Horizonte Minerals has started a 3,000 m diamond drilling program at its Falcao gold project in the Carajas mining district, Brazil. This project is a joint venture (JV) with AngloGoldAshanti, wherein the operator is Horizonte.
The Falcao Project is located in the Para state’s southern part roughly 300 km south of Carajas and 100 km south of Araguaia lateritic nickel project of Horizonte. The infrastructure of the region is excellent and the target has excellent access to drill locations. Previously, Brazilian Mines Department granted an extension to the exploration licences, occupying 300 km2 area.
The location of the project is over a structurally complex pane at the east side of the Serra da Inaja Greenstone Belt. Horizonte has performed a radiometric and an aeromagnetic survey, soil sampling and geologic mapping and has started the 3,000 m drilling program in 2010 October. This program has confirmed the presence of an anomalous zone of 300 m to 600 m wide and resulted 13.5 g/t gold.
The goal of the present drilling project is to examine the gold soil anomaly that is presently 4 km long and differ in breadth from 200 m to more than 800 m at values of +50 ppb gold. Ten drill holes between a depth of 200 m and 300 m have a space of more than 4,700 m strike level to analyze the gold soil anomaly and its east expansion. In view of lack of outcrop across a large portion of the anomaly and the lateritised land, the analysis of multi-element soil geochemistry and comprehensive aerogeophysics play an essential role in drill hole positioning.
The Chairman of Horizonte, David Hall stated that this drilling program makes a significant milestone for Falcao because it will offer the initial signs of the control and style on the mineralization. The program will examine for mineralization at different sites along the 4,700 m strike, enabling an assessment and prioritization of regions for follow up drilling to prove project’s economic prospectivity.
Source: http://horizonteminerals.com/