Aguia Resources (ASX:AGR,TSXV:AGRL) is currently evaluating opportunities to enhance shareholder value through its Big Ranch and Canhada copper prospects in Rio Grande do Sul, where it has discovered a new zone of copper mineralization and staked 23 tenements, totalling 34,000 hectares within the Rio Grande copper belt.

The company said it believes that the market for copper will be positive over the next few years and could be in undersupply globally as early as next year.

As highlighted in the press release:

• Assessing all options to realize the potential value of Big Ranch and Canhada prospects including funding inside Aguia, joint venture/strategic partner or spinning out into a new listing
• Diamond drill program at Big Ranch targeted for completion by end of year with drilling at Canhada scheduled to commence in Q1 2019
• Mineralization hosted in a 100km long x 60km wide belt with historical production from Iron Oxide Copper Gold (IOCG) deposits
• Good mining jurisdiction with excellent infrastructure, mining service providers and skilled manpower in place
• Copper market forecast to be undersupplied while demand for copper from electric vehicle sector is growing

Click here to read the full Aguia Resources (ASX:AGR,TSXV:AGRL) press release.