Brazil Resources Inc. (TSXV:BRI) announced it has staked 247,000 acres covering the Pireneus region in Goias State, Brazil.
As quoted in the press release:
After completing a preliminary review of available exploration data and examining neighbouring projects, the Company’s geological team is encouraged by the potential of the new project area. Goias State is an emerging gold-producing district in Brazil with increasing production from the Kinross-Anglogold Ashanti Crixas Mine and Yamana Gold’s Chapada Mine, and total qualified gold resources of more than 7 million ounces. The Company has identified areas of initial interest based on geophysical surveys and regional geochemical sampling. A regional exploration program is scheduled to begin immediately upon obtaining the requisite exploration license, which will include mapping, stream sediment sampling, soil sampling and geophysical reconnaissance on these areas.
Brazil Resources President and CEO, Stephen Swatton said:
“Today’s announcement is a significant development in realizing our goals to establish a diversified project portfolio throughout Brazil by adding this district-sized land package in one of Brazil’s most prominent mining jurisdictions. We continue to be excited by the potential of our exploration activities in the Gurupi Belt, including our pending drilling program at Montes Áureos, which is currently our primary project.”