Ardent Mines Appoints Luciano de Freitas Borges as President
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Ardent Mines’ board of directors has appointed Luciano de Freitas Borges as president.
“Ardent Mines has made significant progress this past year, having acquired two premier gold properties in Brazil, Gold Hills and Misty Hills. In addition, we completed the 43-101 exploration report on Gold Hills which confirmed an exploration potential of between 3.6 Mt and 6.0 Mt at an average grade between 4.0 g/t to 7.0 g/t. I am looking forward to advancing our exploration programs to prove up the resource potential and expected solid economics of these projects,” said Mr. Borges.
Mr. Luciano de Freitas Borges has more than twenty eight years experience in Brazil’s mining industry, both in the government and private sector. He served as the National Secretary of Mines and Metallurgy in Brazil’s Ministry of Mines and Energy from 1993-2001, and as senior advisor to the Ministry & Strategic Planning Executive Officer to the Brazilian Geological Survey since 2002. From 2007 to 2008, he was CEO of Steel Mineracao do Brasil, and since 2006, he has served as the senior partner and CEO of Ad Hoc Associated Advisors, a technical advisory consulting firm for the mining industry. He currently serves as a director on the boards of Amerix Precious Metals Corporation and Ouro Roxo Participacoes, each of which are developing gold projects in Brazil. Mr. Borges earned his undergraduate and post-graduation degrees in geology at the University of Brasilia, as well as having an MBA in Mineral Economics and Mineral Projects Valuation from other institutions.
Gold Hills/Serra do Ouro
Based on the results of the 43-101 exploration report and historical drill data from the area, the company believes Gold Hills could contain a few million ounces of gold of excellent grade that should be extracted at very viable costs as the main vein is located at an average depth of 30 to 50 meters from the surface. Also, the report did not take into account any untested potential for parallel structures which can be interpreted from the airborne geophysics. Further enhancing the economics of the project is the ten year income tax holiday Ardent expects to receive based on local incentives for investments in this semi-arid area of Brazil.
Misty Hills/Serra do Sereno
On October 18, 2011, Ardent Mines closed on its acquisition of the mineral rights in a highly mineralized area of 9,000 Hectares located in the Carajas Mineral Province, State of Para, with an option exercise payment of $350,000 to the Cooperativa dos Produtores de Minerios de Curionópolis. The Serra dos Carajás Mineral Province is a distinct geologic dominium, well known worldwide for hosting Brazil’s largest iron, copper and gold deposits. Ardent Mines property, named Serra do Sereno, or Misty Hills, was initially prospected by Anglo American Brasil Ltda. which identified gold and copper trends. Millions of tons of copper and millions of ounces of gold resources have been confirmed in areas which are in the same region as Misty Hills and new significant discoveries are still being made in the area.
About Ardent Mines
Ardent Mines has positioned itself to develop low cost gold mining operations in Brazil, a mining friendly jurisdiction. Ardent Mines owns a 100 percent interest in Gold Hills Mining, which in turn owns mineral rights on 3,500 Hectares, covering a highly mineralized vein containing high grades of gold. Ardent Mines also owns the mineral rights on the Serra do Sereno (Misty Hills) property, located in Carajas, Brazil, one of the better known mining districts in the world. Ardent Mines is headquartered in New York, and has a field office in Brasilia.
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