Saturday 3rd December 2016

Resource Clips


Posts tagged ‘brazil’

Equitas Resources highlights third Brazilian project with 92.19 g/t gold over 2 metres

November 29th, 2016

by Greg Klein | November 29, 2016

Another high-grade assay brings another project to prominence among Equitas Resources’ (TSXV:EQT) 12-property Brazilian holdings. Announced November 29, a channel sample on the Nova Canaa property revealed 92.19 grams per tonne gold over two metres. The news comes two weeks after the company released grab samples as high as 1,022.98 g/t gold at the Crepori project.

Equitas Resources highlights third Brazilian project

Garimpeiro production at the 9,694-hectare Nova Canaa property in the Juruena gold belt extracted an estimated 225,000 ounces from 1975 to 1992. The channel sample comes from approximately 20 metres’ depth in an adit at the Galopeira zone, where the Bodao vein has so far been traced for about 200 metres, averaging one to two metres in width. Previous drilling at Galopeira sunk 18 holes for 2,993 metres, with three intervals showing gold results of 7.2 g/t over 2 metres, 14.2 g/t over 2.9 metres and 17.2 g/t over 1.5 metres.

At the property’s Medeiro zone, 20 out of 95 grab samples previously collected within a one-kilometre radius assayed between 1.38 g/t and 69.5 g/t gold.

Plans for Nova Canaa include mapping and sampling, induced polarization and magnetics prior to drilling.

The announcement brings to light a third priority in Equitas’ 202,000-hectare Brazilian portfolio. Along with Crepori, the company holds the Cajueiro project, where an April resource update recalculated 2013 data for four zones of sulphides and saprolite oxides. Using a 0.25 g/t cutoff, the project’s sulphides total:

  • indicated: 8.64 million tonnes averaging 0.771 g/t for 214,100 ounces gold

  • inferred: 9.53 million tonnes averaging 0.664 g/t for 203,500 ounces

Using the same cutoff, four zones of oxides come to:

  • inferred: 1.37 million tonnes averaging 1.775 g/t for 78,400 ounces

Equitas intends to return the 39,053-hectare Cajueiro flagship to production, beginning with a 600-tonne-per-day carbon-in-leach plant, then building the operation incrementally. A resource update and PEA are planned by mid-2017, following last summer’s 37-hole, 1,756-metre program at the project’s Baldo zone, which showed 33 near-surface mineralized intercepts. Additionally, two infill holes at the Crente zone brought near-surface gold results of 1.12 g/t over 31 metres and 1.03 g/t over 29 metres.

The company foresees a 12- to 24-month timeline to production. A trial mining licence has been granted, while environmental permits are pending.

Earlier this month Equitas offered a private placement of up to $500,000.

Infographic: Countries of origin for raw materials

November 16th, 2016

Graphic by BullionVault | text by Jeff Desjardins | posted with permission of Visual Capitalist | November 16, 2016

Every “thing” comes from somewhere.

Whether we are talking about an iPhone or a battery, even the most complex technological device is made up of raw materials that originate in a mine, farm, well or forest somewhere in the world.

This infographic from BullionVault shows the top three producing countries of various commodities such as oil, gold, coffee and iron.

Infographic Countries of origin for raw materials

 

The many and the few

The origins of the world’s most important raw materials are interesting to examine because the production of certain commodities is much more concentrated than others.

Oil, for example, is extracted by many countries throughout the world because it forms in fairly universal circumstances. Oil is also a giant market and a strategic resource, so some countries are even willing to produce it at a loss. The largest three crude oil-producing countries are the United States, Saudi Arabia and Russia—but that only makes up 38% of the total market.

Contrast this with the market for some base metals such as iron or lead and the difference is clear. China consumes mind-boggling amounts of raw materials to feed its factories, so it tries to get them domestically. That’s why China alone produces 45% of the world’s iron and 52% of all lead. Nearby Australia also finds a way to take advantage of this: It is the second-largest producer for each of those commodities and ships much of its output to Chinese trading partners. A total of two-thirds of the world’s iron and lead comes from these two countries, making production extremely concentrated.

But even that pales in comparison with the market for platinum, which is so heavily concentrated that only a few countries are significant producers. South Africa extracts 71% of all platinum, while Russia and Zimbabwe combine for another 19% of global production. That means only one in every 10 ounces of platinum comes from a country other than those three sources.

Graphic by BullionVault | posted with permission of Visual Capitalist.

Equitas Resources samples 1,022 g/t gold at undrilled Brazilian project

November 15th, 2016

by Greg Klein | November 15, 2016

A “spectacular” gold assay among other high-grade grab samples gives the Crepori project greater prominence in Equitas Resources’ (TSXV:EQT) 202,000-hectare Brazilian portfolio. Five out of 10 initial surface samples surpassed eight grams per tonne, reaching as high as 39.26 g/t and 1,022.98 g/t gold. The 8,323-hectare property in the prolific Tapajos Gold Belt remains to be drilled.

Equitas Resources samples 1,022 g/t gold at undrilled Brazilian project

Previous garimpeiro mining focused on two gold-bearing quartz vein systems, Picarreira and Boiadeiro, Equitas reported. Picarreira has been traced over 400 metres of strike on surface, averaging six metres in width. Soil and chip samples suggest the strike could increase significantly to the northeast, the company added. The 39.26 g/t sample came from Picarreira, while Boiadeiro revealed the 1,022.98 g/t sample.

“It is remarkable that Crepori has remained essentially untested particularly given the outstanding gold grades achieved and significant extent of the known mineralized vein system defined to date,” said VP of exploration Everett Makela.

The company now plans mapping and sampling, followed by induced polarization and magnetics prior to drilling.

Last month Equitas announced near-surface results for two infill holes on its Cajueiro project in central Brazil, with assays of 1.12 g/t gold over 31 metres and 1.03 g/t over 29 metres (not true widths). The results followed a successful 37-hole, 1,756-metre summer program that found 33 mineralized near-surface intervals.

An April resource update recalculated 2013 data for Cajueiro’s four zones of sulphides and saprolite oxides. Using a 0.25 g/t cutoff, the project’s sulphides total:

  • indicated: 8.64 million tonnes averaging 0.771 g/t for 214,100 ounces gold

  • inferred: 9.53 million tonnes averaging 0.664 g/t for 203,500 ounces

Using the same cutoff, four zones of oxides total:

  • inferred: 1.37 million tonnes averaging 1.775 g/t for 78,400 ounces

Also last month the company acquired two properties totalling 18,000 hectares in the Juruena Gold Belt, roughly 180 kilometres southeast of Cajueiro.

Equitas Resources expands its presence in Brazil’s Juruena Gold Belt

October 26th, 2016

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.

Equitas Resources expands its presence in Brazil’s Juruena Gold Belt

Photos of Santa Helena’s Gabriel pit
show mineralized saprolite at surface.

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.

Equitas Resources releases assays, plans development of Brazil gold project

October 13th, 2016

by Greg Klein | October 13, 2016

Good gold grades over wide, near-surface intercepts instil further confidence in Equitas Resources’ (TSXV:EQT) Cajueiro project in central Brazil. Reported October 13, two infill holes on the Crente zone “lend further support for the potential of Crente to represent a significant portion” of the property’s open pit component, stated VP of exploration Everett Makela.

The drilling targetted a former garimpeiro pit to follow up on an historic hole that found 2.37 g/t gold over 31 metres, including 4.15 g/t over 9.4 metres. The new assays show:

Hole CJO 094

  • 1.12 g/t gold over 31 metres, starting at 90 metres in downhole depth
  • (including 2.2 g/t over 4 metres)
Equitas Resources releases assays, plans development of Brazil gold project

A close-up shows 8.2 g/t gold over one metre.

Hole CJO 095

  • 1.03 g/t over 29 metres, starting at 20 metres
  • (including 3.14 g/t over 4 metres)
  • (which includes 8.2 g/t over 1 metre)

True widths weren’t available.

The results follow a summer program of 37 holes totalling 1,756 metres at the Baldo zone that produced 33 near-surface mineralized intervals. Equitas plans to incorporate this year’s drilling into an updated resource estimate. The project’s current resource uses a 0.25 g/t cutoff, with four zones of sulphides totalling:

  • indicated: 8.64 million tonnes averaging 0.771 g/t for 214,100 ounces gold

  • inferred: 9.53 million tonnes averaging 0.664 g/t for 203,500 ounces

Four zones of oxides total:

  • inferred: 1.37 million tonnes averaging 1.775 g/t for 78,400 ounces

While focusing on the more metallurgically amenable oxides, Equitas plans to transform the former alluvial operation by installing a carbon-in-leach plant. Under the direction of newly appointed Brazil general manager Sergio Aquino, the company has design and costing underway for a 600-tpd plant that would process material from an upcoming bulk sampling program.

During his 35-year career Aquino headed diamond exploration for Rio Tinto do Brasil, led exploration and field operations of alluvial gold deposits, co-founded Serabi Mining PLC and served on a municipal environmental council.

Last summer a 1,324-hectare area of Cajueiro underwent a high-resolution topographic survey via an unmanned aerial vehicle. Results will help guide further surveys.

Equitas also announced termination of a private equity financing that would have included US$5 million in revolving loans and a US$1-million warrant exercise.

Cajueiro forms part of a 184,410-hectare Brazilian portfolio that came with Equitas’ acquisition of Alta Floresta Gold last spring.

Read more about Equitas Resources’ Cajueiro project.

Equitas Resources communications manager Sean Kingsley discusses drilling, metallurgy and near-term production potential at the Cajueiro gold project in Brazil

September 16th, 2016

…Read more

Equitas Resources drills more near-surface gold while advancing Brazilian project

August 29th, 2016

by Greg Klein | August 29, 2016

New gold assays bolster Equitas Resources’ (TSXV:EQT) plan to incrementally expand its Cajueiro project in central Brazil. On August 29 the company reported 33 near-surface intervals from saprolite and bedrock on the project’s Baldo zone, ranging from 0.95 grams per tonne to 4.07 g/t gold.

Equitas Resources drills more near-surface gold while advancing Brazilian project

Drilling helped identify three new target areas at Cajueiro.

The results will also help the company gain a full mining licence, part of a plan to expand recovery from what had been a small alluvial operation by installing a carbon-in-leach plant. Additionally, three other near-surface areas have been identified for further trenching and drilling, including Zona Dois with 300 metres of strike.

Highlights from 37 holes totalling 1,756 metres show:

Hole CJO-0077

  • 1.46 g/t gold over 13.5 metres, starting at 14.2 metres in downhole depth

CJO-0064

  • 1.21 g/t over 10 metres, starting at 10 metres

CJO-0063

  • 1.19 g/t over 8.2 metres, starting at 1 metre

CJO-0090

  • 3.67 g/t over 2.5 metres, starting at 9 metres

CJO-0089

  • 1.95 g/t over 4.5 metres, starting at 10.5 metres

CJO-0080

  • 1.13 g/t over 7 metres, starting at 48 metres

CJO-0057

  • 1.19 g/t over 5.8 metres, starting at 6.2 metres

CJO-0058

  • 2 g/t over 3 metres, starting at 27 metres

True widths weren’t available. The mineralized intervals have also been sent for screen fire assay to test for coarse gold, Equitas stated.

Two additional holes were drilled at Cajueiro’s highly prospective Crente zone. Sunk below a former garimpeiro pit, they tested a new interpretation suggesting a steeply dipping mineralized trend intersected by an historic result of 2.37 g/t over 31 metres. Equitas expects those results by mid-September.

The latest assays follow trenching results announced in July that featured 24.26 g/t over two metres, 18.86 g/t over two metres and 1.4 g/t over 12 metres. Further trenching and drilling will feed a resource update for the 39,053-hectare project. Using a 0.25 g/t cutoff, four zones of sulphides currently total:

  • indicated: 8.64 million tonnes averaging 0.771 g/t for 214,100 ounces gold

  • inferred: 9.53 million tonnes averaging 0.664 g/t for 203,500 ounces

Four zones of oxides total:

  • inferred: 1.37 million tonnes averaging 1.775 g/t for 78,400 ounces

Near-surface oxides remain the company’s focus.

Plans to expand Cajueiro incrementally originally called for installation of a gravity plant, to be followed by a CIL plant. But metallurgical results announced earlier this month convinced the company to skip the first stage and go straight to CIL processing.

In late July the company closed an over-subscribed private placement of $861,000. Equitas has also been working towards completion of a US$6-million private equity financing that would include US$5 million in revolving loans and a US$1-million warrant exercise.

Read more about Equitas Resources’ Cajueiro gold project.

Straight to Phase II

August 18th, 2016

Metallurgy moves Equitas Resources closer than expected to Brazilian gold expansion

by Greg Klein

It’s a case of disappointing results being trumped by findings much more positive. Equitas Resources TSXV:EQT planned to add a gravity plant to its Cajueiro gold project in central Brazil, hoping to increase the modest operation’s recovery. Another stage in the project’s incremental development was to follow—a carbon-in-leach plant for further improvement. But, the company announced August 18, metallurgical tests gave gravity a failing grade. Those studies did, however, find conventional CIL results even better than anticipated. That now puts Cajueiro on the fast track as Equitas skips Phase I, advancing straight to CIL.

Equitas gained the 39,053-hectare property with last spring’s acquisition of Alta Floresta Gold and its 184,410-hectare Brazilian portfolio. Impressed by both the assets and Alta Floresta’s Brazil-based team, Equitas planned a step-by-step process of improving and expanding the flagship operation.

Metallurgy moves Equitas Resources closer than expected to Brazilian gold expansion

Metallurgical progress follows last spring’s drilling,
which focused on two zones of near-surface mineralization.

Currently limited to potential alluvial production of about a kilogram of gold per month, Cajueiro had languished at about 30% to 35% recovery through a sluice box. The company hoped to increase that to about 50% by adding a gravity plant, prior to a Phase II CIL plant and its hoped-for 85%. Metallurgical studies disappointed gravity expectations with a maximum of 22.1%. But surpassing expectations was conventional CIL, with a range of 93.7% to 96.2%.

Work was conducted by Testwork Desenvolvimento de Processo, whose technical director Walter de Moura boasts 30 years’ experience with AngloGold Ashanti NYSE:AU. Bench-scale tests on a 118-kilogram composite saprolite sample point to high recovery with limited grinding, rapid leach times and low reagent consumption, “a direct cyanidation approach to gold recovery,” Equitas stated.

That pushes Cajueiro directly to Phase II. Earlier this week Equitas pronounced itself “very close” to closing an amended $6-million financing. With all figures in U.S. currency, the deal with private equity firm Cartesian Royalty Holdings would bring $5 million in revolving loans and a $1-million warrant exercise.

Equitas would borrow instalments of the $5 million, repaying each $1-million drawdown with 2,100 gold ounces within a year or 2,300 ounces up to three years. Repayments made within one year could be re-drawn, giving the company a revolving loan capacity of $5 million.

Late last month Equitas closed an over-subscribed private placement totalling C$861,000.

Testwork now has analysis and design underway for a CIL test plant with a capacity of 250 to 400 tonnes per day. Permit applications have been filed to mine 50,000 tonnes per year from each of Cajueiro’s Baldo and Crente zones. The CIL plant would be located about halfway between the two zones, which sit less than two kilometres apart.

With construction expected to begin in Q4, the plant should take six months to build, communications manager Sean Kingsley tells ResourceClips.com. “During that time we expect further exploration and drilling.”

Baldo was the focus of last spring’s campaign of 20 holes for 1,600 metres, along with 700 metres of trenching. Most of the drilling consisted of infill holes targeting mineralized saprolite oxide, highly weathered near-surface material potentially amenable to open pit extraction.

“We expect to have those results very soon,” says Kingsley. “We also drilled the Crente zone, which shows a lot of upside. We drilled below a very shallow former garimpeiro pit and we’re looking forward to those results too.”

Highlights from initial assays reported last month included 24.26 grams per tonne gold over two metres, 18.86 g/t over another two metres and 1.4 g/t over 12 metres (not true widths).

There are other zones on Cajueiro that we haven’t talked about, that have even more prospectivity.—Sean Kingsley, communications manager for Equitas Resources

“There are other zones on Cajueiro that we haven’t talked about, that have even more prospectivity,” maintains Kingsley. “To get our full mining licence we had to do a lot of work on one-fifth of the Baldo zone, a pre-worked area which isn’t the most prospective area.”

A 43-101 report filed in April recalculated 2013 data for four zones of sulphides and of saprolite oxides. Using a 0.25 g/t cutoff, the project’s sulphides now total:

  • indicated: 8.64 million tonnes averaging 0.771 g/t for 214,100 ounces gold

  • inferred: 9.53 million tonnes averaging 0.664 g/t for 203,500 ounces

Using the same cutoff, four zones of oxides total:

  • inferred: 1.37 million tonnes averaging 1.775 g/t for 78,400 ounces

Baldo’s share of the saprolite oxides comes to:

  • inferred: 309,000 tonnes averaging 3.029 g/t for 30,100 ounces

It’s Cajueiro’s near-surface, higher-grade, more metallurgically attractive oxides that remain the focus of exploration and potential extraction.

Kingsley points to a highly experienced team that includes director Kyler Hardy, president/CEO Chris Harris, director David Hodge and VP of exploration Everett Makela, along with long-time Brazil veterans director Alan Carter, director/adviser Michael Bennett, adviser Jon Coates, mining manager Richard Crew and project manager Elvis Alves. “Individually, they’re all people with impressive accomplishments,” says Kingsley. “Collectively, they’re one hell of a team.”

He emphasizes that the project will make Equitas “a growth story. Now’s the time to boost Cajueiro’s production, get cash flow and grow from there.”

Emerita Resources’ Spanish gold exploration follows up on high-grade samples

July 21st, 2016

by Greg Klein | July 21, 2016

Mining on the property dates back at least as far as the Romans but there’s evidence of still more gold to come. With that in mind, Emerita Resources TSXV:EMO has begun exploring its Sierra Alta project in the Asturias region of northwestern Spain. The program calls for detailed mapping, bedrock sampling and trenching to determine drill targets on the 2,500-hectare property, the company announced July 21.

Emerita Resources’ Spanish gold exploration follows up on high-grade samples

Emerita Resources brings modern exploration to ancient workings.

Work will initially focus on an area about three kilometres long by 300 metres wide that contains a high density of Roman excavations distributed along a structure that seems to control the mineralization’s distribution, Emerita stated. Historic, non-43-101 data from the 1990s reported bedrock samples as high as 338 grams per tonne and 48.96 g/t gold in an area where soil samples showed strong gold anomalies.

Very limited follow-up work has been done. But later sampling during Emerita’s initial property assessment found grades up to 10.65 g/t.

Another area of gold geochemical anomalies to the south measures about 1.5 kilometres by 200 metres. Part of the Navelgas Gold Belt, Sierra Alta features a geological environment comparable to the El Valle-Boinas and Carles gold mines operating 35 kilometres east. “Gold mineralization in the area typically occurs in high-grade epithermal veins, skarns and as intrusive-related gold deposits,” the company added.

“The combination of modern geochemical anomalies and extensive Roman mining excavations, the largest of which is hundreds of metres in length, combined with high-grade samples in bedrock, make this a very compelling and highly prospective target,” commented CEO Joaquin Merino. “We expect to have initial assay results from the exploration program by mid-August.”

Last month Emerita announced a 100% option on the Falcon Litio MG property in Brazil, 500 metres from the country’s only operating lithium mine. In May the company announced a letter agreement with the Aldesa Group, an international builder of specialized infrastructure, to create a JV to acquire and explore mineral projects.

Emerita closed an oversubscribed private placement of $954,000 in May.

Equitas Resources assays 24.26 g/t and 18.86 g/t gold, each over two metres

July 6th, 2016

by Greg Klein | July 6, 2016

With intervals showing high-grade, near-surface gold, Equitas Resources TSXV:EQT released trenching results from its Cajueiro project in central Brazil on July 6. Highlights included two metres of 24.26 grams per tonne and another two metres of 18.86 g/t, as well as a 12-metre intercept of 1.4 g/t.

Results come from the project’s Baldo zone, an alluvial operation since June 2015 that produces about a kilogram of gold a month. Having acquired the project in April as part of a 184,410-hectare land package, Equitas hopes to increase production incrementally by improving recovery, now only about 30% to 35%, and expanding the resource.

Equitas Resources assays 24.26 g/t and 18.86 g/t gold, each over two metres

With drill assays still to come, trenching results encouraged
Equitas Resources to follow up on the Baldo zone’s high-grade intervals.

This campaign consisted of nine trenches totalling 1,680 metres and 31 diamond drill holes totalling 1,585 metres. Some 733 assays have been received so far out of a total of 757 trench samples. Still to come are the drill core assays.

Results change the interpretation of prospective altered and mineralized structures, Equitas stated. The high-grade intercepts “appear to represent a corresponding increase in structural complexity that adds an exciting new element to the Baldo environment,” said VP of exploration Everett Makela. “I would also emphasize that a majority of the assay results have yet to be received, so there is considerable new information still to come from this exploration program.”

Trenching focused on Baldo’s near-surface saprolite, described as “the oxidized equivalent of hydrothermally altered bedrock structures hosting gold mineralization with associated pyrite and quartz veining.” Eight standout results show:

Trench TCBL-0001

  • 1.16 g/t gold over 2 metres, starting at 47 metres
  • 1.4 g/t over 12 metres, starting at 60 metres

TCBL-0003

  • 1.26 g/t over 5 metres, starting at 23 metres
  • 2.12 g/t over 4 metres, starting at 167 metres
  • 24.26 g/t over 2 metres, starting at 197 metres

TCBL-0004

  • 5.54 g/t over 2 metres, starting at 146 metres
  • 18.86 g/t over 2 metres, starting at 173 metres

TCBL-0006

  • 1.57 g/t over 7 metres, starting at 31 metres

Equitas now has further diamond drilling, auger drilling and trench sampling targeting the high-grade areas and anticipates an updated structural interpretation prior to a campaign of resource definition. The company has also sent a 100-kilogram composite sample of saprolite for bench-scale metallurgical tests. Meanwhile, previous mapping and sampling have revealed three additional targets similar to the current focus area.

Last month Equitas announced private equity financing of up to US$6 million, through $5 million in revolving loans and a $1-million private placement. The company closed a $1.5-million private placement in April.

Equitas appointed a new advisory board in early May.

Read more about Equitas Resources.