South Atlantic Gold Inc. reports today that it has entered into an amendment effective January 4, 2023 to the previously announced property option agreement dated November 4, 2022 with Quetzal Copper Limited to divest the Company's 100% interest in the Big Kidd Project. Under the terms of the Amendment the Company has agreed to extend the terms of Quetzal completing a Qualifying Financing on or before January 4, 2023 to [...]
Kelowna, November 10, 2022 - South Atlantic Gold Inc. is pleased to announce that the Brazilian environmental agency for the state of Ceará has commenced the evaluation process to license the Company's operations. The Company has also completed metallurgical testwork on the main ore zones of the Pedra Branca project as required by the mining license process. Highlights The environmental agency review will provide key [...]
Kelowna, November 9, 2022 - South Atlantic Gold Inc. is pleased to announce that it has entered into an option agreement to divest its 100% interest of the Big Kidd Project, British Columbia, to Quetzal Copper Limited , a British Columbia, corporation for a total consideration of $4.8 million and a 2% net smelter royalty upon completion of the required milestones. Option Terms A cash payment totaling $150,000 to South [...]
Kelowna, October 31, 2022 - South Atlantic Gold Inc. announces that the board of directors of the Company effective October 21, 2022 have adopted a restricted share units and deferred share units long term incentive plan . The purposes of the LTIP will be to: provide the Company with a mechanism to attract, retain and motivate highly qualified directors, officers, employees and consultants; align the interests of eligible [...]
Kelowna, August 31, 2022 - South Atlantic Gold Inc. is pleased to announce further exploration results from its previously announced Phase II program . Results include recently received assays from reconnaissance RC drilling which, when combined with geophysical, geochemical sampling of soils and trenches and geological mapping data has, for the first time, informed a comprehensive target generation exercise across the [...]
South Atlantic Gold Inc. is pleased to announce that it has entered into a Memorandum of Understanding Agreement with the government of Ceará State, Brazil to support South Atlantic in the advancement and development of the Pedra Branca Project. Douglas Meirelles, CEO stated, "This signed MOU with the state government of Ceará represents a pledge to assist, promote and aid the financing for the development of Ceará's [...]
South Atlantic Gold Inc. announces the continuance of consolidation and interpretation of the geological and geophysical data at the Pedra Branca project located in Ceará State, northeastern Brazil. A new updated map illustrates an anomaly resulting from the geophysical magnetic survey alongside with the 33 top intercepts to date from Phases I and II . Douglas Meirelles, CEO stated, "The potential size and scale of the [...]
South Atlantic Gold Inc. announces another milestone for the Phase II exploration program which included a high-resolution Unmanned Airborne Vehicle magnetic survey at its 100 percent owned Pedra Branca project, located in Ceará state, northeastern Brazil. The initial results of the UAV survey define a distinct signature over areas of known mineralization that, when combined with other datasets demonstrates the potential [...]
South Atlantic Gold Inc. announces the completion of the trenching program of the Phase II exploration program at its Pedra Branca project, located in Ceará state, northeastern Brazil. The trenching program assayed over 200 mineralized intersections, including the highest grading intersection at surface identified so far with 3 meters grading 38 grams per tonne gold . The Relatório Final de Pesquisa report was submitted [...]
South Atlantic Gold Inc. announces that it has engaged Stratus Aeronautics Inc. , with headquarters in British Columbia, Canada and offices in Brazil, to perform a high-resolution drone magnetic survey over the Pedra Branca Project located in Ceará State, Brazil. Geophysical Program The drone magnetic survey will be conducted over the Pedra Branca gold resource reported in the NI 43-101 technical report and extending 1-2 [...]
South Atlantic Gold Inc. announces that the Phase II Exploration program is proceeding well and early results demonstrated a high-grade sample of 96.04 grams per tonne gold over 1 meter at the Barra Nova target. This assay result , among others highlighted below, are confirming mineralization along 40 kilometers of the regional strike length, and to the south of the initial Pedra Branca resource. Douglas Meirelles, CEO [...]
South Atlantic Gold Inc. is pleased to announce the commencement of a Phase II exploration program over its flagship 100% owned exploration project located in Ceará State, northeast Brazil. The Phase II program has been developed utilizing field observations from recent site visits by management and a comprehensive review of Phase I exploration results by the newly formed Technical Committee. Technical Committee [...]
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