Misty Hills (Serra do Sereno)
The Serra do Sereno project is located in Carajas Mineral Province, known worldwide as a distinct geologic region, hosting Brazil's largest known iron, copper and gold deposits. In addition, there are world-class mines of nickel, manganese and bauxite in the Province. Gold Hills Mining, Ltd had aquired 70% interest from local Cooperative of Miners with option for remaining rights after initial exploration.
Area of 10,000 hectares is located on undulating plain that lies between 170 and 230 meters above sea level. Asphalt road is located as close as few hundred meters from western border of the property.
Serra do Sereno was initially prospected by Anglo American with significant indications of gold and copper presence. The property appears to be an extension of neighboring iron ore/copper/gold zone in which millions of ounces of gold have been confirmed.
Anglo American previous exploration efforts identified a large gold and copper trend.
Mineralized zone as identified by Anglo American:
- Delineated elongated zone of approx. 20km x 3km
- Follows the "Cinzento Shear Zone" for 20km
During 2005-2008 local cooperative extracted copper and gold from Grota Rica quartz vein. Open pit was made down to 12-15 meters and small shafts went a bit deeper. All of them are currently flooded with water.
Sattelite image of old flooded open pit, similar to Serra Pelada pit
Copper mineralizationis is 0.5% - 3%, gold mineralization up to 10g/t as was stated by local miners.