Brazilian Gold Corp. (TSXV:BGC) announced that the updated NI 43-101 compliant resource estimate for its wholly-owned Sao Jorge gold deposit includes an indicated 14,230,000 tonnes grading 1.18 g/t gold (541,000 ounces) and an inferred 27,810,000 tonnes grading 0.68 g/t gold (611,000 ounces) at a cut off of 0.3 g/t.
According to the press release, highlights include:
- Indicated ounces have increased by 43% (partly reflecting an 18% increase in indicated grade) when compared to the previous resource estimate in the 2011 Preliminary Economic Assessment (PEA) by Coffey both of which were reported at a 0.3 g/t gold cut-off.
- At a 0.5 g/t gold cut-off grade, the indicated gold grade increases to 1.40 g/t gold (Table 1) with a total of 465,000 contained ounces.
- Inferred ounces have increased 9.5% (partly reflecting a 35% increase in tonnage) when compared to the 2011 PEA.
We are delighted with the results of the updated independent resource estimate on the São Jorge deposit. The increase in tonnage and grade of the indicated resource suggests that significantly more ounces will fall within the pit shell as compared to the 2011 PEA, as well as the increase in the inferred ounces that will fall into the same mining inventory.