turmalina gold project

Transcription

Consulting Engineers to the Mining Industry
TURMALINA GOLD PROJECT
State of Minas Gerais, Brazil
FORM 43-101F1
TECHNICAL REPORT
Statement of Resources
Prepared by:
TechnoMine Services, LLC
Salt Lake City, Utah – USA
Author: Ivan C. Machado, M.Sc., P.E., P.Eng.
Prepared for:
Jaguar Mining Inc.
Ontario, Canada
October 29, 2004
Revised December 16, 2004
Further Revised December 20, 2004
Turmalina Gold Project – Statement of Resources - Technical Report NI 43-101 Form F1
Item 2 – Table of Contents
Item 3
Item 4
Item 5
Item 6
Item 7
Item 8
Item 9
Item 10
Item 11
Item 12
Item 13
Item 14
Item 15
Item 16
Item 17
Item 18
Item 19
Item 20
Item 21
Item 22
Item 23
Item 24
Item 25
Item 26
Summary
Introduction and Terms of Reference
Disclaimer
Property Description and Location
Accessibility, Climate, Local Resources, Infrastructure and Physiography
History
Geological Setting
Deposit Types
Mineralization
Exploration
Drilling
Sampling Method and Approach
Sample Preparation, Analyses and Security
Data Verification
Adjacent Properties
Mineral Processing and Metallurgical Testing
Mineral Resource Estimates
Other Relevant Data and Information
Interpretation and Conclusions
Recommendations
References
Date
Additional Requirements for Technical Reports on Development Properties
and Production Properties
Illustrations
26.1 List of Figures
Figure 1:
Figure 2:
Figure 3:
Figure 4:
Figure 5:
18
19
19
20
20
20
General Location Map
Geology, Open Pits and Mineral Rights
Turmalina Target – Mineralization Projection
Turmalina Target: Schematic Vertical Section
21
22
23
24
25
Closed access ramp and electrical power
Open access ramp
Old open pit
26
26
27
26.2 List of Pictures
Picture 1:
Picture 2:
Pictures 3, 4:
3
4
5
5
8
9
11
12
12
13
13
14
15
15
15
16
18
Certificate of Author
28
2
Item 3 - Summary
TechnoMine Services, LLC (“TechnoMine”) is an independent Salt Lake City based consulting and
engineering company. TechnoMine was retained by Jaguar Mining Inc. (“Jaguar”) and its subsidiaries
Mineração Serras do Oeste Ltda. (“MSOL”) and Mineração Turmalina Ltda. to review Jaguar’s Turmalina
Gold Project (the “Project”) located in the municipality of Pitangui, state of Minas Gerais, Brazil, to generate
this Technical Report.
The objective of this Technical Report is to describe the approaches and methodologies utilized to determine
the measured, indicated and inferred mineral resources of the Project in accordance with Form 43-101F1.
The author of this report, Ivan C. Machado, M.Sc., P.E., P.Eng., visited the Project once in 2002 and twice in
2004. During each visit, he conducted a two-day due diligence program on the Project. He analyzed data and
reports provided by MSOL staff and the Project’s previous owner, AngloGold Ashanti South America
(“AngloGold Ashanti”) and met with MSOL’s senior staff, engineers, and geologists, led by Adriano L.
Nascimento – VP for Exploration and Engineering and Jaime Duchini Jr. – Chief Geologist, as well as with
AngloGold Ashanti’s senior staff technician, Antônio Raimundo dos Reis.
Jaguar acquired the Project from AngloGold Ashanti on September 30, 2004.
The Project is located 6 km south of the town of Pitangui, approximately 140 km northwest of Belo Horizonte
and includes seven contiguous concessions that cover an area of 5,337.17 hectares (Figures 1, 2 and 3). Belo
Horizonte serves as the commercial center for Brazil’s gold mining industry and has excellent infrastructure
to support world-class gold mining operations.
The geology of the Project is related to the Rio das Velhas and Minas Supergroups. The Project lies on an
extension of the prolific Iron Quadrangle Rio das Velhas Greenstone Belt.
Gold mineralization at the Project occurs in strongly silicified, fine-grained sulfides. The mineralization is
strongly related to hydrothermal alteration of a schist-biotite-quartz-sericite horizon, hosted between
metapellites and chloritic meta-tuffs, and, secondarily, by hydrothermal alteration of layers of the Archean
banded iron formation (BIF) that characterizes the main mineralization of the Iron Quadrangle Rio das Velhas
Greenstone Belt.
AngloGold Ashanti explored the Project’s area extensively between 1979 and 1988 using geochemistry,
trenching, drilling and 3.9 km of underground development. This exploration program led to the discovery of
the following mineralized bodies: Turmalina, Faina, Pontal and Satinoco. During 1992 and 1993,
approximately 373,000 tonnes of oxide ore were mined out (open pit), totaling around 35,500 oz Au,
produced in a local Heap Leach CIC - ADR Plant.
The author of this Technical Report has not been able to find any records related to the sampling method and
approach used by the previous owner. However, AngloGold Ashanti is a well-established and highly
regarded international mining company, known to have excellent technical staffs and there are no facts or
information known to TechnoMine which would make it question whether the work of AngloGold Ashanti
complied with the generally accepted standards of good engineering practice.
Furthermore, the author of this Technical Report has not been able to find any records related to the sample
preparation, analyses and security procedures used by the previous owner.
3
At the time AngloGold Ashanti carried out exploration services, a duplicate analysis was performed for
control for every set of 20 samples. In addition, duplicate analyses were performed whenever a sample would
yield a gold grade higher than 3 g/t.
The data used to determine current mineral resources are from historical reports (the Project was studied,
explored, and operated prior to National Instrument 43-101 (“NI 43-101”), which were reviewed, verified,
and sometimes reinterpreted under TechnoMine’s auspices, aiming to place them – to the best possible extent
- into NI 43-101 compliant categories.
The Project has 1,645,000 tonnes of measured and indicated non-refractory sulfide resources grading 5.90 g/t,
containing about 312,000 oz of gold. About 82% of the 312,000 oz of non-refractory sulfide mineralization is
in the “measured” category and the remainder is in the “indicated” category. The Project also has an
estimated 1,530,000 tonnes of measured and indicated refractory resources grading 5.69 g/t containing about
280,000 oz of gold. Thus, total measured and indicated resource estimate totals about 592,000 oz Au.
Inferred resources estimate amounts to 1,100,000 tonnes grading 5.88 g/t, containing about 203,000 oz of
gold. The figures for contained gold are in-situ mineral resources.
Based on his due diligence efforts, the author of this Technical Report considers the resource estimates
presented in Table 3-1 below and in Item 19 (Mineral Resource Estimates) to be in compliance with the
criteria set forth by NI 43-101 for historical estimates.
TABLE 3-1: SUMMARY OF MINERAL RESOURCES AS OF SEPTEMBER 30, 2004
Turmalina Gold Project
RESOURCES (tonnage and grades)
Measured
g/t
Indicated
g/t
(Measured +
(t)
(t)
Indicated)
g/t
Inferred
(t)
g/t
RESOURCES (oz Au)
(Measured
Inferred
+Indicated)
Non-Refractory Mineralization
Turmalina – Main Target
Turmalina – NE Target
Total Estimate Non-Refractory
Mineralization
1,356,750
5.89
287,820
5.93
1,190,786
5.70
1,356,750
287,820
1,644,570
5.89
5.93
5.90
659,340
294,840
954,180
5.89
5.93
5.90
1,530,387
5.69
119,961
5.70
257,108
54,880
311,988
124,872
56,219
181,090
279,945
21,998
Refractory Mineralization
Faina and Pontal Targets
339,601
In Situ Resources:
Total Estimates
5.64
RESOURCES (tonnage & grades)
Measured +
g/t
Inferred
g/t
Indicated
3,174,957
5.80
1,074,141
5.88
RESOURCES (oz Au)
(Measured
Inferred
+Indicated)
591,933
203,088
Please refer to Figure 4.
It is TechnoMine’s and the author’s recommendation that Jaguar should proceed with the Complementary
Exploration Program recommended herein (Item 22 – Recommendations), as well as with the preparation of a
consolidated Feasibility Study for the implementation and operation of the project, within design criteria,
plans, processes, and schedules compatible with good engineering practices and standards. The project is
adequately mature to move into a full-blown feasibility stage to be developed at a proper pace, in parallel
with the Complementary Exploration Program.
Item 4 – Introduction and Terms of Reference
The objective of this Technical Report is to describe the approaches and methodologies utilized to
determine the measured, indicated and inferred mineral resources of the Project in accordance with Form
43-101F1.
4
The author of this Technical Report travelled to the Project in Minas Gerais, Brazil once in 2002 and twice in
2004. He conducted several meetings with MSOL’s VP of Exploration and Engineering, Adriano L.
Nascimento, MSOL’s Chief Geologist, Jaime Duchini Jr., and several other members of Jaguar’s Brazilian
staff. He also met with AngloGold Ashanti’s senior staff technician, Antônio Raimundo dos Reis.
The author of this Technical Report reviewed the legal and technical documentation related to the Project.
The author of this Technical Report relied on historical data from the previous owner of the Project,
AngloGold Ashanti.
Item 5 - Disclaimer
TechnoMine and its principal Ivan C. Machado, P.Eng. specifically disclaim any responsibility for any
liability, loss or risk, corporate, personal, or otherwise, which is incurred as a consequence, directly or
indirectly, of the reproduction of any part of reports issued by AngloGold Ashanti through Mineração
Turmalina Ltda., since it was expressly authorized by Jaguar Mining Inc. and its Brazilian subsidiaries,
Mineração Serras do Oeste Ltda. and Mineração Turmalina Ltda. to do so whenever necessary, at
TechnoMine’s discretion.
Item 6 - Property Description and Location
The Project is located 6 km south of the town of Pitangui, approximately 140 km northwest of Belo Horizonte
(Figures 1, 2 and 3). Belo Horizonte serves as the commercial center for Brazil’s gold mining industry and
has excellent infrastructure to support world-class gold mining operations.
Geographic location, claims, concessions and/
or permit numbers and status; contiguity
6 km south of the town of Pitangui
140 km northwest of Belo Horizonte
DNPM 812003/75 (980.43 hectares)
DNPM 812004/75 (880 hectares)
DNPM 831617/03 (858.71 hectares)
DNPM 832643/03 (550.03 hectares)
Contiguous
Area
5,337.17 hectares
Percentage ownership
100%
Description of existing and proposed option,
Net Revenue Interest royalty to an unrelated
joint venture, royalty and other agreements,
third party: 5% of annual net revenue up to
including status of each and potential impact on US$ 10 million and 3% thereafter.
percentage ownership
No royalty is payable to AngloGold Ashanti.
0.5% on net revenue (legal – landowner
royalty)
5
Status of land tenure, including expiry date of
claims, licenses and other tenure rights and the
terms for maintaining the mineral rights
Expiry date of claims, licenses and other tenure
rights: coincident with termination of mining
operations and legally required post-mining
procedures. Must prepare and submit to the
National Department of Mineral Production
(“DNPM”) a detailed annual operations report;
mine must be operated pursuant to approved
operations plan (“Plano de Lavra” – Mining
Plan); must employ generally accepted good
engineering practice standards.
Legal impediments, including existing or
pending challenges to claims
None.
Mining Concessions and Exploration Permits
In Brazil, mining activity requires the grant of concessions from the DNPM, an agency of the Brazilian
federal government responsible for controlling and applying the Brazilian Mining Code and requires an
agreement with the landowner. These government permits consist essentially of exploration awards,
exploration licenses, and mining concessions. They are referred henceforward in the text under the term
“permits”. It is worth noting that “exploration” in Portuguese includes both prospecting and “target technical
and economic evaluation” (in general referred to as exploration in Canada and the U.S.). Typically, the area
covered by concessions is up to 10,000 hectares for the Amazon region and 2,000 hectares for the rest of the
country in extent, but may be smaller in area depending upon the region where the concession is situated.
An application for prospecting/exploration must be supported by a location map, exploration plan and
motivation report and must comply with certain other requirements. All documentation must be prepared by
or under the responsibility of an authorized professional such as a geologist or mining engineer.
Provided the area of interest is not already covered by a pre-existing application or exploration permit and that
all requirements are met, the DNPM would normally grant the permit on a priority of application basis.
Applications are sequentially numbered and dated on filing with the DNPM. However, this is not a rule or a
regulation any longer. Applications for exploration permits in important areas will rather be treated as
technical bids.
Fundamentally, the holder of an exploration permit must carry out the work necessary to determine the
existence and extent of a mineral deposit and to assess its exploitability (or mineability) in economical and
technical terms. This work must be carried out within the geographical area covered by the exploration
permit, pursuant to an exploration plan that the applicant must present to the authorities upon filing the
application for the exploration permit. A properly filed and stamped application for an exploration permit
establishes the presumption that the applicant has a priority over the area covered by the application for the
time period in which the application is subject to review by the competent authorities. However, as
previously reported herein, applications for exploration permits in important areas / projects will rather be
treated as technical bids.
Exploration permits are granted for a period of two or three years, which may be extended for an additional
period (usually for two or three more years, upon application to the DNPM and presentation of technical
justification. Exploration work must begin within 60 days of the issuance of the permit and must not be
suspended for more than three consecutive months or 120 non-consecutive days. The DNPM does not have
the legal power to terminate the license, unless obligations are not fulfilled during the implementation of the
Exploration Plan or legal requirements are not respected.
6
It is the DNPM’s responsibility to supervise all “mineral” (exploration/mining) activities in Brazil, but above
all, the DNPM is interested in encouraging mining development in the country. A permit that is terminated
may be reapplied for. The DNPM must also be advised of any changes to exploration plans, including
interruption of work. Upon completion of exploration, a final report must also be filed stating geological
findings and an assessment of the economic feasibility of the area. The DNPM has the right to inspect the area
to validate the report before accepting it. New licenses will not be issued if a final exploration report is not
filed.
Upon completion of the exploration work, the holder of the exploration permit must produce a Final
Exploration Report and a Mining Plan (in essence, the two reports may be seen as a Feasibility Study) for
review by the authorities. Mining Concessions may only be obtained by corporations. A corporation
normally has one year from receipt of the DNPM’s approval of the exploration report to apply for the mining
concession for the intended area. The application must include a mining plan and an economic feasibility
analysis, which in either case may be prepared by the applicant. The DNPM may request additional
information.
If the Final Exploration Report and Mining Plan (“Plano de Lavra”) Report are approved, and there are no
reasons of public interest dictating otherwise, the authorities will issue a Mining Concession consistent with
the final exploration report and mining plan. After the concession is published in the official gazette, the
mining company has ninety days to request the possession of the mineral lode or deposit to be mined and six
months to start the preparatory work contemplated in the mining plan. This term can be extended for another
six months, once or more, provided there are reasons, such as market restrictions, acts of God, etc. that justify
such extensions. Once mining has started, it may not be interrupted for any period longer than six
consecutive months, unless for the reasons cited above; otherwise, the concession may be revoked.
The mining company is also required to file with the DNPM, annually, detailed statistical reports on the
mine’s performance. Mining concessions are not limited in time and will remain valid until full depletion of
the mineral deposit. Mining concessions can be transferred between parties qualified to hold them. The
Brazilian Federal Constitution states that a transfer of a mining concession requires authorization from the
competent governmental authority. Once a mining concession is granted, the mining company is required to
obtain an operating permit for each mine that is operated. The operating permit is renewed annually subject
to compliance with environmental matters. Mining operations may not start prior to the issuance of the
Environmental Operation License (“Licença Operacional” – LO).
As previously stated herein the obligations to retain any mining property include the preparation and
submittal to DNPM of a detailed Annual Operations Report. In addition, mine and plant must be operated as
per the approved operations plan (“Plano de Lavra”) and per the generally accepted good engineering practice
standards. Furthermore, operations must comply with safety and environmental legislation. Expiration date
of claims, licenses, and other tenure rights – according to the Brazilian Mining Law - coincide with the
termination of the mining operations and legally required post-operations activities (e.g., mine closure),
provided all Annual Reports have been approved by the DNPM.
The mineral rights are distinct from the surface ownership and rights. The property’s surface rights (including
ownership) generally belong to a Third Party (“Mine Landowner”), to whom – in the case of gold mining
operations - a rent and royalty of 0.5% on Net Revenue is due monthly, during the project’s life, starting with
the first gold sale.
During exploration phases, the landowner has also the right to receive income for occupation and indemnity
for surface usage. If there is no amicable agreement between the parties in regards to surface occupation and
usage during exploration, the courts will assign an expert to evaluate damages and calculate the amount of the
indemnity. The maximum amount of indemnity cannot exceed the market value of the used area.
Environmental Plans
7
Applications for mining concessions must include an independently prepared environmental plan that must
address water treatment, soil erosion, air quality control, re-vegetation, reforestation (where necessary), and
reclamation.
Mining concessions will not be granted unless the mining plan, including the environmental plan, is approved
by the state authorities. The mining concession, once granted, will contain terms and conditions which will
include those relating to environmental matters. Terms relating to environmental matters may include
employment conditions for employees working with hazardous materials (such as periodic employee
rotation), a code for mine construction (as may be necessary, for example, to avoid contamination of soil and
ground water, for proper drainage, and to limit erosion), tailings disposal guidelines, procedures and
timetables for re-vegetation and reforestation and the plan for reclamation once mining is completed.
Site visits by governmental authorities to properties where mining concessions have been granted occur on a
regular basis (generally, the frequency of such visits will depend upon the nature of the work being
undertaken and the length of the prior visit) and annual progress or status reports must be submitted by the
mining company that holds the mining concession. Those visits and reports may require a mining company to
adopt changes to the original mining plan based on the recommendations made by governmental authorities.
Failure
to
comply
with
the
recommendations
may
result
in
fines,
damages,
compensation, and imprisonment for officers of the mining company. A mining company’s annual operating
permit may not be renewed if the mining company has not complied with the recommendations, unless
explanations for non-fulfilment are presented, alternatives are offered, or the impossibility to fulfil any preestablished event is demonstrated.
Item 7 - Accessibility, Climate, Local Resources, Infrastructure and Physiography
The Project is located 6 km south of the town of Pitangui – an over-300-year-old historical mining town
founded by the “Bandeirantes” – the gold searchers pioneers of the 16th century. It lies approximately 140 km
northwest of Belo Horizonte. Both roads (from Pitangui and from Belo Horizonte) are paved roads which run
to a very short access to the mining sites in dirt road. The Project includes seven contiguous concessions that
cover an area of 5,337.17 hectares (Figures 1, 2 and 3).
Belo Horizonte is the commercial center for Brazil’s iron ore and gold mining industries and has excellent
infrastructure to support world-class gold and iron ore mining operations. The mining region at broad has
historically produced significant quantities of gold at reasonable costs per ounce from oxide and sulfide ores
mined from open pit and large-scale underground mining operations operated by AngloGold Ashanti, CVRD,
and Eldorado Gold Corporation. The city is a well-developed urban metropolis of almost five million
residents that has a substantial infrastructure including:
•
•
•
•
•
•
•
An extensive network of paved highways
A fully-developed and reliable power grid
Ready access to process water
Two major airports
A large manufacturing base
A skilled workforce
Two large universities and several large hospitals
The climate of the region is classified as pleasant and as having the following characteristics:
•
Winds with low average speed of less than 1 meter per second, predominantly south and southeast
8
•
Annual average temperature slightly above 20ºC
Tropical rainfall ranges between 1,300 millimeters and 2,500 millimeters annually, 84% of which falls during
the rainy season (October to March). The months of December and January present the most intense
precipitation levels.
Air humidity, even in the summer, does not exceed 90% on average, with annual average evaporation of
approximately 934 millimeters.
Item 8 - History
Jaguar acquired the Project from AngloGold Ashanti in September of 2004.
AngloGold Ashanti explored the area extensively between 1979 and 1988 utilizing geochemistry, trenching,
drilling and 3.9 km of underground development. This exploration program led to the discovery of the
following mineralized bodies: Turmalina, Satinoco, Faina and Pontal. During 1992 and 1993, approximately
373,000 tonnes of oxide ore were mined out (open pit), totaling around 35,500 oz Au, produced in a local
Heap Leach CIC - ADR Plant.
Below is a description of the exploration and development activities carried out in three main targets within
the Project: Turmalina, Faina and Pontal.
Underground: 3,865 m of work including the following:
• Turmalina target: 1,460 m (ramp and 2 levels – 640 and 626 - along the strike, 55 and 70 m
bellow the surface). Cross-section of 4.20 m x 4.00 m.
• Faina and Pontal targets: 2,405 m (ramps, galleries and raises). Cross-sections of 3.00 m
x 2.40 m, 2.60 m x 2.40 m, and 1.80 x 1.80m.
• 7,317 m of underground drilling (diameters NQ e BQ).
• 5,498 samples of cores from underground assayed for gold.
• Trial stopping: 17,000 t, by sublevel stopping mining method, in the first level; definition of
critical geotechnical parameters.
Surface:
•
•
•
•
•
•
•
•
18,851 m of surface drilling - (DDH - diameters HQ, NQ e BQ).
11,321 of cores samples from surface drilling assayed for gold.
1,050 m of powered auger drilling.
7,000 m of trenches.
290 km of trails for soil geochemistry.
52 km of geophysical magnetic surveys.
46 km of geophysical IP surveys.
32,871 samples (stream sediment, panning concentrate, soil, outcrop channeling and trenches,
drill hole cores from powered auger drilling) assayed for gold.
The table below shows results from AngloGold Ashanti’s exploration program.
Hole
Coordinates
N
E
FMT-01
7,817,000
512,988
Elevation
(m)
Length
(m)
Azimuth
degrees
Inclination
degrees
709.8
162.75
28
-45
Interval
From (m)
To (m)
Grade
g/t
Thickness
m
121.68
137.50
6.35
15.82
142.28
144.99
17.51
2.71
9
FMT-02
7,817,163
513,020
692.0
132.70
218
-43
FMT-03
7,817,083
513,166
692.5
169.60
205
-59
FMT-04
7,817,092
513,255
694.1
187.70
191
-52
FMT-05
7,817,093
513,255
694.1
212.40
193
-74.5
FMT-06
7,817,130
513,333
694.1
199.70
181.5
-74
FMT-07
7,817,183
512,946
687.5
125.65
209
-44
FMT-08
7,817,191
513,081
688.3
236.80
205
-69
FMT-09
7,817,142
513,201
684.2
239.80
199.5
-80
FMT-10
7,817,134
513,122
694.5
147.90
205.5
-59.5
FMT-11
7,817,115
513,226
688.8
157.55
201
-55
FMT-12
FMT-13
7,817,115
7,817,134
513,226
513,122
688.8
694.5
246.40
241.20
205
220.5
-85
-85
FMT-14
7,817,217
513,207
679.4
318.72
197
-87
FMT-15
7,817,201
513,344
680.8
220.10
154
-84
FMT-16
7,817,119
513,225
689.6
251.70
135.5
-81
FMT-17
7,817,494
513,372
660.0
569.80
219.5
-87
FMT-18
7,818,186
513,439
682.0
204.55
185
-85
FMT-19
7,817,219
513,502
681.0
272.60
179.5
-81
FMT-20
7,817,440
513,517
666.0
582.95
219
-87
FMT-21
FMT-22
7,817,231
7,817,115
513,033
513,296
681.5
699.0
273.20
253.00
208
190
-85
-80
42.85
45.95
1.46
3.10
95.49
97.07
9.96
1.58
73.53
79.52
83.73
74.02
82.17
86.26
4.83
3.44
2.34
0.49
2.65
2.53
102.25
153.07
102.56
155.88
3.60
7.50
0.31
2.81
175.33
176.00
3.78
0.67
2.10
62.18
3.00
62.75
4.11
6.53
0.90
0.57
69.89
76.98
5.26
7.09
156.25
156.69
15.50
0.44
not significant
151.80
78.15
83.84
155.40
78.56
85.54
2.48
6.39
2.07
3.60
0.41
1.70
187.39
196.98
9.31
9.59
200.40
202.30
1.74
1.90
36.65
37.05
3.93
0.40
109.18
115.65
6.90
6.47
13.53
29.35
16.75
30.85
2.73
13.36
3.22
1.50
132.96
136.20
14.97
3.24
57.04
170.76
57.77
172.78
11.71
4.15
0.73
2.02
178.20
180.11
11.27
1.91
62.15
140.08
62.36
141.89
7.94
12.47
0.21
1.81
150.18
157.46
5.39
7.28
256.73
267.93
261.70
273.60
9.91
8.47
4.97
5.67
184.46
56.87
198.88
186.15
58.05
200.40
3.53
4.49
3.77
1.69
1.18
1.52
207.08
207.66
16.44
0.58
539.00
176.00
179.00
544.69
177.24
179.83
3.24
2.65
2.32
5.69
1.24
0.83
185.50
185.99
4.61
0.49
190.50
193.69
7.40
3.19
255.50
255.92
16.91
0.42
263.00
264.07
5.15
1.07
461.68
514.44
465.00
514.87
5.67
2.14
3.32
0.43
539.18
540.52
4.34
1.34
547.91
549.19
5.36
1.28
168.00
21.50
168.30
24.67
3.05
3.67
0.30
3.17
10
35.00
40.05
8.81
5.05
55.00
59.89
7.65
4.89
192.50
193.08
11.98
0.58
222.00
222.94
2.32
0.94
232.00
232.64
4.56
0.64
AngloGold Ashanti carried out metallurgical testing, which included leaching diagnosis via bench scale direct
and concentrates leaching tests. Testing was carried out by the Department of Technological Research of
Mineração Morro Velho Ltda. in Nova Lima, state of Minas Gerais.
The following tests were carried out with material from Turmalina:
The first test was carried out in August 1987, including a 65 kg of mineralization head sample collected from
drill holes. Gold recovery was 91.4% for direct cyanidation (apparently bottle tests) using samples 90%
minus 200 mesh.
The second test took place in August 1992 with material from a drift at level 640. Gold recovery was 90.3%
for direct cyanidation (apparently bottle tests) using samples 90% minus 200 mesh. From May to August
1993, AngloGold Ashanti carried out a number of lab assays and pilot plant tests with a head sample from the
Turmalina mineralization, which was removed from drifts at levels 640 and 626 and amounted to 44.9 tonnes
with an average grade of 5.84 g/t.
The sample was submitted to crushing followed by fine grinding to obtain 90% minus 200 mesh and 100%
minus 400 mesh samples Average gold recoveries were 86% for the minus 200 mesh samples and 93% for the
minus 400 mesh samples. (apparently tank tests).
The ROM obtained from the experimental mining (17,000 t @ 5.24) was treated in 1994 in AngloGold
Ashanti’s Nova Lima Pilot Plant. Operations confirmed the recoveries obtained in the above mentioned tests.
Jaguar is in the process of hiring a metallurgical laboratory to develop fresh test work on a 10 t head sample to
be collected at Turmalina after dewatering of existing underground working is completed.
Item 9 – Geological Setting
The geological setting of the Turmalina Gold Project is very similar to the one of Jaguar’s Quadrilátero Gold
Project, which hosts and has hosted various productive and cost-effective projects, such as AngloGold
Ashanti’s Cuiabá Mine (in operation) and the well-known Mina de Morro Velho (entailing Mina
Grande/Mina Velha). Mina de Morro Velho was the deepest mine ever operated in Brazil (more than 2,000
meters deep). It was also one of the oldest mines in terms of continuous operations worldwide (since 1836
until 2003). The remarkable similarity between the Turmalina Gold Project and the Quadrilátero Gold Project
is due to the fact that both projects lie on the Quadrilátero Ferrífero Rio das Velhas Greestone Belt.
The regional geological setting for the Quadrilátero area has been well documented by Dorr (1969) (4),
Ladeira (1980 and 1991) [(5), (6)], Scarpelli (1991) (7), and Vieira (1991) (8). The following is a brief
synopsis of their work. The area comprises rocks ranging in age from Archean to Upper Proterozoic.
Numerous gold and iron deposits are associated with these rocks.
The gold metallogeny in the Quadrilátero Ferrífero - mainly in its Rio das Velhas Greenstone Belt - has a
complex history. Initially, in the Archean, volcanic exhalative sedimentary processes in the greenstone belt
produced banded iron formation and chert hosted sulfide-rich gold deposits. Shear zone related gold deposits
were also generated at that time.
11
The stratigraphy is as follows from oldest (Archean) to youngest (Upper Proterozoic):
• Tonalities, trondjemite, gneiss basement
• Rio das Velhas Supergroup (Greenstone Belt)
• Espinhaço Supergroup lies unconformably on the Rio das Velhas Supergroup
• Minas Supergroup overlies with tectonic angular and erosional unconformities on the Espinhaço
Supergroup.
• Itacolomi Group overlies with tectonic angular and erosional unconformities on the Minas Supergroup
The Rio das Velhas Supergroup is subdivided into two groups: Nova Lima and Maquiné. The Nova Lima
Group consists of a +4 km thick eugeosynclinal succession including; greywacke, carbonate schist, immature
quartzite, quartz schist, conglomerate, banded iron formation, schistose tuff, graphitic schist, carbonate
chemical sedimentary rock, phyllite, greenschist, and meta-ultramafic rocks. The Maquiné Group consists of
a 1.8 km thick eugeosynclinal molasse including protoquartzite, grit conglomerate, phyllite, greywacke, and
minor basal conglomerate.
Gold mineralization is hosted primarily in a narrow belt of banded iron formation and chemical sedimentary
rocks (chert). The width of the banded iron formation varies from 1 to 30 meters and dips to the east at 25 to
50°. The deposits are dominantly stratabound and are congruently folded and deformed with the host rocks.
The deformation style is thrust fault-related folding with a westerly transport direction on the thrusts,
followed by late east - west trending brittle faults (likely due to post-thrusting extensional stress relief) that
aided in the orientation of quartz lodes and veining.
Item 10 – Deposit Types
The gold metallogeny in the Turmalina Gold Project may be summarized as follows:
Initially, in the Archean, volcanic exhalative sedimentary processes in the Quadrilátero Ferrífero Rio das
Velhas Greenstone Belt produced narrow banded iron formations (BIF) and chert hosted sulfide-rich gold
deposits. Shear zone related to gold deposits were also generated at that time. These first two deposit types
host most of the gold mineralization at Turmalina. The third type of deposit hosts carbonatized mafic schist
within shear zones. These shears are coplanar with the regionally dominant foliation of N350E.
The properties of the Project (Turmalina, Faina, Pontal, and Satinoco), in general, entail all the three types of
“deposits” found in the Quadrilátero Ferrífero. Since the deposit types are essentially different types of
mineralization, it is appropriate to state that the next item of this report (Item 11 – Mineralization) will
provide more details on the three types of gold-bearing mineralization.
Item 11 - Mineralization
An Archean green schist strip exists in the region where the Project is located, which is related to the Rio das
Velhas Supergroup Greenstone Belt that occurs in Quadrilátero Ferrífero. Actually, the Project area lies on an
extension of the aforementioned Greenstone Belt.
The Basement Complex comprises gneisses and frequent fine texture granitic intrusions, and basic dikes.
Over the Basement Complex, basic and ultrabasic volcanic rocks occur, in tectonic contacts, at the lower
level. At the top, a volcanic-sedimentary sequence can be found, which is related to the Rio das Velhas
Supergroup. This rock sequence is locally referred to as the Pitangui Group. Overlaying said sequence,
quartzites showing metaconglomerates at their base occur, in unconform and sometimes faulted contacts.
12
Every so often hematitic phyllites and sericitic, chloritic and carbonaceous phyllites are present, which are
related to the Minas Supergroup.
Covering the aforementioned units, rocks pertaining to the Bambuí Group, such as limestones, sandstones,
slates, as well as clay and silt related rocks occur.
In the gold-bearing areas, green schists stand out. They can be individualized, from base to top, as follows:
•
Meta-ultramafic and metamafic: Characterized by amphybolites, serpentinites, schist-chlorites, and,
secondarily, by schist-talc, metachert, banded iron formation (BIF), and carbonaceous schist.
•
Pyroclastic and metapellites: Represented by volcanic meta-agglomerates at the base and changing
into well-stratified metatuffs.
•
Metasediments: a unit comprising numerous narrow intercalations of quartz-rich schist, chlorites, and
sericite.
The gold-bearing mineralizations are concentrated in the intermediate portion of the Pitangui Group, where
BIFs, amphybolites, volcanoclastic rocks, and fine metasediments occur for the most part.
The Turmalina Target is related to the rocks covering the sequence, which can be described as schists and
biotitic metapellites.
The Faina Target is located in the aforementioned unit, where massive and well-foliated amphybolites
predominate.
The Pontal Target is stratigraphycally located above the amphybolites. It is made of metatuffs and metaagglomerates.
The Satinoco Target is related to alternate layers of BIFs, magnetic-metachert, and carbonaceous chloritic
schists, which are predominant at the base of the mineralized unit.
The mineralized bodies are made of quartz-rich rocks, carbonates, and sulfides. Among the sulfides,
pyrrhotite, pyrite, arsenopyrite, as well as limited concentrations of antimonium sulfides are present. . They
show a yellowish color when weathered. As a result, the mineralized zone was named “amarelito” during the
exploration phase (“amarelo” is the Portuguese word for yellow).
Item 12 - Exploration
Jaguar acquired the Project on September 30, 2004, therefore, the company has not yet performed exploration
related activities in the Project. See Item 8 of this technical report for a description of the exploration work
carried out by the previous owner of the Project, AngloGold Ashanti. In Item 22 – Recommendations, a
Complementary Exploration Program to be carried out by Jaguar is outlined.
Item 13 - Drilling
Jaguar acquired the Project on September 30, 2004, therefore, the company has not yet performed drilling
activities in the Project. See Item 8 of this technical report for a description of the drilling work carried out by
the previous owner of the Project, AngloGold Ashanti. In Item 22 – Recommendations, a Complementary
Exploration Program to be carried out by Jaguar – including drilling - is outlined.
13
Item 14 – Sampling Method and Approach
The author of this Technical report has not been able to find any records related to the sampling method and
approach used by the previous owner. However, AngloGold Ashanti is a well-established and highly regarded
international mining company, known to have excellent technical staffs and there are no facts or information
known to TechnoMine which would make it question whether the work of AngloGold Ashanti complied with
the generally accepted standards of good engineering practice. The author of this report did not carry out
independent sampling. The drill cores are available and stored inside the Turmalina Mine. The author of this
report did not re-log any core and was unable to find channel samples. The author of this report did not carry
out any independent sampling. The drill cores are available and stored inside the Turmalina Mine.
For information purposes the following are the sampling methods and approach currently adopted by
AngloGold Ashanti in Minas Gerais, Brazil:
Channel Sampling
First, the place to be sampled is cleaned with a hoe, exposing the material by scraping it. Next, structures are
mapped, lithologic contacts are defined, and samples are marked so that no sample has more than one
lithology. The samples have a maximum length of 1 m and weights between 1 and 2 kg.
Channel samples are collected at outcrops, ancient excavations and drift walls, trenches, auger and
underground holes. It consists of manual openings of channels, with length ranging from 50 cm to 1 m,
average width between 5 to 10 cm, and about 3 cm deep, using a hammer and a little steel pointer crowned by
widia.
An aluminum tray or a thick plastic canvas is used to collect the material. The sample is then stored in a thick
plastic bag and identified by a numbered label, which is protected by a thin plastic cover and is placed with
the sample.
At the sampling site the samples are identified by small aluminum plates, labels or small wooden poles.
Following, sketches are drawn with lithological and structural information. The samples have their locations
defined by GPS, tape and compass or by theodolite.
Channel sampling spacing at outcrops and ancient open pits varies according to the amount of expositions,
but usually one section is kept every 5 m. Trenches are opened on a regular grid spaced 10 to 20 m. Channel
sampling was made according to a grid with 4 m spacing between sections, covering the entire vertical section
of the gallery.
Diamond Drilling Core Sampling
Drilling workings are carried out by drilling companies with proven technical skills.
only if they have more than 85% of recovery at the ore zone.
Drill holes are accepted
The drill holes executed to evaluate the deposit of fresh rocks have their deviations measured by Tropari and
DDI/Maxbore.
The cores are stored in wooden boxes of 1 m length with 3 m of core per box (H or N diameters) or 4 m of
core per box (B-equivalent diameter). The hole number, depth and place are identified in the boxes by an
aluminum plate (in front of the box) and by a water-resistant ink mark (on its side). The progress interval and
core recovery are identified inside the boxes by small wooden or aluminum plates.
14
During hole description geological information is collected, progress and recovery measures are verified, and
chemical analyses samples are defined. Samples are identified in the boxes by highlighting their side or by
labels.
Samples are cut in the middle, orthogonally to the structure direction that controls the mineralization, with the
help of a diamond saw and a hammer. If the samples were of weathered oxide ore, either a spatula or a spoon
is used to divide and collect the sample. One half is stored in a highly resistant plastic bag, identified by a
laminated label, and the other half is kept in the box at a warehouse.
In the case of metallurgical testing, the stored half is subdivided again. A quarter of the original sample is
stored, while the other quarter is conveyed to the assigned metallurgical laboratory.
The drilling program utilized spaced grids of 20 x 25 m in the oxide mineralization and 25 x 50 m and 25 to
50 x 100 m in the sulfide mineralization.
Sampling intervals are mostly defined in accordance with the key geological control parameters, so that after
lithologic contacts are defined, samples are marked inside each unit, maintaining the dimensions specified
above.
Item 15 – Sample Preparation, Analyses and Security
The author of this Technical report has not been able to find any records related to the sample preparation,
analyses and security procedures used by the previous owner. However, AngloGold Ashanti is a wellestablished and highly regarded international mining company, known to have excellent technical staffs and
there are no facts or information known to TechnoMine which would make it question whether the work of
AngloGold Ashanti complied with the generally accepted standards of good engineering practice.
Item 16 – Data Verification
At the time the exploration services were carried out by AngloGold Ashanti a duplicate analysis was
performed for control for every set of 20 samples. In addition, duplicate analyses were performed whenever a
sample would yield a gold grade higher than 3 g / t.
Item 17 – Adjacent Properties
In this item potential areas within the property boundaries will be addressed along with information on
adjacent properties.
The Turmalina Gold Project (formerly known as Pitangui Project) was first developed by AngloGold Ashanti.
The Project includes the Morro da Turmalina, Main and Southeast Satinoco, and Faina and Pontal Targets.
The mineralization found in the Morro da Turmalina and Satinoco Targets are nonrefractory, while
mineralization found in the Pontal and Faina Targets are refractory. AngloGold Ashanti’s exploration
program identified several anomalies near the main band where the cited targets are located.
The following anomalies are worth noting: Penha, Cruzeiro, Barroso, Boa Vista, Caxingó, Itamar, and others,
which are hosted by metasediments of the upper unit of the Greenstone Belt and related to low sulfide qurtz
masses. Exploration work on these anomalies was restricted to a few trenches and channel sampling. Such
work was not sufficient to evaluate mineralization resources. However, this region was mined by the
Bandeirantes.
15
Additional potential can also be found in the extension northeast of Turmalina, between the targets Main and
Southeast Satinoco, , as well as in a sulfide and quartz-rich massses shear structure developed over schist
chlorite, that occurs South/Southeast from the Satinoco structure, where drill holes indicated presence of gold
mineralization (holes STN-02, 04 and 05).
AngloGold Ashanti also evaluated, via exploration work, placer deposits along the São João River. 451.600
m3 @ 0,252 g/m3 were estimated using Banka drilling. The author of this report did not access any document
supporting the above piece of information.
All the information contained in this Chapter is not necessarily indicative of additional mineralization in the
Turmalina Gold Project. In compliance with NI 43-101, it must be stated that the mineralization of the
adjacent properties are distinct from those of the property being addressed in this report.
Item 18 – Mineral Processing and Metallurgical Testing
Jaguar acquired the Project on September 30, 2004. Therefore, the company has not yet performed mineral
processing and metallurgical testing in the Project. However, the company is right now in the process of
hiring a metallurgical laboratory to develop fresh testwork on a 10 t head sample to be collected at Turmalina
after dewatering of existing underground working is completed. See Item 8 of this technical report for a
description of the mineral processing and metallurgical work conducted by the previous owner of the Project,
AngloGold Ashanti.
Studies being currently carried out by TechnoMine with the support of MSOL point to the following process
route: Primary, secondary, and tertiary crushing to reduce a F80 = 12” to a P80 = 3/8”. Primary, secondary,
and possibly tertiary grinding (depending on the results of Bond Wi tests) to reach either 200 mesh
(alternative 1) or 400 mesh (alternative 2), depending on the results of leaching tests (recovery and required
leaching time essentially).
The above testwork along with kinectic carbon adsorption tests will support the decision to go for a CIL or
CIP plant. Loaded carbon will undergo Acid Wash, and Stripping (AARL or Zadra)/Electrowinning (closed
circuit). Cathodes will supply gold for smelting to obtain bullion. A Carbon Regeneration Circuit is also
envisioned.
Item 19 – Mineral Resource Estimates
Inferred resources estimate amounts to 1,100,000 tonnes of grading 5.88 g/t, containing about 203,000 oz of
gold. The figures for contained gold are in-situ mineral resources.
The following criteria and procedures were used to review AngloGold Ashanti’s original mineral resource
estimates, aiming at categorizing them, to the best possible extent, in accordance with the NI 43-101.
First, mineralized bodies were delimited (area and average grade) in horizontal planes (HP). The HP
elevations were defined as closely as possible to the drill intersections available.
16
1-a - HP-630 m: defined by AngloGold Ashanti underground channel sampling, which was took
place at elevations 626 and 640 (Turmalina Mine).
1-b - HPs-500 and 400 m: defined by AngloGold Ashanti’s drilling programs, using the drill lines
which intercept the mineralizations nearest to these elevations.
Second, drill holes were projected following the plunge in defined horizontal planes and the mineralization
body envelope was defined applying a 2 g/t low cut-off and 30 g/t high cut-off. The mineralized body areas
were measured in such horizontal planes, while grades were calculated utilizing the weighed grade average of
the mineralized intervals determined.
Third, resource tonnage was calculated by the product of Mineralized Area x Density (2.70 t/m3) and the
difference between elevations. Calculations of the difference between horizontal planes used the “area of
influence” method: half-distance between planes
Fourth, Measured Mineral Resources were calculated in the Turmalina principal mineralized body. These
resources are situated between the surface (elevation 690 m, corresponding to the AngloGold Ashanti
previous open pit bottom) and the 350 m elevation. They are supported by influence areas directly generated
by drill lines.
Fifth, Indicated Mineral Resources were estimated in the Turmalina NE mineralized body, which is situated
between the surface (elevation 670 m) and the 465m plane, that is related to an influence area supported by a
drill line.
Sixth, mineralization continuity has been proved in deep drills and the corresponding pieces of information
were used to evaluate the Inferred Mineral Resources.
Seventh, core and channel fire assay chemical analyses were carried out by AngloGold’s laboratory in Nova
Lima, MG.
Based on his due diligence efforts, the author of this Technical Report considers the resource estimates
presented in Table 19-1 below to be in compliance with the criteria set forth by NI 43-101 for historical
estimates.
TABLE 19-1: SUMMARY OF MINERAL RESOURCES AS OF SEPTEMBER 30, 2004
RESOURCES (tonnage and grades)
Measured
g/t
Indicated
g/t
(Measured +
(t)
(t)
Indicated)
g/t
Inferred
(t)
g/t
RESOURCES (oz Au)
(Measured
Inferred
+Indicated)
Non-Refractory Mineralization
Turmalina – Main Target
Turmalina – NE Target
Total Estimate Non-Refractory
Mineralization
1,356,750
5.89
287,820
5.93
1,190,786
5.70
1,356,750
287,820
1,644,570
5.89
5.93
5.90
659,340
294,840
954,180
5.89
5.93
5.90
1,530,387
5.69
119,961
5.70
257,108
54,880
311,988
124,872
56,219
181,090
279,945
21,998
Refractory Mineralization
Faina and Pontal Targets
339,601
In Situ Resources:
Total Estimates
5.64
RESOURCES (tonnage & grades)
Measured +
g/t
Inferred
g/t
Indicated
3,174,957
5.80
1,074,141
5.88
RESOURCES (oz Au)
(Measured
Inferred
+Indicated)
591,933
This document is in compliance with National Policy NI 43-101 and is a Technical Report to disclose the
current Mineral Resources encompassed by the Project. Most of the data used to determine current
mineral resources were obtained from historical reports (so far the Project’s properties were studied,
17
203,088
explored, and operated prior to NI 43-101), whose resource estimates were reviewed, verified, and
sometimes reinterpreted under TechnoMine’s auspices, aiming to place them – to the possible extent - into
NI 43-101 compliant categories.
Please refer to Figure 4.
Item 20 – Other Relevant Data and Information
Not applicable.
Item 21 – Interpretation and Conclusions
Table 19-1 shown in Item 19 herein (Mineral Resource Estimates) portrays, to the best knowledge of the
author of this Technical Report, the diverse categories of resources (Measured, Indicated, Inferred) pertaining
to the Project
Inferred resources estimate amounts to 1,100,000 tonnes of grading 5.88 g/t, containing about 203,000 oz of
gold.
The figures for contained gold are in-situ mineral resources.
Item 22 - Recommendations
It is TechnoMine’s and the author’s recommendation that Jaguar should proceed with the Complementary
Exploration Program summarized below (the Complementary Exploration Program began in December,
2004), as well as with the preparation – at a proper pace - of a consolidated Feasibility Study for the
implementation and operation of the Turmalina Gold Project, within design criteria, plans, processes, and
schedules compatible with good engineering practices and standards. The project is adequately mature to
move to a full-blown feasibility stage, to be accomplished in parallel with the Complementary Exploration
Program. The geological, metallurgical, and previous operations data available are sufficient to move
immediately towards the start of a Bankable Document. The Feasibility Study will consolidate technical
information and establish the definitive process route and mining plan. It will also determine the economic
metrics of the Turmalina Gold Project. As commonly practiced, a Complementary Exploration Program is
recommended to be carried out during the execution of the Feasibility Study to both increase the project’s
resource base and to upgrade mineral resources categories. Likewise, in addition to extensive testwork
already carried out in the area, supplementary metallurgical tests (e.g., determination of Bond Work Index for
mineralization located at levels deeper than the one where samples were probably collected for previous Wi
determinations; state-of-the-art leaching and adsorption kinetics tests) are also recommended to take place in
parallel with the elaboration of the Feasibility Study. This additional metallurgical information will support
the fine-tuning of the grinding mills section design and provide data for a sound decision between a CIP or
CIL plant.
18
TechnoMine and the author of this Technical Report recommend a Complementary Exploration Program, as
outlined below, aiming to both upgrade mineral resource categories and increase the overall project’s resource
base. The Complementary Exploration Program shall include surface diamond drilling (7,000 m), as well as
the development of additional underground workings (drifts – 200 m). The diamond drill holes will be carried
out mostly in the Turmalina Target and abutting areas, in a drilling grid of 30 m x 100 m. The drifts will have
a 3.0 m x 2.4 m cross-section.
Finally, TechnoMine and the author of this Technical Report also recommend that dewatering of existing
underground workings start as soon as possible, to make it feasible the sampling of mineralization for the
required supplementary metallurgical testwork.
The following are the total estimated budgets for the recommended work:
¾ Complementary Exploration Campaign: US$ 1,000,000. This includes chemical analyses and core
descriptions. The program consists of 7,000 m of drilling (at an estimated total cost of US$ 100 / m)
in 35 diamond drill holes and 200 m of underground development (at an estimated total cost of US$
1,500 / m). The program started in December 2004.
¾ Mine dewatering: US$55,000. This includes safety and drifts cleaning.
¾ Supplementary Metallurgical Testwork and Analyses:
testwork, sampling and chemical analyses.
US$45,000. This includes metallurgical
¾ Preparation of the Feasibility Study: US$ 700,000.
The total budget for the recommended complementary exploration, supplementary testwork, and the
preparation of the feasibility study is US$ 1,800,000.
Item 23 - References
(1) Machado, I.C. – (First) Due Diligence Report on the Quadrilátero Gold Project. TechnoMine Report
dated September 30, 2002.
(2) Machado, I.C. - Potential Resource Base Increase due to possible depth continuity of mineralized bodies.
Study prepared by TechnoMine for Jaguar Mining, Inc. - October 29, 2002.
(3) Machado, I. C., Mining and Mineral Processing Technologies. Industrial Sector Analysis prepared for the
United States Department of Commerce – Commercial Service – Belo Horizonte, Brazil. December 02, 2001
Revision. 42 p.
(4) Dorr, J.V.N., II, 1969. Physiographic, stratigraphic and structural development of the Quadrilátero
Ferrífero, Minas Gerais, Brazil. U. S. Geol. Survey Prof. Paper 641-A, 110 p.
(5) Ladeira, E.A., 1980. Metalogenesis of Gold at the Morro Velho Mine and in Nova Lima District,
Quadrilátero Ferrífero, Minas Gerais, Brazil. University of Western Ontario, Unpublished Ph.D. Thesis,
London, Ontario, Canada: 272 p.
(6) Ladeira, E.A., 1991. Genesis of gold in Quadrilátero Ferrífero: A remarkable case of permanency,
recycling and inheritance - A tribute to Djalma Guimarães, Pierre Routhier and Hans Ramberg. In Ladeira,
E.A., ed., Proceedings of Brazil Gold '91. An International Symposium on the Geology of Gold: Belo
Horizonte, 1991: A.A. Balkema, Rotterdam, p. 11-30.
19
(7) Scarpelli, W., 1991. Aspects of gold mineralization in the Iron Quadrangle, Brazil. In Ladeira, E.A., ed.,
Proceedings of Brazil Gold '91, An International Symposium on the Geology of Gold: Belo Horizonte, 1991:
A.A. Balkema, Rotterdam, p. 151-158.
(8) Vieira, F.W.R., 1991. Textures and processes of hydrothermal alteration and mineralization in the Nova
Lima Group, Minas Gerais, Brazil. In Ladeira, E.A., ed., Proceedings of Brazil Gold '91, An International
Symposium on the Geology of Gold: Belo Horizonte, 1991: A.A. Balkema, Rotterdam, p. 319-326.
Item 24 - Date
The effective date of this Technical Report is December 20, 2004, as indicated in its title page and in the
Certificate of Author.
Item 25 – Additional Requirements for Technical Reports on Development
Properties and Production Properties
Not Applicable.
Item 26 - Illustrations
26.1
List of Figures
Figure 1:
Figure 2:
Figure 3:
Figure 4:
Figure 5:
26.2
General Location Map
Turmalina Target – Mineralization Projection
Turmalina Target: Schematic Vertical Section
List of Pictures
Picture 1:
Picture 2:
Pictures 3, 4:
Open access ramp
Old open pit
20
21
Figure 2
22
Figure 3
23
24
25
Picture 1:
Picture 2:
Opened access ramp
26
Pictures 3 and 4:
Old open pits
27
28
29

turmalina gold project

Transcription

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