andy8033
2 weeks ago
Things starting to happen. https://www.otcmarkets.com/otcapi/company/dns/news/document/80014/content
Borneo Resource Investments Ltd. Announces Mining Agreement
WEST JORDAN, UT/February 3, 2025/ -- On January 23, 2025, Borneo Resource Investments Ltd.’s (OTC Pink: BRNE) (the “Company”) subsidiary Silica Scientific Corporation (“Silica Scientific”) signed a Mining Agreement with Suku Passi, NV, a Suriname corporation (“Suku”). The Mining Agreement was effective on February 1, 2025. By this Mining Agreement, Silica Scientific received an exclusive license to explore, test, prove-up, mine, wash, grade, upgrade, sell and export silica sand from Suku’s Concession 815-A_15 in Suriname.
Under the terms of the Mining Agreement, Silica Scientific will be acting as a contractor to Suku. Suku has four concessions for gold and other minerals. Silica Scientific has been engaged to remove the silica sand from one 9,845-hectare concession, to expose the underlying saprolite that may be gold bearing. Silica Scientific has the option to expand the Mining Agreement to the other Suku concessions. Silica Scientific will fund the work necessary to prove-up the quality and quantity of the silica sand, and market and sell the products. Silica Scientific will pay Suku a royalty on sold and exported silica sand material of $0.30 per metric ton.
Mr. C. Robert Ripplinger, President of the Company, commented, “I am thrilled and humbled to be able to secure such a high quality silica sand concession, especially for our first acquisition. What an incredible opportunity for us to begin operations and with people we have a great relationship with, in a part of the world we know well. This week we began shipping the auger drilling equipment from the USA for the sampling program, and look forward to sharing the results in the future. We will utilize the results of the sampling program to prepare a NI43-101 on the asset that will indicate the value of the project.”