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BIG RIVER GOLD LTD - Corporate Spotlight

Big River Gold Limited (ASX:BRV) is a specialised minerals exploration and development... Big River Gold Limited (ASX:BRV) is a specialised minerals exploration and development company focused on advancing its wholly owned Borborema Gold Project in Brazil. With over 14 years’ in-country experience, Big River Gold has forged a reputation in the Brazilian mining community as a company which understands the local environment and can successfully develop projects.More

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Corporate Spotlight

Big River Gold Limited (ASX:BRV) is a specialised minerals exploration and development company focused on advancing its wholly owned Borborema Gold Project in Brazil.
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Mica Testwork & Company Updates with BRV


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Big River Gold Initiating Research Report

Published by Pitt Street Research - 12th February 2020

This report has been commissioned and paid for by Big River Gold Ltd (Company) and has been prepared by Pitt Street Research, an Authorised Representative of BR Securities Australia Pty Ltd. The report solely reflects the views of Pitt Street Research.

Any opinions, forecasts, recommendations or forward-looking statements in the report reflect the judgement and assumptions of Pitt Street Research at the date of publication of the report. The Company does not endorse the findings or contents of the report, including any price target, earnings forecast or other statement about the Company’s prospects, and will not be responsible for any loss or damage arising in any way from errors, omissions or misstatements in the report or the use of, or reliance on, the report in any way.

To view the report, visit Pitt Street Research here: https://www.pittstreetresearch.com/big-river-gold 

Click Here to View Big River Gold's Forum on HotCopper.


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ASX Announcement 10/02/2020

Big River Gold Ltd (ASX: BRV) (Company or Big River) hosted an opening ceremony at the Borborema

Gold Project in north–eastern Brazil which coincided with the centenary of the nearby city of Currais


The Company was able to host the Governor, Prof Maria Fàtima de Bezerra, and Deputy Governor of

Rio Grande do Norte, Snr Antenor, the Mayor and Deputy Mayor of Currais Novos and several

business, political and community dignitaries.

The opportunity was taken to show them and the accompanying media around the project including

the proposed sites for the plant and pit which are also shown in the video which will be posted to the

Big River website.

The support of the State Government, local authorities and the community will be important to the

success of the Borborema Project and it was also an opportunity to reinforce the importance of the

project to the region and local economy whereby:

  • The operation will employ 375 personnel both directly and indirectly with additional services
  • and contractors required from the local area;
  • R$430 million (US$105 Million) will be spent in construction – about 65% of that will be
  • sourced from within Brazil;
  • R$11 million (US$2.7 million) will be spent in wages each year, and
  • R$190 million (US$46 million) will be spent in operating costs each year, much of which will
  • be within the region.

About Big River Gold

Big River Gold Ltd (ASX:BRV), is a mineral exploration and development company listed on the Australian Securities

Exchange. Its major focus is the Borborema Gold Project in Brazil; a country the Company believes is underexplored

and offers high potential for the discovery of world class mineral deposits.

Borborema Gold Project

Borborema is a project with a resource of 2.43Moz gold, located in the Seridó area of the Borborema province in

north-eastern Brazil. It is 100% owned by Big River and consists of three mining leases covering a total area of 29 km2

including freehold title over the main prospect area.

The Project benefits from a favourable taxation regime, existing on-site facilities and excellent infrastructure such as

buildings, grid power, water and sealed roads. It is close to major cities and regional centres and the services they can


Click Here To Read The Full Announcement


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ASX Announcement 12 November 2019 


  • Mica has been identified as a potentially significant commercial opportunity for the Borborema project. 
  • Initial analysis and testwork has been positive and supported entering into a more definitive stage of enhancement and commercial testwork. 
  • It is expected that mica may be recovered at a low cost from the tails to provide saleable products comprising both a high quality coarse grained phlogopite mica and a bulk concentrate. 
  • The Borborema Definitive Feasibility Study (DFS) continues to consider a gold only plant and operation, and will be completed in Q4, 2019. 
  • The DFS and plant can be updated subsequently at low cost if required after results from the mica enhancement testwork and marketing analysis are received. 
  • Big River continues to focus on procuring debt funding to fund construction of the Borborema Project as soon as possible.

Big River Gold Ltd (ASX: BRV) (Company or Big River) wishes to advise that the Definitive Feasibility Study (DFS) for the Borborema Project is progressing well and is on target for completion this quarter. Finalisation of tenders from equipment suppliers and contractors along with preparation of documentation is being undertaken to complete the DFS.

The Company also wishes to advise shareholders that arising from the studies being managed by Wave International (Wave), an opportunity has been identified that could see significant additional upside from the Borborema Project by way of credits from the sale of mica as a separate commercial product.

Mica at Borborema – Initial testwork on possible commercial by-product 

As noted in previous Company announcements, there is abundant mica in the mineralised shear system, both within the schistose ore zone and the surrounding host rocks. The mica comprises up to 30% of the mill feed and carries about half the gold grade. Gold recoveries of 93% to 95% have been obtained in testwork for whole of ore processing using conventional methods. 

The mica will be processed via the standard milling and CIP/CIL circuit after which it will be dewatered and detoxified as part of the tailings treatment. At this stage the mica could be recovered from the tails through flotation, with or without gravity or magnetic separation, for minimal additional cost as most of the treatment costs will be incurred in recovering the gold.

Early analytical testwork undertaken by Nagrom Pty Ltd in Perth, WA has been encouraging in identifying potential saleable products, in particular a high quality phlogopite1 product in which: 

  • Concentrate produced in initial tests was not yet pure and saleable product needsto be >90% 
  • Good crystallinity and particle size were indicative of a good product. 
  • Brightness value was relatively low and testwork is focussed on improving it for a higher sale price.

The world market for this type of mica product is estimated to be 300,000 to 500,000 tonnes per annum at prices above several hundreds of dollars per tonne with larger flake sizes attracting higher prices.

In addition, a muscovite-rich bulk concentrate could be produced for which the global market is approximately 3 million tonnes per annum with prices around several hundreds of dollars per tonne

Click here to view the full announcement


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Mica Testwork & Company Updates with Andrew Richards, Big River Gold - February

Borborema Project Updates with Andrew Richards, Big River Gold - January

(20min delay)
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