GoldHaven begins preparations for exploration at Copeçal Gold Project in Brazil
Canadian junior metals exploration company GoldHaven Resources has commenced preparations for the upcoming exploration programme at the Copeçal Gold Project in Mato Grosso, Brazil.
The company has engaged Gustavo Rosa de Almeida, a Brazilian exploration geologist, to coordinate the mobilisation efforts locally.
Gustavo Rosa de Almeida brings a decade of experience in exploring various commodities across Brazil.
His recent work in the Juruena-Teles Pires Polymetallic Province with companies such as Bemisa and Aura Gold provides him with valuable regional insights.
With the acquisition of Boa Gold in January 2025, GoldHaven Resources holds complete ownership of the Copeçal Gold Project.
The company is engaging stakeholders and initiating permitting activities, with on-the-ground work expected to start within the next four to six weeks.
The focus will initially be on setting up logistics, hiring sampling crews, and establishing access and communication systems.
The initial Auger Litho-geochemical drilling programme will begin in the second quarter of 2025 (Q2 2025).
The Copeçal Gold Project is positioned within the Alta Floresta Gold Province, a region with a history of significant gold discoveries. The project covers 3,681ha within the Juruena Gold Province.
The Juruena Gold Province's potential is highlighted by the presence of multiple gold-bearing structures and the confirmation of large-scale gold deposits.
AngloGold Ashanti's systematic exploration from 2010 to 2016 identified multiple zones of anomalous gold mineralisation.
Historical data from AngloGold Ashanti's exploration at Copeçal has been compiled into a 3D model, aiding GoldHaven's geological team in planning the upcoming exploration phases.
The Copeçal Gold Project features two main targets, the East and West, characterised by extensive gold in soil anomalies.
Previous shallow hand auger drilling by AngloGold Ashanti suggests these anomalies originate from bedrock sources.
GoldHaven's exploration aims to define the anomalies' detailed geometry by testing their extent from surface to bedrock and laterally.
For the East Target, GoldHaven plans 2,000m of Auger drilling using a truck-mounted motorised Auger on a structured grid.
The drilling will penetrate the oxidised and weathered regolith profile to hard bedrock, with sample collection at 1m intervals.
Following this, an additional 2,000m of Auger drilling is anticipated for the West Target, subject to permitting.
Concurrent activities will include surface geological and structural mapping and a VLF drone survey to gather further structural and geological data.
This information will be integral to the diamond drill targeting phases that are expected to commence in Q3 2025.
In November 2024, GoldHaven Resources acquired Copper Peak Metals, securing two assets within historical districts in British Columbia.
"GoldHaven begins preparations for exploration at Copeçal Gold Project in Brazil" was originally created and published by Mining Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
EU could impose Russian oil price cap without US support, Kallas says
The European Union can impose an additional price cap on Russian oil without U.S. support, EU High Representative Kaja Kallas said at the Brussels Forum on June 11. "If you think about the oil going through the channels, it's mostly Europe, it's via the Baltic Sea, it's via the Black Sea. So even if the Americans are not on board, we can still do it and have an impact," Kallas said. The EU's 17th package of sanctions against Russia came into effect on May 20. The bloc is already working on its next wave of sanctions. The 18th EU sanctions package will include additional restrictions on energy, banking, oil, and other areas, European Commission President Ursula von der Leyen announced on June 10. "What the intelligence tells is that, now the sanctions will (harder hit) the supply chains of Russia needed to really fund this war," Kallas said. "Of course, it is important the United States... is together with us, and we have been operating together for quite some time," she said. Kallas noted the Group of Seven (G7) oil price cap was previously agreed upon to be 5% below the market price. "It is important, of course, what we do together, but it is also equally important for us what we do alone, because we alone are also a player," Kallas said. Kallas noted the EU is still an ally to the U.S., but recognized the dynamic between the two powers is changing. "We still value the relationship... I think with the Americans we are not growing apart, but growing up in our relationships," Kallas said. The upcoming G7 summit will take place in Alberta, Canada. A wide range of topics, including Russia's war against Ukraine, are expected to be discussed at the annual event. President Volodymyr Zelensky previously confirmed he would be attending the G7 summit after receiving an invitation from Canadian Prime Minister Mark Carney. Read also: 'Ukrainians have been stripped of illusion of control' — Filmmaker Kateryna Gornostai on Russia's war, cinema and reclaiming the narrative We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.

Yahoo
3 hours ago
- Yahoo
Ivanhoe restarts part of Congo copper mine; cuts output guidance
By Rishabh Jaiswal and Divya Rajagopal (Reuters) -Ivanhoe Mines said on Wednesday it had resumed underground mining in part of its Kakula copper mine in the Democratic Republic of Congo that had been closed due to seismic activity, but lowered output guidance for the year. Mining on the mine's western side resumed on June 7, while Ivanhoe will start pumping water out of the eastern side in August, aiming to finish by the year's fourth quarter. It will also look to open a new section for mining in the eastern part. The Kakula mine is part of the giant Kamoa-Kakula copper mining complex. The Canadian miner said it now expects 370,000 tons and 420,000 tons of copper output from the Kamoa-Kakula mining complex. It had withdrawn earlier guidance of 520,000 and 580,000 tonnes following seismic activity and floods in May. The company also withdrew its 2026 target of about 600,000 tonnes of copper production. "This is a significant setback for the plans at Kamoa-Kakula and leaves uncertainty about 2026 and beyond production and whether mining can resume in the previously developed area of Kakula East," analysts at RBC said in a note. The disruption is the latest in a series of supply-side setbacks that has tightened global copper supply, helping to drive margins for smelters into deeply negative territory. Co-owner Zijin Mining has not issued any statements on the mine's status since May, when it said the tremors had damaged mine roofs and could affect output. Ivanhoe subsequently disputed Zijin's statement, although it later withdrew guidance. Zijin did not immediately respond to an emailed request for comment about Ivanhoe's latest statement.
Yahoo
5 hours ago
- Yahoo
Lululemon Athletica Stock (LULU) Plunges 23% as Tariff Pressures Eclipse Earnings Beat
Lululemon Athletica (LULU) shares have declined more than 20% following the release of its quarterly earnings report last week, as investors react to tariff-driven margin concerns and slowing revenue growth. The Canadian athletic apparel brand is beginning to feel the weight of reality in the Trump era following the introduction of sweeping tariffs, while also facing headwinds in its core U.S. market due to tightening discretionary spending and intensifying competition. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Several analysts have since lowered their price targets on the stock. Upon closer examination, several underlying trends raise concerns, prompting a cautiously neutral stance. Despite posting a solid earnings beat for Q1 FY2025, Lululemon (LULU) experienced its steepest single-day drop in years after trimming its full-year EPS guidance by $0.37 per share. While gross margins improved to 58.3% thanks to lower production costs, operating margins slipped 110 basis points to 18.5%, highlighting mounting pressure on profitability. Additionally, comparable store sales grew just 1%, with a 2% decline in the Americas—a concerning trend for the brand's largest market. Notably, it's not just the top-line numbers that tell the story. Lululemon's inventory levels increased 23% versus planned high-teens growth. More and more of its products are collecting dust on its shelves. This could signal demand softness. Lululemon has struggled in the past with its women's apparel aligning with ever-changing trends. Though based in Vancouver, Canada, Lululemon is still exposed to the impact of President Trump's tariffs. Like many apparel retailers, the company relies on Asian manufacturing partners in countries such as Vietnam and Indonesia, importing finished goods into key markets, particularly the U.S., which remains its largest. As a result, the renewed import levies are a significant factor behind the company's downward revision to its earnings guidance. Regardless of the troubles the company faces on a macro level, its store count continues to rise as expansion beckons. Lululemon plans to implement targeted price increases on a select group of products. While this strategy can help support margins, it also carries the risk of dampening demand. After all, Lululemon isn't selling necessities—it's offering premium athletic apparel. In tougher financial climates, price-sensitive consumers may opt to delay purchases or explore more affordable alternatives. A recent Intuit survey found that over 80% of young adults would reduce non-essential spending if economic conditions deteriorate. That puts Lululemon in a position where it must balance profitability with consumer sensitivity. Indeed, other retailers are facing similar challenges, but it's not all negative news for Lululemon. While domestic growth has slowed, the company is seeing strong international momentum. Comparable sales outside the U.S. increased by 6%, with particularly auspicious results in China, where Lululemon ranks as the third-largest foreign sports apparel brand, following Nike and Adidas. Building on this success, Lululemon plans to expand its presence by opening additional stores in China and Europe. In the meantime, other companies competing directly with LULU are shown below. Perhaps the most significant factor in LULU's volatile stock reaction was the fact that it was priced for perfection. Even after the selloff, Lululemon trades at a Price to Earnings (P/E) ratio of 22.7, which is still a premium relative to its peers in retail. Financially, Lululemon remains in great shape. It generated over $1.5 billion in free cash flow in 2024 and maintains a balance sheet of $1.3 billion in cash and zero debt. On Wall Street, LULU sports a Moderate Buy consensus rating based on 16 Buy, 12 Hold, and two Sell ratings in the past three months. LULU's average stock price target of $313.75 implies ~21% upside potential over the next twelve months. Following its first quarter earnings report, analyst Tom Nikic of Needham lowered his price target on LUL from $366 to $317. Although he believes the selloff was overdone due to the guidance cut being predominantly tariff-driven, he expressed caution over the company's lackluster domestic growth. Moreover, he noted that Lululemon's international comparable growth decelerated, 'raising questions about the growth algo from here.' Randal Konik from Jefferies has a Sell rating on LULU due to slowing growth and increasing competition. On the last point, he notes that the company's attempts to diversify its core offerings have 'not been well-received, leading to lower customer conversion rates.' Lululemon's challenges can't be attributed solely to President Trump's tariffs. Beyond the impact of import levies on profitability, the company's growth is showing signs of slowing, especially in mature domestic markets. Coupled with a premium valuation and a lowered guidance, these factors contributed to a staggering $8 billion loss in market value. Looking forward, Lululemon must navigate the ongoing tariff pressures alongside intense competition and an American economy marked by consumer uncertainty and inflation. Fortunately, the company has the financial strength to weather these headwinds, and its brand remains strong, especially among younger consumers. That said, the difficulty of protecting profit margins while sustaining high growth in an increasingly competitive athleisure market suggests that investors should approach with caution. Disclaimer & DisclosureReport an Issue