Monday, 23rd May 2005 (3203 views)

Tiger Resources has announced that it has made two new gold acquisitions in northern Brazil.

The Australian exploration company is investing in two projects in the Tapajos region, which is responsible for a significant proportion of Brazil's gold output.

Tiger Resources executive director, David Zukerman, described the acquisition of the Bom Jardin Creek project in the south-east state of Para, and the Rosa de Maio project in Amazonas state, as a "strategic investment."

Preliminary sampling at Rosa de Maio has identified very high gold values within the quartz veins, including 108 g/t, 60 g/t, and 11 g/t gold. Similar sampling at Bom Jardin found bonaza grades in excess of 100 g/t gold.

"Exploration to date within the project area for primary mineralisation has been minimal and drilling has not previously been undertaken so our goal is to spend a minimum of US $1 million a year on drilling to delineate a significantly mineralised system," Mr. Zukerman stated.

The Tapajos district produced up to 40 per cent of Brazil's total gold output in the 1970s and 1980s and alluvial mining still produces between 200,000 and 300,000 ounces of gold annually in the region, Mr Zuckerman added.

 

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