Sonoran Desert Copper Corporation Chromite Deposit Acquisition in Bahia, Brazil
Sonoran Desert Copper (TSXV: SDCU) has signed a Letter of Intent to acquire a 100% interest in the Bahia Chromite Project in Brazil. The project, located 310km from Salvador near Piritiba municipality, is being acquired from Beko Invest Historical exploration results showed chromium values ranging from 19.3% to 50% Cr2O3.
The acquisition terms include total cash payments of US$1.3 million over 24 months, starting with an initial payment of US$80,000 upon definitive agreement execution, followed by four payments of US$305,000 each. The deal includes a 2% Net Smelter Royalty to the vendor. The company plans to fast-track development with a pilot plant production and will prepare a detailed Capital Budget within 90 days.
Sonoran Desert Copper (TSXV: SDCU) ha firmato una Lettera di Intenti per acquisire una partecipazione del 100% nel Bahia Chromite Project in Brasile. Il progetto, situato a 310 km da Salvador vicino al municipio di Piritiba, viene acquisito da Beko Invest. I risultati delle esplorazioni storiche hanno mostrato valori di cromo compresi tra il 19,3% e il 50% di Cr2O3.
Le condizioni di acquisizione prevedono pagamenti totali in contante di US$1,3 milioni distribuiti su 24 mesi, a partire da un pagamento iniziale di 80.000 USD al momento dell'esecuzione dell'accordo definitivo, seguito da quattro pagamenti di 305.000 USD ciascuno. L'accordo include una Royalty sul Fuso di Metallo netto del 2% a favore del venditore. La società prevede di accelerare lo sviluppo con una produzione pilota e si prepara a elaborare un bilancio capex dettagliato entro 90 giorni.
Sonoran Desert Copper (TSXV: SDCU) ha firmado una Carta de Intención para adquirir un 100% de interés en el Bahia Chromite Project en Brasil. El proyecto, ubicado a 310 km de Salvador, cerca del municipio de Piritiba, está siendo adquirido de Beko Invest. Los resultados de exploración histórica mostraron valores de cromo que varían del 19,3% al 50% de Cr2O3.
Los términos de adquisición incluyen pagos totales en efectivo de US$1.3 millones durante 24 meses, comenzando con un pago inicial de US$80,000 al momento de la ejecución del acuerdo definitivo, seguido de cuatro pagos de US$305,000 cada uno. El acuerdo incluye una regalía del 2% sobre las ganancias netas al vendedor. La compañía planea acelerar el desarrollo con una planta piloto de producción y preparará un presupuesto de capital detallado dentro de 90 días.
소노란 사막 구리 (TSXV: SDCU)은 브라질의 바히아 크로마이트 프로젝트에 대한 100% 지분을 인수하기 위한 의향서(Letter of Intent)를 체결했습니다. 이 프로젝트는 살바도르에서 310km 떨어진 피리티바 자치체 근처에 위치하며, Beko Invest로부터 인수하고 있습니다. 과거 탐사 결과는 크롬 값이 19.3%에서 50% Cr2O3 사이임을 보여주었습니다.
인수 조건에는 24개월 동안 총 130만 달러의 현금 지불이 포함되며, 초기 지급액은 최종 계약 체결 시 8만 달러로 시작되고, 이후 30만 5천 달러의 4회 분할 지급이 이어집니다. 이 거래에는 판매자에게 2%의 순 용광로 로열티가 포함됩니다. 회사는 파일럿 플랜트 생산으로 개발을 신속하게 진행할 계획이며, 90일 이내에 상세한 자본 예산을 준비할 것입니다.
Sonoran Desert Copper (TSXV: SDCU) a signé une lettre d'intention pour acquérir une participation de 100% dans le projet Bahia Chromite au Brésil. Le projet, situé à 310 km de Salvador près de la municipalité de Piritiba, est acquis auprès de Beko Invest. Les résultats d'exploration historiques ont montré des valeurs de chrome allant de 19,3 % à 50 % de Cr2O3.
Les conditions d'acquisition comprennent des paiements en espèces totalisant 1,3 million de dollars US sur 24 mois, avec un paiement initial de 80 000 dollars US lors de l'exécution de l'accord définitif, suivi de quatre paiements de 305 000 dollars US chacun. L'accord comprend une redevance nette de fusion de 2 % en faveur du vendeur. L'entreprise prévoit d'accélérer le développement avec une production de pilote et préparera un budget d'investissement détaillé dans les 90 jours.
Sonoran Desert Copper (TSXV: SDCU) hat ein Absichtsschreiben zur Übernahme von 100% der Anteile am Bahia Chromite Project in Brasilien unterzeichnet. Das Projekt, das sich 310 km von Salvador in der Nähe der Gemeinde Piritiba befindet, wird von Beko Invest erworben. Historische Explorationsresultate zeigten Chromwerte zwischen 19,3% und 50% Cr2O3.
Die Übernahmebedingungen umfassen Gesamtbarzahlungen von 1,3 Millionen US-Dollar über einen Zeitraum von 24 Monaten, beginnend mit einer ersten Zahlung von 80.000 US-Dollar bei Ausführung des endgültigen Vertrags, gefolgt von vier Zahlungen von jeweils 305.000 US-Dollar. Der Vertrag beinhaltet eine 2%ige Nettoverhüttungsroyalty an den Verkäufer. Das Unternehmen plant, die Entwicklung mit einer Pilotproduktionsanlage voranzutreiben und wird innerhalb von 90 Tagen einen detaillierten Kapitalbudget vorbereiten.
- Historical exploration results show high-grade chromium values (19.3% to 50% Cr2O3)
- Structured payment terms spread over 24 months reduces immediate financial burden
- Fast-track development plan with pilot plant production potential
- Project has existing research reports and previous development work
- Significant cash commitment of US$1.3 million required for acquisition
- 2% Net Smelter Royalty obligation on all production
- Previous mining application was rejected due to lack of Environmental License
- Project requires new environmental permits and regulatory approvals
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2024) - Sonoran Desert Copper Corporation (TSXV: SDCU) ("SDCU'' or the "Company") is pleased to announce that the Company has signed a Letter of Intent (the "LOI") dated December 3rd 2024, to acquire a 100-per-cent interest in the Bahia Chromite Project (the "Bahia Chromite Project"). The Bahia Chromite Project is in the northern region of the State of Bahia, Brazil, near the municipality of Piritiba, which is 310km from Salvador via BR-324 and BR-052 to Mundo Novo and BR-421 to Piritiba (all paved).
The Bahia Chromite Project is being acquired from Beko Invest Ltd., based on the previous extensive development work, completed under permit No. 1807 of 20.06.78, Official Gazette of 15.07.77 - MME-DNPM 808.223/75 of SOGEMINE-EM, including a final research report approved by the Brazilian Mineral Agency (ANM), and the filing of the Mining Application, which was assessed by the ANM. The Mining Application submitted by SOGEMINE was rejected for lack of presentation of the Environmental License. SOGEMINE did not advance to production due to the commercial strategies and internal strategies of the parent companies which owned SOGEMINE.
The chrome market throughout Latin America, has been dominated by Ferbasa, which has focused on its main production center in the region of Campo Formoso, where it has significant reserves to guarantee the operation of its chrome alloy factory for many years. Ferbasa no longer pursues new deposits for the enterprise. J.P Silva Rocha Estudos Geológicos Ltda, has verified the accuracy of the research procedures carried out at the Bahia Chromite Project through visits and field inspections corresponding to the information in the historical reports including the mapping, geophysical, geochemical and geological interpretations, thus avoiding unnecessary reworks. In addition, a review was conducted regarding the environmental aspects of the Bahia Chromite Project, which were determined to be favourable since locally there is minimal vegetation cover and there will be minimal disturbance to the surface and based on the final positive research report approved by the DNPM.
Fast-Track Development Plans
The Company is working to retain the services of a chromite expert consultant who formerly worked for Ferbasa and has been historically involved in the Bahia Chromite Project. Historical exploration results from Bahia Chromite Project yielded chromium values ranging from
Transaction Details
The proposed terms and conditions of the Purchase Option, which will be the basis of the terms and conditions to be set forth in a definitive agreement (the "Definitive Agreement") between the parties, are as follows:
(a) In order to exercise the Purchase Option, SDCU will advance total cash payments to the Vendor of the BC Project of US
(i) SDCU will make a US
(ii) SDCU will make a US
(iii) SDCU will make a US
(iv) SDCU will make a US
(v) SDCU will make a US
(b) The Parties agree that a two percent Net Smelter Royalty will granted in favour of the Vendor on all production of all materials from the BC Project.
Closing Conditions.
The execution of the Definitive Agreements will be subject to the following conditions:
(a) Each Party obtaining all necessary and appropriate governmental, regulatory, contractual, board of director, shareholder, member and other third-party licenses, permits, approvals and/or consents which are required to execute the Definitive Agreements.
(b) SDCU obtaining TSX Venture Exchange approvals for the transaction.
(c) Such other necessary and appropriate conditions as the parties shall mutually agree during their negotiations of the Definitive Agreements.
Qualified Person Statement
The technical contents of this release were approved by Andre L. Costa, P.Geo., FAIG, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company.
References
(1) Definitive Feasibility Study of SOGEMINE Empressa de Mineracao Ltda, dated August 12, 1983, by Arther W. Ruff. Permit No. 1807 of 20.06.78, Official Gazette of 15.07.77 - MME-DNPM 808.223/75.
(2) Final report filled at the ANM - Brazilian Mining Agency. Claim # 870.024/2024. Exploration permit #60 published on 02/10/2021 by J. P Silva Rocha Estudos Geológicos Ltd.
ABOUT SONORAN DESERT COPPER CORPORATION
Sonoran Desert Copper Corporation is focused on securing, developing and monetizing materials assets and technologies to build shareholder value.
On behalf of the Board of Directors of
SONORAN DESERT COPPER CORPORATION
"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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232762
FAQ
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