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| Through its recent acquisition of Chapleau, Magellan controls 39,878 ha in the Cabeça greenstone belt in Northern Mato Grosso. The area is located some 45 km due west of the town of Nova Canaa and is accessed via a well maintained dirt road. Historically the belt has been worked by artisanal miners (garimpeiros) for both alluvial and primary gold and preliminary reconnaissance exploration has revealed several alluvial gold workings within the new claim blocks, where coarse gold with nuggets was recovered. The northwestern portion of the greenstone belt, known locally as Cabeça, was one of the most productive gold areas in the state of Mato Grosso during the 1980's and 1990's and hosts a well known hard rock artisanal mine, known as Filao do Fabio, worked for some 14 years to a vertical depth of 80 m. Initial geological mapping shows a meta-volcano sedimentary sequence, with phyllites, micaceous schists, amphibolites and mafic volcanics. There is considerable quartz float throughout the area and the sequence is an excellent environment for shear-zone style, high-grade, gold mineralization. |
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