- The court ruling annuls previous licenses and authorizes G Mining Ventures (OTCQX:GMINF) to start a new environmental licensing process for the Gurupi Project in Brazil.
- The Gurupi Project contains 1.83 million ounces of indicated and 0.77 million ounces of inferred gold resources.
- G Mining Ventures allocates an initial exploration budget of $2-4 million for 2025 with plans for expansion pending permits.
G Mining Ventures Corp. (OTCQX:GMINF) has announced a significant development for its Gurupi Gold Project in Brazil after a court ruling from Brazil's 8th Federal Environmental and Agrarian Court. The decision annuls the previous 2011 licenses and clears the path for a new environmental licensing process, resolving a decade-long permitting challenge.
The Gurupi Project, which holds 1.83 million ounces of indicated mineral resources and 0.77 million ounces of inferred resources, is set for further exploration and development. G Mining Ventures has earmarked an initial exploration budget ranging between USD $2-4 million for the year 2025. This budget will primarily focus on regional soil sampling and other exploration activities.
The corporation plans to increase this budget in the second half of 2025 upon receiving the necessary exploration permits. With a substantial 1,900 km² land package and favorable court ruling, Gurupi is poised for long-term development, with exploration opportunities both in greenfield and brownfield contexts.
In accordance with the court's decision, G Mining Ventures must now submit a comprehensive Environmental Impact Assessment and Report (EIA/RIMA) and obtain necessary consents from the National Institute for Colonization and Agrarian Reform (INCRA) for areas overlapping agrarian settlements. This provides a structured pathway for the corporation to advance its mining operations at Gurupi.
The CEO of G Mining Ventures, Louis-Pierre Gignac, expressed optimism about the future, noting that the ruling provides the necessary legal certainty to unlock the full potential of this district-scale asset through focused exploration and stakeholder engagement.
