- Homerun Resources (TSXV:HMR) has revealed it has signed an exclusivity agreement to acquire silica mineral rights in Brazil
- The agreement includes three mining rights held by a local citizen directly and through an individual legal entity owned by the individual
- Under the terms of the agreement, Homerun Resources will have a 90-day exclusivity period for the performance of due diligence in the mineral rights areas
- Shares of Homerun Resources are up 8.49 per cent to C$1.15 as of 11:35 am ET
Homerun Resources (TSXV:HMR) has revealed it has signed an exclusivity agreement to acquire silica mineral rights in Brazil.
In a news release, the company stated the agreement includes three mining rights held by a local citizen directly and through an individual legal entity owned by the individual.
An assay performed on a representative bulk sample from the deposit by the current owner returned a value of 99.68 per cent silicon dioxide, while a historical report produced on the property in 2022 interpreted the entire mountain range as having the potential to host commercial-grade high-purity silica sand.
“Securing this exclusivity agreement and adding this exceptional silica sand deposit with very favourable logistics to our portfolio, represents another step forward in positioning Homerun as a leading supplier for the growing global demand for high-purity silica,” Brian Leeners, CEO of Homerun Resources, said in a statement. “The property will complement our asset base in Belmonte in servicing bulk HPQ industrial markets, while the higher purity Belmonte silica is delivered into HPQ Energy Verticals.”
Under the terms of the agreement, Homerun Resources will have a 90-day exclusivity period for the performance of due diligence in the areas. Depending on the results, the parties will then enter into a contract for the total assignment of mining rights.
With headquarters in Vancouver, Homerun Resources is focused on the development of its business within the critical and energy materials sectors.
Shares of Homerun Resources Inc. (TSXV:HMR) are up 8.49 per cent to C$1.15 as of 11:35 am ET.
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