VANCOUVER, BC, Aug. 23, 2021 /CNW/ - MANTARO SILVER CORP.
(TSXV: MSLV) (FSE: 9TZ) (the "Company" or "Mantaro")
provides an exploration update for its San Jose and Santas Gloria
high-grade silver properties, located in central Peru.
Highlights:
- Access agreement reached with the UTCAS community for the
Company's 100% owned San Jose silver project.
- Reconnaissance mapping by the Company has so far identified
7 previously undocumented veins and a new copper
showing/anomaly at San Jose (see Figure 1).
- First CIRA awarded by the Peruvian Ministry of Culture for
the Santas Gloria Silver Property - an important step towards
receipt of the drilling permit.
- The Company is currently mapping and channel sampling
extensions of known veins at Santas Gloria to assist with final
planning for the phase one drill program.
San Jose Silver Property
The Company is pleased to announce that an access agreement with
the UTCAS community has been granted, providing Mantaro access
throughout much of the San Jose Silver Property as well as
permitting the Company to conduct non-invasive surface exploration
activities. This agreement also represents the desires of
both parties to continue to develop an open dialog and mutually
beneficial interests in the San Jose property.
Jos Hantelman, Mantaro's Exploration Manager for South America states, "reaching an access
agreement with the UTCAS community is a significant operational
milestone at San Jose. With the access agreement in place,
the Company has identified 7 previously undocumented veins, several
of which represent obvious drill targets."
The San Jose Silver Property is a highly prospective silver
property located within the prolific Miocene-Pilocene Epithermal
belt. The San Jose Silver Property, which is 100% owned, is
comprised of five mineral concessions totaling 3,300 hectares and
is located 180 km north of Lima.
Historical underground mining was restricted to a very small
area of one vein and most of the San Jose Silver Property is
largely unexplored. Mantaro's seasoned technical team have
identified seven (7) new veins and collected 123 rock-chip channel
samples. Mantaro has dedicated a field team to San Jose who
are continuing to map and sample vein extensions and structures.
Samples are being submitted to ALS in Lima for analysis. The newly mapped
veins are pervasively oxidized and quartz dominant, with relict
pyrite and galena. Textures and mineralogy suggest that only
the uppermost parts of the intermediate sulphidation system is
exposed — highlighting excellent depth potential.
Santas Gloria Silver Property
Mantaro is also pleased to announce that it has received its
first archaeological survey report (CIRA) at the Santas Gloria
Silver Property, following an archaeology survey completed by
Geades and a site inspection by the Peruvian Ministry of Culture
(Ministerio de Cultura). The CIRA represents an important step in
the exploration and drill permitting process.
The Santas Gloria Silver Property, which is 100% owned, is
comprised of seven mineral concessions totalling 3272 hectares.
Mantaro has already completed an extensive mapping and channel
sampling program at Santas Gloria. Channel samples taken in
oxidized outcrop defined a number of significantly silver and gold
anomalous intermediate sulphidation veins. Channel sampling of
sulphide material in historical adits returned robust assays of up
to >10,000 g/t Ag, 56.3 g/t Au, 10.3 % Pb and 9.07 % Zn (see
news release dated June 2, 2021).
Metallurgical test work of sulphide samples taken from
underground adits supports both bulk flotation flow-path and
sequential flotation flow-path, with the bulk flotation flow-path
producing a single gold, silver, lead and zinc rougher concentrate
(15 minutes of flotation and 8.6% mass pull) with 10,545 g/t
silver, 5.38 g/t gold, 5.17% zinc and 13.8% lead and recovering
88.1% of the silver, 80.9% of the gold, 64.4% of the zinc and 79.3%
of the lead (see news release dated August
9, 2021).
Mantaro is currently mapping and channel sampling vein
extensions that were not previously mapped, in order to define
further targets for the upcoming drill program. Interpretation of
high-resolution satellite imagery indicates that there are over 6
kilometres of veins yet to be mapped and sampled.
Figure 1. Vein Structure at San Jose Silver Property
Qualified Person
The technical content of this news release has been reviewed,
verified and approved by Dr. Chris Wilson, B.Sc
(Hons), PhD, FAusIMM (CP), FSEG. Chief Executive Officer and
Director of Mantaro, a qualified person as defined by NI
43-101.
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.