Ambrex to start work program at Trairao in Brazil

With a preliminary resource figure calculated at its Aripuana project in Mato Grosso state, Brazil, Ambrex Mining (AMBX-C) is preparing to start work on a second prospect, the Trairao property.

Trairao is a gold showing occurring in a stockwork in highly altered granite. The overburden is being worked by garimpeiros. Ambrex has soil geochemistry and magnetic surveys under way, and drilling will begin in November.

At its Aripuana polymetallic massive-sulphide project, Ambrex has a preliminary resource of 4 million tonnes, based on limited drilling. Grades ranged up to 13.3% zinc, 2% lead and 52 grams silver per tonne over 8.7 metres (T.N.M., Oct. 14/96).

Drilling continues to test 800 metres of a 3.1-km string of geochemical and geophysical targets. Anglo American’s Brazilian subsidiary, Unigeo, is also drilling off a resource along strike from Ambrex’s drill targets.

Ambrex has raised $2.5 million to advance the two projects in a private placement of units, each of which consists of a common share and half a purchase warrant. A full warrant entitles the holder to buy a common share of Ambrex at 60 cents until Nov. 11, 1998.