Mineral Resource and Reserve Audit

Paraiba Gold Mineral Resource and Mineral Reserve Audit

Paraíba Gold deposit is located near Peixoto de Azevedo, Mato Grosso State. Gold production in the region started in 1980 through artisanal mining and peaked in 1989, after which artisanal operations declined. When gold prices rose in 2008, this boosted both artisanal extraction and exploration by junior and major companies and, in turn, led to significant increases in gold production.

Paraiba Gold deposit consists of a system of sub-vertical narrow veins and the mining concept consisted of the implementation of an underground mine.

In 2018 SRK completed an audit of mineral resources and mineral reserves for the Paraíba Gold deposit. SRK verified the database integrity and reviewed the procedures used for the deposit’s mineral resources and mineral reserves estimates and has found that the figures provided are appropriate for public reporting under international standards.