NDT Ventures Ltd -
Progress on Brazilian exploration program
NDT Ventures Ltd
NDE
Shares issued 22953047
1997-11-11 close $0.51
Wednesday Nov 12 1997
Mr Fred Hewett reports
The company has an option to earn a 100% interest in 86 properties totalling approximately 36,000
hectares, all within the Quadrilatero Ferrifero gold district in the state of Minas Gerais, Brazil. A phase
one program consisting of geological mapping, prospecting and detailed heavy mineral stream sampling
over 45 high and medium potential properties began in late August.
On project B8-B11, crews have traced and mapped several banded iron formation horizons which carry
extensive gold showings and deposits in the same stratigraphic horizons three to eight to the northeast.
Favourable geology and altered sequences cut by quartz veins occur in these iron formations on the
company's projects. Old shallow garimpeiro placer workings have also been noted throughout the
property. Fine grained gold has been observed in heavy mineral stream samples and assays of pan
concentrates up to 43.33 ppm gold have been obtained.
On project B-2, which covers a thrust contact of highly altered greenstone volcanics and basement
granite, three anomalous gold areas have been identified with pan concentrate assays ranging from 30.28
ppm and 40.85 ppm to 130.44 ppm gold. Background values for both projects are generally under 1.5
ppm gold.
Mapping and prospecting to date has located rock types favourable for gold deposits on several of the
other properties, as well as strike extensions of auriferous, altered banded iron formations. Rock
exposures are minimal and poorly exposed, as the area is heavily forested. To date, most rock and
orientation soil samples have returned low gold values, although several areas have shown anomalous
gold values up to 450 ppb and other areas have shown anomalously high pathfinder elements (As, Hg).
The anomalous stream samples coupled with favourable geology indicate a potential for gold
mineralization on several of the properties examined to date and more detailed work will be concentrated
around these anomalous areas. All samples are being collected by experienced field personnel under the
direct supervision of an NDT geologist. All samples are submitted to and analyzed by Bondar Clegg in
Brasilia and Vancouver. The first phase of exploration on the Quadferr project is about 75% complete
and is expected to be finalized in late November. Additional assay results will be reported once they are
received. |
