(TheNewswire)
January 15, 2025 – TheNewswire – Vancouver, BC - Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE: 8TX; OTCQB: RSGOF) ("Resouro" or the "Company") is pleased to announce the appointment of Progesys International B Ltda, (“Progesys”), as Project Engineering Managers and Sete Soluções e Tecnologia Ambiental (“Sete”) to complete the Environmental Impact Assessment (EIA) for the development of Resouro’s Tiros Titanium and Rare Earth Elements Project (“Tiros Project” or “Project”) in Minas Gerais, Brazil.
Project Engineering Managers
Progesys (https://progesys.com/), a Canadian-founded company established nearly 20 years ago, is a multidisciplinary project engineering management organization. It has offices in North America, Latin America (Belo Horizonte, Brazil), Southeast Asia, the UAE, and Oman. Progesys provides industrial project management services to the hydrocarbons, mining, infrastructure, and transportation sectors. Since inception, it has been awarded US$1B in development contracts and managed US$3B transition contracts to operations.
Progesys’ capability is highly relevant to the Tiros Project, delivering project management services in engineering, quality assurance practices, environmental management, project management, construction management, commissioning, risk management, and operations readiness from a globally recognised engineering company.
Project Manager
Ms. Jordana Ferreira, Director of Industrial Projects for Progesys in Latin America, will lead the Company’s project development activities including environmental and engineering studies. Ms. Ferreira has a degree in Civil Engineering from The Maua Institute of Technology University (Sao Paulo), a Mining Engineering Degree from the Curtin University Kalgoorlie School of Mines in Australia, and post graduate qualifications in business management and in engineering production.
Ms. Ferreira specialises in project management and transition to operations. Before joining Progesys, Jordana spent seven years at Serra Verde (Brazil’s only operating rare earths project) as engineering and process manager and brings to Resouro a unique set of skills and experience. Jordana will work from Resouro’s Belo Horizonte Project office and will be supported by the Progesys Belo Horizonte Office.
The appointment of Ms. Ferreira to direct project development by contract through Progesys, marks a significant step forward, aligning with the progress being made on the Company’s ongoing initiatives. It allows the Company to manage a focused, but cost-effective project development schedule while engaging the flexibility of professional personnel and services at Progesys.
Environmental Impact Assessment
Building on Resouro’s current water studies at the Tiros Central Block, Sete has been appointed to complete the EIA.
About Sete
Founded in 1997, Sete (https://sete-sta.com.br/) is one of the largest environmental consulting companies in Brazil. Its permanent multidisciplinary technical team operates throughout Brazil and around the world for several international major mining and industrial companies.
The studies that Sete will undertake will complement the approvals process for a mining licence for the Tiros Project and the current community engagement programs that Resouro is undertaking.
Alistair Stephens, CEO of Resouro, commented:
“The involvement of Progesys and Sete for engineering and environmental studies in the Tiros Titanium and Rare Earth Elements Project is a significant milestone for Resouro. I am confident Progesys are the right team to manage the Project’s development, including overseeing the preliminary feasibility and environmental studies produced by Sete, ensuring the project progresses smoothly through to operations. Progesys’ proven capabilities, along with Jordana’s experience during the development phase at Serra Verde, will be highly valuable in guiding us through the Project’s key stages, positioning us for long-term success.”
Project Development builds on SEDE Partnership
As previously announced, Resouro has signed a non-binding Memorandum of Understanding (“MOU”) with the Minas Gerais State Economic Development Department (“SEDE”) and the Integrated Economic Development Institute (“Invest Minas”) (refer to ASX release dated 27th November 2024, TSXV 26th November 2024).
The SEDE partnership provides the foundation for the State of Minas Gerais and Invest Minas to assist with the advancement of Resouro’s Tiros Project. The partnership will allow the Company to collaborate with Invest Minas to progress the Project’s development towards permitting, construction and mining.
The appointment of Progesys to manage project development activities supports the Company’s commitment to project development, in alignment with the SEDE and Invest Minas MOU.
ONGOING WORK and NEXT STEPS
Resouro has a number of activities that will develop into near term announcements on work programs. The outcomes of these works are expected to form the basis for significant news flow in the first and second quarter of calendar 2025.
Drilling Results and Mineral Resource Update
Assays from the 2024 drill program are currently in the SGS Geosol laboratory in Belo Horizonte with assay results due in the near term. These are expected to form the basis of an updated JORC Resource Estimate.
Advancing Technical Programs
Resouro is making significant progress with metallurgical test-works at laboratories in Brazil and Australia for the separation and recovery for titanium dioxide, rare earths elements and other by-products. These works are being performed at laboratories in Perth, CIT Senai Laboratories in Belo Horizonte and at the University of São Paulo in Brazil. Initial results from this work should be available in the first quarter of 2025.
Demonstration Plant and Scoping Study at Tiros Northern Block
In parallel with these programs, the Company is moving forward with planning for a demonstration plant facility at the Tiros Northern Block, building on current metallurgical test work and the development of an optimised metallurgical flowsheet. Further to these technical programs, the Company will commence the highly anticipated first-stage Scoping Study, leading to prefeasibility and definitive feasibility studies.
This announcement has been authorized for release by the Board of Directors.
Contact Information:
About the Company
Resouro is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTCQB and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium and Rare Earths and project in Minas Gerais and the Novo Mundo Gold Project in Mato Grosso. The Tiros project represents 28 mineral concessions totalling 497 km2 located in the state of Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital. Resouro has released a Mineral Resource Estimate for the Tiros Project of 1.7 bn tonnes of Inferred, Indicated and Measured Resource (reference: ASX release ASX: RAU dated 18th July 2024, TSXV 17th July 2024).
|
DOMAIN
|
CAT
|
TONNES (t)
|
TiO2 (%)
|
TREO (ppm)
|
MREO (ppm)
|
|
HG (High Grade)
|
Inferred
|
42,000,000
|
23
|
8,700
|
2,200
|
|
Indicated
|
55,700,000
|
23
|
9,030
|
2,380
|
|
Measured
|
20,800,000
|
24
|
9,320
|
2,530
|
|
Sum
|
120,000,000
|
23
|
9,000
|
2,400
|
|
MG (Medium Grade)
|
Inferred
|
620,000,000
|
11
|
3,500
|
950
|
|
Indicated
|
704,000,000
|
11
|
3,650
|
1,020
|
|
Measured
|
224,000,000
|
11
|
3,570
|
997
|
|
Sum
|
1,500,000,000
|
11
|
3,500
|
930
|
|
Totals
|
1,700,000,000
|
12
|
3,900
|
1,100
|
Note: Further details of the Company’s Maiden JORC MRE are contained within the Company’s announcement of 18 July, 2024. Resouro is not aware of any new information or data that materially affects the information included in the Company’s announcement of 18 July 2024 and that all material assumptions and technical parameters underpinning the estimates referred to therein continue to apply and have not materially changed
Resouro Strategic Metals Inc., has the following capital structure at the time of this release.
|
TSXV Chess Depositary Interests
|
43,313,635
|
|
ASX Common Stock
|
49,276,414
|
|
Total on Issue
|
92,590,049
|
|
Shares in Restriction
|
1,642,000
|
|
Options (various strike prices)
|
16,581,259
|
|
Performance Rights
|
750,000
|
|
Fully Diluted Securities
|
109,921,308
|
Forward-Looking Information
This announcement contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in the mining industry; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this announcement is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the ASX, OTC, 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 release.
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