- Resouro Gold (RAU) has signed a term sheet with IAMGOLD Corp. (IMG) to acquire the Peixoto Gold Project
- The company would take a 100 per cent interest in the project, located in the State of Mato Grosso, Brazil
- The Peixoto Project is comprised of eight mineral processes and rights totalling 520.2 sq. km.
- Resouro Gold’s (RAU) share price remained unchanged at C$0.355
Resouro Gold (RAU) has signed an arm’s length term sheet with IAMGOLD Corp. (IMG) to acquire the Peixoto Gold Project.
The company would take a 100 per cent interest in the project, located in the State of Mato Grosso, Brazil.
The Peixoto Project is comprised of eight mineral processes and rights totalling 520.2 sq. km. and is adjacent to the company’s Novo Mundo and Santa Angela gold projects. The mineral rights are all at the initial three-year exploration period and have partial exploration reports.
The terms of the proposed transaction include issuing an aggregate of 2,314,471 common shares of the company to IAMGOLD. The company and/or ISON Brazil will assume all of the remaining obligations of IAMGOLD and its affiliates.
Resouro’s CEO and President, Christopher Eager, said that the company has made substantial progress at its 100 per cent owned Novo Mundo Gold Project since its reverse takeover in April 2022.
“The acquisition of the Peixoto Project will increase Resouro’s Novo Mundo Gold project land holding by over 310 per cent to 68,758 ha. This is a major holding in the highly prospective Alta Floresta Belt in Mato Grosso Brazil. The package comes with numerous gold occurrences with many historic artisanal workings and recent exploration data including drilling.”
Resouro Gold Inc is a gold exploration and development company with operations in Brazil.
It currently has three other 100 per cent-owned projects in the mining-friendly states of Mato Grosso, Tocantins / Goias, and Pernambuco.
Resouro Gold’s (RAU) share price remained unchanged at C$0.355.