Resouro Gold Inc. (TSXV: RAU) (“Resouro” or the “Company”) is pleased to announce that the Company has initiated a work program at the Tiros Titanium-REE Project where Resouro recently acquired a 33% stake with a farm-in agreement for a 90% interest announced on February 15, 2023 (see Press Release). The Tiros Project represents 10 mineral concessions totalling 152 km2 located in Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital. The Tiros licenses cover the most prospective portion of the prolific Capacete Formation and the areas with the greatest exploration potential.
Resouro’s team has commenced an initial work program consisting of the following:
- Building and verifying the database of historic data
- Preparation of two 100 kg composite samples from historic drilling
- Planning of an Auger drilling progam utilising the Auger drills owned by the Company
- Planning of an aircore drilling program to have sufficient data to produce NI 43-101 compliant resource
- Developing metallurgical testwork flowsheets
- Selection of a metallurgical laboratory in Brazil for initial Titanium and Rare Earth concentation
- Appointment of a UK-based specialist metallurgical laboratory for specialist TiO2 and REE testwork
The initial work program, once completed and all results received and interpreted, will be followed by:
- Planning of Environmental Impact Assessment
- Planning of Environmental and Social Governance programs
- Initial conceptual strip mining planning studies and mine rehabilitation studies
- Further assessment of the infrastructure and initial capital and operating cost assessment
- Segmenting and analysing the REE and TiO2 offtake market
Resouro’s President and CEO, Christopher Eager, said: “We are very excited to commence work on the Tiros Project. The Project has a significant amount of historic data, and the total grades compare favourably with the grades at the two other REE projects at the same stage of development in Brazil. The ore bodies are continuous layers of soft material at or close to surface, which means that sampling can be done cheaply and quickly to produce a 43-101 resource estimate by drilling short holes at wide spacing. Tiros holds vast potential waiting to be unlocked, and our team is ready to move forward right away.”
Learn more: Junior Mining Network 