Sertao

Amazônia has acquired 30% of the Goiás Velho Project in Brazil including the high grade Sertão Gold Deposit. Amazônia's joint venture partner is Troy Resources NL (70%), an Australian-based gold mining and exploration company.

The Sertão Deposit is an open-pittable, oxide orebody that contains a Reserve of 228,900 t @ 18.78 g/t Au, equivalent to 138,200 ozs of contained gold. The Sertão Horizon is close to the centre of a 100 m thick sequence of hydrothermally altered schists within a mafic volcanic package (meta-basalts). Mineralization is structurally controlled with primary mineralization characterised by thin (<20cm) quartz rich zones with 30-40% sulphides (pyrite, arsenopyrite) & visible gold.

The purchase of the Project, from a subsidiary of WMC Ltd, also includes substantial exploration potential over ∼600 km² of project tenements. Four target areas, marked by gold bearing gossans, anomalous rock chip values and soil anomalies, have been identified to the north of the Sertão Deposit. First pass drilling to test these targets commenced in August, 2002.