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Macaúbas – Advanced Investments Group: Formerly BrazIron Limited

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The Macaúbas Project is located 10km north of the township of the same name in central Bahia state, approximately 675km west of the state capital of Salvador and 298km south of the Xique Xique Project. The project comprises seven prospecting permits (including one extension application) covering a contiguous area of 6.3km².

Exploration by BrazIron has included satellite image interpretation, detailed mapping, outcrop sampling, ground magnetic surveying and drilling. Six bore holes were drilled in the main deposits, Gameleira and Campo Grande for a total of 572m.

The results to date have identified the potential for moderate tonnage low grade iron mineralisation. The preliminary metallurgy results indicate that the material displays good beneficiation potential.