SRC Announces First New Quarry License
June 13, 2024 (Source) — Stakeholder Gold Corp.(TSXV: SRC) (“Stakeholder” or the “Company”) is pleased to announce the receipt of licensing for the Company’s second (2nd) quarry, a White Quartzite Quarry located in Minas Gerais, Brazil near to the Company’s first operating quarry.
On the June 12th the State Forestry Institute of Minas Gerais, Instituto Estadual de Florestas (“IEF”), granted Stakeholder’s Brazilian Subsidiary, Mineração VMC Ltda. (“VMC”), authorization to clear the new project area for commercial production. VMC has now commenced building quarry infrastructure on site for the Company’s second operating quarry.
A sample block is being produced for marketing purposes. Full commercial operations will begin once the Regional State Environmental Agency, Superintendência Regional de Meio Ambiente, (“SUPRAM”) grants the environmental license, which is now pending.
“White quartzite from Diamantina and the surrounding region is in strong demand. Many buyers have had difficulty sourcing white quartzite for their cutting and polishing operations. We believe that our new white quartzite quarry will find a ready market with steady demand, and that it will provide healthy margins and steady operating profits for the company,” said Marcus Chase, president of VMC.
Figure 1 – White Quartzite produced from test block, VMC Quarry # 2
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Four (4) New Quarries Planned for 2024
Licensing for VMC’s third (3rd) quartzite quarry is also nearly complete. The application for an environmental license has received an initial response from SUPRAM. The area under consideration has already been issued a license by the federal mining agency, the Agencia Nacional de Mineração (“ANM”), and so VMC will be able to begin commercial operations immediately upon receipt of an environmental license. The Company expects to be able to report progress on this licensing application shortly.
Figure 2 – Blue-Grey Quartzite produced from test block, VMC Quarry # 3
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“The blue quartzite produced from the company’s proposed third quarry, has excellent esthetic and physical characteristics. The test block has an attractive mix of blue and white, and the material cuts and polishes easily. These characteristics will appeal to our clients.”
VMC’s second (2nd) and third (3rd) quarries (Figures # 1&2 above) are both located within a 2km radius of the Company’s current operating quarry. The Company expects to benefit from synergies resulting from access to existing personnel and equipment.
VMC’s planned fourth and fifth (4th and 5th) quarries are also currently in pursuit of licensing. The materials for these proposed quarries have never been brought to market and will likely be able to command premium prices which the Company anticipates being in the range $2,500 USD/m3.
Figure 3 – Grey-White Quartzite produced from test block, VMC Quarry # 4
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Figure 4 – Teal Blue Quartzite produced from test block, VMC Quarry # 5
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“Our objective is to expand from a single operating quarry to five (5) operating quarries in 2024. We are also initiating direct sales of these building materials into the Canadian market, beginning in the GTA in Ontario, where we see evidence of rapid and sustainable growth in urban development.” Stated Christopher Berlet, President & CEO of Stakeholder Gold Corp.
“Stakeholder has twin channels for shareholder growth. The first is an expanding revenue stream from high margin quarry operations producing exotic stone for the building business. The quarries provide an opportunity for robust cash flow growth, while helping to restrict treasury share issuance. The second channel derives from the potential for substantial gold and copper discovery on the company’s 100% owned Ballarat Gold Project located in the heart of the White Gold District of the Yukon Territory, Canada.”
Figure 5 – Quartzite arrives at warehouse in Etobicoke, GTA, Ontario
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For further information please contact:
Stakeholder Gold Corporation
416 525 – 6869
[email protected]
Forward-Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute “forward-looking statements” and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation’s strategy, plans or future financial or operating performance.