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Homerun Resources Inc. Signs LOI to Purchase the Ze Manoel Cu-Au Project in Goias State, Brasil
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Homerun Resources Inc.
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About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Signs LOI to Purchase the Ze Manoel Cu-Au Project in Goias State, BrasilVancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Homerun Resources Inc. (TSXV: HMR.H) (\"Homerun'' or the \"Company\") is pleased to announce that the Company has executed a letter of intent (LOI) for the option to purchase up to a 100% interest in the Zé Manoel Project in Goiás State, Brasil (the \"Project\").The Project covers an area of approximately 7,587 acres in the western portion of the Goiás State within the Arenópolis municipality of Brazil, about 290 km from the state capital, Goiânia and approximately 60 km east of the city Iporá. Access to the Property is via well-maintained state roads which cross most of the southern segment of the mineral concession. Access throughout the property is facilitated by unpaved secondary roads and trails.The Zé Manoel Project lies within the Tocantins Structural Province in the Brasília Fold Belt, inserted in the Arenópolis Magmatic Arc, located within the greater Goiás Magmatic Arc, of Neoproterozoic age. The Property has significant metallogenic potential, justified by the occurrences of: intrusion-related and epithermal gold deposits of Bacilândia; Bom Jardim de Goiás Cu and Au deposits; Ni, Cu, Co, PGE deposits and vermiculite deposits, related to layered mafic-ultramafic bodies; occurrences of Sn in anorogenic granites; occurrences of cretaceous diamondiferous kimberlitic intrusions, carbonatites and kamafugites from the Goiás Alkaline Province (GAP), in addition to various industrial materials used for civil and agricultural inputs.A recent research study on the property comprises the majority of data available on the Project, and includes ground-based geophysics, stream sediment sampling, trenching, and lithogeochemical outcrop sampling.Target ZonesThe Project consists of four major target zones: Ze Manoel, PAV, Dipolo, and Alkaline. A recent in-depth research report on the Property determined that it is situated in a favourable geological context for the formation of polymetallic mineral deposits. The geochemical results obtained corroborate the economic potential for copper, gold, iron, and diamond, with Cu contents above 1%, Au above 1 g/t and Fe2O3 above 80%.The primary target, Ze Man...