Belo Sun is exploring for gold along the major mineralized belts of northern Brazil, a region boasting vast mineral wealth and a vibrant, modern mining industry. Brazil is home to a world-class mining industry with remarkable exploration potential. Brazil also has a favorable political climate with a recently modernized mining code and, despite its excellent geology, remains largely underexplored.
Volta Grande Project
Belo Sun is focused on expanding and advancing its 100% owned Volta Grande Project. Belo Sun recently announced an updated mineral resource estimate for Volta Grande based on assay results from 140 drill holes from the 2011 drilling campaign. The Mineral Resources of the Volta Grande Project now total approximately 52,451,000 tonnes of Measured & Indicated Mineral Resources at an average grade of 1.69 g/t Au which contains approximately 2,852,000 ounces of gold as well as approximately 39,990,000 tonnes of Inferred mineral resources at an averave grade of 1.81 g/t Au containing approximately 2,322,000 ounces of gold.
The ongoing drilling program at the Volta Grande property will continue throughout 2012 and assay results will be released as they are received.
A Definite Feasibility Study for the Volta Grande Project is presently underway. It is anticipated to be complete by Q3 2013.
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Belo Sun's 100% owned Patrocinio Project covers approximately 18,700 hectares of the Tapajos gold province, historically the most important gold producing region in Brazil, with over six million ounces of artisanal production since the 1950s. Several public sources indicate that about one million ounces of gold has been produced by local miners at Patrocinio. In 2006, Belo Sun optioned the project to Kinross, who can earn a 65% interest by sole funding US $8 million in exploration and development through September, 2011. In 2007, Kinross completed an airborne magnetic survey over the property and collected soil samples every 80 metres on 800 metre spaced lines across the entire property. Follow-up work focused on the Pista Velha target area, defined by anomalous gold in soils covering an area measuring 2.5 kilometre x 1.0 kilometre.