Zinco do Brasil, Inc. Hires Former Vale-Docegeo Geologist Fernando Crocco
NEW YORK, March 25, 2013 /PRNewswire/ -- Zinco do Brasil Inc. (OTCQB: ZNBR) (the "Company") is pleased to announce that it has retained the services of geologist Fernando Crocco. Mr. Crocco has more than 20 years of experience as a geologist with a strong focus on Brazilian mineral deposits, and was a member of the Vale-Docegeo team that discovered, explored and evaluated Zinco do Brasil's Salobro deposit for Vale.
Zinco Chairman and CEO Ryan E. Hart commented: "There is no better geologist the Company could have hired than the person who was material in discovering, exploring and evaluating the Salobro project for Vale in the first place." Mr. Hart continued: "Fernando is a very experienced Brazilian geologist, who not only knows Zinco's Salobro project second to none, but who also has vast experience covering the entire spectrum from greenfield to project feasibility stage, including project development, cost control and management, contract and licensing management and field logistics among others."
About Fernando Antonio Crocco Rodrigues
With degrees in Geology from the Minas Gerais Federal University (1985), a master degree in Geology from the University of Brasilia (Structural Geology; 1991), and a post graduation degree in Economic Engineering, Mr. Crocco is a well experienced geologist who has conducted extensive work in Brazil, and who provided consultant services in the US, Chile, Australia, Uruguay, Guinea, Peru and India. Mr. Crocco is also the author of twelve scientific papers about Brazilian geology and mineral deposits in Brazil.
From 1993 to 2007 Mr. Crocco worked for Vale-Docegeo where he acquired broad knowledge and deep understanding of the Brazilian geology and its mineral deposits, managing the projects from greenfield to feasibility stage, including project development, cost control and management, contract and licensing management and field logistics. Mr. Crocco was not only part of the team that discovered, explored and evaluated the Salobro deposit, but also participated in Vale's titanium project at Tapira as well as two of Vale's iron ore projects in Brazil.
After his tenure at Vale, Mr. Crocco held the position of director at Insitu Consultoria Ltda. and as an associated consultant at JMendo Consultoria Ltda., where he advises numerous companies in the fields of mineral prospection and project evaluation & development for mineral deposits containing zinc, iron, copper, titanium and limestone.
About Zinco do Brasil, Inc.
Zinco do Brasil, Inc. ("Zinco") is a publicly listed company (OTCQB: ZNBR). The Company acquired 99.9% of Zinco do Brasil Mineracao Ltda., which owns 30 mineral rights for a total of 44,665 hectares in the Brazilian state of Minas Gerais. The mineral rights are split between two projects: "Salobro", which consists of 2 mining rights for an area of 1,685 hectares, and "Gorutuba" with 28 mining rights for an area of 42,980 hectares. The Company expects the Salobro reserves to increase by 30 – 50% during the exploration drillings scheduled for Q3 and Q4 of 2013 to prove up reserves to 43-101 standard. The Salobro project is expected to go into production in Q3 of 2016 and to produce in excess of 30,000 metric tons of Zinc and 5,000 metric tons of Lead per year during the mine-life of 10 years (13 - 15 years after reserve increase of 30 - 50%), with an IRR of 24 - 71% and a payback of 1.4 to 3.5 years from commencement of operation.
The Gorutuba project consists of 28 mining rights containing an area of 42,980 hectares in total. Geophysical interpretation of the area was developed based on data gained from airborne geophysical survey conducted by the State of Minas Gerais. The study revealed that the geophysical characteristics of the Salobro deposit are highly correlated with seven targets within the Gorutuba project area, showing similar anomalies like Salobro. The extent of the seven selected targets is 17 km (compared to 2.35km of Salobro) and a drill program is scheduled to start during 2013 to confirm each deposit. Initial geochemical studies indicated other anomalies of Copper and Gold within the Gorutuba projects/targets.
Certain statements in this news release are forward-looking statements. Words such as "expects", "intends", "plans", "proposes", "may", "could", "should", "anticipates", "estimates", "likely", "possible", "potential", "believes" and words of similar import may identify forward-looking statements. Such statements are based on management's and the Company's independent mining consultant's current expectations, estimates and projections about the companies' businesses, are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors beyond the control of either of the companies, including, but not limited to, the successful completion of the merger; the combined company's ability to raise the required additional capital to develop its mining assets and to identify other acquisition and/or joint venture opportunities in the mining sector, and to establish the technical and managerial infrastructure necessary to take advantage of, and successfully participate in, such opportunities; future economic conditions; demand for manganese and other minerals the company may seek to extract; political stability; and changes in governmental regulations, and financial capabilities of the Company. Additional information on risks and other factors that may affect the business and financial results of Zinco do Brasil and the combined company can be found in filings of Zinco do Brasil with the U.S. Securities and Exchange Commission. The Company encourages any current or potential shareholder to read all the public filings before making a decision to invest in the shares of any public company.
Zinco do Brasil Inc.
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SOURCE Zinco do Brasil Inc.