VANCOUVER,
Oct. 3, 2013 /PRNewswire/ - Brazil
Resources Inc. (TSXV: BRI) (OTCQX: BRIZF) (the "Company" or "Brazil
Resources") announces that it has filed an amended National
Instrument 43-101 ("NI 43-101") technical report (the "Amended
Report") respecting its Cachoeira Project located in the Pará
State, Brazil. The
amendments do not affect the resource calculations set forth in the
original technical report for the project.
The Amended Report includes, among other things,
the following additional information:
- further information and clarification as to how the qualified
person determined the reasonable prospects of economic extraction
and the methodology and model utilized by the qualified person in
the resource estimate;
- an explanation of the differences in methodology and
assumptions used to that of the technical report dated July 19, 2012 on the Cachoeira Project prepared
for the Company by Roscoe Postle Associates Inc. As no
additional material exploration work was completed in the period
between the two reports, such differences are the primary reason
for the increased resource calculations under the more recent
Amended Report;
- additional information respecting prior estimates referenced
therein in accordance with NI 43-101;
- additional clarification respecting the treatment of previously
mined areas in the resource estimate;
- additional tables providing representative drill results and
assay descriptive statistics;
- an expanded summary and interpretation of historic drilling and
sampling results;
- additional summary descriptions of historical mineral
processing metallurgical tests carried out on material from the
Cachoeira Project; and
- an expanded summary of drilling and core-handling procedures
previously undertaken.
For further information, please refer to the
full text of the Amended Report, a copy of which is available under
the Company's profile at www.sedar.com.
The Amended Report was prepared for the Company
by Tetra Tech, Inc., is titled "Technical Report and Resource
Estimate on the Cachoeira Property, Pará State, Brazil", has an effective date of April 17, 2013 and was amended and restated as of
October 2, 2013. The Amended Report
amends and restates the technical report of the Company dated
April 17, 2013 with the same
title.
The author of the report, Greg Mosher, M.Sc. P.Geo, is a qualified person
within the meaning of NI 43-101 and a Senior Geologist with Tetra
Tech, Inc., is independent of the Company as defined under NI
43-101, and has reviewed the contents of this news release.
Paulo Pereira, the Company's Vice
President of Exploration, has reviewed and approved the technical
information contained in this document. Mr. Pereira holds a
Bachelor degree in Geology from Universidad Do Amazonas in
Brazil, is a qualified person as
defined in NI 43-101 and is a member of the Association of
Professional Geoscientists of Ontario.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration
company with a focus on the acquisition and development of projects
in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, Brazil Resources is
advancing its Cachoeira , Montes Áureos and Trinta Gold Projects
located in the Gurupi Gold Belt in the state of Maranhão,
northeastern Brazil, and its
Artulandia Copper-Gold Project in central Brazil.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Stephen Swatton or Patrick Obara
Telephone: (855) 630-1001
E-mail: info@brazilresources.com
SOURCE Brazil Resources Inc.