Panoramic View on the Prospects & Investments in the ... - ADIMB

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Panoramic View on the Prospects & Investments in the ... - ADIMB

ong>Panoramicong> ong>Viewong> on the Prospects & Investmentsin the Tapajós-Xingu ProvincesElton L.S. Pereira22/May/2012Simexmin’ 2012


• During 1960’s:• Access by rivers.• During 1970’s and 1980’s:• Airstrips for small aircrafts.• From 1980’s:Infrastructure Evolution• Transamazonian, Cuiabá-Santarém & Transgarimpeira roads.• From 1990’s:• Capillary roads for logging purposes.• Tucuruí power line to Itaituba.• From 2000’s:• Power line from Novo Progresso thermo plant to the Palito mine.• PCH’s at Curuá river (55 MW).• Novo Progresso substation connected to the national power grid.• Cuiabá-Santarém road being paved.• From 2013:• Power line (138 KVA) and road access to Tocantinzinho.• Hydropower plants at Crepori, Jamanxim & Tapajós rivers.Simexmin’ 2012


1950’sSimexmin’ 2012


1970-1980Simexmin’ 2012


1970-1980Simexmin’ 2012


1980’sSimexmin’ 2012


1980’sSimexmin’ 2012


1990-2000Simexmin’ 2012


Energy SuplySimexmin’ 2012


Energy SuplySimexmin’ 2012


Infrastructure ImprovementsPower Line at BR-163Power Line at BR-163Portion already paved of BR-163Portion already paved of BR-163Simexmin’ 2012


Environmental Areas (2006)Simexmin’ 2012


Tapajós Exploration Evolution• Gold first discovered in 1958 at das Tropas River mouth• Main gold rush during the 1980’s• First round of modern exploration from 1992 to 1998• Rio Tinto, TVX, Barrick, Homestake, Placer DomeSão Jorge, Palito, Ouro Roxo, Castelo de Sonhos• Second round of modern exploration from 2003 to present• Brazauro, Serabi, Magellan, Brazmin, Aurora, Solitario,Amerix, Brazilian Gold, Chapleau, TriStar Gold, DouraveTocantinzinho, Cuiu-Cuiu, Coringa, Palito, São Jorge, Ouro Roxo,Castelo de Sonhos, Boa Vista.Simexmin’ 2012


First Exploration Round, Major CompaniesSimexmin’ 2012


Results of the First Exploration Round• São Jorge (Rio Tinto), 1995-1997• 26 diamond drill holes (4,350 m).• Inferred resources of 1 Moz @ 1.00 g/t Au (Non 43-101) .• Palito (Rio Tinto), 1996• 4 diamond drill holes (~ 1,000 m).• Hole 2: 4.50 m @ 45.00 g/t Au.• Ouro Roxo (Rio Tinto), 1995-1996• 26 Diamond drill holes (+ 4,000 m).• Inferred resources of 500 KOz @ 6.00 g/t Au (Non 43-101).• V3 (Rio Tinto), 1998• 5 diamond drill holes (1,351 m).• Inferred resources of 67 Mt @ 0.47 g/t Au (Non 43-101).• V6 (Rio Tinto), 1998• 2 Diamond holes (600 m). Outcrop chip sample with 0.99% Cu. Mo up to 242 ppm.• Hole 2: 12 m @ 0.83% Cu, 53 m @ 0.27% Cu, 38 m @ 123 ppm Mo.• Castelo de Sonhos (Barrick), 1995-1996• 22 Diamond drill holes (2,023 m).• Best drilling intercept: 20 m @ 2.80 g/t Au.Simexmin’ 2012


Second Exploration Round, Junior CompaniesSimexmin’ 2012


Tocantinzinho (Brazauro/Eldorado)• Workings from 2004 to 2012• Gold hosted in Granites with sil-chl-hem-sulf alteration in a stockwork pattern.• Deposit is 700 m long, 100-250 m wide, 350 m depth (N40W, vertical).• 167 diamond holes (46,900 m).• Total resources of 77.2 Mt @ 1.02 g/t (2.54 MOz Au). Cut off 0.3 g/t Au.• P&P reserves of 49 Mt @ 1.25 g/t (1.98 MOz Au). Cut off 0.5 g/t Au.• Capex: US$ 383 M, Cash cost: US$ 559/Oz, LOM: 11 years (159 KOz/year).• Construction decision by the end of 2012.• Production start up: Mid 2014.Simexmin’ 2012


São Jorge (Brazmin/Brazilian Gold)• Workings from 2005 to 2012• Gold hosted in Anf-Bio Monzogranite with strong sil-ser-hem-sulf alteration.• Deposit 700 m long, 100 m wide, 350 m depth (N70W, vertical).• 121 diamond drill holes (32,756 m).• Total resources (43-101) of 32.04 Mt @ 0.87 g/t (937 KOz Au), 0.3 g/t cut off.• Capex: US$ 114 M, Cash cost: US$ 624/Oz, LOM: 8 years , 53 KOz/year.Simexmin’ 2012


Cuiu-Cuiu (Magellan)• Workings from 2006 to 2012• TVX, Phelps Dodge, RTZ (1996-1999).• Gold hosted in coarse grained porphyritic granites with sil-sulf-ca stockwork andaside andesite dykes.• Gold occurs in more than one separate bodies. Low sulfide content (1-2%).• 104 diamond holes (25,955 m).• Best drilling intercepts:• 134.5 m @ 1.15 g/t (DH-03)• 174.2 m @ 1.46 g/t (DH-16)• 220.7 m @ 2.02 g/t (DH-32)• Total resources (43-101) of 34.4 Mt @ 1.18 g/t (1.3 MOz Au). Cut off 0.3 g/t Au.Simexmin’ 2012


Coringa (Chapleau/Magellan)• Workings from 2007 to 2012• Quartz sulfide vein deposit hosted in granites, rhyolites and breccias.• Veins are 0.2 to 2.6 meter wide, NW /subvertical.• High grade zones contain 8% Pb and 6% Zn.• Galena Block• 400 m long, two ore shoots• DH-34: 1.5 m @ 21.04 g/t Au.• Serra block• 700 m long, two ore shoots.• DH-01: 1.5 m @ 29.31 g/t Au.• 81 diamond drill holes (8,785 m).• Total resources of 4.49 Mt @ 5.94 g/t (925 KOz). Cut off 2.0 g/t Au.Simexmin’ 2012


Palito (Serabi)• Production from 2003 to 2008• Quartz sulfide vein deposit hosted in granites, rhyolites, dacites and breccias.• Veins are 1 meter wide (average), NW /vertical 1,050 m long up to 200 m depth.• Gold grades range from 15 to 30 g/t Au. Copper as by-product.• Higher Au grades directly related to high copper.• Produced 480,000 t @ 6.76 g/t (110,097 KOz Au @ 90% recovery).• Total resources of 2.94 Mt @ 6.34 g/t (668 KOz Au equiv). Cut off 1 g/t.Simexmin’ 2012


Castelo de Sonhos (TriStar)• Workings started in 2011• Gold hosted in proterozoic (2.1 Ga) conglomerates.• Mineralized zones with strong silica and hematite alteration.• Conglomerate package as thick as 150 meter extending for more than 15 Km.• Main soil anomaly (+ 100 ppb Au) extends for more than 7.5 Km.• Geology, mineralization and Au intercepts similar to Jacobina and Tarkwa.• DH-14: 4.00 m @ 10.14 g/t• DH-16: 2.00 m @ 11.17 g/t• DH-24: 11.00 m @ 2.34 g/t• DH-31: 12.00 m @ 4.27 g/t• DH-32: 2.15 m @ 7.36 g/t2.80 m @ 11.21 g/tSimexmin’ 2012


Other Deposits and Findings• Ouro Roxo (Amerix)• Shear hosted in metadiorites.• Total resources of 649 KOz @ 4.00 g/t Au.• Água Branca (Eldorado/Unamgen)• Granite hosted, stockwork.• DH-42 154.2 m @ 1.06 g/t Au.• Boa Vista (Brazilian Gold)• Granite/volcanic hosted.• DH-01: 102.3 m @ 1.43 g/t Au.• DH-11: 97.0 m @ 1.72 g/t Au.Simexmin’ 2012


Volta Grande (Belo Sun)• Exploration Workings• 1996-1998: VGM (18,721 m /109 diamond holes). Initial resource of 1.4 MOz.• 2006-2008: Verena (10,823 m/56 diamond holes).• 2010-2011: Belo Sun (42,960 m/173 diamond holes).• Prospect located at Três Palmeiras Greenstone Belt (Bacajá).• Gold hosted in sheared diorites associated to silica alteration plus Py, Aspy.• Total resources of 88.4 Mt @ 1.69 g/t Au (4.82 MOz). Cut off 0.5 g/t Au.Simexmin’ 2012


Conclusions• Infrastructure in the Tapajós is improving.• Investments have raised resources from 2.5 MOz to 7.05 MOz (43-101).Drilling moved from 20,000 m to +120,000 m.• New prospects (Água Branca, Boa Vista, Castelo de Sonhos) withpositive potential to add more ounces in next years.• Geological knowledge being overpast by exploration.• Environmental restrictions to impede exploration in 50% of Tapajósarea.• Permit to explore/mine in the FLONAS, should (or, MUST) be an officialpolicy of MME in the government. Positive examples are Trombetas &Carajás.Simexmin’ 2012

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