Brazil Resources: New Resource Estimate for Island Mountain Project

Brazil Resources (TSXV:BRI) has released a new resource estimate for its Island Mountain deposit with its Whistler project in Alaska.
As quoted in the press release, highlights of the updated report included:

• The district-scale Whistler Project is a 170-sq-km land package that hosts the Whistler and Island Mountain deposits and several porphyry targets with excellent potential for resource expansion on existing deposits as well as new discoveries;
• New resource estimate on the Island Mountain deposit provides an indicated resource of 0.444 Moz gold equivalent (25.75 Mt grading 0.53 g/t gold, 1.16 g/t silver, 0.06 % copper or 0.54 g/t gold equivalent) and an inferred resource of 1.133 Moz gold equivalent(69.23 Mt grading 0.51 g/t gold, 1.07 g/t silver, 0.06 % copper or 0.51 g/t gold equivalent), both at a 0.3 g/t gold equivalent cut-off;
• The Island Mountain Resource estimate is in addition to the previously reported resource estimate for the Whistler deposit. The combined resource for the Whistler and Island Mountain deposits is 2.694 Moz gold equivalent (104.95 Mt grading 0.51 g/t gold, 1.77 g/t silver, 0.14 % copper or 0.80 g/t gold equivalent) in the indicated category and 4.483 Moz gold equivalent (215.03 Mt grading 0.44 g/t gold, 1.53 g/t silver, 0.12 % copper or 0.66 g/t gold equivalent) in the inferred category, both at a 0.3 g/t gold equivalent cut-off;
• Approximately 70,000 metres of historic drilling has been completed on the Whistler Project with 12,668 metres (34 holes) completed at the Island Mountain deposit; and
• The deposits are open in several directions and future drill programs will focus on delineating higher grade, near-surface zones and adding additional resources to these existing estimates.

Brazil Resources CEO, Garnet Dawson, said:

We are pleased to report this maiden NI 43-101 resource estimate for the Island Mountain deposit, which builds on the multi-million ounce resource we announced on the Whistler deposit last year. In addition to the Island Mountain and Whistler deposits, there are several other porphyry centers (Raintree West, Raintree North, Raintree South, Rainmaker and Cirque) with mineralized intersections similar to these deposits. Future drill programs will focus on delineating higher grade, near-surface zones at the Whistler and Island Mountain deposits, expanding their existing resource, and developing a better understanding of the size potential of nearby targets. In conjunction with advancing our existing project portfolio, the Company continues to evaluate resource-stage projects in the Americas for potential acquisition.

Click here for the full press release.