Seahawk in Brazil

Seahawk Minerals (SKM-V) has signed agreements with two Brazilian companies to acquire two gold properties in the South American country.

The first property consists of three concessions — Lavras, Palmas and Vauthier — in the southern state of Rio Grande do Sul.

To acquire the 42,000-ha property, Seahawk must pay US$4 million to Companhia Brasileira do Cobre at any time in the next three years.

Previous work uncovered disseminated gold mineralization in an altered granite pluton hosted in an Archean metavolcanic sedimentary sequence.

The company also negotiated an exclusive right to test two additional gold occurrences on an unnamed property in Par state. Here, Seahawk can acquire the mineral rights to 140,000 ha by paying US$3 million to the property owner over a 3-year period.

Seahawk is establishing a geochemical sampling grid over an area measuring 7.5 by 1 km.

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