The new concessions include a 200 hectare concession adjacent to the western part of the silver Santas Gloria property (the “West Extension“), a 200 hectare east adjacent to the eastern portion of the Santas Gloria silver property (the”East Extension“) and a 1,772 hectare claim block north of the Santas Gloria Silver property (the”Northern concessions“).
The western and eastern extensions cover some veins of the Tembladera and San Jorge vein systems and the Rosaria veins which extend beyond the original claims of the Santas Gloria silver property. Given that the Tembladera and San Jorge venous systems have already produced high-grade silver surface and underground assays and will be the focus of the Company’s next drilling program, the Company felt it was essential to s ” ensure that it secures the neighboring concessions which house extensions of known veins. Mantaro plans to begin additional mapping and sampling of the vein extensions in the main Santas Gloria concessions, and the recently acquired extensions, in the coming weeks.
The northern claims offer the Company significant exploration potential and are located near the main claims of the Santas Gloria silver property. The northern concessions cover a large clay alteration cell visible on satellite imagery. Initial field examination indicates that intermediate sulphidation-style quartz veins – similar in style to those at Santas Gloria – outcrop in the alteration zone.
Intermediate and hybrid low sulphidation epithermal systems within the Peruvian central metallogenic belt are characterized by steeply dipping quartz-dominant veins that can be economically mineralized for hundreds of vertical meters. The tops of these systems are defined by flow zones which appear as vast zones of clay alteration. Quartz veins are generally poorly developed, and the geochemistry of silver, base metals, and scouts is poor to anomalous. As such, the tops of these systems were not targeted by artisanal miners.
From an exploration standpoint, recognizing the highest expression of an intermediate sulfurization system is highly significant. Although the geochemistry is low grade, it indicates that all mineralization is preserved under the clay weathering cap with the potential to uncover high grade shoots. Mantaro is planning an aggressive field geochemistry and mapping program to define areas of anomalous geochemistry, vein distribution and structural controls for mineralization.
The Company has entered into a purchase agreement with a third party supplier whereby the Company has agreed to acquire a 100% interest in four concessions adjacent to and / or near the Santas Gloria Silver property. In return for the new concessions, the Company agreed to pay US $ 50,000 and issue a total of 500,000 common shares of the Company. The transaction is subject to acceptance by the TSX Venture Exchange.
Dr. Christophe wilson, Ph. D., FAusIMM (CP), FSEG, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this press release.
About Mantaro Silver Corp.
Mantaro Silver Corp. is a British Columbia company that owns a 100% stake in its flagship property Santas Gloria Silver as well as a 100% stake in San Jose, La Purisima, Cerro Luque and the Huaranay properties.
The information contained in this press release contains forward-looking statements based on assumptions as of the date of this press release. These statements reflect the current estimates, beliefs, intentions and expectations of management. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of important factors, many of which are beyond the control of the Company. These factors include, among others: risks and uncertainties associated with the Company’s limited operating history and the need to comply with environmental and government regulations. Therefore, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Unless required by applicable securities legislation, the Company does not undertake to publicly update or revise forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mantaro Silver Corp.