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Bahia Metals Reports Initial MRE For Mangueiros Main in Brazil

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Bahia Metals (BMT.CN) said Monday after-trade an initial mineral resource estimate (MRE) for Mangueiros Main, its flagship asset in Bahia State, Brazil, defined 313 million tonnes of inferred mineral resources at 0.33% nickel total equivalent.

The company aims to complete an initial NI 43-101 MRE technical report for Mangueiros Main, including evaluation of potential copper and cobalt mineralization, in the near term, a statement said.

"The delivery of the independent Mineral Resource Estimate, less than a year after our IPO, is a defining milestone for Bahia Metals and our flagship asset, Mangueiros Main. With the MRE complete, the company will continue to assess the development potential of Mangueiros Main," Chief Executive Stephen Goodman said.

Bahia Metals shares closed up C$0.03, to C$0.38, on he Canadian Securities Exchange.

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