Magellan Minerals, an exploration and development company, has reported the results of its ongoing prospecting work performed to target high grade structures at its Cuiu Cuiu project situated in the Para, North Brazil. Currently, the project comprises 31Mt at 1.2g/t gold of inferred resources and 3.4Mt at .0 g/t of measured resources.
The results show 203.5 g/t gold value from a grab sample obtained in the Quebrabunda zone, situated around 1 km north of the Moreira Gomes deposit. Around 46.4 to 128.6 g/t gold from linear 1 m chip samples were obtained from the 6 Irmaos zone, situated between 180 and 330m, immediately south of the Moreira Gomes deposit. About 7.0 - 14.9 g/t gold in grab samples were obtained from the Cuiabano zone, situated 300 m NE of the Machiche and 500 m north of Moreira Gomes, and 10.9 g/t gold in a grab sample was obtained from the Ivo zone situated 900 m east of the Jerimum de Baixo zone and 800 m north of Moreira Gomes. All the zones were new and have not been discovered before. These four new zones validate the presence of high grade resource potential in the project.
Particularly, the Ivo showings and Quebrabunda yielded 10.9g/t gold and 203.5g/t gold, respectively. These zones are placed apart by 1.4 km alongside east-west trending structure that is parallel to Moreira Gomes and coincided with magnetic low anomaly. Prior sampling in the adjacent artisanal workings at the Cuiu-Cuiu showing that is 100 m east of Ivo, yielded 20.1 g/t gold.
The most important discovery in 2012 is the 6 Irmaos zone. About 128.6, 122.2, 55.0 and 46.4 g/t of gold was encountered from the four samples of the two separate structures in the zone, situated between 180 and 330 m south of the Moreira Gomes deposit. These results follow the prior results obtained from two other structures in the same region that yielded 17.0 and 2.2 g/t gold.
From the 167 holes drilled till date, only three contained targeted high grade vein structures at Guarim showings with 0.5m at 30.2 g/t gold and at the Machiche with 3.3 m at 7.4 g/t gold. Around 20 high grade structures have been determined in the project area.
Source: http://www.magellanminerals.com