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Boa Vista

Overview

  • NI 43-101 mineral resource at VG1 target*:
    • 8.47Mt grading 1.23 g/t (336,000 ounces gold) @ 0.5 g/t Au cutoff
  • Property is located in the Tapajos district of northern Brazil, approximately 170km southwest from the town of Novo Progresso.
  • Brazil Resources owns 84.05% interest in the project, which consists of three exploration concessions for a total area of 12,888 hectares.
  • Six targets have been identified for follow-up exploration including VG1, Jair, Almir, Ze de Leite, Planalto and Pistinha.
  • Novo Progresso offers access to a local labor market and hydro power. Access to the property is via highway BR-163.

Resource

VG1 Gold Target:

The VG1 target has an inferred mineral resource of 8.47Mt grading 1.23 g/t (336,000 ounces gold). To date over 3,000 meters have been drilled .The deposit is open at depth and along strike with a high potential to expand the existing resource. Mineralization is structurally controlled and hosted in mixed volcanic and granitic rocks.

VG1 inferred mineral resource* at various cut-off grades.
Au Cut-off Tonnes > Cut-off Grade > Cut-off Contained Metal
(g/t) (tonnes) Au (g/t) Au (ozs)
0.10 14,240,000 0.87 399,000
0.15 14,020,000 0.88 398,000
0.20 13,740,000 0.90 397,000
0.25 13,010,000 0.94 392,000
0.30 12,130,000 0.98 383,000
0.40 10,410,000 1.09 364,000
0.50 8,470,000 1.23 336,000
0.60 6,980,000 1.38 310,000
0.70 5,930,000 1.51 288,000
0.80 5,090,000 1.64 268,000
0.90 4,580,000 1.73 254,000
1.00 4,150,000 1.81 241,000

*For further information respecting the above resource estimate for the Boa Vista Gold Project, please refer to the technical report by Jim Cuttle, Gary Giroux and Michael Shmulian with an effective date of November 22, 2013 and titled "Technical Report, Boa Vista Gold Project and Resource Estimate on the VG1 Prospect, Tapajós Area, Para State, Northern Brazil", a copy of which is filed under BRI's profile on SEDAR at www.sedar.com.

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