GoldMining Inc. Expands Exploration Opportunities at São Jorge Project in Brazil
GoldMining Inc. is making strides in the exploration of its 100% owned São Jorge Project located in Brazil’s Tapajós gold district, as evidenced by a recent updated Mineral Resource Estimate (MRE). This significant update, stemming from thorough analysis and enhanced geological interpretation, showcases the company's commitment to maximizing the potential of this promising area. The updated MRE incorporates the data from the 2024 drilling campaign and reflects a refined comprehension of the gold mineralization at São Jorge.
The MRE, set forth in a technical report with an effective date of January 28, 2025, reveals that the Indicated resource at the São Jorge deposit now totals 19.42 million tonnes at an average grade of 1.00 gram per tonne (g/t) gold, comprising roughly 624,000 ounces of contained gold. Additionally, there are 5.56 million tonnes estimated in the Inferred category at an average grade of 0.72 g/t, which accounts for approximately 129,000 ounces of gold. These figures signify a robust resource base that aligns with the company's strategic focus on developing high-potential assets.
Rounding out the good news, the updated MRE was constructed using a long-term average gold price assumption of $1,950/oz, and it indicates a potential for a high-grade starter pit. The resource model suggests a starter pit with 2.1 million tonnes at an impressive 1.89 g/t gold, highlighting the project’s immediate viability and attractive initial returns.
GoldMining has also taken steps to expand the geographic footprint of the São Jorge Project, increasing its land package to 46,485 hectares by adding 488.45 hectares of land to the east. This acquisition further underscores the company's intent to tap into the broader mineral system that encompasses the deposit, characterized by a 12 km x 7 km area exhibiting elevated surface geochemical anomalies.
Looking ahead, GoldMining is gearing up for an aggressive exploration schedule in 2025, planning to significantly augment the efforts initiated in 2024. This strategic push will involve detailed follow-up drilling programs aimed at discovering high-priority targets within the expansive mineral system. Recent exploration results have already indicated several high-grade auger drill intercepts with remarkable grades, including drill hits at the William South area of 17.14 g/t gold.
In conjunction with these promising results, the company has launched an intensive soil sampling campaign, revealing the highest ever gold-in-soil anomaly with readings of 5.96 g/t at the William North prospect area. This strong exploration outcome presents a compelling narrative for potential future discoveries.
Alastair Still, the Chief Executive Officer of GoldMining, expressed his enthusiasm for the São Jorge Project, emphasizing its strategic importance given its proximity to existing infrastructure and size. He highlighted that the recent updates and exploration findings have strengthened the company's confidence in São Jorge’s potential. The significant presence of gold mineralization in surrounding areas and the successful expansion of land tenure further solidify São Jorge's position as a vital asset within GoldMining’s portfolio.
As GoldMining continues its work, both in terms of exploration and development, the anticipation builds around the potential expansion of mineral resources as new drill targets are investigated. With the promising results from 2024 firmly backing their exploration initiatives, the company is well-positioned to maximize value from the São Jorge Project and contribute to the growing gold mining landscape in Brazil.
For ongoing updates and detailed reports, stakeholders can visit GoldMining Inc.'s official website, where comprehensive information including the technical report is readily available. The exploration team, backed by a robust corporate strategy, remains optimistic and committed to uncovering further opportunities in this fertile mining region.
The MRE, set forth in a technical report with an effective date of January 28, 2025, reveals that the Indicated resource at the São Jorge deposit now totals 19.42 million tonnes at an average grade of 1.00 gram per tonne (g/t) gold, comprising roughly 624,000 ounces of contained gold. Additionally, there are 5.56 million tonnes estimated in the Inferred category at an average grade of 0.72 g/t, which accounts for approximately 129,000 ounces of gold. These figures signify a robust resource base that aligns with the company's strategic focus on developing high-potential assets.
Rounding out the good news, the updated MRE was constructed using a long-term average gold price assumption of $1,950/oz, and it indicates a potential for a high-grade starter pit. The resource model suggests a starter pit with 2.1 million tonnes at an impressive 1.89 g/t gold, highlighting the project’s immediate viability and attractive initial returns.
GoldMining has also taken steps to expand the geographic footprint of the São Jorge Project, increasing its land package to 46,485 hectares by adding 488.45 hectares of land to the east. This acquisition further underscores the company's intent to tap into the broader mineral system that encompasses the deposit, characterized by a 12 km x 7 km area exhibiting elevated surface geochemical anomalies.
Looking ahead, GoldMining is gearing up for an aggressive exploration schedule in 2025, planning to significantly augment the efforts initiated in 2024. This strategic push will involve detailed follow-up drilling programs aimed at discovering high-priority targets within the expansive mineral system. Recent exploration results have already indicated several high-grade auger drill intercepts with remarkable grades, including drill hits at the William South area of 17.14 g/t gold.
In conjunction with these promising results, the company has launched an intensive soil sampling campaign, revealing the highest ever gold-in-soil anomaly with readings of 5.96 g/t at the William North prospect area. This strong exploration outcome presents a compelling narrative for potential future discoveries.
Alastair Still, the Chief Executive Officer of GoldMining, expressed his enthusiasm for the São Jorge Project, emphasizing its strategic importance given its proximity to existing infrastructure and size. He highlighted that the recent updates and exploration findings have strengthened the company's confidence in São Jorge’s potential. The significant presence of gold mineralization in surrounding areas and the successful expansion of land tenure further solidify São Jorge's position as a vital asset within GoldMining’s portfolio.
As GoldMining continues its work, both in terms of exploration and development, the anticipation builds around the potential expansion of mineral resources as new drill targets are investigated. With the promising results from 2024 firmly backing their exploration initiatives, the company is well-positioned to maximize value from the São Jorge Project and contribute to the growing gold mining landscape in Brazil.
For ongoing updates and detailed reports, stakeholders can visit GoldMining Inc.'s official website, where comprehensive information including the technical report is readily available. The exploration team, backed by a robust corporate strategy, remains optimistic and committed to uncovering further opportunities in this fertile mining region.
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