Brazilian mining company Jupiter Gold received the exploration permit from the local mining department in Brazil for each of the three mineral rights that encompass its Serrita gold project.
The Serrita project covers around 5 500 ha and is located in the state of Pernambuco, in the north-eastern part of Brazil. Jupiter Gold owns 100% of the Serrita project.
The Serrita gold district is an area known to contain narrow high-grade gold mineralised quartz veins. Brazilian State-owned geology data agency Mineral Resources Research Company researched the province extensively and confirmed gold mineralisation in certain areas within the province.
Other companies that drilled in these districts have reported results as high as 56 g/t gold from channel sampling of gold-bearing quartz veins exposed in old settler workings.
Following the permitting, Jupiter Gold plans to quickly move to establish gold mineralisation within each of the three mineral rights of the Serrita project. In addition, the company’s technical team believes that copper, manganese, and nickel mineralisation may also occur within the Serrita project areas.
Jupiter Gold also fully owns several exploratory-stage projects in Brazil in gold, palladium, platinum and manganese. The company will be receiving 50% of the gold revenues from the Pindaíba project, its first royalty project, operated by Brazil Minerals, and which is expected to start first production in the third quarter of this year.
Additionally, Jupiter Gold owns 100% of six gold projects, 100% of a gold/palladium/platinum project, and 100% of a manganese project.