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Monday, 26th June 2006 (3178 views)

Australia's Aurora Gold is about to add an eighth property to its portfolio in the Brazilian Tapajos gold province.

The exploration company has signed a Memorandum of Understanding on the 1,600-hectare Santa Lucia property, ten km south west from its existing Santa Isabel property.

Aurora Gold now has 90 days to decide whether to take on the mineral rights and with them the gold potential. If the deal goes ahead Aurora Gold will be able to proceed to carry out the geological surveys and assessment of the economic potential of the site.

The geology of the Tapajos is characterised by Pararui intrusive suite granites and fewer stocks of the Maloquinha intrusive suite. Recent exploration of sub-vertical mineralised quartz veins has produced samples of between 17 and 25.9g/t. Aurora is now confident that drilling at Santa Lucia can yield high-grade vein gold deposits.

The largest property holder in the area, Aurora Gold has 54,613 hectares in Tapajos province, including Ouro Mil, São Domingos, São João, Piranhas, Branca de Neve and Bigode, as well as Santa Isabel and now Santa Lucia.

 

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