Mantaro Precious Metals Completes Initial Diamond Drill Program at Golden Hill Property
Mantaro Precious Metals Completes Initial Diamond Drill Program at
Golden Hill Property
Vancouver, BC
,
Aug. 11, 2022
/CNW/ -
MANTARO PRECIOUS METALS CORP.
(TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) (the "Company") is
pleased to announce that it has completed its initial diamond drill program on multiple prospects at its highly prospective Golden Hill Property,
located in
Bolivia
.
Highlights:
21 diamond drill holes completed for a total of 3,009 meters at the La Escarcha Gold deposit as well as the Gabby, Brownfield and
Westfield
prospects.
Drilling at La Escarcha Gold deposit successfully intercepted down dip extensions of multiple gold bearing quartz veins to depths of 225 meters
beneath surface.
Scout diamond drilling Gabby, Brownfield and
Westfield
prospects intersected anticipated quartz veins and silicified fluid pathways below
surface.
Assays pending for all diamond drill holes.
Craig Hairfield
, Chief Executive Officer of the Company states, "Our initial drill program at Golden Hill met our objective to confirm that the La
Escarcha gold bearing structures continue at depth. Scout drilling to the south (Gabby and Brownfield prospects) and southwest (
Westfield
prosect) intersected quartz vein targets reaffirming our belief that the Golden Hill vein system is open along strike for several kilometers. We are
excited to prove that Golden Hill is a typical greenstone hosted gold system, which traditionally contain deposits occurring in clusters along
regional structures over strike lengths of several kilometers and depths of >1 kilometers."
Drilling at La Escarcha targeted down dip extensions of historically mined veins at La Escarcha open pit, aiming to confirm high-grade gold
mineralization beneath the extent of historic mining (ie. below 60 meter depth). Drilling successfully intercepted broad multiphase quartz shear zones
typical of greenstone hosted orogenic gold deposits. The program has also confirmed down dip extensions of the historically mined C1, C2, C3, and
C4 gold bearing quartz shear zones at La Escarcha gold deposit, to depths of 225 meters beneath surface.
After drilling completed at La Escarcha, Mantaro carried out a scout diamond drill program to test the southern strike extensions of the Golden Hill
vein system, beneath areas with historic surface workings, at the Gabby and Brownfield prospects. Drilling also targeted gold mineralization across
the parallel vein swarm located directly west of La Escarcha at the
Westfield
prospect.
Samples are presently being prepared at ALS in Oruro (
Bolivia
) for assay by screen fire at ALS Loughreah (
Ireland
). All assays are pending. Drilling
by
Leduc
was much faster than anticipated with excellent core recovery and overall quality. As such, Mantaro is electing to temporarily suspend
drilling until all assays are received. Assay results will assist Mantaro in designing the next phase of drilling, which will seek to further define the
potential depth of the gold system at La Escarcha as well as the potential for other deposits along trend to the north and south.
Figure 1 – Plan view of 20 out of 21 completed holes at Golden Hill Property (CNW Group/Mantaro Precious Metals Corp.)
Figure 2 –Map of the Golden Hill Property Highlighting Drill Target (CNW Group/Mantaro Precious Metals Corp.)
Mantaro Precious Metals Corp.
Mantaro Precious Metals Corp. is a
British Columbia
company that holds a diversified portfolio of gold and silver focused mineral properties in
Bolivia
and
Peru
. The Company's holds an option to acquire up to an 80% interest in the advanced Golden Hill Property ("
Golden Hill
"), located in the
underexplored, orogenic Bolivia Shield,
Bolivia
.
The Company also has a 100% interest in the high-grade Santas Gloria Silver Property as well as a 100% interest in each of the San Jose, La
Purisima,
Cerro Luque
and Huaranay Properties (collectively, the "
Silver Properties
"). The Silver Properties are located in
Peru
.
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 Precious Metals Corp.
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For further information:
Leo Karabelas, Phone: (647) 689-6041, E-mail: [email protected]
CO: Mantaro Precious Metals Corp.
CNW 07:52e 11-AUG-22