Resouro Reports High Grade Initial Results at Tiros Rare Earths and Titanium Project in Brazil
Resouro Reports High Grade Initial Results at
Tiros Rare Earths and Titanium Project in
Brazil
Toronto, Ontario--(Newsfile Corp. - September 12, 2023) - Resouro Gold Inc. (TSXV: RAU) (FSE: BU9)
("
Resouro
" or the "
Company
") is pleased to announce significant initial exploration results as part of
the
previously announced exploration campaign
at Tiros Rare Earths and Titanium Project in Brazil (the
"
Tiros Project
").
Key Highlights
-
Initial follow up Auger drilling at Tiros delivers compelling assay results, including:
11m of 7,197ppm TREO (1,444 ppm NdPr) and 20.56% TiO2 from 4m; and
11m of 5,253ppm TREO (1,056 ppm NdPr) and 15.26% TiO2 from surface.
All 5 initial holes hit mineralization, averaging 5,134 ppm TREO, at an average NdPr of
over 1,038 ppm, from surface to a maximum depth of 15m.
-
A total of 227 m was drilled in the initial program, awaiting assays on remaining 18 holes
-
A composited metallurgical sample, made from new Auger samples, were sent to ANSTO,
Dofner Anzaplan and Prosper Laboratory for further analysis
-
Drilling contract signed for 12,000m AC drill program at Tiros Project to commence mid-
September
Chris Eager, CEO of Resouro, commented:
"We are extremely pleased with results from the initial follow up drill program at Tiros and look forward to
receiving further assay results from this program currently sitting with the lab, as well as accelerating our
drill campaign at the project. Additionally, initial metallurgical results from the Brazilian lab have been
encouraging, and we eagerly await results from world-class labs in Australia and Germany to further
demonstrate the metallurgical characteristics of Tiros. On both fronts, we look forward to updating the
market as results materialize."
Auger Drilling Progress and Initial Assay Results
Resouro commenced its initial follow up program at Tiros in July. 23 new Auger drill holes for a total of
227 m have been completed by Resouro's exploration team at the Tiros Rare Earths and Titanium
Project. The Auger holes were drilled into near surface areas of severely oxidized zone, which lies at the
top of the Capacete formation. Highlights of the initial assay results are shown in Table 1 (Also see
Figure 1 for Locations).
The Capacete formation averages approximately 40 meters in thickness, with Auger drilling limited to a
maximum of 15 meters in depth. All auger holes ended in high grade TREO (over 3,000ppm) and Ti0
2
(over 10%) mineralization.
Samples from an additional 18 Auger holes are currently being analyzed at SGS Brazil. 203 assay are
expected to be received in the coming weeks.
20% of the assays are QA/QC samples (blanks,
duplicates and standards).
Table 1 - Auger drill sample highlights
Hole ID
FROM
TO
THICKNESS
(m)
TiO2 %
Nd+Pr oxide
ppm
TREO ppm
FT-01
0
6
6
20.56
501
4,189
FT-02
0
11
11
15.26
1,056
5,253
FT-03
0
6
6
15.03
1,103
4,058
FT-04
4
15
11
20.56
1,444
7,197
FT-05
2
9
7
10.92
774
3,455
The average TREO grade was 5,134 ppm and the average Nd+Pr ox grade was 1,038 ppm.
In addition, anomalous Niobium grades were observed, with average grade of 860 ppm Nb over the
same mineralized intervals, with significant intervals over 1,200 ppm Nb.
Resouro will investigate this
further, given the proximity to the world's largest Niobium Mine in Araxa, 120 km to the southwest of
Tiros.
Figure 1: Auger drillholes Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/180375_220cc62ce4bf79b5_001full.jpg
Metallurgical Test Work
A Composite sample was produced. Samples have been sent to globally recognized labs in Australia
and Germany to determine the leachability of the Rare Earths Elements.
A 207 kg composite sample
made up from historic drill samples was previously sent to Prosper Laboratory in Brazil for analysis for
Rare Earths Leachability and TiO
2
Concentration. Results from this work in Brazil were encouraging.
Resouro expects to complete a full interpretation of these results combined with findings of current test-
work from the new auger samples being completed at internationally accredited laboratories specialized
in Rare Earth Elements.
A 200kg Metallurgical Composite Sample was produced from auger samples:
50kg has been shipped to ANSTO in Australia:
50kg to Dofner Anzaplan in Germany and
An additional 100kg to Prosper Laboratory in Brazil.
Resouro plans to announce the full suite of metallurgical testwork upon before completion of the 2023
exploration program.
Drilling (AC)
Additionally, the Company a signed a contract with Drillbell Sondagens Ltda to begin a 12.000m Air
Core drill program at the Tiros Project mid-September 2023.
Up to three drill rigs will be mobilized to accelerate the sampling and results. This first drilling campaign
should be completed by Q1 2024 and environmental permitting for part of this campaign has already
been obtained by the Company.
The drill program aims to confirm continuity and depth of the mineralized zones within the Capacete
Formation as well as to test the grades and recovery of the TREO elements and TiO2 via chemical and
metallurgical tests.
Qualified Person ("QP")
The technical content of this news release has been reviewed and approved by Rodrigo Mello BE
Geology, AUSIMM
and a qualified person as defined by National Instrument 43-101.
About Resouro Gold Inc.
Resouro is a Canadian-based mineral exploration and development company focused on the discovery
and advancement of economic mineral projects in Brazil, including the Tiros Project in Minas Gerais and
the Novo Mundo Gold Project in Mato Grosso. Learn more about the Company on its
website:
https://resouro.com
.
On behalf of the Board of Directors,
Chris Eager, President & CEO
RESOURO GOLD INC.
For further information, please contact the Company at:
Chris Eager, CEO
For Investor inquiries
416-642-1807
Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this
press release includes, but is not limited to, statements with respect to the completion of the
respective transactions contemplated in the Resmin Agreement and Tiros Agreement, including the
completion of the Tiros PFS, the Test Work, and the Tiros DFS, along with completion of the earn-ins
and share transfers. Although we believe that the expectations reflected in the forward-looking
information are reasonable, there can be no assurance that such expectations will prove to be correct.
We cannot guarantee future results, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in part, as those set out in
the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause the results to differ materially from
those expressed in the forward-looking information include, but are not limited to: general economic
conditions in Canada and globally; industry conditions, including governmental regulation and
environmental regulation; failure to obtain industry partner and other third party consents and
approvals, if and when required, including obtaining conditional and final acceptance of the TSXV; the
need to obtain required approvals from regulatory authorities; stock market volatility; liabilities
inherent in the mining industry; competition for, among other things, skilled personnel and supplies;
incorrect assessments of the value of acquisitions; geological, technical, processing and
transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated
benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of
risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this
cautionary statement. We undertake no duty to update any of the forward-looking information to
conform such information to actual results or to changes in our expectations except as otherwise
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forward-looking information.
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