 metres; and
- 44 metres at 18.75% iron from 92 metres.

Brazilian Metals will now refer to the prospect as the Josilene-Scorpion, which includes a continuous mineralised zone which has been drill tested for a 13 kilometre strike length.

Drilling so far has penetrated wide zones of magnetite and hematite bearing material from the surface to the bottom of the hole in every case on the Josilene area, which has carried over to the Scorpion region of the prospect.

This represents a significant area of mineralisation and is open to depths below the current drilling.

Drilling established that the Scorpion prospect, within the project, is contiguous with the Josilene prospect and will now be the Josilene – Scorpion prospect.

Highlighting the prospectivity of the area, several large iron deposits in the northern Minas Gerais province, where the project is located, have been studied at definitive feasibility level and have focussed on the beneficiation aspects of the iron bearing material.

A leading example of this is the Vale do Rio Pardo project, located to the south of company’s project, owned by Honbridge Holdings (HKG: 8137).

 

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