The Cachoeira project is an advanced gold project consisting of 5,677 hectares approximately 250 kilometers southeast of the city of Belém in the province of Pará, Brazil. The project has a long history of gold mining dating back to the 17th century with more recent exploration completed by Gold Fields Limited, Vale S.A. and Trek Mining Inc. (previously Luna Gold Corp.). The greenstone hosted orogenic gold mineralization is comprised of three deposits that on average have been defined by drilling to 125 meters depth on average. The eastern margin of the greenstone belt has several coincident soil and geophysical anomalies that have not been drill tested. Cachoeira is fully owned and operated by GoldMining Inc. (“GoldMining”).
The latest Resource Estimate was published in April 2013 by Brazil Resources Inc. yielding measured and indicated resources of 691,676 gold ounces grading 1.23 g/t Au and inferred resources of 537,756 gold ounces grading 1.07 g/t Au. To date, 773 holes have been drilled totalling 37,099 meters, further supporting GoldMining’s focus to expand current mineralization at Cachoeira.