Castelo de Sonhos Gold Project
The Deposit
The Castelo de Sonhos project is situated in the southwestern Pará state, Brazil, approximately 20km from the town of Castelo de Sonhos in a straight line. It is a Paleoplacer gold deposit with 19 km of conglomerate outcrop. Large upside potential remains with only around 60% of the prospective area drilled thus far.
The project currently has a resource of:
Indicated: 17.7 million tonnes at 1.2 g/t, containing 0.7 million ounces (“Moz”) of gold.
Inferred: 39.8 million tonnes at 1.0 g/t, containing 1.3 Moz of gold.
The resource has grown by over 600% in the past two years and upside potential remains. Exploration is ongoing and new mineralised areas identified in early 2018 are yet to be drill tested. This latest resource update will be used in feasibility studies to follow. Drilling significant intervals can be viewed here.
Key Attributes
- 26,750 Ha property, 100% owned
- Mining friendly jurisdiction
- Deposit open along strike and down-dip
- Mineralization at surface → simple open pit
- Good metallurgical properties → high gold recovery
- Substantial amounts of the target prospective area still untested
- Connected to grid power, close to highway
The plateau hosts six identified mineralized conglomerate targets:
- In Esperança East, the largest of the under-explored, high-priority targets, 2018 drilling has shown reefs with higher grades and thicknesses than previously believed and has also shown that mineralization extends further to the south.
- Esperança South continues to provide positive assay results, indicating that the well-mineralized reefs may thicken to the north
- the New Discovery Zone on the west and the Upper Conglomerate Zone, have only recently been discovered and have not yet been drilled.
Location and Infrastructure
Location
- Pará state Brazil, an established mining jurisdiction.
- Far from environmentally sensitive areas and indigenous communities
- 20km in a straight line from the town of Castelo de Sonhos
- Paved national highway 163 through the town
Power
The property was connected to the national grid power from the town of Castelo de Sonhos in early 2018.
Current Resource
As at September 17, 2018
| Region | Classification |
Tonnage |
Grade |
Metal Content |
| Esperança South | Indicated | 11.8 | 1.4 | 0.5 |
| Inferred | 21.7 | 1.2 | 0.8 | |
| Esperança East | Indicated | - | - | - |
| Inferred | 11.8 | 0.9 | 0.4 | |
| Esperança Center | Indicated | 5.9 | 0.9 | 0.2 |
| Inferred | 6.3 | 0.7 | 0.1 | |
| Project Total | Indicated | 17.7 | 1.2 | 0.7 |
| Inferred | 39.8 | 1.0 | 1.3 |
Details are reported in press release dated Sept 17, 2018 titled ‘35% INCREASE IN RESOURCES AT CASTELO DE SONHOS AS PRELIMINARY ECONOMIC ASSESSMENT BEGINS’