Business
Brascan Gold Negotiates Earn-In Options on Multiple Brazilian Gold Properties, Including the Alegre Gold Project in Northeastern, Brazil
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2022) - Brascan Gold Inc. (CSE: BRAS) ("Brascan" or the "Company") is pleased to provide an update on
About this update from Westgold Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - January 17, 2022) - Brascan Gold Inc. (CSE: BRAS) (\"Brascan\" or the \"Company\") is pleased to provide an update on its ongoing review of the multiple earn-in options on gold properties in Brazil. As previously announced on December 29, 2021, Brascan completed its due diligence site visit on the Alegre Gold Project (the \"Project\") in Pará State, northeastern Brazil. The site visit verified multiple recently active or active artisanal gold mines (garimpos) of significant size, evidently 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 this mineralization will be a focus of the anticipated exploration program. This exploration program is expected to include geophysics (magnetics and electromagnetics), surface sampling and planning with respect to the how to cooperatively work with the garimpos. Brascan hopes to develop strong drill targets from this work, especially given the evidence of garimpo gold production. Location of the Alegre Gold Project: Based on the results of the site visit and additional detailed due diligence on the Alegre Gold Project, Brascan intends to formally announce its acceptance of the earn-in option with the 100% claims owners Chapada Brasil Mineração Ltda. (\"CBM\" or the \"Optionor\") by the end of January, 2022. Gold garimpo of significant scale on the Alegre property. 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 The Alegre Gold Project (yellow) is located between Goldmining's Cachoeira Gold Project (green) to the north, and OZ Minerals' CentroGold Project to the south, within the same 100 km long structurally deformed volcaniclastic stratigraphic unit. Additional Brazilian gold tar...