Join our mailing list
Amazon Intercepts 17m of 3.93g/t Au at Tocantins Gold Project
Amazon Mining Holding Plc ("Amazon" or the "Company") (AMZ:TSX-V) has released the initial set of assay results from its 100% owned Tocantins Gold Project ("Tocantins") in Brazil, at which Brazilian mining giant Companhia Vale do Rio Doce ("CVRD") conducted exploration work in the early 1990's.
Highlights:
- Phase 1 core diamond drilling ("DDH") along the Igreja-Gerseu trend shows higher grades and widths than historic CVRD data indicated; DDH results include:
- 2m @ 18.97g/t Au (AMZ TO-08);
- 17m @ 3.93g/t Au including 4m @ 9.01g/t Au and 2m @ 11.05g/t Au (AMZ TO-09);
- Continuity of mineralization confirmed according to the mapped structures and importantly, correlating closely to historic CVRD drill data
- Exploration continues along the Igreja-Gerseu trend which is believed to be the western limb of a major hinge or 'nose fold' structure; and
- Exploration has commenced within a 4km by 4km primary target area covered by laterite where prior work also indicated the presence of a major 'nose fold' hinge structure.
Commenting on the results, Amazon's Vice President of Exploration, Oscar Yokoi said: "The gold mineralization at Tocantins is associated with sulphide and sometimes magnetite rich quartz veined horizons hosted by deformed mafic and felsic volcanics predominantly covered by laterite. Our results from targeting the Igreja-Gerseu trend are positive as they both confirm continuity of mineralization according to the mapped structures and importantly, correlate closely with the historic CVRD drill information. Based on this new data, correlation and understanding, the primary target for Amazon is a 4km by 4km laterite covered area where previous MAG work indicated the presence of a major nose fold structure. An intense auger drilling campaign is now underway in this area."
Tocantins Gold Project
The 9,103.52 ha, 100% owned Tocantins gold project is located in the state of Tocantins, Brazil, and lies with a prolific Archean Greenstone belt. The project is accessible by well established infrastructure and historically the region was mined by early Portuguese/Brazilian explorers and garimpiros who extracted gold from alluvial and saprolite deposits via shallow open pits and shafts.
CVRD conducted exploration work in the early 1990's, based on an exploration model that gold mineralization was associated with low angle thrust faults. CVRD's exploration was concentrated along the limbs or flanks of fold structures and resulted in the identification of several surface gold occurrences.
In previous work conducted in May 2006, Amazon undertook a 3 month exploration program consisting of detailed mapping, limited ground magnetic surveying, data reinterpretation and RAB drilling. Based on this work, Amazon concluded that the former CVRD exploration model may well have been incomplete. The Company now believes that the structural controls for gold mineralization at Tocantins are hinge zones of major 'nose folds' in contrast to the historic CVRD approach.
Summary: Phase 1 Diamond Drilling Program:
Amazon's Phase 1 exploration focused on three targets along the Igreja-Gerseu trend; a trend which is believed to represent the western limb of a major 'nose fold' hinge structure. The 12 hole DDH program, totaling 1,731 meters of HQ was designed to test for near surface structurally controlled 'cigar type' high grade gold mineralization and lower grade mineralized envelopes within an area encompassing 4km by 2km at which CVRD had completed a 9,000 meter reverse circulation drill program in the late 1990's. Selected intercepts to date that exceed 100ppm Au are presented in the series of tables below. The complete data set including map of the DDH collar locations can be found on the Company's website (www.amazonplc.com) filed with this press release.
Select Drill Results (>1g Au/t): Igreja-Gerseu Trend
| AMZ TO 02 | From(m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 186.00 | 187.00 | 1 |
1.36 |
Total hole length = 242.80m and terminated at 221.00 vertical m below surface. Drill azimuth 110o and dip -70o
| AMZ TO 03 |
From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 59.00 | 60.00 | 1 | 2.77 | |
| 61.00 | 62.00 | 1 | 9.08 | |
| 72.00 | 73.00 | 1 | 7.13 | |
| 77.00 | 80.00 | 3 | 1.37 | |
| including | 77.00 | 78.00 | 1 | 2.93 |
| 79.00 | 80.00 | 1 | 1.07 |
Total hole length = 103.20m and terminated at 82.50, vertical m below surface. Drill azimuth 90o and dip -60o
| AMZ TO 04 |
From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 43.00 | 44.00 | 1 | 1.51 |
Total hole length = 133.20m and terminated at 133.40 vertical m below surface. Drill azimuth 110o and dip -60o
| AMZ TO 06 | From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 112.00 | 113.00 | 1 | 1.90 | |
| 114.00 | 115.00 | 1 | 1.41 | |
| 129.00 | 130.00 | 1 | 2.78 |
Total hole length = 143.84m and terminated at 124.20 vertical m below surface. Drill azimuth 118o and dip -60o
| AMZ TO 07 |
From(m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 71.00 | 72.00 | 1 | 3.46 | |
| 81.00 | 82.00 | 1 | 1.62 | |
| 131.00 | 135.00 | 4 | 4.07 | |
| 147.00 | 148.00 | 1 | 1.42 |
Total hole length = 172.40m and terminated at 172.40 vertical m below surface. Drill azimuth 0o and dip -90o
| AMZ TO 08 | From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 15.00 | 16.00 | 1 | 2.19 | |
| 24.00 | 27.00 | 3 | 2.90 | |
| including | 24.00 | 25.00 | 1 | 4.83 |
| 26.00 | 27.00 | 1 | 3.71 | |
| 31.00 | 32.00 | 1 | 5.57 | |
| 38.00 | 39.00 | 1 | 2.49 | |
| 42.00 | 43.00 | 1 | 1.26 | |
| 101.00 | 102.00 | 1 | 2.75 | |
| 107.00 | 109.00 | 2 | 18.97 |
Total hole length - 127.30m terminated at 108.90 vertical m below surface. Drill azimuth 125o and dip -60o
| AMZ TO 09 |
From(m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 61.00 | 62.00 | 1 | 3.07 | |
| 66.00 | 71.00 | 5 | 2.63 | |
| including | 66.00 | 67.00 | 1 | 4.06 |
| 67.00 | 68.00 | 1 | 1.55 | |
| 69.00 | 70.00 | 1 | 4.65 | |
| 70.00 | 71.00 | 1 | 2.32 | |
| 80.00 | 97.00 | 17 | 3.92 | |
| including | 80.00 | 84.00 | 4 | 9.01 |
| 89.00 | 90.00 | 1 | 1.47 | |
| 92.00 | 94.00 | 2 | 11.05 | |
| 96.00 | 97.00 | 1 | 6.59 | |
| 102.00 | 103.00 | 1 | 1.17 | |
| 157.00 | 158.00 | 1 | 1.50 |
Total hole length = 200.0m and terminated at 195.20 vertical m below surface. Drill azimuth 0o and dip -90o
| AMZ TO 10 | From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
| 32.00 | 33.00 | 1 | 1.18 |
Total hole length = 208.60m and terminated at 207.4.90 vertical m below surface. Drill azimuth 0o and dip -90o
Note: Whilst the intercepts do not represent true thickness, due to the inclination of the drill holes and the mineralized zones, the intercepts approximate true thickness.
Competent Person and Sampling Protocols
As requires by Canadian National Instrument 43-101, Amazon's designated qualified person requird for review of the Technical and scientific information herein contained is Dr. João Batista G.
Teixeira, Chief Geoscientist and an employee of the Company. The longitudinal half cores were sampled at every 1.0 meter interval and shipped to the certified SGS-Geosol Laboratory in Belo Horizonte, Brazil for Au assaying. Three types of standards (from Rocklabs Limited in Auckland, New Zealand for sample preparation) and duplicates were inserted at each 20 core sample interval point and blanks (from Rocklabs Limited) also inserted at 30 core sample interval point in line with the Company's quality control procedures. The Company maintains an archive of both half core samples and remnant of samples/pulps sent to laboratory.
Option Grant
The Company further announces that an employee has been granted options to purchase 250,00 common shares of the Company at an exercise price of $1.20 per share. The options vest over a period of two years and have an expiry five years from the date of grant. The grant is subject to regulatory approval.
About Amazon
Amazon is listed on the TSX Venture exchange and is a mineral exploration company engaged in acquiring and developing gold exploration properties in Brazil. Its strategic focus is to acquire
projects with demonstrated potential for hosting gold deposits and to define resources through exploration and drilling campaigns.
On behalf of the Board of
Directors of Amazon Mining Holding Plc
Cristiano Veloso, President & Chief Executive Officer
For additional information please contact:
Cristiano Veloso, President & Chief Executive Officer
Tel: +44 (0) 20 8133 7607;
Nadine Williams, Investor Relations
Tel: (416) 866-2966; Fax: (416) 867-9393;
Email: nw@amazonplc.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.
This press release contains certain “forward looking statements”,which include but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding use of proceeds, exploration prospects, identification of mineral reserves, costs of and capital for exploration projects, exploration expenditures, timing of future exploration and permitting, requirements for additional capital, government regulations of mining operations, environmental risks, reclamation expenses, title disputes or claims, and limitations of insurance coverage. Forward looking statements can generally be identified by the use of words such as “plans”, “expects”, or “does not expect” or “is expected”, “anticipates” or “does not anticipate”, or “believes”, “intends”, “forecasts”, “budget”, “scheduled”, “estimates” or variations of such words or phrases or state that certain actions, event, or results “may”, “could”, “would”, “might”, or “will be taken”,
“occur” or “be achieved”. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by said statements. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in said statements. Accordingly, readers should not place undue reliance on forward-looking statements.