Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil
The Tiros Project Location. (Credit: RESOURO GOLD INC)
Resouro Gold Inc. (“Resouro” or the “Company”) (TSXV: RAU) is pleased to announce that effective February 12, 2023 it has entered into an arm’s length agreement with Tiros Strategic Metals Pte Ltd (“Tiros Strategic Metals”), that holds a 90% interest in the Tiros Titanium and Rare Earth Project (“Tiros Project”), to acquire a 33% equity holding in Tiros Strategic Metals with an option to acquire the remaining equity that will result in Resouro owning a 90% interest in the Tiros Project.
The Tiros Project Highlights:
11 Mineral Concessions totalling 171km2 and covering 70km of the NE trending Tiros sedimentary sequence
The Tiros licenses cover the thickest portions of the prospective Capacete formation (dark colours in Figure 1) and the areas with the greatest exploration potential
Extensive horizontally bedded near-surface and outcropping Capacete Formation, formed from the erosion and deposition of the volcaniclastic rocks of the Alkaline province of Alto Paranaiba
Preliminary work has identified continuous mineralised beds up to 7m thick showing elevated rare earth values of up to 1.0% TREO, including a high proportion of the permanent magnet rare earths; Neodymium, Praseodymium and Dysprosium.
Recently re-assayed core confirmed TiO2 grades consistently >15% and potentially economic Rare Earth Oxide grades of up to 1% TREO
Historical data for the Tiros Project includes:
1,033m of drilling from 21 holes within the 10 concessions
GPR Profiles – subsurface imagery
Aerial geophysical Magnetic and Gamma Survey
Geochemical database of 3,000 soils/rocks/chips
Remote Sensing Studies
Preliminary metallurgical studies on the Titanium beneficiation
Mineralogy studies and weathering profile characterization
Verification and re-assaying of the available core/drilling material
Christopher Eager, CEO of Resouro, commented: “We believe that by bringing a potentially globally significant project into Resouro’s asset pipeline at a low upfront cost we provide a very exciting value opportunity for new and existing shareholders. Our portfolio of existing gold projects and the newly acquired exposure to strategic metals such as titanium and rare earth elements allows the company to benefit from the macro environment of rising gold prices and the push towards a more environmentally conscious future.”
Source: Company Press Release