Overview
Colossus Minerals Inc. is an exploration and development company focused on gold and platinum group metals projects in Brazil. Led by a skilled management team, the company is managing and developing the well sought after Serra Pelada project, a Colossus-COOMIGASP joint venture. Since their IPO in February 2008, Colossus has continuously announced spectacular high-grade results from their drilling program at Serra Pelada.
Highlights
- The Serra Pelada Gold-Platinum-Palladium Deposit: Colossus Flagship Project
- One Additional Gold Project
- Experienced Management Team, Locally & Internationally
- High Quality Ounces, Potentially Low Cost Producer
- Unique Combination of Precious Metals
Chief Properties
Serra Pelada
Colossus Minerals’ flagship project, Serra Pelada, hosts the famed high-grade gold-platinum-palladium deposit. At resource delineation stage, the project is being advanced towards production by a COLOSSUS-COOMIGASP joint venture. Under the joint venture, Colossus can earn up to a 75% interest in the Serra Pelada project.
Serra Pelada is situated in the mineral prolific Carajas region near the towns of Curionopolis and Parauapebas, Para State, northern Brazil, where access and infrastructure are excellent.
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 (Cabral et al, 2002) (view long section of open pit).
The company’s has recently completed a 5,130-metres, 17 holes, phase I drilling program at Serra Pelada with drill results including:
- SPD-002: 46.72 m @ 24.11 g/t gold, 6.11 g/t platinum and 11.57 g/t palladium, and 14.65m @ 22.51g/t gold, 4.56 g/t platinum and 5.01 g/t palladium
- SPD-013: 23.00 m @ 20.68 g/t gold, 3.26 g/t platinum and 3.91 g/t palladium including 7.5 m @ 54.62 g/t gold, 8.64 g/t platinum and 9.95 g/t palladium
Phase II of Colossus’ drilling program at Serra Pelada commenced in January 2009. The 5000 metre program involves step-out drilling towards the historic Serra Pelada open pit as well as further resource delineation work on the Central Mineralized Zone.
Natividade
Mainly to the south of, but encompassing the town of Natividade in Tocantins State, Brazil, the project area comprises two contiguous exploration licences aggregating 10,000 hectares. Most of the area comprises sparsely vegetated scrublands with minor low intensity agricultural development. The project is in an area of excellent infrastructure.
Colossus, the project operator, has concluded an option agreement with Terrana Mineradera Ltda (a Brazilian private company) to acquire a 70% interest in the Natividade project.
A phase I scout drilling program was recently conducted and the results were favorable including 2m @ 34.91 g/t gold and 19m @ 7.72 g/t gold. In January 2009, Colossus successfully negotiated a one-year extension on both the option payments and exploration expenditure schedule on the Natividade project. Assuming more normalized market conditions, Colossus intends to conduct a phase I reverse circulation drilling program during the second half of 2009.
Management
- Ari Sussman – CEO and Chairman. Over 10 years experience in negotiating and operating projects in Latin America, founder and key executive of Titanium Corporation
- Vic Wall, PhD – President and QP. Over 35 years experience in mining and research, co-winner of the Goldcorp Challenge in 2001
- Augusto Kishida, PhD – Vice President of Exploration. Over 35 years experience in mining in Brazil, majority of career spent in various positions at Vale, discoveries his credit include Fazenda Brasileiro gold deposit (Yamana) and the Catalao phosphate deposit (Anglo American)
- Chris Grainger, PhD – Country Geologist, Brazil. Over 10 years experience in the mining industry, completed doctorate on Serra Pelada
- Heleno Costa – Vice President of Operations. Geologist and political/community relations expert
- John Ross, MBA, CA – Chief Financial Officer. Over 20 years experience in the mining industry, former CFO of FNX Mining and Iamgold
Board of Directors
- Ari Sussman – CEO and Chairman
- Vic Wall, PhD – President and QP
- John Frostiak, P.Eng – Qualified Person. Over 35 years experience in mining and research, current Manager, Metallury and Process Development for Barrick Gold Corp, lead developer of both Pierina Mine and Bulyanhulu Mine for Barrick
- Patrick F.N. Anderson. Over 14 years of international experience, President and CEO of Aurelian Resources, co-credited with discovery of FDN Deposit in Ecuador
- Greg Hall – Qualified Person. Over 35 years experience in the mining industry, chief geologist –world wide of Placer Dome until the Barrick takeover, credited discoveries include Granny Smith Mine (Barrick), Yandi Mine (Rio Tinto)
- Douglas Reeson, MBA. Current CEO of Gossan Resources and a director of Mega Uranium
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Stock Exchange:
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82,276,308
12,097,960
4,250,000
0
98,624,268
~$12 million
TSX.V : KTN
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Mon, Mar 30, 2009
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