The 100% owned Paramirim Gold-Copper Project located in west-central Bahia state, Brazil, was acquired by Castillian through its acquisition of Tucano Resources (See Press Release dated January 29, 2010). The Paramirim project consists of 35 mineral concessions covering more than 39,000 hectares. This project covers a favourable belt for both IOCG-style mineralization and orogenic gold that extends some 80 km along strike. There are extensive garimpeiro (artisanal miner) workings along the belt for both gold and copper. Work completed by Tucano includes geological mapping, sampling and approximately 2,000 metres of reconnaissance drilling, which has defined a number of follow-up targets. The project is discussed in detail in a NI 43-101 technical report prepared by B. Terrence Hennessey, P.Geo. of Micon International Limited that is available on Sedar.
Castillian is currently seeking to joint venture or divest this project.