Quinto Real signs definitive agreement to acquire Camarinhas gold project in Brazil
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 03/07/17 -- Quinto Real Capital Corporation (TSX VENTURE: QIT) ("Quinto" or the "Company") is pleased to announce the signing of an arm's length option agreement (the "Agreement") with Americas Gold Corporation, SA, Elicio Gomes Lopes and Brasincor Empreendimentos E Participacoes SA, to acquire a 100% interest in the Camarinhas gold project in Brazil, which consists of three mineral-rights concessions that Quinto defines as Camarinhas Central, East and West (the "Properties").
The Properties are located in an area known as Camarinhas, which is situated in the rural area north of Campo Largo, Parana State, Brazil. It is approximately 45 km from Curitiba, the Capital of the State. The Properties, in total, comprise 1,704 hectares. Services and support for mining in this area are excellent.
The Camarinhas area is known for hydrothermal gold-pyrite-quartz veins, which have been prospected and mined for about 400 years. An adjoining property has produced gold for the last 25 years.
Available information on the Properties indicates a significant gold potential; however, much of this information cannot be used to evaluate the Properties and is only of historical interest until it can be confirmed. Assays of available material have been positive and mineralogical studies have detected up to 120-micron gold grains, which are associated with chalcopyrite along pyrite grain boundaries.
Quinto is planning a secure exploration drilling program, using standard Quality Control and Quality Assurance methods, to confirm the potential of the project. It is expected that key aspects of this program will be complete within six months.
Michael Curtis, President and CEO of Quinto, said: "We are excited about the recent turn of events. We have the opportunity to acquire a unique property on a emerging mining district with gold production activities."
Dr. Luisa Moreno, a director of Quinto, added: "We are in the process of expanding our technical team on the ground, with the start of the drilling program. We are also structuring our management team, and we will be making these announcements in the coming weeks as the final stages of the legal due diligence is completed."
In order to earn a 100% interest in the Properties, Quinto will have to fulfill the following terms over a five-year period. During the earn-in period, Quinto will be the project manager.
The acquisition is subject to regulatory approval and positive legal due dilligence.
About Quinto Real Capital Corporation
Quinto Real Capital Corporation (TSX VENTURE: QIT) is a Canadian gold exploration company. It owns a 5% interest in the Monster Lake property (IAMGOLD: 50%/TomaGold: 45%) and an option to acquire a 75% interest in the Gwillim, Fancamp and Embry properties, all located close to the Chibougamau mining camp in Quebec, Canada.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statement.
Contacts:
Quinto Real Capital Corporation
Michael Curtis
President and Chief Executive Officer
(514) 793-1915
Louis Morin
The Ask Marketing Services Inc.
(514) 591-3988
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Datum: 07.03.2017 - 18:53 Uhr
Sprache: Deutsch
News-ID 528743
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MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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