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Brazil Resources Inc. (TSXV:BRI) released the results of a recently completed NI 43-101 mineral resource estimate, which was completed by Tetra Tech, on its Cachoeira do Piria Gold Project in Brazil. Highlights include an increase in the Indicated Resource by 77% to 786,737 ounces gold at 1.4 g/t and an increase in the Inferred Resource by 184% to 628,035 ounces gold at 1.12 g/t.
As quoted in the press release:
Highlights include:
- Indicated Resource – 17,470,093 tonnes at 1.40 g/t gold (786,737 ounces);
- Inferred Resource – 15,666,580 tonnes at 1.12 g/t gold (628,035 ounces);
- This new estimate represents a 77% increase in the indicated and a 184% increase in the inferred categories over the December 2010 Roscoe Postle Associates Inc. (“RPA”) figures; and
- Resource expansion drilling program to be initiated 2Q 2013.
Brazil Resources Inc., President and CEO, Stephen Swatton, said:
This resource estimate from Tetra Tech, one of the world’s leading mining consulting companies, is a milestone for the Company. We are currently reviewing all options to fully exploit the potential of the asset, including the possibility of developing multiple pits in addition to further exploration of the surrounding areas. The current drill spacing is approximately 60m, therefore the Company will embark on further tighter drilling with minimal cost to upgrade much of the inferred resource to the indicated resource category.
Click here to read the Brazil Resources Inc. (TSXV:BRI) press release