Emerita Resources to Acquire Salobro Zinc Project, Brazil
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Emerita Resources Corp. has entered into a definitive agreement with Vale S.A. and IMS Engenharia Mineral Ltda. (IMS) pursuant to which Emerita has agreed to acquire the Salobro zinc project located in the Municipality of Porteinha, Minas Gerais State, Brazil.
In connection with entering into the definitive agreement, Emerita and IMS have entered into a binding letter of intent pursuant to which Emerita has agreed to incorporate and organize a Brazilian subsidiary to formally acquire the Salobro Project from IMS. Emerita will initially own 75 percent of the new company with an exclusive right to acquire the remaining 25 percent interest from IMS at its sole option.
“Emerita is excited to commence work on such an exciting zinc project. The Salobro deposit mineralization was delineated by the highly respected technical group of Vale and remains open for future expansion. The project is located in an area with excellent infrastructure and a supportive environment for responsible mine development. Emerita has an exceptional technical team in Brazil and is ready to advance the project quickly,” said David Gower, chairman of Emerita.
“This is an exceptional opportunity for Emerita given the successful drilling to date by the previous operators. Emerita also continues to be fully committed to acquiring the Aznalcóllar zinc project in Spain and with success, will have a very strong, advanced zinc project portfolio going forward,” said Joaquin Merino, president and CEO of Emerita.
To read more details in the company’s press release, CLICK HERE
About Emerita Resources
Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe, with a primary focus on exploring in Spain and Brazil. The Company’s corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
To stop by Emerita Resources’ website, CLICK HERE
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