The 100% owned Volta Grande Project is located approximately 60 kilometres southwest of the town of Altamira (pop. 100,000) in the northern region of Para State. The geological setting (Tres Palmeiras greenstone belt) at the project area is part of the same sequences present in the Carajas "World Class" mineral province. The Company currently controls the mining and exploration rights over an area covering 130,541 hectares(1,305 sq. km) of the area known for artisanal gold mining. Read more
Volta Grande, the Company's primary focus, is an advanced-stage exploration project where an indicated and inferred gold resource has already been delineated. The resource is comprised of 4.7 million measured & indicated ounces of gold (average grade of 1.68 g/t) and 2.4 million inferred ounces of gold (average grade of 1.93 g/t) using a 0.50 g/t cut-off for open pit mineral resources and a 2.0 g/t cut-off for underground mineral resources) (for additional details, see Belo Sun's press release dated April 15, 2013). This resource has been prepared with NI 43-101 standards.
In order to move the Volta Grande Project towards feasibility, Belo Sun launched a large diamond drill program in 2010 aiming at the upgrade and expansion of the current resources. Drill results continue to confirm the potential for further increasing the resources at Volta Grande, 213,300 metres have been drilled to date (as at April 2013). In addition, the environmental permitting process has begun, including further geotechnical and hydrological data collection to advance the mining plan. These studies will serve as the environmental basis for the reference term to be discussed and settled by the competent environmental state agency (SEMA-PA). With the progress of the drilling and increased knowledge of the mineralization model, preliminary metallurgical results were released on October 18, 2011 and additional metallurgical tests are anticipated for further confirmation of the production process and recoveries as part of the Definitive Feasibility Study.
It is important to emphasize that the current resource estimate is limited to a vertical depth of approximately 350m and restricted to 5 km strike length from Ouro Verde and Grota Seca deposits as well as a minor portion at the Bloco Sul target.
Several sections show significant intercepts below this depth indicating very good potential for adding higher grade resources to be developed by underground mining. In addition, there are indications from soil and rock geochemistry anomalies that the mineralization extends to NW and East. As stated previously, a diamond drilling program is currently in progress to test this possibility.
Widespread gold mineralization was identified in the 1990s by past operators TVX Gold (now part of Kinross) and Battle Mountain Exploration (now part of Newmont). Combined, their efforts included more than 27,000 meters of combined core, auger, and reverse circulation drilling and several thousand channel and soil samples. Preliminary metallurgical work indicated that Volta Grande mineralization is amenable to conventional processing methods, with gold recoveries of up to 95% in bottle roll tests.
The shear-hosted resource at Volta Grande is contained in three main areas (Ouro Verde and Grota Seca at the North Block and the South Block), all of them developed by artisanal workings. Within these areas, there are many narrow zones of high-grade gold mineralization, open along strike and at depth, with excellent potential for expansion. There is also potential for the discovery of additional mineralized zones within the large alteration envelope in the host intrusive which has been traced for more than three kilometers along strike. Two types of gold mineralization are present: primary gold in intrusive rocks and secondary gold in an extensive saprolitic zone overlying the primary mineralization.
The property has been mined historically by garimpeiros (artisanal miners) for several decades using both open pit and underground mining methods with several shafts of 80 to 200 meters along high-grade veins. Grab samples from these shafts have assayed as high as 474.9 g/t.