Summary

Mine Type	Open Pit
Status	Care and Maintenance
Commodities	Gold
Mining Method	Truck & Shovel / Loader
Production Start	...
Snapshot	The São Francisco Gold Mine is a part of Apoena (EPP) Mines. Mining at Sao Francisco was suspended in October 2016. Currently, the mine is in care and maintenance. In August 24, 2023, Aura MineralsInc. entered into an Asset Purchase and Sale Agreement with a potential buyer to sell all mineral rights, assets and liabilities related to São Francisco Mine (part of the Apoena Mine segment). The acquisition price was set at $9,000 of which $1,000 has already been received. The agreement includes different precedent conditions to be met in order to complete the sale of the asset. As of December 31, 2024 all conditions have been met, except the transfer of the mineral rights to the buyer, which is awaiting the final authorization to be issued by the Brazilian National Mining Agency.

Deposit type

• Vein / narrow vein
• Breccia pipe / Stockwork

Summary:

The Sao Francisco Mine is a shear hosted lode gold deposit. It is epigenetic, structurally controlled, and composed of narrow, 1 to 5 cm wide, quartz veins containing free gold. The veins and vein systems and stockworks both parallel and crosscut the bedding planes and appear to represent separate but closely related ineralizing events.

The local rocks at the Sao Francisco Mine have been subjected to low-grade metamorphism. They consist of fine to coarsegrained meta-arenites (metamorphic sandstones), with locally reddish-coloured metapelites (metamorphic mudstones) and occasionally metaconglomerates (old pebble beds) of the Fortuna Formation, the basal unit of the Aguapeí Group. The metaconglomerates are composed of quartz pebbles and grains set in a siliceous sandy matrix. Primary sedimentary structures such as cross-bedding, graded bedding, and ripple marks are commonly observed.

Mineralization is enclosed by a hydrothermal alteration zone (“HAZ”). The HAZ occurs as a regular steeply dipping tabular zone; the depth of the HAZ has yet to be defined by drilling. Alteration associated with mineralization in the HAZ consists of silicification and occasional sericite and chlorite.

The gold occurs as free gold and frequently as coarse nuggets measuring several millimeters in diameter with the quartz, as laminations along the fracture planes, and within limonite boxwork after pyrite and arsenopyrite.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		May 5, 2025

Employees	Contractors	Total Workforce	Year
......	......	......	2016
......	......	......	2015