Araxá/Goiabal/Patrocínio

About the project

The group brings together three exploration areas in Minas Gerais — Araxá, Patrocínio and São José do Goiabal — totalling 10,728.65 hectares. All three have a Final Exploration Report filed with the ANM, and the Patrocínio report has already been approved by the agency, which places that project at the stage of the right to apply for a mining concession. This is exploration completed, not promised.

Four substances sit across three independent geological settings, which spreads the risk rather than concentrating it on a single target. At Araxá, the largest of the areas, the tenements form two blocks west and east of the town, with iron and titanium as the target. At Patrocínio, the smallest area and the most advanced in regulatory terms, the targets lie in the Salitre alkaline complex, around the Salitre and Negra ranges. At São José do Goiabal, in the east of the state, the tenements form a practically continuous block elongated northeast to southwest.

Field exploration totalled 107 drill holes — 95 auger holes at Araxá and 12 diamond holes at Goiabal — and 408 samples collected. At Patrocínio the campaign combined auger and rotary drilling, a magnetometric survey over the alkaline complex, and geological mapping of the units. Diamond drilling recovers continuous core and is the most reliable method in mineral exploration.

The next step is environmental licensing.