DGAP-News: Brazil Resources Inc. Announces the Acquisition of the Trinta Property in the Gurupi Gold Belt
(firmenpresse) - DGAP-News: Brazil Resources Inc. / Key word(s): Miscellaneous
Brazil Resources Inc. Announces the Acquisition of the Trinta Property
in the Gurupi Gold Belt
20.06.2011 / 15:20
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Vancouver, British Columbia - Brazil Resources Inc. (the 'Company' or
'Brazil Resources') (TSX-V: BRI) is pleased to announce the acquisition of
the 23,643-acre Trinta Project situated in the emerging Gurupi Gold Belt
located in Maranhão State, Brazil. The property consists of an exploration
license located approximately 13 km northeast of the Company's MontesÁureos Gold Project. The addition of the Trinta Project increases the
Company's total land package in the Gurupi Gold Belt to 28,585 acres.
The Trinta property has distinctive structural features that are consistent
with the regional geology of the Gurupi Gold Belt and the control of gold
mineralization within the belt. An exploration permit for the Trinta
Project is already in place and Brazil Resources plans to conduct an
initial $150,000 exploration program, which includes geological mapping and
geochemical reconnaissance sampling over the entire property and detailed
soil sampling/auger drilling over selected areas. Initial bedrock
exploration targets will be located close to historical artisanal alluvial
gold workings. This exploration program is in addition to Brazil Resources'
previously announced $1.7 million initial exploration program on its
primary Gurupi Gold Belt project, the MontesÁureos Gold Project.
President and CEO Stephen Swatton stated 'Our technical and management
teams have been diligently working together to assess prospective regions
for acquisition and exploration related activities. We are extremely
pleased to be able to announce this low-risk transaction that provides the
company with significant upside through controlling the prospective Trinta
Project, which is located 10km from Jaguar Mining's advanced-stage Gurupi
Gold Project.'
The acquisition of the Trinta Project has been completed by amendment to
the terms of the Option and Joint Venture Agreement between the Company and
Apoio Engenharia e Mineração dated effective September 30, 2010 (the
'Agreement'). In addition to its previously disclosed obligations under the
Agreement, Brazil Resources will be responsible for the annual land fees
payable to the Brazil National Department of Mineral Production.
About the Gurupi Gold Belt
The Gurupi Gold Belt is an underexplored and emerging geological region
that hosts several million ounces of gold resources within 100 km of the
Company's MontesÁureos and Trinta Projects. At present, recognized mining
companies including Kinross Gold, Jaguar Mining and Luna Gold are active
with exploration programs, development of established deposits and
production. The Gurupi Gold Belt is believed to be part of the same
geological structure as the West African Shield which has produced millions
of ounces of gold production.
Paulo Pereira, a member of the Company's technical team, has supervised the
preparation of the technical information contained in this news release.
Mr. Pereira holds a Bachelor degree in Geology from Universidad Do Amazonas
in Brazil, is a qualified person as defined in NI 43-101 and is a member of
the Association of Professional Geoscientists of Ontario.
About Brazil Resources
Brazil Resources is a mineral exploration company with a focus on the
acquisition, exploration and development of mineral properties in the
emerging gold districts of Brazil and in additional prolific areas of South
America. Currently, the Company's principal property is the MontesÁureos
Gold Project, located within the Gurupi Gold Belt in the state of Maranhão,
Brazil.
For additional information, please contact:
Patrick Obara
Telephone: +1 (604) 227 1124
info(at)brazilresources.com
FORWARD LOOKING STATEMENTS
This news release 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 plans in respect of its MontesÁureos project, including the
Trinta Area, and its future acquisition strategy. Forward-looking
statements are based on the then-current expectations, beliefs,
assumptions, estimates and forecasts about the business and the industry
and 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; general business and economic conditions will
not change in a material adverse manner; financing will be available if and
when needed on reasonable terms; the Company will not experience any
material accident; and the Company will be able to identify and acquire
additional mineral interests on reasonable terms or at all.
Forward-looking statements are not guarantees of future performance and
involve risks, uncertainties and assumptions which are difficult to
predict. 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 property is in the exploration stage and is
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; competition; potential inability to find suitable acquisition
opportunities and/or complete the same; and other risks and uncertainties
listed in the Company's public filings. 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, which are qualified in their entirety by this cautionary
statement. 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.
End of Corporate News
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129163 20.06.2011
Datum: 20.06.2011 - 15:20 Uhr
Sprache: Deutsch
News-ID 34429
Anzahl Zeichen: 0
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Kategorie:
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