The Itaporã gold project is located in Pará State, Brazil and is comprised of four granted claims (NS-07, 13, 14 and 15) totalling 16,760 hectares. The claims are underlain by rocks of the Archean Andorinhas Greenstone Belt, which host several gold and iron occurrences including Troy Resources NL's ("Troy") two operating gold mines (Mamão and Lagoa Seca) and Mineração Floresta do Araguaia SA's iron ore (Big Mac) mine.
INV Metals' exploration efforts have focused on claims NS-07 and NS-13. In 2009, a 7 hole diamond drill program, totalling 1,114 m, was completed to test both target areas. The initial drill program successfully confirmed the presence of hydrothermally altered, gold-bearing rocks. At NS-07 multiple zones of anomalous gold grading up to 3.9 g/t were identified, while at NS-13, 14.4 g/t gold was intersected over 0.75 m, which appears to be directly along strike from the Mamão mine. Drill assay results ranged from insignificant gold values to 14.4 g/t gold in hole ITNS 13-03. See INV Metals press release dated September 17, 2009 for further details.
The 2011 drill program commenced in September.
NS-07 Claim
At NS-07, located 60 km to the west of the Mamão deposit, mafic-ultramafic rocks and metasediments appear to be hydrothermally altered, including silicification, sericitization and amphibolitization, along a 2.2 km long northwest-trending structure. A soil geochemical survey outlined a 3.0 km long anomaly with gold values greater than 10 ppb. The anomalous trend ranges from 200 m to 800 m wide. Within this extensive anomaly, there are two discrete, significant, gold geochemical anomalies in soil. The northern anomaly, as defined by values equal to or greater than 80 ppb gold, is approximately 450 m long, and ranges from approximately 25 m wide to 200 m wide. Within this area, gold values in soil range up to 525 ppb, with a single sample of 24,624 ppb (24.6 g/t) at the centre of the zone. This anomaly is roughly coincidental with moderate IP chargeability and resistivity anomalies. The southern geochemical soil anomaly is located approximately one kilometre southeast of the northern anomaly. Based on gold values equal to or greater than 80 ppb gold, it is approximately 450 m long by 50 m to 200 m wide, with values ranging up to 522 ppb gold. This anomaly is roughly coincidental with a moderate IP chargeability anomaly.
NS-13 Claim
At NS-13, located 4.5 km to the southwest of the Mamão gold mine, mafic-ultramafic rocks and metasedimentary rocks have been mapped along a northeast-southwest trending shear zone that is interpreted to possibly represent the strike extension of the same structure present at the Mamão deposit. Along this trend two main zones of hydrothermally altered, folded and deformed rocks were identified (2.1 km x 0.6 km and 5 km x 1 km). Locally, hydrothermal alteration observed to date includes silicification, amphibolitization, saussuritization and chloritization, similar to, but less intense than, the alteration that hosts the gold mineralization at Mamão. A gold in soil geochemical anomaly with values between 50 ppb and 200 ppb has been outlined over a 1,000 m length and 300 m width.
