Rio Novo Gold has reported drilling assay results from the X1 Target at its Guarantã Gold Project, near Guarantã do Norte city in Mato Grosso State, Brazil.
The company describes the X1 target with a famous hill related to the extreme hydrothermal modification of a granitic body with rich pyrite, silica and muscovite. This target has showed a VTEM geophysical anomaly that expands 500 to the west of the unique borders of the deposit. Field mapping of protrusion information has specified that there is a NE trending fault moving part of the mineralized zone to the north, though it has been noted that the blocks dislodgment is not important and X1 mineralized target is perhaps continuous.
The extension hole, FX1D-0021 has drilled 40 metres west of DDH SEX1-01 and intersected 3.1 g/t gold over 109m. The hole FX1D-0021 has cut 7.36 g/t gold over 8.00m, 1.92 g/t gold over 13m.
The log of hole FX1D-0023 adds more weight, which is drilled on the similar segment and 40m to the south of the FX1D-0021 hole that demonstrates similar lithological features of phyllic alteration, which is sulfides rich.
The company has encountered 11.63 g/t gold over 5.0m, 3.03g/t gold over 9.70m, 3.56 g/t gold over 14.65m in Hole FXD1-0021.
Due to these significant findings, Rio Novo has planned a follow on program to test the WNW trend. In relation to inferred VTEM geophysical data, drilling expands around 500m to the WNW trend.