Resouro Gold Inc.’s [RAU-TSXV] exploration team has made substantial progress at the company’s 100%-owned Novo Mundo gold project in Brazil in the two months since Resouro began trading on the TSX Venture Exchange. The company mobilized a drill rig and has completed three diamond drill holes and is currently drilling the fourth in the initial 13-hole drill program.
Key activities over the last two months have been a desktop review and modelling of historic data, including soil, rock chip and drilling data defining the major mineralized trends within the main Novo Mundo mineral rights, which confirmed a number of significant geochemical anomalies.
Diamond drill core from previous campaigns has now been relogged to further defined hydrothermal alteration and mineral assemblage associated with both trends. New codes will be used on the geological modelling of the current drilling program.
Rock chips samples from two major open pits at the Luisao-Dionisio trend returned grades of 27.3 g/t and 32.9 g/t of gold. These sample were composed of quartz veins with sericite alteration and high pyrite content. A sample of the host hydrothermally altered granite was also collected and returned a grade of 3.91 g/t gold.
The first two diamond drill holes drilled were targeted at Dionisio. Both intercepted at least two zones with strong sericite + pyrite alteration and quartz veins, which are similar to the mineralized zones found in historical drilling and rock chip samples from the open pit.