Vila Nova Gold Project
JZR Gold Inc. is advancing the Vila Nova Gold project, located in the state of Amapa, Brazil, towards a bulk sample targeted for Fall 2023. The pilot mill is assembled and will be powered up with electricity and water in Fall 2022.
Core drilling, sampling and trenching of tailings is ongoing with 1400 metres completed to date by JZR Golds’ operating partner, Eco Mining.
Assay results estimate 9 million tonnes of gold tailings with grades averaging 2.7g/t for projected contained gold content of over 700,000 ounces (oz).
· There are 9 tailing areas sampled with widely spaced auger tests ranging from 4-12 metres depth.
· There is mineable resource equivalent to 25 tons of gold.
Near term cash-flow from bulk sample targeted for Fall 2023 with revenue expected as early as November 2022.
Vila Nova hosts 9 million tonnes of tailings and JZR Gold Inc. envisions an 800 tonne per day mill. Significant revenues are expected beginning as early as Fall 2022 with cost per ounce of ~US$500 and net gold revenues being split between partners.
Mill
• 800 tonne per day mill.
• 2M tonne tailings with 1 pod to start.
Net gold revenues split between partners:
• 50% JZR Gold; 35% Eco Mining; 15% local CO-Op
• US-$500/ounce cost
• Significant revenue expected beginning Fall 2022.
• CAPEX US $6 million with US $5.4 million advanced to date.
