Brazil Resources Inc. is a mineral exploration company focused on acquiring and developing projects in emerging producing gold districts in Brazil and other parts of South America. Currently, the company is primarily concentrated on its Montes Áureos property located in the State of Maranhão, Brazil, within the Gurupi gold belt. Brazil Resources is also seeking to acquire and develop additional gold properties within Brazil and other parts of South America.
The company’s executive team and directors have established a proven track record in raising capital in the resource sector, and its technical team has been involved in the discovery and development of more than 10 million ounces of gold in Brazil. All projects are accessible by road and have abundant access to water, electricity and local labor with nearby towns. Additionally, as a premier mining jurisdiction, Brazil is known for low tax rates and a stable political climate that encourages foreign investment.
Brazil Resources’ 23,643-acre Trinta Project in Maranhão State, Brazil has distinctive structural features that are consistent with the regional geology of the Gurupi
Gold Belt. The company plans to conduct an initial exploration program that includes geological mapping and geochemical reconnaissance sampling over the entire property as well as detailed soil sampling/auger drilling over selected areas. The initiative is in addition to a previously announced $1.7 million exploration program on its Montes Áureos Gold Project within the same region.
The Gurupi Gold Belt is an underexplored and emerging geological region that hosts several million ounces of gold resources within 100 km of the company’s projects. The Gurupi Gold Belt is believed to be part of the same geological structure as the West African Shield, which has produced millions of ounces of gold production. Recognized mining companies, including Kinross Gold (NYSE: KGC), Jaguar Mining (NYSE: JAG) and Luna Gold (TSX: LGC), are active in the area.
As of August 10, Brazil Resources had a cash position of $7.1 million. Management and insider ownership is approximately 35% of the outstanding shares, with institutional ownership accounting for about 25%. With a clear strategy of development in place and strong financial resources to draw from, the company is well positioned to execute comprehensive exploration programs and further develop its portfolio of promising projects.
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