GoldMining Confirms Additional Mineralization at the São Jorge Project, Brazil, Including 19 Metres Grading 1.24 g/t Gold
GoldMining Confirms Additional Mineralization at the São Jorge Project,
Brazil, Including 19 Metres Grading 1.24 g/t Gold
VANCOUVER, BC
,
July 9, 2024
/CNW/ - GoldMining Inc. (the "
Company
" or "
GoldMining
") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce
additional assay results from the previously announced drilling program at the Company's 100% owned São Jorge Project ("
São Jorge
" or the "
Project
") in the
Tapajós gold district ("
Tapajós
"), Pará State,
Brazil
. The diamond core drilling component of the program, which is now complete, consisted of 1,077 metres
("
m
"). The objectives of the program included confirmatory drilling within and near the margins of the existing São Jorge gold deposit (the "
Deposit
"
)
, as well as
exploratory drilling approximately one kilometre away from known mineralization in an area with no previous drilling.
Assay results for two additional diamond drill holes (SJD-121-24 and SJD-122-24) have been received, which combined with the previously released hole, SJD-
120-24 (see news release dated
June 18, 2024
), have successfully completed the confirmatory component of drilling within and near the margins of the Deposit.
H
ighlights include
:
SJD-122-24
:
19 m
at 1.24 grams per tonne (g/t) gold (Au) from
61 m
depth, including:
7 m
at 2.98 g/t Au from
68 m
depth.
SJD-121-24
:
18 m
at 0.70 g/t Au from
86 m
depth, including:
8 m
at 1.14 g/t Au from
88 m
Tim Smith
, Vice President of Exploration, commented:
"We are pleased to announce additional results from the recently completed drilling at São Jorge. The
results from these two drill holes near the western known extents of the main São Jorge deposit further help to delineate the corridor of mineralization consisting
of multiple intercepts of gold mineralization and indicating a possible
en echelon
array of mineralized veins within the broader São Jorge high-strain corridor.
Further
oriented diamond core drilling will help to model these zones and improve resource confidence. Additionally, our auger drilling program is proceeding
to map bedrock lithology and collect geochemical samples of the in situ saprolite located beneath broad surface soil anomalies, and it is anticipated this will
help define vectors towards possible new zones of bedrock-hosted mineralization. We look forward to providing further updates from the
São
Jorge drilling
program.
"
Drill Program Details and Geological Description
São Jorge lies within the active and rapidly developing Tapajós Gold District (see
Figure 1
), which is estimated to have produced over 20 million ounces of gold
historically from artisanal mining of surface deposits, according to the Brazil National Mining Agency. The Tapajós is home to Serabi Gold Plc.'s producing high-
grade underground Palito Mine and G Mining Ventures Corp.'s ("
G Mining
") brand new Tocantinzinho open pit mine, which recently commenced commissioning of
its processing facility (see G Mining news release
June 11, 2024
).
São Jorge is located immediately adjacent to paved Hwy BR-163 and a new 138 kV powerline corridor, which ties into the district electrical grid recently
constructed for Tocantinzinho. Exploration activities at São Jorge are operated from a permanent camp near the existing Deposit and just 3 kilometres from the
highway.
Figure 1 – Tapajós Gold District and location of São Jorge Project. (CNW Group/GoldMining Inc.)
The Company commenced drilling at São Jorge in
May 2024
(see news release dated
May 29, 2024
) and released results of the first confirmatory drill hole SJD-
120-24 (see news release dated
June 18, 2024
) with an interval of
163 m
at 1.02
g/t Au, including
37 m
at 2.26 g/t Au (see
Figure 2
).
Mineralization comprises fracture-controlled sulphide ± quartz veins, with the sulphides consisting of dominant pyrite with lesser chalcopyrite, along metre-scale
northwest-southeast striking shear zones hosted within monzogranite and along a sheared footwall contact between monzogranite and syenogranite, which
cumulatively defines the São Jorge high-strain corridor. Pyrite occurs as hairline stringers, disseminated grains and semi-massive pyrite in 3 – 5 cm thick veins.
Higher gold grades are related to a higher abundance of sulphide minerals, particularly thicker veins, and/or a higher density of semi-massive to massive pyrite
veins (see
Figure 3
).
SJD-121-24 and SJD-122-24 provided additional infill drilling in the western portion of the Deposit to support potential future resource interpolation and
classification (see
Figure 4
). Drilling intersected multiple zones of mineralization hosted within the São Jorge high-strain corridor. SJD-122-24 demonstrated
strong mineralization directly along strike of the main Deposit. SJD-121-24 intersected several zones of mineralization north of the established Deposit strike
direction, representing possible
en echelon
northwest stepping of mineralized structures within a large low-grade envelope associated with the broader São Jorge
high-strain corridor.
See Tables
1 and 2 below for further information regarding the drilling.
For additional information regarding the São Jorge Project, including existing resource estimates and historical work at the project, please refer to the technical
report titled "São Jorge Gold Project, Pará State,
Brazil
: Independent Technical Report on Mineral Resources", prepared for the Company and dated effective
May 31, 2021
, which is available under the Company's profile at
www.sedarplus.ca
.
Figure 2 – São Jorge gold deposit drill hole locations, including locations of SJD-121-24, SJD-122-24 and other drill holes pending assay results. Section line ‘A-A’
as shown in Figure 4. (CNW Group/GoldMining Inc.)
Figure 3 - Core sample showing the strong visual nature of mineralization at São Jorge, comprising a 1-2 cm wide pyrite vein within SHD-122-24, which returned
15.67 g/t Au from 72.0 to 73.0 metres depth (see Table 1). (CNW Group/GoldMining Inc.)
Figure 4 – São Jorge gold deposit drill hole cross-section, showing location of recently completed SJD-121-24 and SJD-122-24, facing northeast (see section
trace on Figure 2). (CNW Group/GoldMining Inc.)
Table 1
– São Jorge assay intercepts from the first three holes of the 2024 drilling program, received as of
July 9, 2024
.
Hole Number
Interval From
(m)
Interval To
(m)
Core Length
1
(m)
Au Grade
(g/t)
SJD-120-24
44.00
207.00
163.00
1.02
SJD-120-24
44.00
64.00
20.00
1.37
Including
45.00
50.00
5.00
2.82
Including
45.00
46.00
1.00
7.25
SJD-120-24
69.00
70.00
1.00
3.03
SJD-120-24
74.00
75.00
1.00
5.05
SJD-120-24
95.00
132.00
37.00
2.26
Including
97.00
98.00
1.00
11.47
Including
102.00
104.00
2.00
12.22
SJD-120-24
148.00
159.00
11.00
1.00
Including
152.00
155.00
3.00
2.31
SJD-120-24
166.00
179.00
13.00
1.35
SJD-120-24
195.0
207.0
12.00
1.15
including
201.00
206.00
5.00
2.24
Including
205.00
206.00
1.00
7.29
SJD-120-24
249.00
250.00
1.00
1.07
SJD-120-24
259.00
260.00
1.00
1.27
SJD-120-24
265.00
266.00
1.00
3.74
SJD-121-24
49.00
52.00
3.00
1.31
SJD-121-24
86.00
104.00
18.00
0.70
Including
88.00
96.00
8.00
1.14
SJD-121-24
191.00
196.00
5.00
0.75
SJD-122-24
32.00
35.00
3.00
0.80
SJD-122-24
61.00
80.00
19.00
1.24
Including
68.00
75.00
7.00
2.98
Including
72.00
73.00
1.00
15.67
SJD-122-24
110.00
114.00
4.00
0.47
Notes:
1. True widths are estimated to be approximately 66% of downhole length, assuming primarily steeply dipping vein-hosted mineralization.
Table 2
– São Jorge 2024 drill hole collar location coordinates.
Hole Number
Easting
Metres
(UTM Zone 21S)
Northing Metres
(UTM Zone 21S)
Elevation
(m above sea level)
Depth
(m)
Azimuth
(
Degrees
)
Dip
(
Degrees
)
Status
SJD 120-24
657535
9282655
209.45
271.84
335
-50
All assays
received
SJD 121-24
656807
9283159
211.50
200.34
180
-50
All assays
received
SJD 122-24
656810
9283020
214.90
126.43
180
-50
All assays
received
SJD 123-24
656065
9283800
203.10
251.39
230
-50
Pending
SJD 124-24
656360
9284004
223.29
226.51
215
-50
Pending
Qualified Person
Paulo Pereira
, P. Geo., President of GoldMining, has supervised the preparation of, and verified and approved, the scientific and technical information herein this
news release. Mr. Pereira is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("
NI 43-101
").
Data Verification
For this drill core sampling program, samples were taken from the NQ/HQ core by sawing the drill core in half, with one-half sent to SGS Geosol Laboratórios
Ltda. ("
SGS
") in
Brazil
for assaying, and the other half of the core retained at the site for future reference. Sample lengths downhole were uniformly
1.0 m
. SGS
is a certified commercial laboratory in Vespasiano, Minas Gerais,
Brazil
, and is independent of GoldMining. GoldMining has implemented a quality assurance and
quality control program for the sampling and analysis of drill core, including duplicates, mineralized standards and blank samples for each batch of 100 samples.
The gold analyses were completed by FAA505 method (fire-assay with an atomic absorption finish on 50 grams of material).
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition
strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in
Canada
, the
U.S.A.
,
Brazil
,
Colombia
, and
Peru
. The
Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq:
USGO), and 26.7 million shares of NevGold Corp. (TSXV: NAU). See
www.goldmining.com
for additional information.
Notice to Readers
Technical disclosure regarding
São Jorge
has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities
Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These
standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this
news release may not be comparable to similar information disclosed by domestic
United States
companies subject to the SEC's reporting and disclosure
requirements.
Cautionary Statement on Forward-looking Statements
Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of
applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or
implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements and
expectations respecting the Company's expectations regarding the project and expected work programs thereat. Any statements or information that express or
involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not
always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies",
"targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral properties,
fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters,
any inability to complete the drill program as expected, the Company's plans with respect to São Jorge may change as a result of further planning or otherwise,
and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs
Annual Information Form for the year ended
November 30, 2023
, and other filings with Canadian securities regulators and the SEC, could cause actual results
and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-
looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not
undertake to update any forward-looking statements, except in accordance with applicable securities law.
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For further information:
For additional information, please contact: GoldMining Inc., Amir Adnani, Co-Chairman; David Garofalo, Co-Chairman; Alastair Still,
CEO, Telephone: (855) 630-1001, Email: [email protected]
CO: GoldMining Inc.
CNW 06:30e 09-JUL-24