Quinto Resources Inc. has announced the signing of an arm's length option agreement with Mr. Sabino Rodrigo de Freitas to earn up to a 100% interest in the Campo Largo gold project in Brazil.
The Property consists of one mineral-rights concession covering 1 775.68 ha located in the rural area of the municipalities of Balsa Nova and Campo Largo, approximately 45 km west from Curitiba, the capital city of the State of Parana, in Brazil. Services and support for mining in this area are excellent.
Michael Curtis, President and CEO of Quinto, said: "While this has taken longer than what we expected, we are pleased with the results of our negotiations with Mr. Freitas and now have an option to acquire a very promising gold project on an emerging mining district with gold production activities."
The Campo Largo district is known for hydrothermal gold-pyrite-quartz mineralisation, which has been prospected and mined for about 400 years. Here the gold mineralisation occurs in the contact zone between a granitic intrusion, which introduced the gold, and the overlaying metamorphic rocks. This mineralised contact zone crops out on the concessions immediately north of the property, where the Tabipora mine has been producing high grade gold from successful veins for 30 years. Waste rock from this mine was assayed and examined with microscopy, which indicated a similar gold-bearing mineralogy of other area gold operations.
"As indicated in the Property's NI 43-101 technical reported dated August 18, 2017, historical drilling on a neighbouring concession to the southeast has reported intersections with higher-grade gold assays at a depth of 30 to 40 metres. At two points along the border, historical drilling indicates that the gold mineralization has been found as close as 25 metres from the Property. The Property covers a large area along the trend between the Tabiporã mine and the neighbouring concession gold occurrences and represents a significant exploration target. We will shortly start a small drilling program to validate the Property's gold potential," added Dr Luisa Moreno, a Director of Quinto. In order to earn a 100% interest in the Property, Quinto will have to fulfill the following terms over a six-year period. During the earn-in period, Quinto will be the project manager
Read the article online at: https://www.globalminingreview.com/finance-business/28082017/quinto-resources-signs-agreement-to-acquire-campo-largo-gold-project-in-brazil/