Monday, 5th November 2007 (1603 views)

Linear Gold has acquired a private gold-producing project in Brazil, it has emerged.

The company announced that it has entered into an agreement with the country's Geomin to acquire and explore the El Filao gold project, located in Brazil's Alta Floresta Gold Province.

Historical drilling on the site has yielded values of high-grade gold ranging from 9.6 to 104.0 grams per tonne, while new sampling from the site's principal vein yielded values of up to 84.9 grams of gold per tonne.

Under the terms of the agreement, the company also has exclusive exploration rights to the Trairao gold property for a 45-day surface sampling operation, which is presently underway.

Based in Halifax in the Canadian province of Nova Scotia, Linear Gold currently also holds exploration properties in Mexico and the Dominican Republic.

Its flagship property, the Ixhuatan project, is located two hours south of the city of Villahermosa in the Mexican state of Chiapas and is thought to contain a measured and indicated gold resource of one million ounces.

 

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