Resouro Strategic Metals lodged a Mining Concession Application for its Novo Mundo gold project in Brazil, covering 930 hectares. A grant would convert the trial mine into a fully licensed commercial operation in the Alta Floresta Gold Province.
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Resouro Strategic Metals Inc. took another step toward long-term production at its Novo Mundo gold project in Mato Grosso, Brazil. The company's Brazilian subsidiary lodged a Mining Concession Application on July 16 for the 930-hectare area covered by ANM Process No. 866.035/2009.
The application covers ground where Resouro already operates a trial mine under a Guia de Utilização permit. A grant would authorize full commercial mining, converting the trial operation into a licensed, long-term asset.
"Lodging of the Mining Concession Application is a key regulatory step toward converting our trial mining operation at Novo Mundo into a fully licensed, long-term producing asset," CEO Christopher Eager said in a statement. He called it "steady execution of our permitting strategy in the Alta Floresta Gold Province."
Novo Mundo sits in the Alta Floresta Gold Province, one of Brazil's prolific gold regions. The project has been explored by Rio Tinto Zinco, RJK Resources, Graben Mineração, and Nexa Resources before Resouro acquired it. An independent technical report by GE21 Consultoria Mineral, prepared for Resouro's ASX listing, identified multiple porphyry-epithermal gold targets.
Resouro accelerated work at Novo Mundo in 2026, running diamond drilling, UAV surveys, geological mapping, and re-logging historical drill core. The company also signed a binding mining and processing agreement with Buriti Gold Mineração and Future Mining to start bulk processing while the permit process ran.
The company's flagship remains the Tiros Titanium and Rare Earth Elements Project in Minas Gerais, supported by a JORC-compliant resource estimate and a preliminary economic assessment for a starter operation. Resouro also holds 28 mineral concessions covering 497 square kilometers in the state.
Rodrigo Mello, FAusIMM, a consultant to Resouro and a shareholder, reviewed and approved the technical information in the announcement. He is the Qualified Person under Canadian NI 43-101 and Competent Person under the 2012 JORC Code.
The application is the next stage in Brazil's ANM licensing process. A decision timeline was not disclosed.
Resouro trades on the TSX Venture Exchange under RSM, on the ASX under RAU, on the OTCQB under RSGOF, and on the Frankfurt Stock Exchange under 8TX.
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