Aclara Resources Inc. Secures 100% of Mineral Rights on the Carina Module

Aclara Resources Inc. (TSX:ARA) announced that it has completed the second tranche of the participation agreement, obtaining 100% of the mining rights of 8,490 hectares of the Carina Module. This development follows the first tranche completed on November 6, 2023, where the company acquired an initial 51% stake. CEO Ramon Barua highlighted the speed with which the company drilled the property and achieved favorable results, resulting in a significant mineral resource estimate and robust preliminary economic assessment in just five months.

The agreement provides that, to acquire the remaining 49%, Aclara had to drill an additional 2,000 meters, invest US$2 million in exploration expenses and pay US$300,000 to the owner of the mining rights, in addition to investments and previous payments. Aclara also has the option to purchase 100% of the royalties for US$6.5 million in the first year of commercial production.

In parallel, Aclara is moving forward on several fronts, including a reverse circulation drilling campaign to increase mineral resources at depth, initiating environmental and social baseline studies, and evaluating several proposals from world-class engineering firms to prepare a pre-feasibility study.