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Discovery of gigantic gold and copper deposits could transform the local economy and put Brazil on the global radar of mining companies.
Have you ever imagined a discovery so impactful that it could transform the economy of an entire city? GoldMining Inc. released on Tuesday (09) the final results of its diamond drilling program and updates on the progress of the auger drilling program at its São Jorge Project.
This project is located in the Tapajós gold district in the state of Pará, a region already known for its rich mineral reserves.
Recent drilling has revealed new gold mineralizations and covers about 1 kilometer northwest of the São Jorge gold deposit, in areas that had never been explored before.
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The shallow auger drilling program also yielded encouraging results, identifying new zones of primary gold mineralization at the William South target, approximately 2 km north of the São Jorge deposit.
Auger drill holes showed high-grade intercepts within the top of the weathered bedrock, directly below large high-grade surface soil anomalies.
Advances and statements
Alastair Still, CEO of GoldMining, highlighted the importance of the results: “The exploration program in São Jorge has significantly advanced our geological knowledge in the district, allowing a better definition of the high-grade core of the deposit.
The core drilling program identified mineralization approximately 1 km from the existing mineral resource, in an area with no previous drilling.
The team also found evidence of potential additional corridors of mineralization on the property on a regional scale, confirmed through soil gold sampling and auger drilling.”
Tim smith, Vice President of Exploration at GoldMining, also commented: “Drill hole SJD-124-24 intersected a broad zone of strongly anomalous copper, which is a positive sign as the Tapajós district is known for its porphyry copper and gold mineralization.
Furthermore, the gold mineralization intersected at SJD-123-24 reinforces our theory of an extensive high-tension corridor that could host further gold mineralization throughout the deposit.”
Future perspectives
Since drilling commenced in May 2024, objectives have included both confirmatory drilling around the margins of the existing deposit and exploration for new gold targets within 1-2km of known mineralization.
Auger drilling is focused on the William South area, a high priority zone located approximately 2 km north of the São Jorge deposit.
This target comprises a broad zone of anomalous high-grade gold in soil measuring approximately 2 km x 2 km, with soil assays peaking at 2.163 ppb Au (2,163 g/t Au).
To date, assays have been received for 101 completed holes at the William South target, with approximately 25% of them returning results in excess of 100 ppb (0,1 g/t) Au, confirming the presence of gold mineralization in the weathered bedrock.
This discovery confirms the source of the gold-in-soil anomaly and encourages wider application of auger drilling in other areas of the project.
Economic and logistical impact
São Jorge is located in the Tapajós region, known for its rich gold production, with more than 20 million ounces of gold historically extracted through artisanal mining of surface deposits, according to information from Brazil's National Mining Agency.
The district is also home to Serabi Gold Plc.'s high-grade underground Palito mine and G Mining Ventures Corp.'s newly opened Tocantinzinho Gold Mine, which recently began commercial production.
São Jorge’s strategic location, adjacent to the paved BR-163 highway and a new 138 kV power line corridor, facilitates operations. The project is managed from a permanent camp near the depot and just 3 km from the highway.
A mechanical auger drilling program is underway, comprising an initial 3.000-meter program for approximately 200 holes. This program primarily targets the William South area and may reveal further mineral potential in the region.
For experts, the discovery of new gold deposit and copper in São Jorge has the potential to transform the local economy and position Brazil as a significant player in the global minerals market.
Continued drilling and exploration of new mineralization could open doors to new economic and development opportunities.
Do you believe this discovery could really revolutionize the region’s economy? Share your opinion in the comments!
Poor Brazilian miners are forbidden from mining, persecuted and arrested like ****. When it comes to large companies, especially international ones, no one opens their mouths, there is total silence. The **** is federal.
It seems that most mining companies are foreign. I would like to know how much percent actually stays in Brazil!
To say that it will revolutionize a city’s economy is an understatement!
My opinion is that if mining companies are going to take almost everything, it's better to leave this **** stored in our subsoil to be extracted in the future, when it becomes scarcer around the world and we have better technology for it!