Homerun Resources Inc., a company based in Vancouver, has recently secured an exclusive agreement to acquire silica mineral rights in the municipality of Taperoá, Bahia, Brazil. The agreement, signed on June 10th, 2024, includes the mining rights 870.335/2022, 871.743/2016, 872.794/2015, and 870.051/2024, currently held by a local citizen through an individual legal entity.
A representative bulk sample from the deposit returned a value of 99.68% SiO2, indicating the potential for commercial-grade high-purity silica sand. The company will have a 90-day exclusivity period to conduct due diligence on the areas. If the results are satisfactory, a contract for the total assignment of mining rights will be negotiated, with royalties paid per ton of material extracted.
Dr. Roque Yuri Tandel, a Technical Consultant with over 30 years of experience, will assess the areas and confirm the legal standing of the mineral rights. Additionally, a local auditing firm will evaluate the legal and financial status of the current owner. Once the due diligence is complete, a comprehensive press release will be issued.
Brian Leeners, the CEO of Homerun, expressed excitement about the agreement, highlighting the strategic importance of adding the silica sand deposit to the company’s portfolio. The Property in Bahia will complement the company’s existing assets in Belmonte, catering to the global demand for high-purity silica.
Armando Farhate, the COO of Homerun, emphasized the geological similarities between the Bahia asset and the company’s flagship Belmonte asset. By acquiring this ground, Homerun aims to become a leading silica sands powerhouse in the Americas.
Homerun Resources focuses on critical and energy materials sectors, with a commitment to operational excellence and sustainability. The company’s goal is to create long-term value for shareholders by making a significant impact in these industries.
In conclusion, the exclusive agreement secured by Homerun Resources Inc. marks a significant milestone in the company’s growth strategy. With the potential for commercial-grade high-purity silica sand in Bahia, the company is well-positioned to meet the increasing global demand for these materials.
