Canada-based Matador Exploration Inc. has started exploration as part of its option to earn an 80% interest at the Bom Jardim Project in Pará State, Brazil. The Bom Jardim Project is similar to the Tapajós area, Brazil’s most prolific gold producing region.
Over 6 million ounces of gold have been produced in Tapajós from alluvial workings and, more recently, multi-million ounce bulk-minable epithermal deposits have been identified.
Previous reconnaissance exploration at Bom Jardim has confirmed the geological similarities to the Tapajós area and has identified anomalous gold concentrations in stream sediments associated with outcroppings of felsic volcanic rock displaying epithermal-style alterations coincident with the target structures.
Matador has retained the services of Geoimagem S/C Ltda. of São Paulo, Brazil and Dr. Caetano Juliani, who is a Professor at the Institute of Geociências of the University of São Paulo and an expert on the Tapajos-Iriri area geology, to provide technical and logistical support for the program.
The work will comprise regionally comprehensive stream sediment, soil and rock geochemistry and a reconnaissance level geologic evaluation of the 25,437 hectare property.
Mr. Dean Besserer, P. Geol., of Apex Geoscience Ltd., Edmonton, Alberta, has also been retained to participate in the exploration program and to provide an independent valuation report as part of Matador’s due diligence.
Mobilization of support staff into the Bom Jardim area has commenced and Phase I of a technical program led by Mr. Peter Kleespies, Vice President of Exploration for the company, is scheduled from April 12 through April 24, 2005. A more comprehensive Phase II program is anticipated to commence during June 2005.
The company is continuing its search for other opportunities in Brazil and Western Australia, including the evaluation of the option to earn a 50% interest in the Coolgardie Gold Camp with Austminex Ltd., of Western Australia.
Matador Exploration Inc.
www.matadorex.com
Business Wire