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Resouro Strategic Metals Inc. (RSGOF) Binding Agreement Signed for Acquisition of Mineral Rights
Toronto, Canada (ABN Newswire) - Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (FRA:8TX) (OTC...
About this update from Resouro Strategic Metals Inc
[{"type":"text","content":"Resouro Strategic Metals Inc. (RSGOF) Binding Agreement Signed for Acquisition of Mineral Rights\n\n Toronto, Canada (ABN Newswire) - Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (FRA:8TX) (OTCMKTS:RSGOF) is pleased to announce that on September 6, 2024 (September 7, 2024 Australian time) its subsidiary, Tiros Minerais Estrategicos Mineracao Ltda (\"TMEL\" or the \"Buyer\"), entered into a Binding Agreement with Marcelo Augusto Martins Neto (\"Seller\") to acquire 100% ownership and title over three (3) mineral rights contiguous with the Sao Gotardo block of Resouro's Tiros Rare Earths and Titanium Project in the state of Minas Gerais, Brazil (\"Tiros Project\" or the \"Project\").\n \n\n Highlights\n \n\n - Three (3) minerals rights (\"Mineral Rights\") totaling 4,744 hectares located south of, and contiguous with, the Sao Gotardo block of the Tiros Project.\n \n\n - The Capacete Formation, associated with the Tiros Project, covers most of the Mineral Rights associated with this Binding Agreement.\n \n\n Commenting on the Binding Agreement, President, CEO, Director and Founder, Chris Eager said:\n \n\n \"We are pleased to announce that we have successfully acquired key assets within the Capacete Formation, enhancing our strategic position in this promising region. This acquisition is strategically located adjacent to Resouro's Sao Gotardo block of the Tiros Project. The integration of these assets into our portfolio is anticipated to offer significant advantages, particularly in the context of potential future discoveries.\"\n \n\n Acquisition Terms\n \n\n Material Terms of the Binding Agreement include:\n \n\n - Initial Payment: Within 5 days from the date of confirmed acceptance of this transaction by the TSX Venture Exchange (\"TSXV\"), or up to 30 days from the purchase confirmation, payment of (1) CAD 50,000 in cash and (2) CAD 50,000 in Resouro shares based on the 20-day volume weighted average price (\"VWAP\") of Resouro shares which occurred immediately prior to the date of acceptance of the transaction.\n \n\n - Milestone 1: After the purchase confirmation, the Buyer shall drill at least six (6) holes within the mineral rights perimeter. The drilling campaign should report at least three (3) holes showing a minimum of 20 continuous meters of intercepts with over 2,000 ppm Total Rare Earth Oxides (\"TREO\") within ...