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Resouro Enters into Term Sheet to Acquire Peixoto Gold Project
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Resouro Gold Inc.   (...
About this update from Resouro Strategic Metals Inc
[{"type":"text","content":"Resouro Enters into Term Sheet to Acquire Peixoto Gold ProjectVancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Resouro Gold Inc. (TSXV: RAU) (\"Resouro\" or the \"Company\") is pleased to announce that it has entered into an arm's length term sheet (the \"Term Sheet\") with IAMGOLD Corporation, a mining company listed on the Toronto Stock Exchange (\"IAMGOLD\"). The Term Sheet proposes that the Company would acquire from IAMGOLD it's option to acquire a 100% interest in the Peixoto Gold Project (\"Peixoto Project\") located in the State of Mato Grosso, Brazil adjacent to the town of Peixoto de Azevedo. The Peixoto Project is comprised of eight mineral processes and rights totalling approximately 52,023 hectares and is adjacent to the Company's Novo Mundo and Santa Angela gold projects in Mato Grosso, Brazil. The mineral rights are all at the initial three-year exploration period and have Partial Exploration Reports due to be filed with the Agência Nacional de Mineração, being the Brazilian National Mining Agency (the \"ANM\"), in August 2023.Christopher Eager CEO and President of Resouro said, \"Resouro has made substantial progress at its 100% owned Novo Mundo Gold Project since its reverse takeover on the TSX-V in April 2022. The acquisition of the Peixoto Project will increase Resouro's Novo Mundo Gold project land holding by over 310% 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.\"The terms of the proposed transaction provide that the Company shall assume IAMGOLD's option to acquire a 100% interest in the Peixoto Project in consideration for, in part, the issuance to IAMGOLD of an aggregate of 2,314,471 common shares of the Company. Of these common shares, 1,157,236 would be issued within five (5) days from the date that application is made (\"Application Date\") to the ANM for the transfer of all of the mineral rights related to the Peixoto Project to the Company's wholly owned Brazilian subsidiary, ISON do Brazil Mineração Ltda. (\"ISON Brazil\"). An additional 1,157,235 common shares of the Company would be issued on the earlier of: (i) the date that is five (5) days from the effect...