Business
Cosigo Resources Ltd. signs Letter of Intent with native communities in northwestern Brazil
NOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVICE...
About this update from Cosigo Resources Limited
[{"type":"text","content":"\n\n\n\n\n\nNOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVICES  OR  FOR \n DISSEMINATION  IN  THE  UNITED  STATES\n\n\nVANCOUVER, Dec. 19, 2011 /CNW/ - Cosigo Resources Ltd. (TSXV: CSG) today\n provided an update on the Company's activities in northwestern Brazil.\n\n\nHighlights of the update include:\n\n\nLetter of Intent signed with communities and local authorities in native\n areas of northwestern Brazil to seek approvals for and to start a pilot\n project with the objective of developing mining opportunities\n\nArea covered by the Letter of Intent hosts multiple historic gold mining\n areas with Taraira Gold Belt geology similar to that of Cosigo's\n Machado project on the Colombian side of the border\n\nUpon receipt of Federal approvals for the pilot project, Cosigo will\n have the option to enter into a joint venture with up to a 75% interest\n on prospects identified by drilling in the area covered by the Letter\n of Intent\n\n\n\"We have completed the first steps toward a joint venture with the\n native peoples of this highly prospective region of Brazil. This pilot\n project stands to lead to successful mineral development, where native\n communities can take a leading role in their own economic future while\n maintaining environmental integrity,\" said Dennis W. Milburn, President and CEO of Cosigo. \"Together with the communities we will now work to bring the project to\n fruition.\"\n\n\nOn December 2, 2011 the Company signed a Letter of Intent (\"LOI\") with\n the leaders of several native communities. Parties to the LOI include\n the Jose Mormes, Rio Tiquie and Baniwa nations, as well as\n representatives of the municipalities of Japura and Sao Gabriel de\n Cachoeira (collectively the \"Communities\"). The LOI was also signed by\n representatives of the Brazilian department of native affairs (FUNAI)\n and by the Federation of Indigenous Organizations of Rio Negro (FOIRN).\n The objective of the LOI is to initiate a pilot project to investigate\n mineral potential and develop mining opportunities in the Isana River,\n Pari Cachoeira, Tiquie River and Traira Serrania regions of the\n northwestern Amazon Province of Brazil. These regions close to the\n Colombian border are hosts to large areas of geology similar to that of\n Cosigo's Machado...