Aura Minerals Inc. (“Aura” or the “Company”) is pleased to announce that it has recently indirectly acquired exploration permits, known as the Serra da Estrela Project (“Serra da Estrela Project”) in the State of Pará, Brazil, in the Carajás region (the “Acquisition”). Aura has made an initial payment of US$3 million and if it elects to continue to explore the Serra de Estrela Project, further future payments will be required.
Serra da Estrela Project (Figure 1) is an exploration permit totaling 9,805 hectares, which includes iron oxide, copper, and gold (“IOCG”) mineralization targets along a 6 km strike with a surface anomaly (up 500 ppm Cu). Prior work includes 9 historical mineralized exploration holes totaling 2,552 meters, previously drilled by Anglo American. Aura intends to undertake exploration activities to test the continuity and economic grades of the target. Carajás Mineral Province is one of the most important polymetallic districts in the world and hosts several IOCG deposits such as Sossego and Salobo Mines (owned by Vale), Pedra Branca, Igarapé Bahia-Alemão, Cristalino, Gameleira and Alvo 118.
Rodrigo Barbosa, President & CEO, commented, “Aura is delivering its growth strategy of 86% growth by bringing online our three new mines in Brazil by 2025. Additionally, we continue to see excellent opportunities to grow our resource base by adding to our exploration pipeline. The addition of Serra da Estrela gives us potential long-term exposure to copper in the world class mining jurisdiction of Carajás, while our exposure to gold continues to grow.”
Source: http://www.auraminerals.com