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Company Statement
Colossus Minerals Inc. is a development-stage mining company focused on a high-grade gold and platinum group metals project in Brazil. Discovered in 1979, Serra Pelada hosted the largest gold rush in Latin America. During the 1980s, up to 80,000 garimpeiros (artisanal miners) produced an estimated 2 million ounces of gold plus platinum and palladium, from a 400m x 300m x 100m hand dug open pit. Led by a management team skilled in business, geology and engineering, Colossus is forging ahead with its goal to become the next precious metal producer in Brazil.
Current Operations
Serra Pelada
Location
Serra Pelada is situated in the mineral prolific Carajas region near the towns of Curionopolis and Parauapebas, Para State, northern Brazil. Access and infrastructure are excellent.
History
Discovered in 1979, Serra Pelada hosted the largest ever gold rush in Latin America During the 1980s, up to 80,000 garimpeiros (artisanal miners) produced an estimated 2 million ounces of gold plus platinum and palladium, from a 400m x 300m x 100m hand dug open pit. Garimpeiro production declined due to pit wall collapse and flooding causing the cessation of bedrock mining since the late 1980s.
Gold-Platinum-Palladium Mineralization
The Serra Pelada deposit is hosted by Archaean metasediments of the Rio Fresco Group which unconformably overlain by greenstone belts and gneissic basement, intruded by several ages of mafic-ultramafic and granitoid plutons.
High-grade gold-platinum-palladium mineralization is hosted mainly by fine-grained carbonaceous rocks, but also occurs in iron oxide-rich breccias and silicified zones. The deposit is oxidized to depths of around 300m. Consequently, sulfides are lacking and gold and PGE’s occur mainly as metals and alloys.
The Central Mineralized Zone at Serra Pelada was mined along about 350m of strike length to depths of about 110m. Vale drilling in this area encountered some remarkable intersections. For example drill hole FD-0032, 43m. (from 40m) assaying 4709g/t gold, 204g/t platinum and 1174g/t palladium.
Vale drilling confirmed that gold-platinum-palladium mineralisation extends under the pit and for more than 450m strike length to the western boundary of 850.425/90. In these areas, mineralisation has been encountered at depths of 150-350m and constitutes the prime target of the COLOSSUS-COOMIGASP joint venture.
COLOSSUS-COOMIGASP program
Accomplished to date:
- completed a detailed topographic survey including the capture of remaining Vale drill collar
- acquired 45,000m of Vale drill core and advanced a program of re-sampling and re-assay program for gold, PGE’s and other elements of potential economic significance
- completed over 16,000 metres of drilling to date
- developed a 3D geological model to guide drilling
- initiated metallurgical testing, geotechnical, hydrological engineering and resource modelling
Geographical Spread
Brazil
Board of Directors and Key Management
| Directors | |
| Ari Sussman | Chairman of the Board |
| Vic Wall | Director, Q.P. |
| Greg Hall | Director, Q.P. |
| John Frostiak | Director,Q.P. |
| Patrick F.N. Anderson | Director |
| Douglas Reeson | Director |
| Management | |
| Ari Sussman | Chief Executive Officer |
| Randy Reichert | President & Chief Operating Officer |
| Vic Wall | Vice President of Exploration |
| Augusto Kishida | Vice President of Business Development |
| Steve Poad | Chief Financial Officer |
| Christian Grainger | Principal Geologist |
| Heleno Costa | Vice President Operations, Serra Pelada |
| Darci Lindenmayer | General Manager in Brazil |
Company Address1 University Avenue, Suite 401
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Additional Address/Key ContactContact: |
CapitalCommon Shares Issued and Outstanding; 82,664,946
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Related News
24/08/10 - Colossus Minerals Is Cracking On With Drilling And Development Work At The Serra Pelada Gold-PGM Project In Brazil11/02/10 - Colossus Minerals Is Pushing Its High Grade Gold, Platinum, And Palladium Mine Into Production As Quickly As Possible
Most Recent Statement
02/09/10 - Colossus Minerals Inc. Announces COOMIGASP Shareholder Approval of Transfer of Mineral Rights to the Joint Venture Company and Start of Underground Development13/07/10 - Colossus Minerals Commences Drilling for the Extensions of Serra Pelada
24/06/10 - Investment Industry Regulatory Organization of Canada - Trade Resumption - Colossus Minerals Inc. - CSI, CSI.WT
02/06/10 - Colossus Minerals Commences Exploration on New Ground in the Serra Pelada Gold-Platinum-Palladium Project, Brazil
26/05/10 - Colossus Minerals Inc. Hires Luiz Carlos Celaro to Manage Mine Development at Serra Pelada
17/05/10 - Colossus Minerals Inc. Announces COOMIGASP Shareholder Approval of Agreements to Acquire 774 Hectares of Additional Ground Continguous to Serra Pelada