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Aura acquires exploration rights for two Brazil gold projects

Published by , Editorial Assistant
Global Mining Review,

Aura Minerals Inc. has announced that it recently acquired, through its subsidiary Aura Matupá, the right to explore the Pé Quente and Pezão Projects in the State of Mato Grosso, Brazil.

The Projects consist of a total of 6 Mineral Rights and are located in the geological setting of Alta Floresta Gold Province and are within a 50 km radius of Aura’s Matupa Project and the X1 deposit. The Projects have the same type of mineralisation, representing important potential for increasing Mineral Resources and Mineral Reserves of the Matupá Project. Aura made an initial payment of US$500 000 and, if the results meet its expectations, Aura has the right, but not the obligation, to complete the acquisition in up to 12 months for US$9.5 million.

Rodrigo Barbosa, President and CEO, commented, “The Matupá project is located in a highly productive region, known for its abundant artisanal mining activities. This project represents the first industrial-scale operation in the area, and from the outset, our goal has been to consolidate several nearby deposits into the Matupá project. By leveraging our scale, high recovery rates, and commitment to environmental and social standards, we believe that incorporating the Pezao and Pe-Quente projects into Matupá will result in a significant increase in resources and reserves through win-win situation for all stakeholders involved.”

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Gold mining news Brazilian mining news