Resouro lodges mining concession application for Brazil gold project
ASX-listed Resouro Strategic Metals has marked a further step in the advancement of the Novo Mundo gold project, in Brazil.
The company reports that its wholly-owned Brazilian subsidiary, Ison do Brazil Mineração, successfully lodged the mining concession application on July 16.
"Lodging of the mining concession application is a key regulatory step toward converting our trial mining operation at Novo Mundo into a fully licensed, long-term producing asset.
“It reflects the steady execution of our permitting strategy in the Alta Floresta Gold Province and moves us closer to establishing Novo Mundo as a sustainable cash generator for Resouro,” says CEO Christopher Eager.
The area covered by the application comprises about 930 ha and is the subject of a trial mining operation.
The company says the submission of the mining concession application represents the next stage in the licensing process for Novo Mundo and, once granted, will authorise long-term commercial mining of the area.
Resouro adds that it further strengthens the company’s position as a growing gold developer with a meaningful presence in the highly prospective Alta Floresta Gold Province, one of Brazil's prolific gold-producing regions.
BACKGROUND
Resouro notes that the Novo Mundo gold project has been the subject of extensive historical exploration by mining companies Rio Tinto Zinco, RJK Resources, Graben Mineraçäo, Nexa Resources and Resouro.
An independent technical report prepared by GE21Consultoria Mineral in support of the company’s ASX listing concluded that the project hosts multiple porphyry–epithermal gold targets, supported by geological mapping, geochemistry, geophysics, trenching and diamond drilling.
During this year, Resouro says it has substantially advanced exploration, permitting and trial mining activities, culminating in the submission of the mining concession application.
