2014

Brazil Resources Inc. Identifies Large Copper-Gold Mineralized Zone at Artulândia Project in Goias State, Central Brazil

VANCOUVER, Sept. 6, 2012 /PRNewswire/ - Brazil Resources Inc. (the "Company" or "Brazil Resources") (TSX-V: BRI) (OTCQX: BRIZF) is pleased to announce that recent rock sampling, geophysical and soil geochemical surveys at its Artulândia project have identified an anomalous copper gold zone of approximately 1,000m by 250m, which is open in all directions.  The Artulândia project covers 12,000 acres within the Company´s 247,000 acre Pireneus district and is located in Goias state, one of the most prolific mining districts in Brazil.

Stephen Swatton, President and CEO, stated, "Our geological team believes Artulândia has the potential to be a significant discovery, made with a modest budget in an area that has not had previous mining or exploration activity. Based on preliminary exploration data, similarities are being drawn with Yamana's Chapada Copper-Gold Mine to the north. However, we acknowledge that the Artulândia project is in the early stages of exploration and, therefore, more work, including drilling, needs to be done to fully realize and understand this project."

Highlights from the new results obtained at Artulândia include:

  • Target ART-1; Further follow-up work completed on target area ART-1 has confirmed new mineralized outcrops, with increased copper values of up to 0.81%, gold values of up to 2.3 g/t and silver values of up to 344 g/t, plus additional anomalies of lead-zinc. A geophysical survey has identified a main IP anomaly trending along strike for approximately 400m, which coincides with the geochemically defined gold-copper zone identified by previous soil and rock chip sampling. ART-1 is considered a priority, and the next phase of exploration is expected to include diamond drilling of this target.  Geochemical sampling indicates that the mineralization extends for an additional 600m to the east of the main IP anomaly (Targets ART-2 and ART-3).
  • Target ART-5; A new zone located approximately 750m NE of ART-1 has been discovered comprising gossans trending along strike for approximately 700m. These gossans are similar to those found at target area ART-1.  A total of 50 rock geochemical samples have been collected from target area ART-5 and sent to the laboratory to confirm the presence of mineralization.

In its news release dated April 26, 2012, Brazil Resources announced the first results of a geochemical sampling program at Artulândia and identified eight target areas (ART-1 to ART-8) with elevated copper, gold, lead and zinc values surrounding a large intrusive granitoid with rock grab sample results of up to 1.2 g/t gold, 0.7% copper and greater than 2% lead-zinc in separate samples.

Since May 2012, follow-up geochemical sampling and detailed geological mapping programs have been completed on target areas ART-1 and ART- 5.  In addition a geophysical IP/Mag ground survey has been completed and a trenching program has been initiated at ART-1. To date, assay results are available for a total of 603 rock grab samples, 1,581 soil samples and 62 stream sediment collected from target areas ART-1 and ART-5.

Based on petrographic and detailed geochemical and geophysical data interpretation, Company geologists believe the geology at Artulândia may be a porphyry copper deposit. Therefore comparisons are being drawn with the Chapada Mine operated by Yamana Gold, which is located approximately 140 km north of the Artulândia project. Chapada produced 135,000 oz of gold and 166 million pounds of copper in 2011 as publicly disclosed by Yamana. Readers should be aware that the comparison to Chapada contained herein is based on preliminary exploration by the Company to date and substantial additional exploration is required to define the extension, continuity and geology of the mineralized zones at Artulândia, which does not currently have any defined resources, and, therefore, the results at Chapada are not necessarily indicative of the potential of the Artulândia project.

The geophysical survey was performed by Fugro Geophysics, and processed by Reconsult Geofísica. The IP-resistivity survey comprised 7.65 line kms, and the magnetics survey comprised 23.35 line kms. The grid lines were oriented north-south and each line was 100 meters apart.

Future Work:
The Company plans to further its exploration efforts on all the remaining targets. A diamond drill program to investigate Target 1, and possibly Targets 2 and 3, is currently under consideration. Targets ART-4, ART-5 and ART-6 have been outlined by the recent geophysical survey and will be investigated by additional rock sampling and mapping. The current geochemical/geophysical results only represent the investigation of two targets (ART-1 and ART-5) of the eight geochemical targets initially identified by the Company.

FIGURES 1 and 2 - Geophysical  (IP-Magnetic) Targets ART-1 to ART-6  plotted over Mag Analytical Signal Grid Image (left) and IP anomalies trends over Cu in rock/soil geochemical anomaly (right).

Click here to view Figure 1
Click here to view Figure 2

Target 1 is defined by a 400m long high IP trend, the inversion sections show that this trend could be dipping from west to east, going from a superficial response to a deeper signature. This possibility, if proven correct, could add another 600m to this target, effectively extending Target 1 to the eastern boundary of Target 2 (Figure 2).

Figure 3 - Detailed Geological Map with soil anomalies, selected rock sample results and location of geophysical Targets 1, 2 and 3

Click here to view Figure 3

TABLE 1 - Anomalous Rock Samples Results for Cu-Au-Zn-Pb-Ag at Artulândia Project as of August 31, 2012

Sample Lithology Cu (ppm) Au
(ppb)
Zn (ppm) Pb
(ppm)
Ag (ppm)
11904 Gossan 8123 513 2512 8047 5
11161 Volcanic 7116 79 781 42000 147
11907 Gossan 6991 2329 6551 >10000 344
11145 Gossan 6813 129 2152 1907 -1
11144 Gossan 6628 335 2538 1375 18
11141 Gossan 6350 1250 4075 747 13
11848 Gossan 4897 128 1212 1248 15
11834 Gossan 4182 84 697 695 8
11847 Gossan 4126 210 894 1737 198
11829 Gossan 3872 1646 1372 1620 19
11905 Gossan 3728 792 3453 5885 12
11444 Laterite 3623 97 1482 1619 9
11919 Gossan 3458 247 1965 1011 13
11906 Gossan 3421 364 3093 5003 10
11469 Volcanic 3329 31 35300 3900 16
11897 Breccia 3315 768 1194 2287 10
11835 Gossan 3275 36 668 630 -1
3001 Quartz Vein 2946 154 1652 802 -1
11928 Gossan 2914 116 1836 1072 -1
11895 Breccia 2892 219 1239 3219 1
11925 Gossan 2828 198 2751 1018 -1
11828 Gossan 2762 46 828 802 -1
11927 Gossan 2636 170 3547 5321 -1
11933 Gossan 2630 199 1979 967 16
11931 Gossan 2591 176 2324 502 4
11924 Gossan 2460 99 2529 1346 -1
11912 Gossan 2373 262 1843 1367 1
11930 Gossan 2340 295 2059 470 8
11900 Breccia 2332 495 522 1729 6
11923 Gossan 2297 148 1392 1182 -1
11898 Breccia 2274 406 892 1761 5
11914 Gossan 2272 1149 2092 854 -1
11899 Breccia 2261 556 713 1544 4
11929 Gossan 2257 61 1430 1311 -1
11932 Gossan 2152 76 1828 534 5
11911 Gossan 2146 186 1336 805 -1
11910 Gossan 2142 148 1160 829 -1
1191 Laterite 2075 1168 1078 1547 -1
11467 Quartzite 1908 71 1213 4302 6
11934 Gossan 1884 32 2326 411 123
11120 Quartzite 1874 61 4203 553 7
11922 Gossan 1868 109 857 1390 -1
11926 Gossan 1847 122 1895 874 19
11121 Volcanic 1787 138 856 5456 11
11921 Gossan 1774 81 1659 1369 -1
11844 Gossan 1711 32 693 919 -1
11167 Volcanic 1620 49 1233 688 -1
11896 Breccia 1604 316 549 1670 4
11833 Gossan 1568 41 1172 483 -1

About Brazil Resources Inc.

Brazil Resources is a publicly listed mineral exploration company with a focus on the acquisition and development of projects in emerging producing gold districts in Brazil and other parts of South America. Currently, the Company is advancing its Montes Áureos, Trinta and Maua Gold Projects located in the Gurupi Gold Belt in the state of Maranhão in northeastern Brazil, and its Pireneus Gold Project in Goias State, in central Brazil. Brazil Resources is also seeking to acquire and develop additional gold properties within Brazil and other locations in South America.

Note Regarding Scientific and Technical Information

Paulo Pereira, the Company's Vice President of Exploration has supervised the preparation of and reviewed the technical information and verified the data contained in this document. Mr. Pereira holds a Bachelor degree in Geology from Universidade do Amazonas in Brazil, is a qualified person as defined in National Instrument 43-101 and is a member of the Association of Professional Geoscientists of Ontario.

The reconnaissance sampling at the Artulândia project was performed using stream sediment sampling to cover the entire area of the claim block. Streams sediment samples were collected using 10 liters constant volume samples and the collected material was panned in the field for gold color counts. Follow-up sampling was completed on anomalous areas defined by the results of the stream sediment sampling. Soil samples were collected on regular grids (200m x 50m) at 0.30 m depth. The material excavated in each soil sampling location was homogenized and a 2 kg representative sample was collected.  Rock samples (hand-specimen size) were collected during geological mapping over the entire area and on target area ART-1 rock samples were collected over regular grid (100m x 25m) and on representative mineralized outcrops.

Brazil Resources operates QA/QC controls of sampling and analytical procedures.  For geochemical sampling (stream sediment, soil, rock) duplicates are inserted in the sample batches at a reason of one duplicate for every ten samples.  Samples from the Artulândia project are transported by the company staff from the project by road to SGS-Geosol Labs in Goiania, Goias for preparation and pulps are sent to SGS-Geosol Labs in Vespasiano, Minas Gerais, Brazil in secured and sealed sample bags for analysis. Samples are assayed by the lab for gold using a 50 gram fire assay with AAS finish and ICP for 37 elements.

Forward Looking Statements

This document contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events, including statements regarding the Company's beliefs regarding future exploration of the Artulândia project and exploration plans in respect of its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company's current exploration programs and objectives can be achieved; financing will be available if and when needed on reasonable terms; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all.  Investors are cautioned that all forward-looking statements involve risks and uncertainties, including:  that the Company has a limited operating history; that resource exploration and development is a speculative business; that the Company may lose or abandon its property interests; that the Company's properties are in the exploration stage and without known bodies of commercial ore; that the Company may not be able to obtain all necessary permits and approvals on any of its properties; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; potential inability to find suitable acquisition opportunities and/or complete the same and  other factors listed in the Company's public filings, including its Management's Discussion and Analysis for the year ended November 30, 2011. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

 

Patrick Obara
Telephone: (855) 630-1001
info@brazilresources.com

SOURCE Brazil Resources Inc.



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