Location: State of Minas Gerais, Brazil
Area: 28,167 acres
- 64,000 oz of gold was reported by prior owner in their filings with the Brazilian mining department, following extensive geological research;
- Jupiter Gold’s own exploratory work to verify and expand the prior findings is ongoing;
- Jupiter Gold has retained top geological consultancy GE21 to advise in its progress with the Alpha Project;
- Jupiter Gold’s initial NI 43-101 for the Alpha Project expected in the first semester of 2020.
- Jupiter Gold’s Alpha Project is located approximately 100 miles east of Belo Horizonte, capital of the state of Minas Gerais in Brazil. The area has excellent infrastructure (roads, power, labor availability).
- Only ~2% of the total area of Jupiter Gold’s Alpha Project has been researched in detail by a prior owner, and only its saprolite and colluvial layers:
- 64,000 oz. of gold (cutoff = 0.8 g/t) was reported in their technical report filed with the Brazilian mining department;
- Jupiter Gold’s technical team believes that there is potential to increase resources for multiple reasons:
- Expansion of the study areas;
- Gold at ~$1,500/oz now (vs. $250-300/oz. then) may allow lower cutoff;
- Drilling in rock underneath saprolite layer to characterize primary gold.
- In the map below, produced by CPRM (the Brazilian Geological Service), Jupiter Gold’s first area in the Alpha Project is outlined in yellow; later the Company added to the Alpha Project the areas outlined in red.
- Summary translation of the above legend:
- Yellow: gold mine (active or inactive)
- Blue: gold deposit
- Green: gold occurrence
- Orange: gold indication
- Jupiter Gold’s Alpha Project is located within a geological formation known as the “Supergrupo Rio das Velhas”, where some of the largest gold mines in Brazil have existed. In the map below, also produced by CPRM (the Brazilian Geological Service), Jupiter Gold’s Alpha Project is outlined in yellow; multiple gold mines in this geological formation are indicated by red dots.
- Jupiter Gold’s technical team has mapped 58 deep shafts (up to 70-ft deep) built by the prior owner of one of the areas in the Alpha Project, as can be seen in the map below. A photograph of one of these shafts is also attached below.
- Jupiter Gold’s field geology team descended on two shafts and in each collected samples at 1 meter spacing, for a total of 37 collected samples.
- 36 of the 37 samples showed gold by fire assay; results also included a 16 g/t gold intersection and 4-meter width with a 5/t gold on average.