Australian Mines Limited (AUZ) is actively progressing its Boa Vista Gold Project, located in Brazil’s Tapajós Gold Province. Australian Mines is focused on developing a portfolio of sustainable, high-quality battery minerals and gold assets. The company is undertaking an extensive exploration program to further evaluate the project’s potential, leveraging its strategic location and historical data. Boa Vista benefits from being situated in a Tier-One gold jurisdiction with over 30 million ounces of gold produced historically.
The Boa Vista project features a historic resource at the VG1 prospect of 8.47Mt @ 1.23g/t Au for 336koz, over a strike length of approximately 600m, up to 85m wide and drilled to 120m depth. Australian Mines believes VG1 remains open in all directions. Earlier drilling results show significant intercepts with high-grade upside due to shallow en-echelon structures. The company says the project also features favourable mining and metallurgy, with thick zones of gold mineralization, recovery rates of >95%, and up to 60% recovery by gravity. The company highlights visible gold in VG1 outcrops, with high-grade potential from surface exposures along oblique cross-cutting structures within the mineralised shear zone.
AUZ’s exploration program includes LiDAR and magnetic surveys, followed by a phased diamond drilling program exceeding 5,000 metres. The initial 3,000-metre phase will focus on testing strike extensions, depth extensions of high-grade mineralisation, infill drilling, and testing the geometry of high-grade cross-cutting oblique structures. The company intends to update the historical resource to JORC 2012 standards and advance metallurgical, environmental, and baseline studies. AUZ has a strategic local presence through its partner GoldMining Inc., which is actively drilling its São Jorge project just 80km away.
Australian Mines recently completed a placement to raise $2.5 million. The funds will be used to pay for Boa Vista expenditure ($1.12m), Flemington ($0.40m), Sconi ($0.45m) and Corporate ($0.38m) purposes. The company says the Boa Vista project offers an early-stage, high-impact opportunity, with only 26 diamond holes drilled to date. It is working to unlock substantial blue-sky exploration potential and advance the project towards resource development.
