Votorantim intersects base metals at Aripuana

Early drill results from the Aripuana base metal project in Mato Grosso state, Brazil, have confirmed earlier results on the known resource.

Brazilian steel and base-metal producer Votorantim Metais, the project’s new operator, drilled the first two holes of a planned 7,000-metre program.

Votorantim reported an 8.5-metre intersection of massive sulphide mineralization from one hole; a 4.5-metre zinc-rich zone averaging 14.1% zinc, 4.4% lead, 0.3% copper, 0.2 gram gold and 99.5 grams silver per tonne was followed by a 4-metre copper-rich intersection with 4.1% copper, 3.2% zinc, 1.3% lead, 1.6 grams gold and 105.4 grams silver per tonne.

A second hole intersected 8.6 metres running 3.3% zinc, 0.4% lead, 1.9% copper, 1.4 grams gold and 32.1 grams silver per tonne, with a second zone a few metres deeper that ran 0.9% copper, 3.1 grams gold and 5.2 grams silver per tonne over 5.5 metres.

Votorantim is earning an interest in the property from Anglo American (AAUK-Q), which holds a 70% interest in the property. Karmin Exploration (KAR-V), with 28.5%, and a Brazilian partner, with 1.5% hold the rest. Under its deal with Anglo, Votorantim must spend US$500,000 on exploration by the end of the year, and a further US$1.1 million by the end of 2005.

The property hosts four massive-sulphide zones, on which indicated and inferred resources have been estimated already. The Arex deposit, discovered by Anglo, has a zinc zone with 3 million tonnes of indicated resources grading 6.72% zinc, 2.16% lead, 0.35% copper, 58.7 grams silver and 0.3 gram gold per tonne; its copper zone contains 1.9 million tonnes grading 0.44% zinc, 0.08% lead, 1.95% copper, 21.1 grams silver and 1.6 grams gold per tonne.

The Ambrex deposit, discovered by Karmin, is made up of the Valley zone, with an indicated 7.7 million tonnes grading 5.55% zinc, 2.08% lead, 0.05% copper, 58.7% silver and 0.2 gram gold per tonne, and the Toddy zone, with 471,000 tonnes grading 4.55% zinc, 1.29% lead, 0.15% copper, 29.1 grams silver and 0.2 gram gold per tonne.

Inferred resources on the Arex deposit are estimated at 5 million tonnes grading 4.46% zinc, 1.53% lead, 0.94% copper, 49.4 grams silver and 0.8 gram gold per tonne. Ambrex has an inferred resource in the Valley and Toddy zones of 5.7 million tonnes at average grades of 5.51% zinc, 2.11% lead, 0.05% copper, 57.7 grams silver and 0.2 gram gold per tonne.

Votorantim’s future work includes testing on the southeast extension of the Ambrex deposit, and transient electromagnetic surveys and drilling on targets 15 km to the south. There are currently two drills on the property.