VANCOUVER, BC, July 21, 2021 /CNW/ - MANTARO SILVER
CORP. (TSXV: MSLV) (the "Company") is pleased to
announce an initial work program on its high-grade silver San Jose
Silver Property, located 180 km north of Lima, Peru. The San Jose Silver Property
is comprised of five mineral concessions totaling 3,300
hectares.
Highlights of San Jose Silver Property:
- Over twelve kilometres of veins and inferred strike
extensions of veins (see Figure 1)
- Recent small scale mining by previous operator extracted
42,000 tonnes of material with silver grades between 15 to 20
ounces per tonne.*
- Four key target zones: San Jose Vein, El Sarco Vein, UTCAS 1
Vein and UTCAS 2 Vein.
- Initial Program to involve field mapping and sampling of the
UTCAS veins.
"Our corporate strategy is to acquire robust precious metals
projects at favourable terms and low holding costs. The San
Jose Silver Property is an excellent example of this acquisition
thesis. With four main silver veins totalling 12 kilometres,
it has numerous high-grade silver targets for the company to
explore in the future. We are actively engaging the local
community to discuss our future plans for the San Jose Silver
Property," commented Dr. Christopher
Wilson.
The San Jose Silver Property is a highly prospective silver
property located within the prolific Miocene-Pilocene Epithermal
belt. The Company anticipates that the San Jose Silver
Property has an intermediate suphidation epithermal deposit.
These deposits are characterized by vertical mineralization over
100's of metres and are usually high-grade in nature, which makes
them attractive exploration targets.
There are over 12 kilometers of veins and inferred strike
extensions of veins. The veins are divided into four target
zones: San Jose vein, El Sarco vein, UTCAS 1 vein and UTCAS 2
vein.
- The San Jose vein has approximately 200 meters of underground
development on four levels. Veins are between 2-3 meters
wide.
- The El Sarco vein is located 1,200 meters from the San Jose
mine. Mapping has indicated average widths of over 1.0 to 1.5
meters over a strike length of over 1 kilometer. Historic surface
channel sampling reported 2.8 to 3.4 ounces per tonne Ag, which is
significant given veins are leached at surface.
- The UTCAS veins have returned results of up to 197 grams (6.3
oz) per tonne Ag over 1-2 meters, which is significant given
weathered nature of veins in outcrop.
From 2013 to 2018, a small scale underground mine was operation
on the San Jose vein. An estimated 42,000 tonnes of material
was extracted with reported silver grades between 15 to 20 ounces
per tonne. Production exploited approximately 200 meters of
the western margin of San Jose on four levels.
*Information derived from Pan American Silver Internal Report
(2018), titled Reporte De Reconocimiento Geologico, "Proyecto –
Mina San Jose, Cajatambo".
Field Work Commenced at UTCAS Veins
The Company has recently commenced field mapping and geochemical
sampling of the UTCAS veins. Work will initially focus on mapping
the vein extensions and collecting channel samples along the
veins. The results of the channel sampling program will be
released in due course.
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.