RE: Another piece of the jigsaw falls into place2 Mar 2025 16:01
Thanks @Zoom56.
that's positive, and almost a year since the mention of potential extended mine plans RNS March 7th 2024:
Amapás Development of Joint Venture Iron Ore Mineral Resources on the Tucano Gold Mine
In addition to the Amapá Project's current inventory of 276.24 million tonnes of measured, indicated and inferred mineral resources at 38.33% Fe there is further 143.5 million tonnes at 36.77% of historical resource on the adjacent concessions owned by the Tucano Gold Mine. In addition, during the mine's operation, the previous owners identified four areas within the Tucano Gold Mines tenement with a mineral potential of around 500 million tonnes of iron ore.
The Amapá Project has a right to explore and mine these areas for iron ore, which are governed by various joint operating agreements
Now that the Tucano Gold Mine plans to restart its operations, **we have been in discussions and have requested the complete set of geological data, including drill data and assay results, to review the historic mineral resource, with the target of bringing these mineral resources into the mine plan, extending the mine and improving the economics**
The private equity group seems to be very keen!
CALGARY, AB February 20, 2025 – Tucano Gold Inc. (“Tucano” or the “Company”) is pleased to announce it has entered into a binding letter of intent with a leading private equity group (the “Investor”) for a C$98 million equity investment. **The financial commitment is significantly upsized from the Investor's initial proposal of C$45.9 million. This follows extensive due diligence and will meet full project funding requirements to restart production and accelerate development and exploration opportunities**
I wonder if the Iron ore and railroad were/are in their sights?
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