Business
Quimbaya Gold Enters Into Definitive Agreements with Remandes Corporation
VANCOUVER, BC, June 14, 2023 /CNW/ - Quimbaya Gold Inc. (CSE: QIM) ("Quimbaya") is pleased to announce that, further to its press release dated May 15, 2023, it
About this update from Quimbaya Gold Inc
[{"type":"text","content":" VANCOUVER, BC, June 14, 2023 /CNW/ - Quimbaya Gold Inc. (CSE: QIM) (\"Quimbaya\") is pleased to announce that, further to its press release dated May 15, 2023, it has entered into three (3) definitive agreements (the \"Definitive Agreements\") with Remandes Corporation S.A. (\"Remandes\") for the acquisition of all the issued and outstanding shares (the \"Shares\") of Explogold Ingenieria y Consultoria S.A.S., Minera Buey Aures S.A.S. and Soluciones Ambientales Del Nordeste S.A.S. (collectively, the \"Companies\") by way of share purchase agreements (the \"Transaction\"). The Tahami and Maitamac Projects The Tahami Project is located 158 kilometers northeast of Medellin in the Segovia-Remedios mining district of Antioquia, in the most prolific gold region of Colombia which hosts several multi-million-ounce high-grade gold operations such as the Segovia mines that have been producing gold for more than 150 years. The Tahami Project consists of two titles covering approximately 622 Ha, located approximately 25 kilometers northeast of the producing Segovia gold mines (owned by Aris Mining). The property is easily accessible and hosts multiple gold occurrences defined by artisanal adits located near a regional scale structure known as the El Bagre fault. Gold and silver mineralization occurs in steeply dipping quartz-sulfide sheeted veins hosted by granodiorite of the Segovia Batholith. The property has never been drilled and shows excellent potential to uncover high grade gold and silver mineralization. Additionally, in accordance with the terms of the Definitive Agreement for the acquisition of Soluciones Ambientales Del Nordeste S.A.S., a portion of the purchase price will be held back by Quimbaya pending the successful transfer of certain mining applications covering a total aggregate area of approximately 2,494.4 Ha. The Maitamac Project is located 45 km southwest of Medellín in the Abejorral and Sonson municipalities known for gold and silver artisanal mining towns. The property consists of 6 mining applications covering approximately 26,102 Ha and easily accessible. The property is mostly covered by the Cajamarca geological Complex hosting several gold occurrences and high-grade gold mines. Quartz-Sericite-Graphitic Schist as the preferred host rocks for gold were recently found on the property. Inside the pr...