CREPORI

6,788.91 ha. Surface sampling has returned values up to 1022.98 g/t with approximately 10% of surface samples returning +5 g/t Gold.

 

Location

Highlights

  • Historical small-scale production

  • Good access. Located 105 km SSW of Eldorado Gold’s TZ Project which is expected to produce 170,000oz / year

  • Extensive placer workings cover several square km and recovered +0.5M oz. No previous drilling.

  • Surface sampling has returned values up to 1022.98 g/t gold with approximately 10% of surface samples returning +5 g/t gold

Description

The property is situated in the Tapajos Gold Province approximately 100km SW of the Serabi gold mine complex. Small-scale historical mining was conducted along two gold bearing quartz veins. There has been no previous drilling. Historic production in the Creporizinho region between 1983 and 1990 has been estimated by others at 400 kg Au per month. Spectacular grades up to 1022.98 g/t Au have been obtained from grab samples of quartz veining with sulphides in the old mine dumps. The property represents an opportunity for the discovery of a narrow-vein high grade gold deposit.

The Company collected 115 surface grab samples at Crepori, 56 samples were of saprolite or weathered bedrock, with the remainder being rock samples. The surface grab samples were collected mainly from four zones; Filão do Milton (24 samples), Ze de Ouro (10 samples) Filão de Parente – Boiadeiro (33 samples) and Raimundo (24 samples). Samples were collected from both outcropping veins and surrounding wall rock and range from below the analytical method detection limit (5ppb) to 148.2g/t gold. Of the 115 samples collected, nine returned values above 5g/t gold, eight returned values of 1 – 5 g/t gold, twenty-six returned values of 0.1 – 1g/t gold and the remaining seventy-two samples returned values of less than 0.1g/t gold. All of the samples which returned values above 1g/t gold were rock samples.

The Company drilled a total of 7 holes for 876m at Crepori during November and December 2017. Holes were located in six separate areas where high grade veins had been mapped on surface but surface exposures in the area were sparse with +99% of the area being covered by recent soils. One hole, CPR-1 returned grades and widths at Ze Milton that are considered very encouraging and require further drilling and follow up.

The bulk of the placer gold previously mined from the area was mined upstream from the Ze Milton and Ze de Bode targets in an area with virtually no outcrop. This area will be the focus of further work aimed at identifying the source of the placer gold previously mined from the Crepori area.

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