Denarius Metals Announces Binding Letter of Intent with Quimbaya Gold for a 50/50 Joint Venture to Exploit the Tahami Project in the Segovia Gold District of Colombia
Denarius Metals has signed a binding Letter of Intent with Quimbaya Gold to form a 50/50 joint venture focused on formalizing small-scale mining operations at the Tahami Project in Colombia's Segovia Gold District. The project is strategically located adjacent to Aris Mining's high-grade Segovia Operations. The partnership will be executed through Zancudo Metals Corp., Denarius's wholly-owned subsidiary, targeting development in Tahami South and North areas across four concessions owned by Quimbaya.
The joint venture aims to formalize artisanal mining operations while supporting local communities. Denarius Metals will provide technical and financial support for miners' legalization, assist with mining and environmental licensing, and lead production commercialization. This initiative aligns with Quimbaya's ongoing exploration efforts, including a planned 4,000-meter drilling campaign at Tahami South.
Denarius Metals ha firmato una Lettera di Intenti vincolante con Quimbaya Gold per costituire una joint venture al 50/50 volta a formalizzare le operazioni di estrazione su piccola scala nel Progetto Tahami, situato nel Distretto Aurifero di Segovia in Colombia. Il progetto si trova in posizione strategica, adiacente alle operazioni ad alto tenore di Aris Mining a Segovia. La partnership sarà realizzata tramite Zancudo Metals Corp., una controllata al 100% di Denarius, con l'obiettivo di sviluppare le aree Tahami Sud e Nord su quattro concessioni di proprietà di Quimbaya.
La joint venture mira a formalizzare le attività minerarie artigianali supportando le comunità locali. Denarius Metals fornirà supporto tecnico e finanziario per la legalizzazione dei minatori, assisterà nelle licenze minerarie e ambientali, e guiderà la commercializzazione della produzione. Questa iniziativa è in linea con gli sforzi di esplorazione di Quimbaya, che includono una campagna di perforazione di 4.000 metri prevista a Tahami Sud.
Denarius Metals ha firmado una Carta de Intención vinculante con Quimbaya Gold para formar una empresa conjunta 50/50 centrada en formalizar las operaciones de minería a pequeña escala en el Proyecto Tahami, ubicado en el Distrito Aurífero de Segovia en Colombia. El proyecto está estratégicamente situado junto a las operaciones de alta ley de Aris Mining en Segovia. La alianza se llevará a cabo a través de Zancudo Metals Corp., subsidiaria de propiedad total de Denarius, enfocándose en el desarrollo de las áreas Tahami Sur y Norte en cuatro concesiones propiedad de Quimbaya.
La empresa conjunta busca formalizar las operaciones mineras artesanales mientras apoya a las comunidades locales. Denarius Metals proporcionará apoyo técnico y financiero para la legalización de los mineros, asistirá con las licencias mineras y ambientales, y liderará la comercialización de la producción. Esta iniciativa está alineada con los esfuerzos de exploración en curso de Quimbaya, que incluyen una campaña de perforación planificada de 4,000 metros en Tahami Sur.
Denarius Metals는 콜롬비아 세고비아 금광 지구의 Tahami 프로젝트에서 소규모 광산 운영을 공식화하기 위해 Quimbaya Gold와 50/50 합작 투자를 체결하는 구속력 있는 의향서를 서명했습니다. 이 프로젝트는 Aris Mining의 고품위 세고비아 운영 인접지에 전략적으로 위치해 있습니다. 이 파트너십은 Denarius의 전액 출자 자회사인 Zancudo Metals Corp.를 통해 실행되며, Quimbaya가 소유한 네 개의 광산권에 걸쳐 Tahami 남부 및 북부 지역 개발을 목표로 합니다.
합작 투자는 소규모 광산 작업의 공식화를 목표로 하며 지역 사회를 지원합니다. Denarius Metals는 광부들의 합법화에 대한 기술적 및 재정적 지원을 제공하고, 광업 및 환경 허가를 지원하며, 생산물 상업화를 주도할 예정입니다. 이 이니셔티브는 Tahami 남부 지역에서 계획된 4,000미터 시추 캠페인을 포함한 Quimbaya의 지속적인 탐사 노력과 일치합니다.
Denarius Metals a signé une lettre d'intention contraignante avec Quimbaya Gold pour former une coentreprise à parts égales (50/50) visant à formaliser les opérations minières à petite échelle sur le projet Tahami, situé dans le district aurifère de Segovia en Colombie. Le projet est stratégiquement situé à côté des opérations à haute teneur en or d'Aris Mining à Segovia. Le partenariat sera réalisé via Zancudo Metals Corp., une filiale détenue à 100 % par Denarius, ciblant le développement des zones Tahami Sud et Nord sur quatre concessions appartenant à Quimbaya.
La coentreprise vise à formaliser les opérations minières artisanales tout en soutenant les communautés locales. Denarius Metals fournira un soutien technique et financier pour la légalisation des mineurs, aidera à l'obtention des permis miniers et environnementaux, et dirigera la commercialisation de la production. Cette initiative s'inscrit dans les efforts d'exploration continus de Quimbaya, incluant une campagne de forage prévue de 4 000 mètres à Tahami Sud.
Denarius Metals hat eine verbindliche Absichtserklärung mit Quimbaya Gold unterzeichnet, um ein 50/50 Joint Venture zu gründen, das sich auf die Formalisierung von Kleinbergbauaktivitäten im Tahami-Projekt im Goldbezirk Segovia in Kolumbien konzentriert. Das Projekt liegt strategisch günstig direkt neben den hochgradigen Segovia-Betrieben von Aris Mining. Die Partnerschaft wird über Zancudo Metals Corp., eine hundertprozentige Tochtergesellschaft von Denarius, umgesetzt und zielt auf die Entwicklung der Gebiete Tahami Süd und Nord auf vier Konzessionen, die Quimbaya gehören, ab.
Das Joint Venture verfolgt das Ziel, den handwerklichen Bergbau zu formalisieren und gleichzeitig die lokalen Gemeinden zu unterstützen. Denarius Metals wird technische und finanzielle Unterstützung bei der Legalisierung der Bergleute bieten, bei Bergbau- und Umweltgenehmigungen helfen und die Vermarktung der Produktion leiten. Diese Initiative steht im Einklang mit den laufenden Explorationsbemühungen von Quimbaya, einschließlich einer geplanten Bohrkampagne von 4.000 Metern in Tahami Süd.
- Strategic location adjacent to Aris Mining's high-grade Segovia Operations, one of the highest-grade underground gold producers globally
- Equal cost and profit sharing structure (50/50) between partners
- Leverages Denarius Metals' management experience in successful mining operations in the region
- Potential for near-term production and cash flow through formalized artisanal mining
- Complements Quimbaya's existing 4,000-meter drilling campaign at Tahami South
- Subject to regulatory and corporate approvals
- Success depends on effective formalization of existing artisanal mining operations
- Requires additional technical and financial investment for mining legalization
Toronto, Ontario--(Newsfile Corp. - May 7, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has signed a binding Letter of Intent with Quimbaya Gold Inc. ("Quimbaya") (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) establishing a 50/50 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya's Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia, adjacent to the high-grade Segovia Operations owned by Aris Mining Corporation ("Aris Mining").
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We see this joint venture with Quimbaya as an opportunity to leverage our team's considerable experience in exploration, mining and community relations in Colombia, particularly in the Segovia Gold District where we founded Gran Colombia Gold (now Aris Mining) and built the Segovia Operations into the largest underground gold producer in Colombia and one of the highest-grade underground gold producers globally. We are excited about the opportunity to develop near-term production and cash flow through the implementation of a formalized artisanal mining operation in partnership with Quimbaya and the local community."
This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities in the Tahami Project. Importantly, this initiative complements Quimbaya's ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement for the joint venture as soon as possible, subject to customary regulatory and corporate approvals. Key aspects of the joint venture include:
- A 50/50 partnership between Zancudo Metals Corp., a wholly owned subsidiary of Denarius Metals and
100% owner of its Zancudo Project, and Quimbaya, where the costs and expenses will be split equally between both parties. - Joint development targeted on the Tahami South and Tahami North areas within the Tahami Project. Exploitation will focus on concessions SHO-08001, SE9-13331, LJQ-08001 and HHII-21 owned by Quimbaya.
- The partnership aims to formalize current artisanal mining operations, leveraging the extensive experience of Denarius Metals' management who have implemented successful models in the region. Denarius Metals will provide technical and financial support so that the artisanal miners can legalize their production within the mining legalization program.
- Denarius Metals will also leverage its previous experience to support the processes related to obtaining mining and environmental licenses for the Quimbaya concessions.
- Denarius Metals will lead the commercialization of production on behalf of the joint venture. Profits from all sales will be split equally between both parties.
About the Tahami Project
Located directly adjacent to and on trend with Aris Mining's flagship Segovia Operations, the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the Segovia-Remedios Mining District, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction and a strong tradition of gold production. Over 150 artisanal miners are actively producing gold on Quimbaya's assets daily and over 25 historical mines have been identified within its assets.
Refer to Attachments 1, 2 and 3 for maps showing the location of the Tahami Project.
About Quimbaya
Quimbaya is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia's prolific mining districts. Quimbaya is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".
In Colombia, Denarius Metals recently commenced mining operations at its
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including the finalization of definitive agreement for the joint venture with Quimbaya and receipt of regulatory and corporate approvals. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
Attachment 1: General Location Map of the Tahami Project in the Segovia Gold District of Antioquia, Colombia
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Attachment 2: Location Map of the Tahami South Project, Adjacent to Aris Mining's Segovia Operations
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Attachment 3: Location Map of the Tahami North Project
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251067
FAQ
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