The Pires Gold Project consists of 5 mineral licenses covering more than 21,000 acres located 2.5 hours drive from Brasilia and about 1 hour outside of the small city of Pires do Rio, Goiás State. The property is rectangular in shape and is approximately 8 miles long and 1.5 miles wide.
As well, the property is proximal to highways, hydroelectric, water and major towns. Pires is 55 miles due west of Kinross Gold Corp.'s "Paracatu Mine", the largest goldmine in South America.
The Pires property is located on the savannah (cerrado) with scattered farms with soy crops and/or cattle grazing. The Company has secured permission to explore and drill for gold on the licenses.
The Pires Property covers sericite schist, chlorite schist and quartzites that have been intensely weathered under oxidizing tropical conditions. Metamorphic foliation of the schists and quartzites dips mainly to the west, and appears to be tightly folded. These metamorphic rocks belong to the Brasilia Belt, a region where terrains from the west have been thrust eastward over the ancient (Archean) Sao Francisco craton. (The Paracatu Mine is also situated in this craton).
The Pires Property hosts gold-rich rock samples occurring as float and quartz veins in schists. The high-grade float samples occur in a well-defined linear north-northeast trend extending more than 8 miles (13 km) at the surface. The property has never been drilled and presents a possible drill-ready opportunity for discovery.
Pires Samples (NO 43-101 Compliant Report has been completed on the Pires Property)
A Company geologist visited the property and took 34 "dfloat and "outcrop" samples from the property. Of the 12 samples tested by Acme Laboratories, most were float rocks comprising quartz with minor sulphides; in several cases the sampled quartz veins were in-place. Two of the 12 samples yielded in excess of 2/3 oz./t gold from fire assay (see attached ACME data certificate), as well, 4 of the samples yielded>1/3oz/t, and overall 10 out of the 12 samples yielded more than 1.0 gram/tonne1 gold. (Anomalous)
The sample results (22 samples) analyzed at SGS Geosol (Brazil) returned similar and higher gold values; sample HOC-09-P003W returned 1.75 oz/t (54.7 grams/t) and 6 of the 22 samples assayed returned > 1/3oz/t. and 8 of 22 samples returned trace values of gold.
There are distinct occurrences of gold in three areas of the Pires project with high gold values in the north ("Garimpo") and the southernmost portions of the property.
