This year, Anglo American will spend at least $1.1 million exploring the Aripuana volcanogenic massive sulphide project in Brazil — a joint venture with Toronto-based Karmin Exploration.
Ground geophysics will be used to refine anomalies identified in an airborne survey. Drilling is slated to begin in the fall.
Last year, Anglo spent $1.7 million on the property, and, in the process, outlined several mineralized zones.
The Valley deposit has a resource of 11.6 million tonnes grading 6.29% zinc and 2.25% lead, plus 65 grams silver per tonne and minor copper and gold credits.
In October 2000, one hole in a 160-metre stepout west of the Valley deposit intersected 9 metres grading 16.6% zinc, 5.4% lead and 156 grams silver.
Meanwhile, an ACA Howe report on the Arex deposit, 1 km west of the Valley showing, confirmed a 7-million-tonne resource.
Total resources now stand at 18.6 million tonnes of polymetallic mineralization.
The South African-based major has a 70% interest in the project; Karmin, 30%.
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