Faina, located in Goias state, Brazil, consists of various prospective tennaments and is the location of one of the company's primary focuses for its hub and spoke strategy, Sertão. Sertão is known for its super high grades with production planned for 2023 and processing to happen at the PGDM 4,500 tonne per day plant.
Below is a map outlining Faina's principal projects:
1. Sertão
Also known as "Rio de Oro" or "River of Gold", this was one of the highest grading open pit mines in the world from 2003 to 2006. Pilar Gold started its drilling program in July 2021 to delineate the continuation of the high grade ore body on the downplunge. Results have been extremely encouraging to date, with an average grade for all unmined mineralised drill holes of 1.3 meters at 40.5 g/t Au.
Near Term Plans for Sertão
- Initial resource estimate currently in progress (2022) with plans to go into production in early 2023
- Expected grades of 15-20 g/t Au will be trucked to PGDM's 4,500 tonnes per day plant
Key Highlights
- Shallow open pit mine with historical production of 256Koz at average grade of 29 g/t Au
- Stage 4, 5 and Stage 6 (unmined) are the near-term focus for our drilling campaign that started in July 2021
- Stage 4 - Q4 2021: Sertão drilling at Stage 4 returned 0.5m @ 208 g/t from 128m and 0.5m @ 74.8 g/t from 125m.
- Stage 5 - Q4 2021: Noteable results so far have returned 2.5m @ 33.8 g/t, 2m @ 11.8 g/t and SRC132 1.9m@12.4g/t Au
- Existing JORC historical estimate of 49Koz @ 6.9 g/t appears conservative
2. Cascavel
- A potential tier 1 high-grade underground gold operation.
- Open down dip and along strike.
- Highest grade panel sample 2,000 g/t, and the average Au grade panel samples in Mestre lode is 50.7 g/t.
- 17.56m @ 1,263 g/t Ag Drilled by Accident in 2013 that Pilar intends to follow up
- High-grade Silver anomalies have been identified in the dolomintes packages 20m below the Cascavel veins, related with a younger polymetallic hydrothermal system.
- Espanhola: Old garimpeiro mine north of Cascavel.
Cascavel plant after 2021 refurbishment
3. Antena/ Xupé
Potential satellite open pit gold project. Drilled 21.7 metres at 4.49 g/t in March 2018.
- Plans for potential restart of Sertão mine and Antena- Xupé satellite pits similar to the old Troy configuration.
- Antena-Xupé is 8km from Cascavel mill with existing haul road, Troy operated 5 small open pits in this cluster.
- Situated inside existing mine leases making it possible to ‘fast-track’ a restart.
- Thicker mineralization than Sertão.
- Immediate shallow extension drilling to old open pits include:
- 44m grading 1.48g/t Au from 11m below surface, including 23m grading 2.4g/t Au from 16m; and
- 6m @ 4.48g/t Au from 33m depth located 440m down-plunge from the old Xupé pits in an eroded anticline
- 4m @ 5.54g/t Au from 37m
4. Sierra
- 5 km trend with same metaconglomerate type of Eliseo Target, mapped and with several rock chips with high grade gold.
- Located 6 km distance from Cascavel Gravity Plant
5. Tinteiro
Polymetallic prospect with potential for a large IOCG system; drilled 17.6m @ 1,292 g/t silver with best silver rock chip sample grading 4,200 g/t.
- 1km from Cascavel, 20km from the Sertão gold mine and immediately adjacent to the Antena-Xupé gold targets.
- Previously released rock chip samples of 4,200 g/t silver in June 2014 along with gold, cobalt, copper, nickel, barium and tungsten.
- 3 ALS lab test rock chip samples returned 1.54%, 1.65% and 1.75% cobalt. In June 2018 a sampling program consisting of 54 samples.
- No drilling has been conducted on this target for 6 years.
- Tinteiro is a standout drilling target in2022.