Located due west of Cajueiro project along same trend. Historic placer gold workings previously produced +500,000oz Au.
Historic placer gold workings previously produced +1Moz Au, mainly from Mutum target
Mutum shows widespread evidence of disseminated mineralization on surface
Multiple high grade targets with no previous drilling returned values of +5g/t gold with a maximum of 118.7g/t gold
Apiacás comprises a package of properties covering seven main target areas. There has been no previous drilling. Wide-spaced trenching over prospective structures along a two km trend, adjacent historic garimpeiro workings, has achieved some promising results, including 9m @ 9.44 g/t Au, and 9m @ 4.5 g/t Au. The initial impression of the Company is that there is potential for discovery and delineation of significant high-grade gold resources at Apiacás. In addition, copper values including values exceeding 1% Cu were obtained from grab samples at the Paulinho Troca Tiro prospect at Apiacás.
Current exploration update
On February 4, 2019 the Company reported that it has been granted an additional 42,000ha within the Apiacás district, adding the highly prospective Mutum target which is characterized by widespread phyllic alteration and disseminated pyrite.
The Mutum target area is estimated to have produced at least 90% of the estimated 1Moz of the placer gold produced from the Apiacás district. Unlike the other known targets at Apiacás, the Mutum target is characterised by widespread quartz-sericite-pyrite alteration of granitic rocks with minor quartz which extends over at least 4 square kilometres. Artisanal mining of this altered material has taken place at several places suggesting that the altered and pyritized rocks contain gold. This suggests that a large disseminated gold deposit may be present at Mutum.
On June 4, 2019 the Company announced positive results from the initial surface rock sampling program recently completed at the Mutum target.
Channel sampling at the Mutum target returned 12m @ 2.0g/t gold in weathered rock with the section being open in all directions
Other surface rock grab sampling at the Mutum target returned gold values ranging from 0.5 – 96.6 g/t gold(12 of 16 samples returning values above 0.5 g/t gold)
Three new targets have also been identified within the Apiacás project area at Nelson Rocha, Ze Rodrigues and Chaveta. The results from 26 grab samples collected at the Nelson Rocha target returned values ranging from 2 – 335.2 g/t gold from thirteen of twenty-six samples. Five samples returned copper values of 0.2 to 1.2% Cu.