Mantaro Precious Metals Corp. Commences Follow-up Tailings Sampling at Golden Hill
MANTARO PRECIOUS METALS CORP. COMMENCES FOLLOW-UP
TAILINGS SAMPLING AT GOLDEN HILL
VANCOUVER, BC
,
July 26, 2023
/CNW/ -
MANTARO PRECIOUS METALS CORP.
(TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) (the
"Company") is pleased to announce the commencement of follow-up tailings sampling at the Golden Hill property ("Golden Hill"). This program
aims to quantify the gold content within the tailings, with the ultimate goal of evaluating the potential for re-processing via heap leaching and
increasing the resource base at Golden Hill.
Highlights:
Follow up sampling survey to provide base for resource estimation of approximately 600,000 tons of historical tailings.
Builds on preliminary sampling which returned average grades of 1.33 g/t Au with 96% of gold recoverable via cyanide leaching.
Mantaro has begun a comprehensive follow-up tailings sampling campaign to categorically determine the gold content within the estimated
600,000 tons of historical tailings at Golden Hill. This study will build upon the previous preliminary tailings sampling program completed in 2021,
which consisted of 16 samples and yielded an average gold grade of 1.33 g/t Au with 96% of the gold recoverable via cyanide leaching.
The new study aims to provide a more accurate representation of the quantity of gold contained within the tailings, further assess reprocessing
options, and potentially expand on the company's maiden resource. The results obtained from this tailings sampling campaign will form a
quantitative dataset from which NI-43-101 compliant resource estimates can be calculated — which will in turn feed into a Preliminary Economic
Study on Golden Hill.
To ensure the accuracy and reliability of the sampling program, Mantaro has enlisted experienced geologists who will oversee the project and
ensure NI-43-101 compliant best practice protocol and quality assurance and quality control (QAQC) procedures are followed. The geologists
will systematically collect and analyze samples from predetermined random grid-spaced locations at various depths within the tailings. This
approach guarantees a representative assessment of the gold content within the tailings.
Darren Hazelwood
, Chief Executive Officer of the Company states, "Building upon the promising results of our preliminary tailings sampling
program completed in 2021, we are eager to obtain a more definitive understanding of the gold content within the estimated 600,000 tons of
historical tailings. The results of this tailings sampling campaign will serve as a crucial foundation for future decision-making regarding re
processing strategies of tailing and potential resource expansion opportunities within Golden Hill."
Figure 1: Map of the Golden Hill property highlighting the tailings area in blue, which measures approximately 300 x 500 meters and up to 15
meters deep. (CNW Group/Mantaro Precious Metals Corp.)
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 holds an option to acquire up to an 80% interest in the advanced Golden Hill orogenic gold property ("Golden
Hill"), located in the underexplored Precambrian Shield,
Bolivia
.
In
Peru
, the Company 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.
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, ability to obtain sufficient financing to carry out its exploration programs 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 Company 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.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/mantaro-precious-metals-corp-commences-follow-up-tailings-sampling-at-golden-hill-301885766.html
SOURCE
Mantaro Precious Metals Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2023/26/c3836.html
%SEDAR: 00028103E
For further information:
Darren Hazelwood, Phone: +44 (0) 7971 957685, E-mail: [email protected]
CO: Mantaro Precious Metals Corp.
CNW 00:02e 26-JUL-23