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Santa Clara
Brett Resources Inc., through its wholly owned Salvadoran subsidiary Brett Resources El Salvador, S.A. de C.V., holds 100% of the mineral rights to a 47 square kilometre exploration license, located in eastern El Salvador. The license, called Cerro Bonito, was approved by the Salvadoran government in June, 2005. It is roughly 15 km in N-S extent and varies in width between 1 and 4 km in an E-W direction. It covers three distinct gold targets: the centrally located Santa Clara, Gaspar in the northern portion of the concession and Tinta Amarilla in the south.
Santa Clara is a high-grade gold vein occurrence that projects over 2 km along strike towards Gaspar, a high level zone of silicified volcanic rocks. Surface sampling of the Santa Clara vein returned 24.7 g/t Au over 2.3 m true width. In 1998, Brett drilled five short core holes on the vein, with the best results returning 3.55 m (2.5 m true width) of 11.8 g/t Au and 94 g/t Ag, including 0.95 m of 26.5 g/t Au and 147 g/t Ag. No further drilling has been conducted.
Gaspar, a high level zone of silicified volcanic rocks, is localized along a north-northwest trending structural corridor approximately 4.5 km long. The Santa Clara vein system lies at the southern end of this corridor and is defined by low sulfidation adularia-sericite banded chalcedony veins with up to 114 g/t Au from dump sampling. At Gaspar, widespread, high level silicification (opaline silica - kaolinite) alteration, altered felsic flow domes and variably silicified epiclastic units (up to 3.3 g/t Au in outcrop) occur . These features collectively suggest that this structural corridor, identified by Brett, could host a very significant bonanza-type, low sulfidation vein system.
The Tinta Amarilla prospect lies approximately 5 kilometers to the southwest of Gaspar and covers an area of five square kilometers. The prospect geology is characterized by a dacitic flow dome complex that has been extensively altered to argillic and silicic assemblages. Intermediate flows, tuffs and volcaniclastic units flank this complex to the north. Northwest-trending structures cut both the flow dome complex and the intermediate volcanics at two distinctly contrasting erosional levels. At higher elevations, the structures host silicification in the dacitic rocks whereas in the intermediate volcanics, at lower elevations, they give way to quartz-adularia-illite-pyrite alteration associated with gold bearing, banded adularia-chalcedony veins up to 1.4 meters in width. Surface values up to 19.4 g/t Au and 721 g/t Ag have been obtained from these veins.
Portions of Tinta Amarilla were previously explored for a near surface, bulk tonnage target. Fifteen Reverse Circulation holes, to a maximum depth of 181.4 m were drilled in 2000, totaling 1,625 meters. While the drilling results were viewed as discouraging for a near surface bulk mineable deposit, up to 1.5 meters of 12.6 g/t Au and 424 g/t Ag were identified in the drilling along with several pyrite-illite-adularia + banded chalcedony vein zones. The above intercept can be considered a discovery of a potential high grade vein system and requires step-out drilling to determine continuity.
An option agreement with Placer Dome was recently terminated, and while several qualified candidates have made approaches to take up the option on potentially more favorable terms for Brett, the work that was initiated with Placer funding is continuing uninterrupted while a variety of funding alternatives are being considered. The work program will include a minimum of 1,500 metres of core drilling, and will be attempting to delineate the bedrock source of boulders with up to 59.73 g/t gold and 261.90 g/t silver that were recently discovered at the south end of the Santa Clara vein.
Santa Clara - Maps
Santa Clara - Photos
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Santa Clara
Looking North over Santa Clara from the Chamuscado Hills
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Santa Clara Prospect
Santa Clara Prospect - High-grade colliform-banded quartz-adularia veins (from approx. 40m depth) in core hole SC-01; and rock chip (46.71 g/t Au) from quartz vein exposure in prospect pit above SC-01.
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El Potosi
The Company holds 100% of the rights to the 48 square kilometre El Potosi area, located 90 km east of the capital city of San Salvador. El Potosi is a high grade vein district with past gold production of approximately 60,000 ounces at a reported grade of 15 to 20 g/t Au. Previously reported results from sampling of outcropping banded quartz-chalcedony-adularia veins include 26.5 g/t gold over a true width of 3.9 meters. Of note is a sample from banded quartz-adularia vein float located in the Capulin area, approximately 2 kilometers southeast and on strike of the El Potosi mine, which contains 54.9 g/t gold.
On August 24, 2002, the Company entered into a purchase option agreement with Tournigan Gold Corporation ("Tournigan") whereby Tournigan was granted an option to acquire a 100% interest in the El Potosi license. In May, 2004, Tournigan assigned their rights in El Potosi (with Brett's agreement) to Condor Securities Ltd., ("Condor") an Australian company which listed on the Alternate Investment Market (AIM) of the London Stock Exchange in May 2006. After completing payments totalling U.S. $200,000, partially fulfilling the agreed work and reporting commitments, and delivering to Brett 500,000 shares of Condor Resources plc in lieu of a one year deferral of the final payment to earn 100% interest in the property, Condor terminated the agreement and relinquished their interest in the property.
Tournigan, and subsequently, Condor, conducted surface exploration work during 2003 and 2004 with over 20 km of line-cutting, geologic mapping, trenching and sampling, and with over 400 samples submitted for analysis. Analytical results, as determined by BSI Inpectorate Laboratories of Reno, Nevada, reveal strong, high grade gold mineralization, with a maximum value of 46.4g/t Au and 135g/t Ag. A chip-channel sample taken from the '613' shaft exposure on the main Potosi vein returned 5 metres assaying 22.3 g/t Au (5 samples ranging from 11.2 g/t Au to 40.3 g/t Au).
In the fall of 2005 Condor completed a 3092 metre program of combined reverse circulation and diamond core drilling, and proposed a further program of 3,000 metres of reverse circulation and 400 metres of core drilling, which was deferred and later cancelled.
El Potosi - Maps
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El Potosi
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El Potosi - Photos
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El Potosi
Looking SW.
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El Potosi
9cm x 5cm Slabbed Banded Vein Sample (with Quartz, Adularia, and Clay Seams) from 613 Shaft. (Contains fine visible gold in two of its bands).
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