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Location: 78 SE from Lisbon, Portugal
3205-200 Bay StreetTorontoOntario, CanadaM5J 2J1
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Redcorp holds an 85% stake in the Lagoa Salgada Project and also acts as the operating entity. The remaining 15% stake is held by the Mining Development Company (Empresa de Desenvolvimento Mineiro, SA).
Redcorp is co-owned by Ascendant Resources Inc. (Ascendant) and Mineral & Financial Investments Limited (M&FI). Ascendant holds an 80% interest in the Lagoa Salgada Project through its position in Redcorp Empreendimentos Mineiros, LDA ("Redcorp").
On May 16, 2025, Cerrado Gold Inc. and Ascendant Resources Inc. announced the successful completion of a plan of arrangement under the Business Corporations Act, pursuant to which Cerrado acquired all of the issued and outstanding common shares of Ascendant that it did not already own, resulting in Ascendant becoming a wholly owned subsidiary of Cerrado.
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From a genetic point of view the Lagoa Salgada deposit is considered a polymetallic Volcanogenic Massive Sulfide (VMS). MineralizationThe mineralization types are different for each sector of the Lagoa Salgada deposit. They all show different typologies and modes of occurrence although all the mineralization domains are polymetallic.North sector The north sector of this deposit shows four distinct mineralization domains, namely the gossan, the transition massive sulfides, the primary massive sulfides, and the stringer zone. The gossan (Gos) mineralization results from the supergene alteration of the primary massive sulfides after intense oxidation and weathering when the primary mineralization was exposed to the paleosurface. The net effect of the supergene effect is the enrichment of less mobile elements such as Au Ag, Sn and Pb. The transitional massive sulfides (tMS) zone is also the result of a supergene process. Some of the metals leached in the relatively shallower oxidizing levels and precipitated immediately below more reductive conditions (below the paleo water table). This domain is particularly rich in Cu, Pb and Ag. The primary massive sulphides (pMS) result from the extraction of metals from deeper volcanic rocks that, by dissolution in the aqueous solutions through the interaction between water and rock. These were transported and subsequently cooled, causing the precipitation of metals such as Cu, Pb, Zn and Sn in the case of the Lagoa Salgada and creating massive sulphide lenses due to the circulation of hydrothermal fluids. The stringer (Str) domain is characterized by stockwork polymetallic mineralization occurring in intermediate-basic volcanic rocks at the bottom of the primary massive sulphides. From a metallogenetic point of view, these were the corridors that fed the massive sulphide lens. South sector The mineralization style at the south sector of the Lagoa Salgada deposit is different from the north showing two distinct domains, the semi-massive sulphides (sMS) zone, and the fissure remobilization (FR) mineralization zone. The first sMS mineralization which is only present in the esV lithologies is characterized by semi massive pyritic intercalated with volcanic rocks. It is believed that the esV lithology is the lateral equivalent of the north sectors massive sulphides, representing a distal volcanogenic massive sulphide related facies. Both units have been tectonically packed into sub-vertical lenses following the latest stage of deformation. The second mineralization style of the southern sector is fissural remobilization (FR) mineralization. This polymetallic occurrence is hosted in the base southwestern iV rocks with the mineralization corridors following a main trend with an azimuth that varies between 140° to 160° and dipping between 70° to 85° NE. Three main corridors have been defined in this domain, all dipping to the NE and are open along strike to the north.An important fact to retain about the FR domain is that the hosting rocks between the three corridors still carry some lower grade but potentially economic mineralization. The 3 corridors represent some higher-grade zones within a broader envelope of mineralized iV rocks. The FR domain is polymetallic with Cu, Zn, Pb, and Ag; however, Cu (chalcopyrite) and Zn (in sphalerite) are predominant. From a genetic point of view, the occurrence of this mineralization occurred through a post-orogenic percolation of the mineralized fluids induced by an epigenetic hydrothermal alteration in the iV rocks. This analysis was one of the facts that helped to define the main corridors of mineralization as all the samples of the corridors have a CCPI index above 85.
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