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Resouro Strategic Metals Inc. Recommencing Drilling and Drilling Results

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Resouro Strategic Metals Inc. Recommencing Drilling and Drilling Results

 

 

 

 

 

 

Resouro Strategic Metals Inc. (TSX-V: RSM) (FSE: BU9) (OTC: RSGOGF) is pleased to provide an update on activities at the Tiros Rare Earths and Titanium project in Brazil.

 

 

Highlights:

 

  • Recommencing of drilling for infill drilling for calculation of a potential JORC compliant resource.
  • Latest drill results include the following;
    • FDTIR-05: Diamond drill, 13 meters at 5,512ppm TREO, 1,158NdPr and 16.73% TiO2 from 19 meters;
    • FDTIR-12: Diamond drill, 20 meters at 6,789ppm TREO, 1,570 NdPr and 16.11% TiO2 from 44 meters;
    • FDTIR-14: Diamond drill, 28 meters at 5,519ppm TREO, 1,200 NdPr and 16.14% TiO2 from 22 meters;
    • FDTIR-25: Diamond drill, 22 meters at 5,597ppm TREO, 1,375 NdPr and 12.65% TiO2 from 46 meters.

 

 

 

Recommencing of Drilling

 

 

Following the successful recent capital raising, the Company commenced the works associated with the work program detailed in the prospectus lodged with the Australian Securities and Investments Commission on May 1, 2024, including an assessment of the data collected and confirmation, where possible, of the likely resource boundaries, average grades and thicknesses of mineralization at the Tiros Project.

 

Whilst the data assessment is currently being reviewed by an independent competent person (Atticus Geo Consultants), Resouro has also undertaken further exploration including “scout holes” and infill drilling with an aim to define a mineral resource estimate for the Tiros Project in accordance with JORC Code.

 

Figure 1 Drill Plan of the Tiros Central Deposit Infill Drilling and Scout Hole Program

 

 

Latest Drill Results

 

 

The exploration team has recently received and analyzed the latest results from the latest drilling program including the diamond drilling (DD) with excellent results summarized in the table below.

 

 

Hole_ID Type From To Thickness  TiO2 % NdPr ppm TREO ppm
ACTIR-51 Air Core 10 58 48 11.72 804 3,916
Includes Air Core 16 22 6 22.12 763 6,300
ACTIR-52 Air Core 13 35 22 15.41 1,104 4,779
Includes Air Core 15 17 2 23.84 426 3,617
ACTIR-53 Air Core 9 55 46 11.06 909 3,868
Includes Air Core 16 20 4 23.26 2,743 10,708
ACTIR-54 Air Core 2 52 50 11.54 892 3,806
Includes Air Core 7 13 6 19.86 1,691 7,336
ACTIR-55 Air Core 37 82 45 12.44 1,031 4,404
Includes Air Core 43 50 7 20.70 1,861 7,985
ACTIR-56 Air Core 2 47 45 10.23 856 3,679
Includes Air Core 3 6 3 20.84 869 5,579
ACTIR-59 Air Core 39 86 47 10.00 1,045 4,196
Includes Air Core 50 56 6 18.33 2,473 9,146
ACTIR-60 Air Core 19 76 57 11.36 979 4,143
Includes Air Core 26 33 7 16.59 1,954 8,062
FDTIR-04 Diamond 13 33 20 13.99 1,050 4,979
Includes Diamond 21 26 5 21.72 2,107 9,093
FDTIR-05 Diamond 19 31.9 12.9 16.73 1,158 5,512
Includes Diamond 26 31.9 5.9 20.55 2,172 9,660
FDTIR-06 Diamond 35 49 14 13.69 1,148 4,926
Includes Diamond 36 41 5 22.16 1,603 7,260
FDTIR-07 Diamond 12 18.45 6.45 10.47 1,385 5,442
FDTIR-08 Diamond 15 71 56 11.21 1,000 4,305
Includes Diamond 21 28 7 21.15 2,181 9,055
FDTIR-09 Diamond 39 91 52 14.11 1,010 4,793
Includes Diamond 50 58 8 26.25 1,525 7,868
FDTIR-11 Diamond 36 54.4 18.4 13.09 1,122 4,957
Includes Diamond 42 46 4 25.43 2,394 10,264
FDTIR-12 Diamond 44 63.8 19.8 16.11 1,570 6,789
Includes Diamond 52 58 6 27.23 3,229 12,937
FDTIR-13 Diamond 19 79 60 12.00 989 4,046
Includes Diamond 24 35 11 19.26 2,042 7,744
FDTIR-14 Diamond 22 50.15 28.15 16.14 1,200 5,519
Includes Diamond 31 39 8 25.42 2,495 10,721
FDTIR-15 Diamond 44 99 55 12.15 799 3,881
Includes Diamond 49 62 13 21.11 1,215 6,504
FDTIR-16 Diamond 38 90 52 11.29 1,112 4,630
Includes Diamond 45 51 6 21.86 2,010 8,268
FDTIR-17 Diamond 43 91.75 48.75 12.60 1,071 4,850
Includes Diamond 50 63 13 18.79 1,803 8,008
FDTIR-18 Diamond 13 64 51 14.85 1,201 5,110
Includes Diamond 18 33 15 17.66 1,812 8,158
FDTIR-19 Diamond 12 77 65 11.36 928 4,034
Includes Diamond 18 24 6 25.10 1,704 8,199
FDTIR-20 Diamond 17 67.25 50.25 12.23 966 4,062
Includes Diamond 26 31 5 24.96 2,138 9,417
FDTIR-21 Diamond 30 56.35 26.35 12.34 1,001 4,537
Includes Diamond 38 43 5 19.84 1,947 8,239
FDTIR-22 Diamond 19 76.6 57.6 11.55 1,074 4,719
Includes Diamond 30 38 8 23.00 2,304 10,338
FDTIR-23 Diamond 43 89 46 11.66 951 4,392
Includes Diamond 49 52 3 23.10 2,257 10,890
FDTIR-24 Diamond 45 67.35 22.35 9.79 1,231 5,021
Includes Diamond 49 53 4 17.10 1,855 7,623
FDTIR-25 Diamond 46 68.15 22.15 12.65 1,375 5,597
Includes Diamond 53 58 5 19.77 2,329 9,746
FDTIR-26 Diamond 18 67 49 15.98 1,080 5,150
Includes Diamond 26 31 5 22.25 1,762 8,819
Includes Diamond 40 43 3 18.80 1,104 5,245
Includes Diamond 48 56 8 20.26 1,330 5,712
FDTIR-27 Diamond 28 88 60 10.65 739 3,319
Includes Diamond 38 42 4 21.76 1,587 9,064
FDTIR-28 Diamond 11 69 58 12.20 848 4,130
Includes Diamond 20 26 6 21.44 979 7,479
FDTIR-29 Diamond 27 83 56 14.04 1,122 4,933
Includes Diamond 29 34 5 24.64 532 3,892
Includes Diamond 38 49 11 21.40 1,556 7,926
FDTIR-30 Diamond 41 107 66 10.19 776 3,632
Includes Diamond 54 60 6 21.24 1,831 8,096
FDTIR-31 Diamond 36 94 58 11.24 884 3,886
Includes Diamond 44 50 6 21.80 1,477 8,426
FDTIR-32 Diamond 34 98.05 64.05 12.38 877 4,054
Includes Diamond 44 48 4 22.90 1,930 8,854
FDTIR-33 Diamond 38 94 56 10.79 780 3,654
Includes Diamond 48 53 5 23.35 1,922 9,422

Table‑1 Latest Drilling Results

 

Quality Assurance Quality Control

 

 

A QA/QC program is in place for every batch of samples sent to the laboratory including blanks, different types of standards, for REE and titanium, and field duplicates. Further, a number of samples in each batch are later chosen for testing in a secondary laboratory and in the primary laboratory, as pulp or coarse .

 

 

Qualified Person

 

 

The technical content of this news release has been reviewed and approved by Rodrigo Mello B.Sc. Geology, FAusIMM and a qualified person as defined by National Instrument 43-101. Mr. Mello has reviewed and verified the drilling and assay data included in this announcement.

 

 

Commenting on the latest drilling and assay results and drilling update for the Tiros Project, CEO and President of Resouro, Chris Eager, commented:

 

 

“Following on previously reported high levels of TREO, NdPr and TiO2 grades reported at the Tiros Central block are exciting. Recommencing the drilling program after reviewing the recent data has allowed the Company to plan better for the present drilling and to allow the project to progress its geological resource model with the aim to achieve a Maiden JORC Resource for Tiros Central. This drilling further confirms the high grade and massive size potential of Tiros project as a whole.”

 

 

Update on ASX Listing

 

 

Resouro lodged the Prospectus to raise AUD$8.0 million (approximately CAD$7.2 million) via the offer of 16,000,000 CHESS Depository Interests over common shares in the capital of the Company at an offer price of AUD$0.50 (approximately CAD$0.45) per CDI. Resouro intends to use the net proceeds raised pursuant to the Offer to increase shareholder value through the identification, exploration, definition and development of its Tiros Rare Earth Elements and Titanium Project, and Novo Mundo Gold Project as well as to meet working capital requirements.

 

 

The Offer opened on May 9, 2024, in Australia and closed on May 23, 2024. It is envisaged that CDIs will be issued on or around June 11, 2024, in Australia. The listing of the Company on the ASX remains subject to the Company meeting the listing criteria of the Australian Securities Exchange (“ASX”) and the Company is working through the standard conditions of admission. Subject to the satisfaction of ASX’s conditions to admission, the Company is targeting a listing date on the ASX of on or around June 14, 2024.

 

 

Upon successful completion of the listing, Resouro’s securities will be tradable on the TSX Venture Exchange (TSXV:RSM), the Frankfurt Stock Exchange (FSE:BU9), the Over-the-Counter market in the USA (OTC:RSGOGF) and the Australian Stock Exchange (ASX:RAU), providing investors with increased flexibility and accessibility.

 

 

About Resouro Strategic Metals Inc. 

 

 

Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the rare earth elements and titanium Tiros Project and the Novo Mundo and Santa Angela gold projects.

 

 

The Tiros Project, located in northern Minas Gerais, Brazil, is an early-stage exploration project focused on rare earth elements and titanium covering an area of approximately 450 km2. The Tiros Project comprises 17 exploration permits, and one exploration permit application held by the Company’s Brazilian subsidiary; and 6 exploration permits and one exploration permit application that have been validly assigned to the Company’s Brazilian subsidiary and are awaiting ANM approval. The Company holds, via its wholly owned Brazilian subsidiary, a 90% interest in the Tiros Project and the remaining 10% interest in the Tiros Project is held by RBM Consultoria Mineral Eireli (RBM), an unrelated third-party vendor.

 

 

The Novo Mundo Project is located in the Alta Floresta Gold Province close to the northern border of the state of Mato Grosso, central Brazil. Within the licensed area is the small town of Novo Mundo, which is 30km west from the larger town of Guarantã do Norte. It comprises three exploration permits. The Company also has another interest in an exploration permit, being the Santa Angela Project, which is not considered material to the Company’s operations. Interests in the Novo Mundo Project and Santa Angela Project are held via the Company’s wholly owned subsidiary.

 

 

 

 

Posted June 5, 2024

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