carajas copper exploration update ..., page-60

redge I dont usually respond to your posts as you are very one sided. No one is saying you can't have a different opinion. You stated the following in a prior post.

"Don't forget that these areas have been drilled before to depth at least a couple of times--nothing worthwhile below 100mrts--Barrick was one I believe"

Well just to clear things up lets see how much drilling has really been done on Rio Verde and Serra Verde. From the prospectus see below. I have bolded the important words for your viewing pleasure.

"Rio Verde comprises a single rectangular mineral license measuring approximately 10 km by 9.5 km. There are seven defined prospects on the project, namely Antas South, Antas North, BIF, Clovis, Capivara, Lazinho and Paulinho(see Figure 3). The first modern exploration of Rio Verde was conducted by Barrick in 1999. This included geological mapping, stream sediment and soil sampling, geophysical surveying and limited reverse circulation and diamond drilling. In 2001 Noranda Inc. conducted further exploration including trenching, petrographic studies, geophysical surveying and diamond drilling. A total of 57 reverse circulation and diamond core drill holes have been completed on the Rio Verde property, for approximately 13,000 metres. Best drilling results were returned from the Antas North prospect, where ten holes were drilled to evaluate a soil anomaly that measures 700 metres long by 200 to 400 metres wide. Results from drilling include:

49.3m at 2.40% Cu and 0.40g/t Au from 76 metres
19.4m at 1.63% Cu and 0.43g/t Au from 125 metres

This high-grade mineralisation at the Antas North prospect remains open at depth and along strike. It is a high priority target for further drilling"

and Serra Verde..

"The Serra Verde property is a 10km by10km tenement located 2km north of the Rio Verde property (see Figure 2 and 3). The first modern exploration on the Serra Verde property was conducted by Barrick in 1999. This included geological mapping, stream sediment and soil sampling, geophysical surveying and a limited drilling programme. Extensive soil geochemical anomalies were delineated over much of the Serra Verde Project (see igure 4A-4D in Section 7). Barrick delineated three dvanced prospects, the Garimpo Serra Verde, Alagoano and Pedro prospects. The Garimpo Serra Verde prospect comprises an historic shallow open pit that measures approximately 250m x 50m x 30m. Barrick undertook channel sampling in the base of this pit with highly encouraging results returned including:

20.0m at 3.28% Cu and 0.30g/t Au
14.0m at 3.35% Cu and 2.50g/t Au
6.5m at 21.1% Cu and 10.9 g/t Au
4.5m at 16.5% Cu and 4.10 g/t Au
4.3m at 8.92% Cu and 48.4 g/t Au
9.6m at 3.44% Cu and 3.29 g/t Au
9.0m at 5.81% Cu and 2.48 g/t Au

Barrick also completed a shallow, broadly spaced, five hole drilling programme at the Garimpo Serra Verde prospect (for 1,250 metres). Results of drilling included:

20.5m at 0.61% Cu and 0.14g/t Au from 109 metres
12.5m at 0.97% Cu from 4.7 metres

The high-grade mineralisation at the Garimpo Serra Verde prospect is interpreted to be structurally controlled. The Company will target further high grade mineralisation at the Garimpo Serra Verde prospect by conducting a review of the geology and structural controls on mineralisation prior to commencing further drill testing.

Two abandoned garimpeiro (artisan) shafts are located at the Alagoano prospect. The two shafts are located within a 1,500 metre long soil anomaly. Garimpeiros mined copper ores (chalcocite and chalcopyrite) from a WNW trending vein. In November 2005 Apoquindo Brazil Mineracao drilled five holes at Alagoano (for 568 metres). Extensive low grade copper mineralisation was intersected in all holes. Further evaluation of this prospect will be undertaken.

An extensive copper in soil anomaly at the Pedro prospect will also be investigated. This NW-SE trending soil anomaly extends over 2,500 metres of strike and connects with the open pit at the Garimpo Serra Verde prospect. No drilling of this extensive zone has been undertaken."

Then a little more info on previous exploration in the prospectus..

"Over a 16 month period Barrick conducted regional and detailed geological mapping, a regional stream sediment survey, a topographic survey, soil sampling, airborne and ground geophysics, as well as auger, RC and diamond drilling. Barrick identified seven areas of ineralisation, the Antas South, Antas North, Capivara, Clovis, Lazinho, Paulinho and BIF prospects. Five of these prospects were evaluated with drilling, with 20 shallow iamond and reverse circulation holes drilled for a total of 2,777 metres. Significant interceptions in drilling are set out in Table"

Based on the size of the licenses there has been very minimal work done. Feel free to read through the prospectus.


Link to Prospectus

Also don't forget that Vale are going to start drilling Trindade North soon. Oh thats probably worth nothing too?