Geologia Econômica 2º Sem 2019 Adaptado por Profa. Rosaline C Figueiredo e Silva - Dept.

Geologia

Depósitos de Ouro
Orogênico em
Sequências meta-
vulcanossedimentares
DEFINIÇÃO
CARACTERÍSTICAS PRINCIPAIS
ALTERAÇÃO HIDROTERMAL
MODELOS
FLUIDOS
EXS. E RESERVAS

Key Review Papers:

1. Groves et al., 1998 in Ore Geology Reviews, vol 13

2. Hagemann et al., 2000 in Rev Econ Geol , vol. 13 ‘Gold in 2000’
3. Goldfarb et al., 2001 in Ore Geology Reviews, vol. 18
4. Groves et al., 2003 in Econ. Geol., vol. 98
5. Goldfarb et al., 2005 in Soc Econ Geol 100th Ann Vol
6. Robert et al., 2005 in Soc Econ Geol 100th Ann Vol
7. Goldfarb & Groves, 2015 in Lithos
 Waldemar Lindgren (1913, 1922, 1933)
 Mesothermal Au mineralization

1970’s and 80’s

 Syngenetic, VHMS type
Orogenic Gold Systems
1990’s
 Epigenetic, continuum low to high
crustal levels

2000’s
 Orogenic gold mineral system

Aula Steffen Hagemann

 DEFINIÇÃO

Inferred crustal levels of gold deposition showing the different types of gold deposits and
the inferred deposit clan (from Dubé et al., 2001c; modified from Poulsen et al., 2000).
 Depósitos lode-gold orogênicos - Definição

Tipicamente associados com blocos mesocrustais deformados e

metamorfisados, particularmente em associação espacial com
grandes estruturas crustais. Formam-se em uma variedade de
ambientes tectônicos acrescionários ou colisionais relacionados a
cinturões orogênicos antigos a jovens, em escala global, como
parte integral da evolução da acresção ou colisão de terrenos
relacionados à subducção nos quais as rochas hospedeiras
formaram-se em arcos, retroarcos, ou prismas acrecionários.

A associação espacial e temporal é consistente com

granitóides de uma variedade de composições, assim
indicando que ambos fusões e fluidos eram produtos inerentes
de eventos termais durante a orogênese.
substituição
Rochas intrusivas
REDUCED INTRUSION RELATED OROGENIC In Robert et al. (2007)
Turbidito - são formados a partir de fluxos de correntes de
turbidez ou correntes de densidade. Ao se depositarem, é
formado um estrato característico (sequência Bouma), por
decantação seguida de tração.

Afloramento de turbidito
mostrando típica
sequência de Bouma,
figura de Perinotto (1992).
 Trap Site - Deposit Scale: Depth Control
Structural control occurs on
scales from deposit to individual
ore shoot:
– Epizonal:
- fault zone,
- breccias, reefs, ±qtz-carb veins

– Mesozonal:
- brittle-ductile to ductile shear
zones, massive replacement,
shear veins, granite-
greenstone contact

– Hypozonal:
- ductile shear zones, massive
replacement
Aula Steffen Hagemann
Fig. 2. Orogenic gold deposits can form over a variety of depths, from as shallow as 3 km to as deep as 20
km, typically during late orogenic shifts from compressional to transpressional or transtensional regimes. The
majority of deposits form in the greenschist facies or at the greenschist–amphibolite boundaries from
aqueous-carbonic, high δ18O fluids that have moved upward along trans-crustal fault zones.
Modified after Groves et al. (1998). Goldfarb & Groves (2015)
Trap Site - Deposit Scale: Structural Control
• Strike-slip faults: Wiluna, Golden Mile, Ross, Kirkland Lake
• Brittle-ductile shear zone: Victory-Definace, Coolgardie
(Bayleys)

• Ductile shear zones: Kerr Addison, Sons of Gwalia, Yellowknife,

Hemlo, Marvel Loch

• Thrust faults (granite-greenstone contact): Tarmoola,

Granny Smith

• Veins (reef) hosted: Sigma, Hollinger, Dome, Kerr Addison,

Kolar (Champion reef), Norseman, Westonia

• Sheeted quartz vein sets (stockwork): Mt Charlotte, Hill 50

Centenary

• Fold hinge zone: Musselwhite, Lupin, Nevoria, Copperhead

Aula Steffen Hagemann
 Trap Site - Deposit Scale: Control of
Structures
Structures are controlled by:
• Lithology of hosting successions
• Contrasts in rock competency
• Shape of granite-greenstone contact
• Crustal depth
• Lateral fluid pressure and variations in mean
rock stress
• Regional strain state

Aula Steffen Hagemann

 Trap Site - Deposit Scale:
Mineralization Style

• Deposit scale structures control the

mineralization style

• Mineralization style (Hodgson, 1989; Hronsky et al., 1990)

1. Shape (ore shoots): tabular, linear (pipes), lozenge,

2. Form (texture): breccia, cockade textures, replacement,

disseminated, stockwork, foliation (pressure-solution
cleavage), sheeted quartz vein set, single shear vein,
extension vein, laminated (crack-seal), boudinage

Aula Steffen Hagemann

 Trap Site -
Deposit Scale:

Mineralization
style: Shape

Example: Moonlight - Wiluna

 Iron carbonate breccia vein, Red Lake mine,
Ontario.

Mother Lode fault-fill laminated vein with

associated flat extensional vein, California.
 Trap Site - Deposit Scale:
Geometry Ore Shoots
Geometry of ore shoots depends on:
• Geologic complexity, rock rheology, paleocrustal
depth of formation
• Lithologic complexity-mechanical heterogeneities
• Rheological differences; sediments (ductile shear
zones) granites (conjugate quartz vein sets)
• Chemical favorable horizon (BIF or iron-rich sill)
• Mechanical anisotropy of previously weakly
anisotropic rocks (hydrothermal processes that
result in change in the rheology)

Aula Steffen Hagemann

 Filito
R o chas
Filito pelítico ás ticas carbonoso
vulcano cl

Substituição de
minérios de Au
Filito pelítico
FFB fácies ó xido, carbonato

Rocha máfica não mineralizada

rica em Fe
H2 O-CO2

Falha de
segunda-ordem
Zona de cisalhamento
no greenstone
principal

Depósitos
Sucessão de veios Au
Greenstone belt Successão
H2 O-CO2
Greenstone belt
H2 O-CO2

Aula Profa. Lydia

Aula Profa. Lydia
 Spatial Distribution

World distribution of greenstone-hosted quartz-carbonate vein

deposits with at least > 30 t Au
Dubé & Gosselin (2007)
Figure 2. Schematic world map showing interpreted age of basement rocks and
distribution of giant orogenic gold, Carlin-type, IRGD and IOCG deposits. Figure
adapted from Goldfarb et al. (2005) and Groves et al. (2010).
 ARQUEANO
Diferentes tipos de depósitos de ouro

•Deposit classes: Orogenic Au, intrusion-related/porphyry Cu-Mo-Au, Au-

rich VHMS, ?epithermal

• Represent ~20% of world production (excluding

conglomerate-type, Witswatersrand deposits, S. Africa)

• „Giant‟ deposits: Golden Mile (Yilgarn), Hollinger-

McIntrye (Superior), Kolar (Dharwar)
• Deposits cluster in gold „camps‟; majority of
production from camps
• Abundant in many Archean cratons - Superior,
Yilgarn, Tanzania, Dharwar, Zimbabwe, Kaapvaal
• Limited in other cratons - Karelian, Pilbara,
Greenland Aula Profa. Lydia
GIANT GOLD DEPOSITS > 1000t Au

Sources: Goldfarb (2006) after R. Foster (2002)

 Depósitos de Ouro
Orogênico em
Sequências Meta-
vulcanossedimentares

Características
Principais
Characteristics of Orogenic Gold System
1. At or near terrane boundaries (or other
crustal-scale faults)
2. Hosted in volcano-sedimentary rocks
and granites - can be metamorphosed
from PP to AF
3. Strong structural control in lower-order
structures
4. Large vertical extent with subtle vertical
zonation
5. Upper to mid-crustal level – epi to
mesothermal – alteration: typically
sericite, biotite, albite and carbonate
alteration
7. Characteristic addition of SiO2, K, Na
8. Ore metals : Au only +As+Sb+Te+W
with generally low Pb-Zn-Cu
9. Low salinity H2O-CO2 + CH4 ore fluid
10. Mixed fluid (metal?) source: mantle-
magmatic-metamorphic-surface water
Hagemann and Cassidy (2000)
 Au mineral systems
– what are the critical processes?
Sub – PRESERVATION
Greenschist
s1 s1
Mid -
Dolerite SCRUBBER & THROTTLE
Greenschist
Sedimentary Sequence
Volcanic Rock
ACTIVE PATHWAY(S)
FLUID RELEASE &
Amphibolite
MIGRATION
Metamorphic Fluid
Distal Granite
Magmatic II SOURCE(S)
Fluid
Granulite
Metamorphic Fluid

after Groves 2005 Granite I Fluid from Subcreted Oceanic Crust

Hydric Fluid from Mantle Aula Steffen Hagemann

 Migration of Fluids: Pathway Architecture
• „Y-front‟ model (Hall, 1998; Ord et al. 1998):

– based on interpretation of seismic profiles for eastern Yilgarn

Craton development of regional hydrothermal cells role of
linked transcrustal fault zones that link entire crustal sections
thermal and fluid flow modeling suggests fluid convection
along major structures - able to transport large volumes of fluid
from deep sources model is simplistic but is one of first
interpret regional 3D fluid flow
3D Model of the northern Kalgoorlie
Terrane
Surface Geology and Seismic
N Lines

Detachment
Ida Fault Surface
Bardoc Shear

Moho
 Greenstone
Layer

‘Y’ Front
Model
Courtesy CSIRO
Complexos  [Au(HS)2– , HAu(HS)20 and Au(HS)0]
 Estruturas
encaixantes de
depósitos na área
de Menzies-
Kambalda
(Austrália). Escala
variável e
aproximada.
Falta o estilo de
“substituição”
típico das BIFs.
Cawood & Hawkesworth (2013)
Fig. 1. Temporal distribution
of orogenic-type (grey,
updated from Goldfarb et al.,
2005) and conglomerate-
hosted (yellow, this study)
gold in comparison with
number of modern river
detrital zircon U-Pb ages as
proxy of continental crustal
growth (Spencer et al., 2017)
and proprtion of juvenile crust
(Belousova et al., 2010). (For
interpretation of the
references to colour in this
figure legend, the reader is
referred to the web version of
this article.)

Frimmel (2018)
Faixa de idade dos depósitos

2.64-2.63 Ga
em Goldfarb et al. 2000
 Depósitos de Ouro
Orogênico em
Sequências Meta-
vulcanossedimentares

Alteração
Hidrotermal
Esquema simplificado mostrando o fluxo de
fluido hidrotermal ao longo de uma direção
preferencial e sua difusão lateral.
 Esquema hipotético
mostrando o fluxo de
fluido hidrotermal ao
longo de um conduto
preferencial,
desenvolvido em zona
de cisalhamento, e a
distribuição de zonas
de alteração laterais
(setas amarela, marrom
& verde) no envelope
de veio mineralizado
(seta vermelha).
 Ex. fluido interagindo com rocha
máfica:
H2O a = 0,8
CO2 a = 0,15
Sais, S, Au & a = 0,05
outros metais

Zona DISTAL da clorita (± carbonato, raro sulfeto) 

fixação de H2O

Zona INTERMEDIÁRIA do carbonato (±clorita,

algum sulfeto)  fixação de CO2

Zona PROXIMAL do sulfeto-Au (sericita, ±carbonato)

 fixação de S & Au

Veio de quartzo-sulfeto-Au (±carbonato)  fixação de

SiO2 (liberada da hidratação, carbonatação & sulfetação de
silicatos)

Aula Profa. Lydia

Eilu et al. (1999)
 Depósitos de Ouro
Orogênico em
Sequências Meta-
vulcanossedimentares

Modelos
Tectonic Setting Gold Deposits
Goldfarb & Groves (2015)
Lithospheric-scale processes related to orogenic gold mineralisation
CRUSTAL THICKENING PLUME IMPACT/SUBDUCTION

Hg- Sb Arc
Accreted Au
oceanic crust Au

Mantle
plume
head

Groves (2005)
SUBDUCTION ROLLBACK OCEANIC RIDGE SUBDUCTION
Extension in Extension
continental crust
Au
Au

Slab
rollback
Asthenosphere Asthenosphere
upwelling upwelling
Goldfarb & Groves (2015)
MODELO GENÉTICO - Lamego

Morales et al (2015)
Figure 1. Schematic representation of
the variety of previously proposed
(mostly nonviable) models for gold and
fluid sources in the crust: from meteoric
water circulation and lateral secretion,
magmatic-hydrothermal fluid exsolution
from various granite types, to
granulitization and metamorphic
devolatilization processes. Syngenetic
exhalative model is not shown, but
could be represented by the hot springs
at surface in the figure. Figures from
Groves et al. (1998) and Goldfarb et al.
(2005) used as a base for this figure.
Groves & Santosh (2016)
Figure 5. Schematic representation of the conjunction of parameters responsible for the formation of Archean orogenic
gold deposits. Similar principles apply to younger deposits but host rocks are different and control potentially more
subtle. As the sketch is a cross section, only the vertical components of transpressional faults are shown; there is
clearly a strike-slip component. Oblique fault sets that represent accommodation structures are not shown for the same
reason, but are an important additional parameter.

Groves et al (2015)
 Metamorphic Fluids
During metamorphism fluids are
generated by dehydration and
decarbonation reactions.
Initially, fluids migrate along grain
boundaries and along layering until
they intersect shear zones or faults
where fluid flow becomes more
focused.
Fluids may also be trapped under
impermeable layers where they
build pressure until fracturing
occurs - this process may be
repeated many times during the
metamorphic history.
Fluids that eventually end up in
From Cartwright & Oliver, Reviews in Econ. Geol., v. 11 (2000) shear zones may have swept
through large volumes of rock,
scavenging and delivering metals to
shear zones where they may be
deposited in economic
concentrations.
 
Carbonaceous
pelites

Schematic representation of the variety

of previously proposed (mostly
nonviable) models for gold and fluid
sources in the crust: from meteoric
water circulation and lateral secretion,
magmatic-hydrothermal fluid exsolution
from various granite types, to
granulitization and metamorphic
devolatilization processes. Syngenetic
exhalative model is not shown, but
could be represented by the hot springs
at surface in the figure. Figures from
Groves et al. (1998) and Goldfarb et al.
(2005) used as a base for this figure.
Groves & Santosh (2016)
 FLUIDOS MINERALIZANTES
 soluções aquosas

 salinidade < 6 eq.% peso NaCl ( < 2eq.% NaCl )

 10 a 30 mol% CO2 (15 a 25 mol%)

 CH4, N2, e H2S em concentrações subordinadas

 pH neutro a levemente alcalino: sericita - albita; raramente K-feldspato

 fluidos geralmente de caráter redutor: pirita + arsenopirita + pirrotita

 caráter oxidante em alguns depósitos (e.g. Golden Mile, Australia, 1285 t

Au): hematita + magnetita + barita

 200°C a 400°C (250° - 350°C; 8 - 15 km)

 1 kb a 4 kb (1 - 3 kb)

Geologia Econômica (GE-803) UNICAMP

Gaboury (2019)
 Fluids - Redox variations

-26
Hem logfO2 versus logaS diagram
-26
Hem for 350Oc, 2 kb and SO4 = 103 aSO4=
-27 -
2-
-27 SSO 4
-
2-
SSO 4
H2S
-28 H2S
-28
aS = activity of the sum of sulphur species
XCO=.25
2
XCO =.25 Mag
Mag Py
Py
-29
2
Sd fO2 = oxygen fugacity
Log fO2 versus aS diagram for 350°C, 2 kb and SO4 = 103 aSO
logf O2

-29 Sd
Mag
Mag
-30
Patterned areas are likely fO2 and a S conditions for typical sub-amphibolite facies gold deposits.
Bn Mag
CCp

-30
Bn P
Ccp

Stability boundaries for Fe-sulfide and Fe-oxide phases are shown as heavy solid lines: light
y

-31
-31 CO2CO2 solid lines and dashed lines show reaction boundaries for Cu- and As-bearing phases, and
CH4 CH 4
carbonate phases (at XCO2 = 0.25), respectively. Heavy dashed lines are important aqueous
redox buffers. Ore fluid conditions for 'reduced' greenschist facies lode-gold deposits are
Py A

-32
Po
Po
Ap y

limited by the assemblage pyrite pyrrhotite arsenopyrite siderite, and fluid inclusion
s

350ºC
350ºC
22 kb
kb constraints that suggest CO2 /CH4 1.0. As = arsenic metal; Apy = arsenopyrite; Bn = bornite;
Sd
Po

-33
-33
-5 -4 -3 -2 -1 0 1 Ccp = chalcopyrite; Hem = hematite; Mag = magnetite; Po = pyrrhotite; Py = pyrite; Sd = siderite
-5 -4 -3 -2 -1 0 1
log (Mikucki and Ridley 1993,Mikucki & Ridley
logaaSSSS
Mineralium
(1993)
Deposita 28/6: 469-481).
Arsenopirita forma a custa
de pirita
FeS2  AsFeS2

200X
 Gold source & precipitation
Possible sources of Au
• Pyrite nodules
• Pelitic rocks containing carbon and S  carbonaceous pelite
• Pyrite  pyrrhotite conversion (500-550°C) releasing S and Au
• Basalts and ultramafic rocks
• Possible magmatic source, from
calk-alcaline affinity
Fluids – Au transport &
precipitation
 Gold transport & precipitation

Phillips and Powell (2010)

proposed that hydrogen
sulphide should be the most
suitable ligand because Au1+
has an elevated
electronegativity value for
sulphur (a value of 2.58 in
Pauling unit), hence
favouring covalent bonding.

According to Le Chatelier’s principle:

- if the activity of HS- decreases in reactions 2 and 3, gold will precipitate;
- HS- is consumed when pyrite is formed from reactions
4 and 5, leading to gold precipitation within
pyrite.
- Conversely, native gold is precipitated when
HS- is not directly consumed by pyrite formation.
- According to Figure 3, gold will precipitate if the pH
and ƒO2 of the fluid change.
Gaboury (2019)
Phase separations, expressed by the coexistence of liquid- and
vapour-dominated (CO2) fluid inclusions, imply that CO2 was
removed from its initial one phase fluid (water-carbonic acid).
As a consequence, fluids became more acidic, hence precipitating
free gold (Figure 3).
Fluid acidification is manifested by the occurrence of muscovite as
the proximal hydrothermal alteration around gold-bearing veins
and the direct association of muscovite with visible gold (Augustin
et al. 2017). Gaboury (2019)
 Summary
Common traits systematically
in deposits from different
terrains with distinct ages.
A common geological process
and Au-transporting fluid
seems to be responsible for
their formation.
summary in Garofalo et al. (2014)
(1) form during accretionary orogenic events;
(2) relatively close to regional tectonic
lineaments, especially along lower-order
splays of these structures;
(3) spatial association with granitoid
intrusions;
(4) within some metamorphic belts, with gold
precipitation syn- to post-metamorphic;
(5) relatively low sulphide abundance in veins;
(6) carbonate-sericite-albite-sulphide hydro-
thermal alteration of host rocks post date
metamorphism;
(7) poorly developed mineral and metal zoning
within ore bodies; and
(8) genesis from low to moderate salinity ore
fluids over a large T range (250-700 oC), but
mostly within 300-350 oC.
 Depósitos de Ouro
Orogênico em Sequências
Meta-
vulcanossedimentares

Exs. & Reservas

 Phillips & Law 2000

17.5 % of world gold

production in 1999

1 ounce (oz) = 28.3495231 grams

2014
Goldfarb et al (2005)
World distribution of world class
greenstone-hosted quartz-
carbonate vein deposits
Diferentes tipos
de depósitos de
diversas idades

Au tons
Exemplos de depósitos no Arqueano - Canadá

Structural Provinces of
the Canadian Shield
Gold in the Superior Province

Robert et al., 2006

 World-class Au deposits
of
the eastern Yilgarn Craton,
Australia

Orogenic Gold

Intrusion-
Related Gold

VHMS Gold

Metamorphosed Gold
Inserir fotos Australia

Superpit, Kalgoorlie
Production: 850,000 ounces of gold every
year;
There are over 2,000 ore lodes that occur
within the Golden Mile dolerite are found
in an area over 5 kilometres in strike and 2
kilometres in width and occur to a depth
of over 1 kilometre.

http://www.superpit.com.au/Geology/Overview/tabid/62/Default.aspx
Yilgarn Craton: Shear zones & gold deposits
• links between structure
and prospectivity well
known
• strong spatial association
with major shear zones
• strong spatial correlation
with greenstones
• EG domain:

• ~1 Au occurrence per sq
km of g/s outcrop
• ~11% of g/s outcrops
• 755 kg/sq km g/s outcrop
 OURO (ppm)

Hemlo

DEPÓSITOS OROGÊNICOS DE
OURO EM GREENSTONE BELTS
Motherlode

DEPÓSITOS
DE OURO Hedley (SKARN)

Depósitos Carlin

Depósitos Koreanos

MAIORIA DEPÓ-
SITOS PÓRFIROS
DEPÓSITOS DE
METAIS BASE GRANDE PARTE DEPÓSITOS
DE OURO EPITERMAIS
B
DEPÓSITOS SEDEX

METAIS BASE (%) PRATA (ppm)

MAIORIA DOS VMS

K = Kidd Creek; B = Bingham Canyon

Giant (gigantes)  500 tons
>16 Moz Au

World-class-size  100 t Au
>3.5 Moz Au

Production Morro Velho ~500 ton Au

Tonnage vs
grade chart
of Canadian
and world-
class-size
(=100 t Au)
world
deposits.
Canadá

Depósitos arqueanos

Austrália
 Nonstratiform

Depósitos hospedados Pseudo-stratiform

em FFB Mixed
Figure 3. Ore grade in g/t gold versus metric tonnes of ore for giant deposits belonging to the
orogenic, Carlin-type, IOCG and IRGD gold deposit groups. For IOCG deposits, grade is shown as
g/t gold-equivalent, which utilizes current gold and copper prices to calculate copper value as gold
equivalent value. Data from Cline et al. (2005), Goldfarb et al. (2005), Groves et al. (2010), and
Goldfarb and Groves (2015).
Gold content in various ore types
Poulsen et al. (2000)

Lode gold =
orogenic +
epithermal
ores

Lode + VMS
 Known Brazilian Archaean-related Mineral Giants
Terrane Deposit Deposit
Mineral deposit Commo-
age age- age-
dity
postulate alternative
d

1 Morro Velho Quadrilátero gold + silver N-A N-A

Ferrífero
2 Cuiabá gold + silver N-A N-A
3 Igarapé Bahia- copper-gold N-A PP3 N-A or T-Q
Alemão
4 Cristalino copper-gold N-A PP3 N-A
5 Sossego copper-gold N-A PP3 N-A
6 Salobo Carajás copper-gold N-A PP3 N-A
7 N4 & N5 iron N-A PP3 N-A
8 Onça Puma nickel PP1—N-A T-Q
N-A: Neo-Archaean
9 Vermelho nickel PP1—N-A T-Q PP1: Siderian
PP3: Orosirian
10 Serra do Tapa nickel NP1—N-A T-Q NP1: Tonian
11 Serra Pelada gold-Pd-Pt N-A PP3 T-Q: Tertiary-
Quartenary

Archaean
in Thorman et al., 2001
GOLD
in Thorman et al., 2001
in Thorman et al., 2001
 Summary (1) form during accretionary orogenic events;
(2) relatively close to regional tectonic
lineaments, especially along lower-order
splays of these structures;
Common traits systematically (3) spatial association with granitoid intrusions;
in deposits from different (4) within some metamorphic belts, with gold
terrains with distinct ages. precipitation syn- to post-metamorphic;
(5) relatively low sulphide abundance in veins;
A common geological process (6) carbonate-sericite-albite-sulphide hydro-
and Au-transporting fluid thermal alteration of host rocks post date
seems to be responsible for metamorphism;
their formation. (7) poorly developed mineral and metal zoning
within ore bodies; and
(8) genesis from low to moderate salinity ore
fluids over a large T range (250-700 oC), but
mostly within 300-350 oC.

summary in Garofalo et al.

Aspectos
econômicos

1 Oz troy = 31,1035g
1 ounce = 28.3495231 grams
Crocco (2009)
O que determina a decisão das
empresas de investirem na
pesquisa de ouro?
PREÇO DO METAL!!!
Crocco (2009)
06 de setembro de 2017
06 de setembro, 2017
https://www.mining.com/web/bre-x-scandal-a-history-timeline/
Gold Fraud Bre-X Minerals, Ltd
The largest Gold-Fraud in the XX century

1988 1989 1993 1995 1996 March 19, March 26,

FormedIncorporated Purchased Estimated Stock 1997 1997
Busang, deposits climbed Michael de FreePort
Indonesia of 30 million up to Guzman announces
ounces of gold $270 per falls out of discrepancies in
share helicopter previous findings
Stock looses
83% of its value
in one day

https://institutominere.com.br/blog/caso-
bre-x-a-fraude-que-mudou-os-rumos-da-
mineracao
What allowed the fraud to
happen? •Crushing all samples as
opposed to saving a slab
•Gold was in the nuggets => no
deposits come in nuggets!
•No gold was found at the
surface

No inspectors at the site

In 1996 two different reports
showed discrepancies in Busang
Felderhof and De Guzman had
past of submitting false data
Mining methods were not
meeting the excavation
standards
Fraud Detection
The fire in the laboratory with
core samples
De Guzman fell to his death
from the helicopter
Independent drilling of 7 holes
by FreePort
Independent mining consultant
confirmed fraudulent alteration
of gold
 Fraud Prevention

Provide more details about

exploration methods
Require independent reports
to confirm the first disclosure
Distinguish brokerage
opinions from material
disclosed by the company
Establish National Securities
Regulation Committee

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