Wednesday, 23rd January 2008 (2663 views)

Exploration of projects in Brazil will be the focus for Canadian firm Linear Gold in 2008, the company has announced.

Linear has recently acquired four projects in Brazil, which have all hosted artisan gold works and have gold mineralisation at or near the surface.

However, it says modern systematic exploration has not yet been carried out at the sites and this will form the basis of its 2008 operations.

The prospects hold "significant potential" of large-scale bulk tonnage and high-grade gold deposits, Linear says.

Sampling is already underway at three of the properties, Trairao, Apiacas and Serrinha, while drilling is scheduled to start at the fourth, El Filao, in February.

Drilling at the other sites is expected to begin in the second quarter of the year.

The company's plans follows its performance in 2007, during which the company raised C$25 million (£12.5 million) in equity funding and its joint ventures provided $18 million of carried expenditures.

Brazil has become increasingly attractive for mining investment in recent years, according to industry analyst the Gold Fields Mineral Service, as robust gold prices have attracted a new wave of foreign finance.

 

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