Mantaro Precious Metals Corp. Announces New Environmental License at Golden Hill Property
Mantaro Precious Metals Corp. Announces New Environmental License
at Golden Hill Property
VANCOUVER, BC
,
Nov. 22, 2022
/CNW/ -
MANTARO PRECIOUS METALS CORP.
(TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) ("Mantaro") is
pleased to announce that the government of
Bolivia
has issued a new environmental license covering the entire area of the Golden Hill Property, Bolivia.
Mantaro would like to thank the environmental and technical team of Mineral Golden Hill who prepared a comprehensive environmental report on Golden
Hill Property.
Luis Kinn
, director of Mantaro and optionor of Golden Hill Property, "The Minera Golden Hill team started the new application for the renewal of its
environmental license in March 2021. Over the course of twenty months, our team continually worked with the environmental ministry to be awarded
this license.
Golden Hill
now holds an environmental license with an indefinite term allowing for any scale of open pit, any type of underground
developments and alluvial mining across the entire Golden Hill Property. With this permit in hand,
Golden Hill
has significant optionality for
expansion of both mineral exploration and exploitation regarding its mining activities."
The new environmental license is a significant milestone for the development of the Golden Hill Property. The license covers the entire 5,961 hectares,
which includes La Escarcha gold deposit as well as Gabby, Westhill and Brownfield targets. In addition, the environmental license has no expiry date and
allows for any scale of open pit, underground and alluvial mining operations. If needed, the Company has the ability to apply for greater mining
operations than anticipated in the license.
The ministry carried out a comprehensive review of the proposed handling of mining tailings, soil, sound, air, oils, hazardous materials, explosives,
machine scrap as well as flora and fauna considerations. Compliance with numerous regulations were also reviewed and verified by the ministry.
About Golden Hill Property
Golden Hill
is centered on a broadly north-south trending regional structure that hosts the La Escarcha underground mine and the Gabby, Garrapatillia
and Brownfields workings and gold-bearing vein occurrences in its western hanging wall. The same structure hosts numerous saprolite gold and hard
rock gold deposits to the north and south of Golden Hill over a strike length of at least 25 kilometers — underpinning the significant control the structure
exerts on gold mineralization.
A northwest-trending splay of this structure hosts areas of alluvial and saprolitic/hard rock workings within
Golden Hill
and immediately to the north. At
least six strike kilometers of these structures are known within
Golden Hill
in addition to the four kilometers between La Escarcha and Brownfields which
have been mapped in detail. Known mineralization and surface anomalism is open along strike on all structures.
Mineralization between La Escarcha and Brownfields is characterized by a series of broadly parallel, north-south trending, very steeply dipping quartz
veins that are between 1 to 5 meters wide. Mineralization is hosted in mafic metavolcanics, at the contact of metavolcanics and metasediments, and
within metasediments.
Veins are well exposed in underground workings at La Escarcha where they comprise multiphase white quartz and slivers of wall rock which are fracture
oxidized. Veins are up to 5 meters wide and contain significant visible gold. Mine staff have reported that gold grades increase downwards from surface
to the
60 m
level which is currently under limited development. Most gold appears to be free hosted in fractures within quartz and pyrite.
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 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 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 07:00e 22-NOV-22