The Conversation (0)
Brazil Resources Inc. (CVE:BRI) announced the acquisition of the 24,678 acre Maua project in the emerging Gurupi Gold Belt located in Maranhão State, Brazil.
The press release is quoted as saying:
The project area is being acquired by the Company through an application by an agent to the Brazilian National Department of Mining Production (the DNPM) for a new exploration license, which has been approved and is pending formal publication. The Company’s plan at Maua is to perform detailed soil sampling, trenching and auger drilling, starting with historical artisanal production sites, with the objective of delineating initial drill targets. The initial $120,000 program, to commence immediately, includes geological mapping and geochemical reconnaissance sampling over the entire property, with detailed soil sampling over a selected area.
Brazil Resources’ President and CEO, Stephen Swatton stated:
“The acquisition of the Maua Project is exciting for the geological team here, and advances the Company’s strategy of exploring a number of highly prospective properties located in emerging gold belts, each with major historical and/or current artisanal production. We continue to actively evaluate acquisition terms for both early-stage and advanced projects as part of our growth plan.”
Click here to access the entire news release.