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Boa Vista Gold Project
Tapajós Gold District, Pará, Brazil
The Boa Vista Gold Project in Brazil’s Tapajos Gold District offers Australian Mines bulk- tonnage open-pit gold potential with record drill intercepts and a historical 336,000 oz resource.
Australian Mines has an earn-in option to acquire up to 80% of the Boa Vista Gold Project. Located in Brazil’s proven Tapajós Gold District, Boa Vista is emerging as a compelling gold opportunity, with drilling returning broad, near-surface mineralised intercepts of up to 85 metres, defining new high-grade zones and highlighting the potential of multiple targets across the project area.
Supported by a historical resource and excellent metallurgical recoveries, Boa Vista presents a clear pathway for resource growth and subject to further studies may define a scalable bulk-tonnage gold operation. Mineralisation remains open in multiple directions and, with only limited drilling completed to date, the project offers significant exploration upside and clear potential to expand known mineralisation and define additional resources across multiple targets.
Boa Vista is situated within the highly prospective Tapajós Gold Province, a region that has historically produced more than 30 million ounces of gold and is characterised by intrusion-related and structurally controlled gold mineralisation, with widespread hydrothermal alteration and fertile granitoid host rocks. The district hosts several operating mines and advanced development projects, including G Mining Ventures’ Tocantinzinho gold mine, Serabi Gold’s Palito and Coringa operations, and GoldMining’s São Jorge project. The presence of these deposits highlights the scale and fertility of the regional mineral system and supports the potential for additional discoveries within favourable structural and lithological settings.
Boa Vista Gold Project
Pará, Brazil
Located approximately 350 km south of Itaituba in Brazil’s Tapajós Gold Province, the Boa Vista Gold Project comprises three exploration permits covering approximately 9,201 hectares (92 sq km).
Key Project Highlights
336,000oz
Historical inferred gold resource at VG1 (NI 43-101)
195.3 g.m
Record gram-metre intercept, strongest at Boa Vista to date
9,201 ha
District-scale landholding with multiple targets
> 95%
Metallurgical recoveries, up to 60% via simple gravity method
Foreign Estimate Disclaimer
The historical estimate is a foreign estimate and is not reported in accordance with the JORC Code (2012). A competent person has not done sufficient work to classify the foreign estimate as Mineral Resources or Ore Reserves in accordance with the JORC Code, and it is uncertain that further evaluation and exploration will result in an estimate reportable under the JORC Code. Gram-metres are a comparative exploration metric and do not represent true width or economic viability.
Project Advantage
| Category | Detail | Description |
|---|---|---|
| Resource | Historical resource | NI 43-101 inferred resource of 8.47 Mt @ 1.23 g/t Au for approximately 336,000 oz at VG1 (0.5 g/t cut-off), with mineralisation open in multiple directions. |
| Drilling | Recent drilling | Broad gold intercepts with higher-grade internal zones, including record drill results that extended mineralisation at depth and along strike. |
| Metallurgy | Initial test work | Gold recoveries exceeding 95%, with up to 60% recovered through simple gravity methods and no deleterious elements identified. |
| District | Tapajós Gold Province | Located in a prolific gold district that has historically produced more than 30 Moz of gold and hosts several operating mines and advanced development projects. |
| Upside | Multiple targets | VG1 remains open in multiple directions, with additional upside supported by numerous targets defined by coincident garimpeiro workings, geophysical anomalies and gold-in-soil trends across the broader project area. |
| Ownership | Earn-in structure | Australian Mines has the option to acquire up to an 80% interest in the project under a staged earn-in arrangement. |
Key Value Drivers
- Further drilling demonstrating resource growth and continuity at VG1
- New Discoveries across multiple targets
- Maiden JORC resource estimate incorporating new drilling
- Metallurgical test work supporting strong recoveries
- Progression toward preliminary development studies
Tapajos Gold Province
A Tier One Gold Jurisdiction
The Boa Vista is ideally located in the prolific Tapajos Gold Province in Northern Brazil, with a history of over 30 Moz Au production and multiple active producers and projects. Boa Vista's VG1 prospect has a historical inferred resource of 8.47Mt @ 1.23g/t Au for 336Koz (cut-off 0.5 g/t au)^1,2 Regional Key Gold Plays and Market Cap
- Tocantinzinho^3,7 - GMin – MC 5.39B CAD
- Sao Jorge^4,7 - Gold Mining – MC 340.4M CAD
- Cuiu-Cuiu^5,7 - Cabral Gold - MC 127.04M CAD
- Palito/SaoChico/Coringa - Serabi Gold MC 168.9M GBP
- Castelo de Sonhos – TriStar Gold – MC 49.72M CAD
Drilling Highlights
| 142.6m | @ 1.37 g/t Au, including 29m | @ 3.22 g/t Au (VGADD0010) |
| 120m | @ 1.34 g/t Au, including 16m | @ 3.53 g/t Au (VGADD0002) |
| 82.9m | @ 0.96 g/t Au, including 27.9m | @ 1.76 g/t Au (VGADD0003) |
| 144m | @ 0.62 g/t Au, including 54m | @ 1.15 g/t Au (VGADD0001) |
| 102.3m | @ 1.18 g/t Au, including 72m | @ 1.53 g/t Au (VGDD001, historical) |
| 78m | @ 0.97 g/t Au, including 20m | @ 2.36 g/t Au (VGD-009-11, historical) |
| 104.5m | @ 1.59 g/t Au, including 23m | @ 4.51 g/t Au (VGD-011-12, historical) |
Boa Vista – Targets
Exploration at Boa Vista indicates that gold mineralisation is associated with a favourable granodiorite host and structurally controlled corridors within the broader Tapajós Gold Province. Radiometric and geophysical interpretation suggests the most prospective areas are concentrated around the VG1 trend and a number of satellite targets, while parts of the southeastern tenure appear less favourable where syenogranite dominates.
Beyond VG1, Australian Mines has identified a pipeline of additional targets supported by artisanal workings, geochemical anomalies and geophysical signatures. Baixão is particularly encouraging, with grab samples up to 29.4 g/t Au, a continuous gold-in-soil anomaly along an interpreted shear zone, and geophysics indicating potential strike continuity over more than 1.2 km toward VG1. Jair also stands out, with grab samples up to 11.1 g/t Au, anomalous soils and structural/geophysical support along a northeast-southwest trend. Pistinha has returned grab samples up to 21.7 g/t Au from artisanal workings, while Zé do Leicha shows anomalous soils, positive chip samples and structural support along a favourable corridor. Together, these targets highlight broader district-scale discovery upside across the Boa Vista project area.
- 11 grab samples collected (up to 29.4 g/t);
- Soil is continuously anomalous along a W–E trend (likely a shear zone – up to 0.18 g/t);
- No drilling conducted.
- 3 DDH executed (total of 293.40 m);
- No assays available;
- 6 grab samples were collected (up to 11.1 g/t);
- Soil is continuously anomalous to the south (up to 0.91 g/t).
- 1 DDH executed for 149 m – no assay is available;
- 5 grab samples were collected in the surroundings (up to 5.6 g/t);
- Most of the soil samples over the target are anomalous (up to 0.66 g/t), showing a continuously NE–SW trend (>800m strike length potential).