お知らせ • Jul 31
Bahia Metals Advances Preparation of Initial Mineral Resource Estimate for Mangueiros Main Sulphide Nickel Copper Cobalt Pgm Project
Bahia Metals Corp. had advanced preparation of an initial mineral resource estimate for Mangueiros Main, a sulphide nickel-copper-cobalt-platinum group metals project in Bahia State, Brazil. The mineral resource estimate is being prepared by P&E Mining Consultants Inc., an independent geological and mine engineering firm, and will be contained in a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. P&E is completing a review of the historical drilling, geological interpretation and modelling, assay database and other supporting technical information in preparing the initial mineral resource estimate for Mangueiros Main. The company benefits from an extensive technical database and historical exploration program that has confirmed nickel-copper-cobalt sulphide mineralization associated with an ultramafic intrusive system at Mangueiros Main, providing a strong foundation for ongoing resource evaluation and project advancement. Once completed, the mineral resource estimate is expected to provide a basis for the company to evaluate potential future technical and economic studies. The company’s current independent technical report, prepared by SRK Consulting (U.S.) Inc., identifies an exploration target at Mangueiros Main ranging from 75 million to 200 million tonnes grading between 0.20% and 0.25% nickel in sulphide. The SRK exploration target provides an initial technical benchmark and starting point for P&E’s independent review and mineral resource estimate work. The potential quantity and grade of the exploration target are conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration and technical work will result in the exploration target being delineated as a mineral resource. The exploration target is not a CIM-defined mineral resource or mineral reserve and should not be treated as such. P&E will independently review the available data, geological interpretation, estimation parameters and other relevant technical information, and the size, grade and classification of any mineral resource ultimately estimated may differ materially from the SRK exploration target. There are currently no mineral resources or mineral reserves at Mangueiros Main, and there can be no assurance that the work underway will result in establishing an initial mineral resource. As described in the SRK technical report, mineralization at Mangueiros Main extends approximately 1,800 metres northwest to southeast, 600 metres southwest to northeast and approximately 250 metres in thickness, and the target remains open in several directions. The sulphide nature of the mineralization is particularly important, as it is typically associated with conventional processing routes and lower carbon intensity relative to laterite deposits, reinforcing the project’s alignment with Environmental, Social and Governance and downstream supply chain requirements. The company’s objective is to build a sulphide nickel copper cobalt + PGM mine and advance its asset portfolio to establish a new critical minerals district in Bahia State, Brazil. The near-term strategy to achieve this objective is to complete the initial NI 43-101 mineral resource estimate for Mangueiros Main including evaluation of potential copper and cobalt mineralization, following completion of the mineral resource estimate, evaluate the appropriate scope and timing of further technical studies, including a potential preliminary economic assessment and feasibility study, and review the historical gravity data and other work completed across the company’s broader portfolio, specifically Mangueiros West, located approximately 1 Km from Mangueiros Main to assess district scale opportunity. During a recent site visit and meetings with stakeholders including strategic shareholders in Brazil, management conducted field reviews, reviewed historical exploration information and assessed regional infrastructure relevant to assessing Mangueiros Main as a development opportunity. The company also met with a renewable energy provider to better understand potential for a green power-supply to operate a mine. Any future mining or processing operation, including its power requirements and environmental attributes, would be subject to further technical studies, permitting and other approvals. Unless otherwise indicated, the scientific and technical information in this news release is based on the independent technical report entitled “NI 43-101 Technical Report – Project Status Report Mangueiros Ni-Cu-Co Project, Bahia, Brazil,” dated January 6, 2026, with an effective date of November 15, 2024, prepared by Douglas Reid, P.Eng., of SRK Consulting.