Brazil Gold Corp., www.brazilgold.com, today disclosed from their HQ in Seattle, Washington details regarding a definitive acquisition agreement with Swiss corporation Rusheen Handels AG, whereby BRZG will acquire all controlling interests currently held by Rusheen (99% ownership equivalent) in the Brazilian mineral exploration concern, Amazonia Capital e Partipacoes Ltda., which maintains exclusive rights to a resource-dense 2.125M-acre mineral patch in Brazil’s Amazon Basin.
The formal transfer is projected for completion prior to June this year, as the agreement essentially supersedes the previously announced letter of intent issued by the Company, which will take possession of Rusheen’s stake in Amazonia in exchange for 44M shares of BRZG common stock – the Company will also cancel 44M restricted shares as a transaction closing condition.
For the Company, which knows that the key to winning the mineral exploration game is controlling acreage with high-value resource deposits, the agreement represents the culmination of a policy of aggressively pursuing controlling interests in prime mineral properties.
The 2.125 acres (consisting of 102 mineral claims) lie in the heart of the Amazon Basin’s incredibly abundant Tapajos Greenstone Belt and, while the primary resource target is of course gold, the area is also replete with ancillary deposits of copper, iron ore, manganese nickel, and tin (cassiterite).
Located in Amazonas, Mato Grosso and Rondonia states, the properties already have adequate logistical support infrastructure to sustain optimal fuel, energy and manpower requirements for low-cost bulk-tonnage mining.
The area is ideally suited to this approach and was deliberately selected by the Amazonia team due to these characteristics, though the prevalence of proven gold reserves in the region – where tiny, hand-dug individual mines created by indigenous people known as garimpeiros dot the landscape and stretch back generations – is an added incentive.
VP and Director of BRZG, Phillip Jennings, was elated at acquiring the new asset to add to the Company’s portfolio of holdings driving shareholder value, noting that the vast effort already put into developing the location constitutes substantial forward momentum to capitalize on the booming gold market and provide all the right reasons to close this deal quickly and get to work.