by Greg Klein | October 26, 2016
Two new properties add over 18,000 hectares to Equitas Resources’ (TSXV:EQT) Brazilian gold portfolio. Both in the Juruena Gold Belt roughly 180 kilometres southeast of the flagship Cajueiro project, the Santa Helena and Colider Leste acquisitions result from a protracted bidding process, the company stated October 26.
Santa Helena sits between Equitas’ Colider and Rio do Pombo projects. Highlights from previous sampling on the property’s Gabriel pit assayed 2.7 g/t, 4.81 g/t, 11.43 g/t, 11.73 g/t, 15.1 g/t and 45 g/t gold. About 170 metres long and up to 70 metres wide, the pit was subject to garimpeiro mining and limited 1990s drilling by Rio Tinto NYSE:RIO. Those drill results aren’t currently available. Previous soil surveys at Santa Helena revealed three kilometre-scale gold anomalies along a seven-kilometre trend associated with a shear zone.
Future work would call for mapping, trenching and an induced polarization survey to evaluate the soil anomalies.
The early-stage Colider Leste property shows similarities with the geology, structure and mineralization of the company’s more advanced, high-grade Nova Canaa project, Equitas added. Mapping and sampling would be necessary to further assess the project.
Earlier this month the company announced results from two infill holes at Cajueiro’s Crente zone, with near-surface intervals of 1.12 g/t gold over 31 metres and 1.03 g/t over 29 metres (not true widths).
The news followed 33 near-surface intercepts released in August and high-grade trenching results announced the previous month, all from Cajueiro’s Baldo zone. Equitas intends to put the former alluvial operation into production incrementally, beginning with the installation of a carbon-in-leach plant to process near-surface saprolite oxides from Baldo and Crente.
The Santa Helena and Colider Leste acquisitions bring the company’s Brazilian portfolio to more than 202,000 hectares.