{"id":17531,"date":"2025-05-07T13:54:19","date_gmt":"2025-05-07T13:54:19","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/07\/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\/"},"modified":"2025-05-07T13:54:19","modified_gmt":"2025-05-07T13:54:19","slug":"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","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/07\/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\/","title":{"rendered":"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"},"content":{"rendered":"<\/p>\n
\n

Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) (\u2018Denarius Metals\u2019 or the \u2018Company\u2019) announced today that it has signed a binding Letter of Intent with Quimbaya Gold Inc. (\u2018Quimbaya\u2019) (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) establishing a 5050 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya\u2019s 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 (\u2018Aris Mining\u2019).<\/p>\n

Serafino Iacono, Executive Chairman of Denarius Metals, commented, \u2018We see this joint venture with Quimbaya as an opportunity to leverage our team\u2019s 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.\u2019<\/p>\n

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\u2019s 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:<\/p>\n

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.
\nJoint 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.
\nThe partnership aims to formalize current artisanal mining operations, leveraging the extensive experience of Denarius Metals\u2019 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.
\nDenarius Metals will also leverage its previous experience to support the processes related to obtaining mining and environmental licenses for the Quimbaya concessions.
\nDenarius Metals will lead the commercialization of production on behalf of the joint venture. Profits from all sales will be split equally between both parties.<\/p>\n

About the Tahami Project<\/p>\n

Located directly adjacent to and on trend with Aris Mining\u2019s 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\u2019s assets daily and over 25 historical mines have been identified within its assets.<\/p>\n

Refer to Attachments 1, 2 and 3 for maps showing the location of the Tahami Project.<\/p>\n

About Quimbaya<\/p>\n

Quimbaya is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia\u2019s 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.<\/p>\n

About Denarius Metals<\/p>\n

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 \u2018DMET\u2019. The Company also trades on the OTCQX Market in the United States under the symbol \u2018DNRSF\u2019.<\/p>\n

In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin.<\/p>\n

In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.<\/p>\n

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.<\/p>\n

Cautionary Statement on Forward-Looking Information<\/p>\n

This news release contains \u2018forward-looking information\u2019, 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 \u2018plans\u2019, \u2018expects\u2019, \u2018is expected\u2019, \u2018budget\u2019, \u2018scheduled\u2019, \u2018estimates\u2019, \u2018forecasts\u2019, \u2018intends\u2019, \u2018anticipates\u2019, or \u2018believes\u2019 or variations (including negative variations) of such words and phrases, or state that certain actions, events or results \u2018may\u2019, \u2018could\u2019, \u2018would\u2019, \u2018might\u2019 or \u2018will\u2019 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 \u2018Risk Factors\u2019 in the Company\u2019s 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\u2019s 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.<\/p>\n

\n

For Further Information, Contact:<\/p>\n

Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com<\/p>\n<\/div>\n

Attachment 1: General Location Map of the Tahami Project in the Segovia Gold District of Antioquia, Colombia<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/9396\/251067_3f22dfd1e4ab187d_001full.jpg<\/p>\n<\/p>\n

Attachment 2: Location Map of the Tahami South Project, Adjacent to Aris Mining\u2019s Segovia Operations<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/9396\/251067_3f22dfd1e4ab187d_002full.jpg<\/p>\n<\/p>\n

Attachment 3: Location Map of the Tahami North Project<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/9396\/251067_3f22dfd1e4ab187d_003full.jpg<\/p>\n<\/p>\n

To view the source version of this press release, please visit https:\/\/www.newsfilecorp.com\/release\/251067<\/p>\n<\/p>\n<\/div>\n

News Provided by Newsfile via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) (\u2018Denarius Metals\u2019 or the \u2018Company\u2019) announced today that it has signed a binding Letter of Intent with Quimbaya Gold Inc. (\u2018Quimbaya\u2019) (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) establishing a 5050 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya\u2019s Tahami Project which is located […]<\/p>\n","protected":false},"author":0,"featured_media":17532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17531"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17532"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}