Brascan Gold Activates Earn-in Option on the Alegre Gold Project in Northeastern Brazil - Seite 2

CBM will provide project management and field services to Brascan, subject to a Technical Committee representing both Parties, and under terms to be agreed upon by both Parties. Brascan is especially pleased to engage CBM’s services, given CBM’s experience in exploration and mining projects elsewhere in Brazil, and their current operation of an exploration camp and program less than an hour from the Alegre Property.   

Gold garimpo of significant scale on the Alegre property.
https://www.globenewswire.com/NewsRoom/AttachmentNg/fab96205-91e2-422e ...

Additional Brazilian Gold Targets

Brascan is concurrently conducting detailed due diligence studies on two other gold projects in Brazil. One is in Goias State, about a 3-hour drive from Brasilia, where Brascan has identified “blue-sky” potential for gold along a 1.6 km. mineralized trend. It also may be suitable for bulk sampling under a Brazilian trial mining licence, while the blue-sky potential is being explored. The other Project is located in the heart of Brazil’s traditional mining district in Minas Gerais State. In that area, gold mining has occurred since the times of the Portuguese empire, but exploration work suggests high-grade targets remain.

Balbir Johal, Director and CEO, stated “The Alegre Gold Project has exceeded our expectations. The potential to find an industrial grade gold resource is remarkable given the central location of the Alegre Property which is surrounded by gold resources owned by other mining companies.” He continued on to state that “Brascan is fully funded to carry out a major exploration program in February.” He concluded by remarking that “European investors have shown very positive interest in the Alegre Gold project in Brazil. They see the Brascan Gold Project business case as quite compelling given the country’s poor economic conditions which may lead to a bottom plateau. Timing is everything.”

Qualified person

Harrison Cookenboo Ph.D., P.Geo. and a QP by the standards of Canadian National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.

About the Company

The Company is a gold exploration issuer based in Vancouver, BC. The Company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC and the Middle Arm Fault and Black Cat properties, located 30 km. and 40 km. south, respectively, of the town of Baie Verte, Newfoundland. Brascan Gold has recently negotiated earn-in options on multiple Brazilian gold properties including the Alegre Gold Project in northeastern Brazil.