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Gold Project in Pará, Brazil
TriStar Gold is a gold exploration and development company. Its 100% owned flagship project, Castelo de Sonhos gold project, is located in Pará state, Brazil. The Company has also recently completed a US $8 million finance with Royal Gold Inc.
CEO and President of TriStar, Nick Appleyard and the Director of TriStar, Dr. Quintin Hennigh discuss the company's project.
The current resource is at 1.3 million ounces inferred gold and 700,000 ounces of indicated. Furthermore, this is located in Esperança South; which is just one small corner of the project where it just happens to come to surface. "There's a lot more potential there still to be unlocked." says Appleyard.
Paleoplacer deposits
According to Appleyard, Dr. Hennigh is the most passionate geologist he has worked with. "He is a Ph.D. geologist and he is a world expert on paleoplacers, and this is a paleoplacer." he says.
Paleoplacer deposits are fossilized or frozen placer deposits. Placer gold refers to particulate gold that occurs in gravels such as stream-laid gravels or shoreline gravels. When you start to bury those deposits, they actually turn to hard rock and you end up with what's called a paleoplacer deposit.
Further, at Castelo de Sonhos these conglomerates were laid down, about 2.2 billion years ago. "Now through erosion and weathering they've actually stuck their head up again and are now the target of TriStar." says Dr. Hennigh.
Castelo de Sonhos
The Castelo de Sonhos gold project is situated in the southwestern Pará state, Brazil, approximately 20km from the town of Castelo de Sonhos. Moreover, it is a paleoplacer gold deposit with 19 km of conglomerate outcrop. Large upside potential remains with only around 60% of the prospective area drilled thus far.
In 2018 the company completed a preliminary economic assessment on the Esperanca South target. The report returned exceptional results indicating a pre-tax IRR of 51% and NPV $319m at a modest gold price of US$1250/oz gold. TriStar is now focused on advancing the preliminary feasibility study while also testing the upside potential of additional targets outside of the known resource area.
For more information on TriStar Gold Inc. (TSXV: TSG, OTCQB: TSGZF) please fill out the form below.
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