South Atlantic Gold Inc. has provided a general status update on its tenements and permitting status for the Pedra Branca project and the advances that have been made throughout this year.
Highlights:
- Throughout the last 12 months, the company has successfully submitted the ANM with the National Mining Agency of Brazil which provides the guidance rules of the final exploration report (FER) for three tenements (800.036/2016, 800.037/2016 and 800.341/2016) and has also submitted the partial exploration report (PER) and requested the permit extension of one tenement (800.385/2021).
- With regards to its three main tenements (Queimadas, Coelhos and Mirador):
- The company has worked with Secretaria de Meio Ambiente do Estado do Ceara the environmental agency of the state of Ceara (SEMACE) in the last two years to present the project and all necessary documentation to start the licensing process. On April 30, 2024, SEMACE issued the terms of reference stablishing the minimum requirements for the environmental studies in the area of influence of the project. The document is valid for one year:
- Previously, ANM has successfully approved the mine concession plan of the company which was filed back in 2019 for its three main tenements (Queimadas, Coelhos and Mirador), with such approval, the company has received a request to advance the permit to an operational licence to be provided by SEMACE. To achieve such licence, it is necessary to provide an environmental impact study (EIA) and respective environmental impact report (RIMA) based on the terms of reference issued above.
- Previously, ANM has successfully approved the mine concession plan of the company which was filed back in 2019 for its three main tenements (Queimadas, Coelhos and Mirador), with such approval, the company has received a request to advance the permit to an operational licence to be provided by SEMACE. To achieve such licence, it is necessary to provide an environmental impact study (EIA) and respective environmental impact report (RIMA) based on the terms of reference issued above.
- While environmental studies are being prepared, the company is providing an update to ANM every 180 days as part of the general compliance requirement.
- The company has worked with Secretaria de Meio Ambiente do Estado do Ceara the environmental agency of the state of Ceara (SEMACE) in the last two years to present the project and all necessary documentation to start the licensing process. On April 30, 2024, SEMACE issued the terms of reference stablishing the minimum requirements for the environmental studies in the area of influence of the project. The document is valid for one year:
- The company is also working and is expected to submit the PERs and request for permit extension of another five tenements (800.431/2021, 800.432/2021, 800.433/2021, 800.434/2021 and 800.435/2021) by the end of November, 2024.
- The FERs filed for 15 tenements in 2022 and three tenements in 2023 are still under analysis by the ANM. There is no set deadline for a response from the government, however, the company considers such areas a lower priority for exploration at this stage.
- All tenements remain in good standing.
The company is continuously looking for potential developments and advancements for Pedra Branca, including an exploration plan, as well as potential transactions with other business and opportunities.
About South Atlantic Gold Inc.
South Atlantic Gold is an exploration company engaged in acquiring and advancing mineral properties located in the Americas. Its flagship asset is the 100-per-cent-owned Pedra Branca project, located 280 kilometres (km) southwest of Fortaleza, Ceara state, Brazil.
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