Panoramic View on the Prospects & Investments in the Tapajós-Xingu Provinces. Elton L.S. Pereira 22/May/2012

Transcription

1 Panoramic View on the Prospects & Investments in the Tapajós-Xingu Provinces Elton L.S. Pereira 22/May/2012

2 Tapajós Setting & Facts +30 MOz Au (since 1958) +350 garimpos 135,000 Km 2 Larger than French Guyana None significant mine yet Incipient geological knowledge Vast under-explored area Improving infrastructure

3 During 1960 s: Access by rivers. During 1970 s and 1980 s: Airstrips for small aircrafts. From 1980 s: Infrastructure Evolution Transamazonian, Cuiabá-Santarém & Transgarimpeira roads. From 1990 s: Capillary roads for logging purposes. Tucuruí power line to Itaituba. From 2000 s: Power line from Novo Progresso thermo plant to the Palito mine. PCH s at Curuá river (55 MW). Novo Progresso substation connected to the national power grid. Cuiabá-Santarém road being paved. From 2013: Power line (138 KVA) and road access to Tocantinzinho. Hydropower plants at Crepori, Jamanxim & Tapajós rivers.

4 1950 s

5

6

7 1980 s

8 1980 s

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10 Energy Suply

11 Energy Suply

12 Infrastructure Improvements Power Line at BR-163 Power Line at BR-163 Portion already paved of BR-163 Portion already paved of BR-163

13 Environmental Areas (2006)

14 Tapajós Exploration Evolution Gold first discovered in 1958 at das Tropas River mouth Main gold rush during the 1980 s First round of modern exploration from 1992 to 1998 Rio Tinto, TVX, Barrick, Homestake, Placer Dome São Jorge, Palito, Ouro Roxo, Castelo de Sonhos Second round of modern exploration from 2003 to present Brazauro, Serabi, Magellan, Brazmin, Aurora, Solitario, Amerix, Brazilian Gold, Chapleau, TriStar Gold, Dourave Tocantinzinho, Cuiu-Cuiu, Coringa, Palito, São Jorge, Ouro Roxo, Castelo de Sonhos, Boa Vista.

15 First Exploration Round, Major Companies

16 Results of the First Exploration Round São Jorge (Rio Tinto), diamond drill holes (4,350 m). Inferred resources of g/t Au (Non ). Palito (Rio Tinto), diamond drill holes (~ 1,000 m). Hole 2: g/t Au. Ouro Roxo (Rio Tinto), Diamond drill holes (+ 4,000 m). Inferred resources of g/t Au (Non ). V3 (Rio Tinto), diamond drill holes (1,351 m). Inferred resources of g/t Au (Non ). V6 (Rio Tinto), Diamond holes (600 m). Outcrop chip sample with 0.99% Cu. Mo up to 242 ppm. Hole 2: % Cu, % Cu, ppm Mo. Castelo de Sonhos (Barrick), Diamond drill holes (2,023 m). Best drilling intercept: g/t Au.

17 Second Exploration Round, Junior Companies

18 Tocantinzinho (Brazauro/Eldorado) Workings from 2004 to 2012 Gold hosted in Granites with sil-chl-hem-sulf alteration in a stockwork pattern. Deposit is 700 m long, m wide, 350 m depth (N40W, vertical). 167 diamond holes (46,900 m). Total resources of g/t (2.54 MOz Au). Cut off 0.3 g/t Au. P&P reserves of g/t (1.98 MOz Au). Cut off 0.5 g/t Au. Capex: US$ 383 M, Cash cost: US$ 559/Oz, LOM: 11 years (159 KOz/year). Construction decision by the end of Production start up: Mid 2014.

19 São Jorge (Brazmin/Brazilian Gold) Workings from 2005 to 2012 Gold hosted in Anf-Bio Monzogranite with strong sil-ser-hem-sulf alteration. Deposit 700 m long, 100 m wide, 350 m depth (N70W, vertical). 121 diamond drill holes (32,756 m). Total resources (43-101) of g/t (937 KOz Au), 0.3 g/t cut off. Capex: US$ 114 M, Cash cost: US$ 624/Oz, LOM: 8 years, 53 KOz/year.

20 Cuiu-Cuiu (Magellan) Workings from 2006 to 2012 TVX, Phelps Dodge, RTZ ( ). Gold hosted in coarse grained porphyritic granites with sil-sulf-ca stockwork and aside andesite dykes. Gold occurs in more than one separate bodies. Low sulfide content (1-2%). 104 diamond holes (25,955 m). Best drilling intercepts: g/t (DH-03) g/t (DH-16) g/t (DH-32) Total resources (43-101) of g/t (1.3 MOz Au). Cut off 0.3 g/t Au.

21 Coringa (Chapleau/Magellan) Workings from 2007 to 2012 Quartz sulfide vein deposit hosted in granites, rhyolites and breccias. Veins are 0.2 to 2.6 meter wide, NW /subvertical. High grade zones contain 8% Pb and 6% Zn. Galena Block 400 m long, two ore shoots DH-34: g/t Au. Serra block 700 m long, two ore shoots. DH-01: g/t Au. 81 diamond drill holes (8,785 m). Total resources of g/t (925 KOz). Cut off 2.0 g/t Au.

22 Palito (Serabi) Production from 2003 to 2008 Quartz sulfide vein deposit hosted in granites, rhyolites, dacites and breccias. Veins are 1 meter wide (average), NW /vertical 1,050 m long up to 200 m depth. Gold grades range from 15 to 30 g/t Au. Copper as by-product. Higher Au grades directly related to high copper. Produced 480, g/t (110,097 KOz 90% recovery). Total resources of g/t (668 KOz Au equiv). Cut off 1 g/t.

23 Castelo de Sonhos (TriStar) Workings started in 2011 Gold hosted in proterozoic (2.1 Ga) conglomerates. Mineralized zones with strong silica and hematite alteration. Conglomerate package as thick as 150 meter extending for more than 15 Km. Main soil anomaly (+ 100 ppb Au) extends for more than 7.5 Km. Geology, mineralization and Au intercepts similar to Jacobina and Tarkwa. DH-14: g/t DH-16: g/t DH-24: g/t DH-31: g/t DH-32: g/t g/t

24 Other Deposits and Findings Ouro Roxo (Amerix) Shear hosted in metadiorites. Total resources of g/t Au. Água Branca (Eldorado/Unamgen) Granite hosted, stockwork. DH g/t Au. Boa Vista (Brazilian Gold) Granite/volcanic hosted. DH-01: g/t Au. DH-11: g/t Au.

25 Volta Grande (Belo Sun) Exploration Workings : VGM (18,721 m /109 diamond holes). Initial resource of 1.4 MOz : Verena (10,823 m/56 diamond holes) : Belo Sun (42,960 m/173 diamond holes). Prospect located at Três Palmeiras Greenstone Belt (Bacajá). Gold hosted in sheared diorites associated to silica alteration plus Py, Aspy. Total resources of g/t Au (4.82 MOz). Cut off 0.5 g/t Au.

26 Conclusions Infrastructure in the Tapajós is improving. Investments have raised resources from 2.5 MOz to 7.05 MOz (43-101). Drilling moved from 20,000 m to +120,000 m. New prospects (Água Branca, Boa Vista, Castelo de Sonhos) with positive potential to add more ounces in next years. Geological knowledge being overpast by exploration. Environmental restrictions to impede exploration in 50% of Tapajós area. Permit to explore/mine in the FLONAS, should (or, MUST) be an official policy of MME in the government. Positive examples are Trombetas & Carajás.