Homerun Resources Inc. Commences Belmonte Silica District 2,000 Meter MRE Drilling Program

Rhea-AI Summary

Homerun Resources has commenced a 2,000-meter MRE auger drill program at the Belmonte high-purity silica deposit in Bahia, Brazil. Work began on May 20, 2024, with a local contractor and oversight by a team of geologists. Samples will be analyzed by SGS Geosol, and results will contribute to a 43-101 compliant Mineral Resource Estimate (MRE). The initiative is part of a 40-year lease with Companhia Baiana de Pesquisa Mineral (CBPM). CEO Brian Leeners emphasized the project's rapid value build within 12 months and under $1 million in capital investment.

Positive

• Commencement of 2,000-meter drilling program at Belmonte silica deposit.
• Local contractor secured for the drill program, initiated on May 20, 2024.
• Samples to be analyzed by SGS Geosol for precise results.
• Drilling results to contribute to a 43-101 compliant Mineral Resource Estimate (MRE).
• Partnership with CBPM under a 40-year lease agreement.
• Rapid value build within 12 months and under $1 million in capital investment.

Negative

• No concrete results yet from the drilling program.
• Initial costs and potential future expenses related to continued exploration.
• Dependence on the accuracy of the SGS Geosol analysis.
• Risk associated with the environmental impact and safety of the drilling process.

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has started its 2,000-meter MRE auger drill program at the Belmonte high-purity silica deposit in Belmonte, Bahia, Brazil.

The company has secured the services of a local contractor for the execution of the 2,000-meter drill program, and work commenced on May 20, 2024. The MRE geology team, comprising the Company QP and two local geologists, will oversee the execution of the drill program, with support from the company's Management team.

The samples obtained during the drill program will be sent to SGS Geosol for chemical analysis. The Homerun Geo team aims to use the information generated by this drill program to issue a 43-101 compliant Mineral Resource Estimate (MRE).

The drilling program is part of Homerun's commitment under its partnership with Companhia Baiana de Pesquisa Mineral (CBPM), within the scope of the 40-year lease agreement between the parties.

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Brian Leeners, CEO of Homerun stated, "In my +25 years of experience, I have never seen a project like Belmonte. Where in less than 12 months, and for less than US$1.0 million in capital investment, we are building such an incredible amount of value. Traditionally this type of value build takes years in the materials sector. Shareholders of Homerun should be excited or seriously get tested for a pulse."

"The drilling program on the Belmonte resource aims to document and formalize what is already clear to the naked eye: the unique size and quality of the Belmonte silica sand deposit. Nonetheless, the Homerun Geo team has the mandate to conduct the drilling work at world class levels of safety, environmental preservation, and accuracy - and I am confident that they will deliver," says Armando Farhate, COO of Homerun.

Qualified Person
Nico Scholtz is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mr. Scholtz is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400299/07). Mr. Scholtz is the Company's "Qualified Person" as defined by NI 43-101.

About Homerun Resources (https://homerunresources.com/)
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries. 

On behalf of the Board of Directors of
Homerun Resources Inc.

"Brian Leeners"

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210226

FAQ

When did Homerun Resources start the drilling program at the Belmonte silica deposit?

Homerun Resources started the 2,000-meter MRE drilling program on May 20, 2024.

What is the goal of Homerun Resources' drilling program at Belmonte?

The goal is to issue a 43-101 compliant Mineral Resource Estimate (MRE) based on the drilling results.

Who is conducting the chemical analysis for Homerun Resources' drilling samples?

The chemical analysis will be conducted by SGS Geosol.

What is the significance of the 40-year lease agreement for Homerun Resources?

The 40-year lease agreement with Companhia Baiana de Pesquisa Mineral (CBPM) enables long-term exploration and development of the Belmonte silica deposit.

What makes the Belmonte silica deposit project significant for Homerun Resources?

The project is significant due to its rapid value build within 12 months and under $1 million in capital investment, as stated by CEO Brian Leeners.