Brilliant Resources (BLT-V) completes Rio Muni survey, chooses projects
Nov 15, 2012 - News Release
Brilliant Resources Inc., through its wholly owned subsidiary, Ivory Resources Inc., has invested in and delivered a final report and digital dataset to the the Ministry of Mines, Industry and Energy (MMIE) of the Republic of Equatorial Guinea in satisfaction of Ivory's contract to render air-transported geophysical exploration services (airborne surveys) in the continental region of Equatorial Guinea (Rio Muni) in exchange for a certain preferential right over which the government of Equatorial Guinea will grant mineral concessions to Brilliant.
On behalf of Brilliant, Fugro Airborne Services flew a Mega TEM survey of the Rio Muni during 106 clear flying days between Nov. 30, 2010, and Dec. 15, 2011, accumulating 67,518 line kilometres of aeromagnetic, electromagnetic and radiometric data, using 400-metre line spacing. In collaboration with Fugro, Apex Geoscience Ltd. and the government, Brilliant completed an intensive geological and structural interpretation of the geophysical dataset by May, 2012, including a six-week field program to validate anomalies and confirm the utility of the Mega TEM dataset as a predictive tool to focus future exploration. The Mega TEM data were then combined with all available historical exploration data to create a comprehensive technical report and a dynamic geoscientific database, which were delivered to the government on Oct. 3, 2012, in exchange for mineral concessions.
This state-of-the-art airborne geophysical survey provides the tools necessary to map rock types, structures and alteration commonly associated with mineralization, allowing for a quick appraisal of the mineral potential of large areas and helping in the geological interpretation of known mineral occurrences. These tools are particularly useful for identifying and prioritizing exploration targets in areas with limited access and/or thick cover, such as the equatorial rainforest of the Rio Muni. The geophysical results will serve as a catalyst for further exploration investment by Brilliant and will serve to attract international investment from other mineral exploration companies, thereby generating continuous, systematic and modern exploration, which may lead to the discovery of economic deposits and ultimately to the development of a productive mining industry in the Republic of Equatorial Guinea.
Diversification of the economy of Equatorial Guinea through the development of its mining industry is a key component of the government's Horizons 2020 strategy. The benefits of mineral exploration have already been demonstrated during the airborne survey with Brilliant's delivery of a geophysical training program and tour of an advanced exploration project for MMIE technicians in Northern Canada, as well as the technology transfer between Brilliant and MMIE technicians during the field program in Equatorial Guinea, a software training program for MMIE technicians to use the geophysical database and support services being delivered by citizens in the communities that hosted the field operations. The success of the program to date is a credit to the productive collaboration between Brilliant, its associates and investors, many government ministries, community leaders, and citizens. The MMIE and Brilliant are looking forward to continuing their mutual collaboration in the coming months.
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