South Atlantic Gold (TSXV:SAO) Provides Update From Phase II Trenching Program at Pedra Branca Project in Brazil

South Atlantic Gold (TSXV:SAO) has announced it has completed a trenching program as part of the Phase II exploration program at Pedra Branca, a project in northeastern Brazil. The highest grading intersection at surface identified was with 3 metres grading 38 grams per tonne gold, after the trenching program assayed more than 200 mineralized intersections.

Douglas Meirelles, the CEO of South Atlantic Gold, commented in a press release: “The Company has successfully completed all trenches for the Phase II exploration program at Pedra Branca. The results have arrived and are being reported as we work to consolidate the data. We have now completed a major milestone and have filed all the final required exploration reports with ANM and expect that these 15 tenements will be approved for the next phases in the process and will be converted from exploration into mining concessions. As shown with the Phase I exploration program, we continue to achieve our objectives on time and on budget.”

Map of Tenement License Status. Source: South Atlantic Gold

The highlights of the Phase II trenching program are as follows:

Trenches (TR) and Reverse Circulation (RC) Drilling Ore Intercepts
>= 0.4 g/t Au Id Type Intercepts From To Target ANM Process
PBTR047 TR 3 m @ 32.63 g/t Au incl. 1 m @ 96.04 g/t Au 21 23 Barra Nova 801.059/2011
PBTR048 TR 1 m @ 1.58 g/t Au 139 140 Barra Nova 801.059/2011
PBTR106 TR 8 m @ 0.94 g/t Au incl. 2 m @ 3.3 g/t Au 12 20 Cachoeirinha 801.054/2011
PBTR108 TR 6 m @ 0.78 g/t Au incl. 2 m @ 1.75 g/t Au 176 182 Cachoeirinha 801.054/2011
PBTR098 TR 2 m @ 0.59 g/t Au 18 20 Moquem Norte 800.605/2012
PBTR098 TR 2 m @ 0.54 g/t Au 350 352 Moquem Norte 800.605/2012
PBTR096 TR 2 m @ 0.47 g/t Au 118 120 Moquem Norte 800.605/2012
PBTR097 TR 2 m @ 0.45 g/t Au 114 116 Moquem Norte 800.605/2012
PBTR099 TR 2 m @ 0.41 g/t Au 246 248 Moquem Norte 800.605/2012
PBTR105 TR 2 m @ 0.475 g/t Au 104 106 Cachoeirinha 801.054/2011
>= 0.1 g/t Au Id   Intercepts From To Target ANM Process
PBTR108 TR 8 m @ 0.16 g/t Au incl. 2 m @ 0.38 g/t Au 94 102 Cachoeirinha 801.054/2011
PBTR108 TR 8 m @ 0.18 g/t Au incl. 2 m @ 0.29 g/t Au 62 70 Cachoeirinha 801.054/2011
PBTR121 TR 16 m @ 0.11 g/t Au incl. 4 m @ 0.302 g/t Au 150 166 Mundo Novo 801.049/2011
PBTR095 TR 8 m @ 0.17 g/t Au incl. 2 m @ 0.28 g/t Au 102 110 Moquem Norte 800.605/2012
PBTR094 TR 4 m @ 0.22 g/t Au 202 206 Moquem Norte 800.605/2012
PBTR105 TR 4 m @ 0.23 g/t Au 92 96 Cachoeirinha 801.054/2011
PBTR126 TR 2 m @ 0.17 g/t Au 44 46 Dedezinho 800.602/2012
PBTR115 TR 8 m @ 0.17 g/t Au 78 86 Barra Nova 801.054/2011
PBTR120 TR 2 m @ 0.15 g/t Au 240 242 Mundo Novo 801.049/2011
PBTR108 TR 2 m @ 0.12 g/t Au 198 200 Cachoeirinha 801.054/2011
PBTR095 TR 8 m @ 0.116 g/t Au 134 138 Moquem Norte 800.605/2012
PBTR105 TR 2 m @ 0.11 g/t Au 78 80 Cachoeirinha 801.054/2011
PBTR106 TR 8 m @ 0.105 g/t Au 32 36 Cachoeirinha 801.054/2011
PBTR108 TR 8 m @ 0.11 g/t Au 148 156 Cachoeirinha 801.054/2011
PBTR095 TR 2 m @ 0.1 g/t Au 150 152 Moquem Norte 800.605/2012

The current status of the tenements of Pedra Branca can be seen on the graphic below. We have successfully submitted the final exploration report of 15 tenements and are advancing it to a PEA stage within ANM (“Agencia Nacional de Mineração”) as required by local legislation. We have also identified high grade results and several continuously mineralized samples over the entire south portion of the Pedra Branca asset as seen on the table of trench assay results.

Source: South Atlantic Gold Inc.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Australian Mines Ltd. AUZ.AX +900.00%
 Adex Mining Inc. ADE.V +50.00%
 Casa Minerals Inc. CASA.V +30.00%
 Rare Element Resources Ltd. REE +26.63%
 Astro Resources NL ARO.AX +25.00%
 Tearlach Resources Ltd. TEA.V +21.05%
 MacDonald Mines Exploration BMK.V +16.67%
 GME Resources Ltd. GME.AX +16.67%
 Standard Lithium SLL.V +16.42%
 Black Iron, Inc. BKI.TO +16.28%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.