[ad_1]
MONTREAL, July 22, 2019 (GLOBE NEWSWIRE) – Auxico Resources Canada Inc. (CST: AUAG) is pleased to announce that he has signed an option contract to acquire a 100% interest in the property Porto Grande (Cupixi) (the "Property"), located in the city of. state of Amapá, Brazil. The property currently belongs to Retiro Gonçalves / Mineração Tantaline and covers an area of approximately 739 hectares, located 60 km from the city of Porto Grande. The property has exploration and marketing (export) permits for tin, gold, tantalum and niobium. The Porto Grande property contains occurrences of tantalum, niobium and tin, according to the laboratory results submitted to Auxico. According to the Company's geological consultants in Brazil, Mineração Tantaline and Dr. Arnaldo do Nascimento Vieira, the property is located in the Gleba-Matapi tantalum-niobium, gold and tin district, 160 km from the city of Macapá.
Auxico may acquire 100% of the Porto Grande property for a total consideration of USD 2 million, subject to due diligence. Auxico has 120 days to carry out this due diligence, which it intends to start immediately. This due diligence will include, but not be limited to, sampling and geological testing of the property.
Qualified person
This news release has been reviewed and approved by Joel Scodnick, P.Geo., Independent consultant to Auxico, as a Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
| "signed" | "signed" |
| Pierre Gauthier | Mark Billings |
| President and Chief Executive Officer, Auxico Resources Canada Inc. | President, Auxico Resources Canada Inc. |
| [email protected] | [email protected] |
| Cell: +1 514 299 0881 | Cell: +1 514 296 1641 |
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. ("Auxico") is a Canadian company founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mining properties in Colombia, Brazil and Mexico.
Warning
The Qualified Person of Auxico has not reviewed any relevant technical or legal information about the property of Porto Grande and therefore can not inform the public of the benefits of this property. The technical information available to Auxico does not comply with NI 43-101 and can not be relied on.
Additional information about Auxico is available on the company's website (www.auxicoresources.com) or on SEDAR (www.sedar.com) under "Auxico Resources Canada Inc."
The Canadian Securities Exchange (CSE) has not reviewed and accepts no responsibility for the adequacy or accuracy of the contents of this release.
Source link
