The Jaca prospect area is host to a very large zone of strong clay and iron alteration associated with abundant pyrite stockworks. A mafic unit, associated with a significant structure was identified in drill hole JVM001 in 2010, which intersected 13.45m of 0.21% Cu at the bottom of hole that ended at 141.9m depth.
The Company completed two additional diamond drill holes at the Jaca prospect in 2011 and both drill holes intersected significant copper mineralisation with extensive widths of anomalous copper in JVM003 of 48m at 0.11% and 41.5m at 0.20% Cu. Combined with JVM001 and JVM002 (8.5m @ 0.20% Cu at bottom of hole) the copper anomalism at Jaca has been extended to over 200m in length and is open in all directions.
Throughout the region it is apparent that copper can often halo gold in the mineralising system. The drill-holes completed in the 2011 program at Jaca better define the geometry of the copper mineralisation and pyrite-clay alteration halo for use as a vector to potential gold mineralisation. Both holes drilled in this campaign were successful in intersecting the targeted structure, and the tenor and extent of the copper mineralisation at Jaca is encouraging for the size potential of the Au-Cu target in the area. Both structural and multi-element data collected in recent drilling provide vectors to further expand the mineralised zone.
Jaca Prospect – photo of alteration and stockwork mineralisation in diamond drilling
JVM00 2, ~117.5 to 119m interval averaging 0.29% copper
Two diamond holes, PK002 and PK003, were completed in the December quarter on a target with favourable surface geochemistry adjacent to extensive artisanal workings (>5 linear kilometres). Both PK002 and PK003 intersected alteration with shallow quartz veining and 6-8m zones of strong hydrothermal alteration at depth, but did not return significant gold or copper mineralisation.
The extensive surface workings are in transported material, but are located close to the head waters of the drainage that is host to over 6km of alluvial workings downstream. The source for the transported alluvial gold in this area is interpreted to be proximal, and the Company plans to follow-up in 2012 with auger and/or aircore drilling methods to better define the source of gold at the prospect.
The Sarado prospect is host to intense hydrothermal iron alteration, with massive hematite and magnetite alteration in outcrop at several localities over a 350m, northwest trending zone with assays returning up to 56% iron at surface.
A single diamond hole at Sarado, drilled to better define geology and structure, encountered multiple shears including a 20cm wide structure with very fine grain sulphides within a 1m sample interval returning 0.32% copper. The style of propylitic alteration and copper mineralisation down-hole is analogous to Jaca, which is located ~5km to the northwest along a major NW trending feature in the regional magnetics. Both prospects display pervasive and intense hydrothermal alteration suggesting that a strong regional-scale mineralising system could be associated with the multiple geophysical magnetic anomalies located along the favourable structural trend in the Juruena Belt.
Additional mapping and surface geochemistry along the Sarado-Jaca-Ana mineralised trend is planned to better define a regional scale metallogenic zonation of the mineralising system that appears to extend for over 20km along the northwest trending regional fabric.
Sarado Prospect iron alteration, Quartz-Haematite-Magnetite
The Boneca prospect is located approximately 20km to the north-northwest of the Pe Quente area. The prospect is defined by a large area of alteration, surface geochemical anomalism and garimpo (artisanal) gold workings. With no previous drilling at this prospect, scout drill holes were planned to test areas of observed veining and alteration.
Two diamond drill holes for a total of 121m are complete, with both holes intersecting anomalous gold grades, and the best intercept of 0.75m at 3.55g/t Au was in hole GRB001. The initial intersections are narrow, however surface mapping and field reconnaissance indicate potential to expand the target. The initial field mapping is indicating potential for multiple, sub-parallel zones of mineralisation (veining) with strike extents exceeding 1km. Surface geochemistry over the prospect area has returned several values exceeding 0.5g/t Au with a peak value of 3.1g/t Au in soils.
Summary of recent exploration programs for Pe Quente and regional targets on southeast of land position
|Au (g/t)||Cu (percent)|
Significant Intercepts in recent drilling, Latin Gold Project, Brazil
Latin Gold Project and Regional Geology
Competent person statement
The information in this report that relates to exploration results is based on information compiled by Mr Travis Schwertfeger. Mr Schwertfeger is the Chief Executive Officer of International Goldfields Limited. Mr Schwertfeger is a member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schwertfeger consents to the inclusion in the report of the matters based on information in the form and context in which it appears.