64,000 oz. of gold was reported by prior owner in their filings with the Brazilian mining department, following extensive geological research.
At the time, gold was priced at about one-fifth of today’s price, and therefore any cutoff for economic feasibility may substantially improve.
Only ~2% of the total area of the Alpha Project has been researched in detail by a prior owner, and only its saprolite and colluvial layers.
No systematic drilling has been conducted in the rock directly underneath the saprolite and colluvial layers which have shown free gold at average of 1.5 g/t.
In Q2 2020, an application for an initial commercial license for exploration of free gold from saprolite and colluvial layers has been filed with the Brazilian mining department.
The Company continues its exploratory research in this project and advancement to a mining operation.
