Metallurgical testing proved an up to 96.2% recovery rate from a CIL processing plant
NI 43-101 compliant resource based on 11,292m of drilling – Indicated 214,000oz Au at 0.771 g/t; and an Inferred 282,000oz Au at 0.804 g/t (of which 78,400oz Au at 1.775 g/t in the oxide saprolite domain)
39,053 Ha project with mining licenses granted. 13,301m of previous drilling and 94 drill holes. 85% of gold-in-soil anomalies remain untested.
Historic surface gold workings produced +250,000oz Au. Soil sampling has identified 10 gold anomalies of which 4 have been only partially drill tested
Three new zones discovered at Baldo East (6m @ 21.74 g/t, 7m @5.53 g/t & 2m @ 8.30 g/t Au)
Source, M.Claiborne Newton ,March 24 ,2016. NI 43-101 Technical Report on Resources, Cajueiro Project States of Mato Grosso and Para, Brazil. Gustavsson Associates LLC.
Mineral resources are not mineral reserves and do not demonstrate economic viability. There is no certainty that all or any part of the mineral resource will be converted to mineral reserves. Quantity and grade are estimates and are rounded to reflect the fact that the resource estimate is an approximation
The estimate considered a gold price of $1,250 per ounce and a cut-off grade of 0.3 g/t gold