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Brascan Gold Announces Completion of the Due Diligence Site Visit on the 100% Earn-In Option on the Alegre Gold Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2021) - Brascan Gold Inc. (CSE: BRAS) ("Brascan" or the "Company") is pleased to report that the due
About this update from Westgold Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 29, 2021) - Brascan Gold Inc. (CSE: BRAS) (\"Brascan\" or the \"Company\") is pleased to report that the due diligence site visit on the Alegre Gold Project (the \"Project\") in Brazil is complete. The site visit verified multiple recently active or active artisanal gold mines (garimpos) of significant scale, apparently recovering gold from the weathered saprolite zone within structurally controlled shear zones. These gold garimpos attest to Project's significant gold potential. Brascan believes the saprolite (weathered zone) gold mineralization is likely to extend into the bedrock below, and that will be a focus of the anticipated exploration program. This exploration program is expected to include geophysics (magnetics and electromagnetics), surface sampling and planning of the best cooperative ways forward working with the garimpeiros. Gold garimpo of significant scale on the Alegre property. The Project comprises a single exploration licence of 9,465 hectares, accessed by a 5 hour drive from Belem city located in Pará State, northeastern Brazil. The Alegre Gold Project is accessible by highway from the city of Belem, which in turn is accessible by scheduled air services. Brascan is using the due diligence period to evaluate the potential of the Alegre Gold Project and expects to announce its acceptance of the previously announced Mineral Property Option Agreement between Brascan and 100% claim owner Chapada Brasil Mineração Ltda. (\"CBM\" or the \"Optionor\") in January of 2022. CBM reports that the Project is located on the same gold mineralization trend as Goldmining Inc.'s advanced Cachoeira gold project 15 km to the north and Oz Minerals' Centrogold Project 30 km to the south (considered one of Brazil's largest undeveloped gold projects). CBM also reports that other adjacent neighbors to the Alegre Gold Project include Kinross Brasil Mineração and IAM Gold Corp. https://www.goldmining.com/projects/brazil/cachoeira/) https://www.ozminerals.com/en/where-we-work/gurupi/centrogold Location of the Alegre Gold Project property (yellow) between Goldmining's Cachoeira Gold Project (green) to the north, and OZ Minerals' CentroGold Project to the south, within the same structurally deformed volcaniclastic stratigraphic unit. Brascan will earn a 100% interest in the Project u...