Ready to Drill High-Grade Targets
VANCOUVER, BC, June 2, 2021 /CNW/ - MANTARO SILVER
CORP. (TSXV: MSLV) (the "Company") is pleased to provide
an update on its high-grade silver Santas Gloria Silver Property,
located 55 km east of Lima,
Peru. The Santas Gloria Silver Property, which is 100% owned,
is comprised of three mineral concessions totaling 1,100
hectares.
Highlights of Santas Gloria Silver Property:
- High-grade Underground Channel Samples of over 10,000 g/t Ag
at the Tembladera Vein and over 4,100 g/t Ag at the San Jorge Vein
in Mantaro's recent exploration program (see Figure 1 for all
silver results of the program).
- High-grade gold of 56 g/t Au at the Kelly Vein in Mantaro's
recent exploration program (see Figure 2 for all gold results of
the program).
- Approximately 16 major veins and vein splays with a
cumulative strike length of over 12 km.
- Planned 7,500 metre drill program for the Tembladera Vein
System, San Jorge Vein System, Kelly, Maribel and Paquita
Veins.
There are over 12 kilometers of intermediate sulphidation veins
and vein splays arranged into a number of key target zones: the
Tembladera Vein System, San Jorge Vein System, Kelly Vein,
Maribel Vein, Paquita Vein and Rosario
Vein. The system has never been drilled tested and
exploitation of silver was limited to two areas of the San Jorge
and Tembladera veins.
Tembladera Vein System
The Tembladera Vein system is located in the central southern
part of the concessions. The system comprises the east-west tending
Tembladera Vein and the northeast-southwest striking Tembladera 1
and 2 veins. Collectively the Tembladera Veins have a cumulative
strike length of at least 4 km. Veins dip steeply (78° to 88°) to
the south and average between 0.7 to 2.0
m in width. Outcropping veins are strongly oxidized, crudely
banded and strongly brecciated, and often weather recessively due
to high base metal sulphide content. Veins are pervasively oxidized
to at least 50 m vertical depth and
display strong hydrothermal brecciation and minor cataclastic
brecciation in underground drives. Secondary manganese oxides are
common in weathered portions of the veins. Sulphide mineralization
is common in the lower workings where it forms clots and crude
bands. Quartz is the dominant gangue mineral, rhodocrosite and
pyrite are common accessories. Economic minerals include argentite,
sphalerite and galena, and native silver.
The Company collected 133 surface channel samples across the
Tembladera veins. Assays returned grades ranging from <5 g/t Ag
to 798 g/t Ag, many assays were above 150 g/t Ag. These assays
results are considered highly significant given the extensively
weathered nature of outcropping veins, which also explains the low
base metal sulphide tenor.
Twenty-one underground channel samples were taken within
accessible drives. The average silver grade for all samples was
1149 g/t Ag over an average sample width of 0.45 m, silver grades ranged from <5 g/t to
> 10,000 g/t Ag. The average base metals for samples was 2.23 %
Pb (<0.5 % Pb to > 20 % Pb) and 1.18 g/t Zn (<0.1%
to 9.1%). Small scale historical production was conducted over a
vertical interval of approximately 160
m. Five drifts were developed along the vein from portals in
the valley side, mineralized material was extracted by stoping
upwards.
The Company plans to carry out 2,500 metres of diamond drilling
at the Tembladera Vein System. Figure 3 sets out the
high-priority drill target at the Tembladera vein.
San Jorge Vein System
The San Jorge vein is located in the southern part of the Santas
Gloria Silver Property and is hosted in Rimac and Huarochiri Group
volcano-clastic rocks. The San Jorge system has a strike length of
approximately 3 km, strikes broadly east-west, and dips steeply
(78° to 85°) to the north. On the surface, the San Jorge vein can
be traced via colonial workings and outcrop for over 3 km. Veins
form resistant outcrops that are between 1 to 2 m wide. Oxidation is pervasive at surface and
extends to depths of between 50 to 100 metres in historical
underground workings, where the vein is between 1 to 2 m wide and weakly brecciated. Black manganese
oxides are common in the weathered portions of the vein. Sulphide
mineralization is common in the lower workings where it forms clots
and crude bands. Quartz is the dominant gangue mineral,
rhodocrosite and pyrite are common accessories. Economic minerals
include argentite, sphalerite and galena, and native silver.
The Company collected 36 surface channel samples across the San
Jorge vein. Assay results returned average grades of 280 g/t Ag,
ranging from < 5 g/t to 2500 g/t Ag. The average vein width was
0.9 m, but the vein swells to
5 m wide in some sections that have
not yet been sampled.
Ninety underground channel samples were taken from level two and
three of the historical San Jorge workings. The average grade
across all samples was 520 g/t Ag, 0.96 % Pb and 0.67 % Zn. Samples
had an average width of 0.43 m and
ranged in grade from < 5 g/t to 4100 g/t Ag, <0.1 % to 9.7 %
Pb and <0.1 % to 4.2 % Zn. Small scale historical production was
conducted over a vertical interval of approximately 110 m. Three drifts were developed along the vein
from portals in the valley side, mined material was extracted by
stoping upwards.
The Company plans to carry out a 2,000 metre diamond drill
program at the San Jorge Vein System. Figure 4 sets out the
high-priority targets at the San Jorge vein.
Kelly Vein
The Kelly Vein crops out approximately 1 km north of the
Tembladera Vein system. The vein is only exposed at surface where
it presents as a steeply dipping quartz-dominant vein which ranges
between 1 m and 4 m wide. The eastern half of the vein strikes
broadly east-west and is hosted within the Rimac Group, to the west
the vein rolls around to a northeast-southwest orientation and is
hosted by the Huarochiri Group.
The Company collected 82 surface channel samples across the
Kelly vein and associated vein splays. Assay results returned
average grades of 2.3 g/t Au over an average 0.80 m, ranging < 0.05 g/t to 56.3 g/t Au.
Silver and base metal values were of low tenor, which together with
the quartz-dominant and sulphide-poor nature of the vein, and the
presence of saccharoidal and cryptocrystalline quartz suggests low
sulphidation affinity.
Maribel Vein
The Maribel vein crops out in the north of the Santas Gloria
Silver Property over a strike length of almost 1 km. It is most
likely hosted within the Rimac Group, but the area is covered by a
thin veneer of Quaternary sediments and the bedrock geology is
poorly understood. The Mirabel
vein was never worked historically and is only exposed at surface
where it is pervasively oxidised. It is generally between 1 to
1.5 m wide and steeply dipping.
Hanging wall alteration extends up to 5 metres from the vein.
The Company collected 47 surface channel samples across the
Maribel vein. Assay results returned average grades of 51 g/t Ag
and 0.25 g/t Au and ranged from < 5 g/t to 585 g/t Ag and
<0.05 g/t to 1.63 g/t Au. Average sample widths were
0.9 m.
Paquita Vein
The Paquita vein crops out in the north of the Santas Gloria
Silver Property over a strike length of almost 1 km. It bifurcates
into two sub-parallel veins in its western half. The Paquita vein
is most likely hosted within the Rimac Group — but the area is
covered by a thin veneer of Quaternary sediments and bedrock
geology is poorly understood. At surface the Paquita vein is
pervasively oxidised, generally between 1 to 3 m wide (locally up to 5
m wide) and steeply dipping. The vein is quartz-dominant,
crudely banded and strongly brecciated. Hanging wall alteration
extends up to 2 to 5 m from the vein
as quartz stringers and veinlets, and areas of clay alteration.
Several historical artisanal workings extracted material to a
vertical depth of approximately 50 m
where banded sulphides are abundant.
The Company collected 84 surface channel samples across the
Paquita vein. Assay results returned average grades of 32 g/t Ag
and 0.4 g/t Au and ranged from < 5 g/t to 502 g/t Ag and
<0.05 g/t to 3.32 g/t Au. Average sample widths were
0.85 m.
Rosario Vein
The Rosario vein crops out between the Kelly and Paquita veins
and shares a similar northeast-southwest strike. It can be traced
discontinuously as quartz vein outcrops and small artisanal
workings over a strike length of approximately 2 km. The Rosario
vein is between 0.5 to 3 m wide and
is sub-vertical.
The vein is strongly silicified and brecciated — becoming
increasingly banded to the southwest. Iron and manganese oxides are
abundant as matrix between clasts.
The Company collected 33 surface channel samples across the
Rosario vein. Assay results returned average grades of 25 g/t Ag
and ranged from < 5 g/t to 110 g/t Ag. Average sample widths
were 0.82 m. Gold grades were
typically of low tenor— with the exception of two samples which
assayed 0.5 m @1.77 g/t Au and
1.7 m @ 1.29 g/t Au.
Quality Assurance and Quality Control
All assays were subject to quality control measures appropriate
for assay of reconnaissance channel samples taken in surface
outcrop and underground exposures of intermediate epithermal vein
mineralization. Samples were delivered to ALS Lima in
individually numbered bags sealed with unique single-use clip-lock
seals — ensuring that chain of custody was maintained. Sample
preparation, sub-sampling protocol and analysis followed
industry-recognized standards of best practice for the style of
mineralization and type of sample.
Samples were submitted in batches of 20 comprising 18 samples, a
field blank and a CRM (certified reference material). Samples were
prepared by ALS Lima who then couriered pulps to ALS Loughrea
(Ireland) for analysis. Field
blanks and CRM's assayed within tolerance limits.
Gold was analysed by fire assay with atomic absorption finish
using a 50 g sample charge (ALS code Au-AA26) — with a reportable
range of 0.01-100 ppm Au. Silver was assayed by fire assay with a
gravimetric finish (ALS code Ag-GRA21) using a 30 g nominal sample
weight — with reportable range of 5-10,000 ppm Ag. Samples were
also submitted for 33 element analysis by ICP-AES following a 4
acid digest — with reportable ranges silver (0.5 to 100 ppm), lead
(2 to 10,000 ppm), zinc (2-10,000 ppm) and copper (1-10,000 ppm
Cu). Over-range samples were resubmitted for analysis using a 4
acid digest and ICP-AES finish with the following ranges: Ag 1-1500
ppm (Ag-OG62), lead 0.001-20% (Pb-OG62), zinc 0.001-30% (Zn-OG62)
and Cu 0.001-40% (Cu-OG62).
Qualified Person
Dr. Christopher Wilson, Ph. D.,
FAusIMM (CP), FSEG, a Qualified Person under National Instrument
43-101, has reviewed and approved the technical information
contained in this news release.
About Mantaro Silver Corp.
Mantaro Silver Corp. is a British
Columbia company that holds a 100% interest in its flagship
Santas Gloria Silver Property as well as a 100% interest in the San
Jose, La Purisima, Cerro Luque and
Huaranay Properties.
Forward-Looking Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. 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 material factors, many
of which are beyond the Company's control. Such factors include,
among other things: risks and uncertainties relating to Company's
limited operating history and the need to comply with environmental
and governmental regulations. Accordingly, 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. Except as required
under applicable securities legislation, the Resulting Issuer
undertakes no obligation to publicly update or revise
forward-looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Mantaro Silver Corp.