Fidelity Minerals Significantly Expands Footprint at Las Brujas and Porphyritic Copper Projects
Fidelity Minerals Significantly Expands Footprint at Las
Brujas and Porphyritic Copper Projects
Vancouver, BC, August 12th, 2020 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE:
MNYC) (“Fidelity Minerals” or the “Company”) is pleased to provide an update on the ongoing
strategic expansion of key projects, through the acquisition of contiguous concessions.
Las Brujas Project (FMN: 100%)
Following recent exploration success at the Las Brujas project , the Company believes it is in the
early stages of defining a number of potentially significant epithermal gold resources. As announced
on 12 June 2020, assay results confirmed gold mineralisation at three distinct zones visible along a
road cut with gold grades reaching 15.3g/t Au, 1.59g/t Au and 1.16g/t Au. Encouragingly, each of
the mapped anomalies remain open in all directions, including extensions into newly acquired
concessions. The original project (1,900ha) acquired by Fidelity Minerals in June 2019, was
expanded to 3,400ha in early 2020, and in recent weeks, has been expanded further, to 5,000ha in
total. Importantly, the recently acquired concessions contain geochemical gold anomalies that
extend from recently identified zones of interest, as well as a large multi-square kilometre (km 2)
anomaly which the company plans to sample at the earliest opportunity. The Company is currently
preparing plans for a more comprehensive mapping and sampling project to build on the initial
positive results.
Porphyritic Copper Project (FMN: 100%)
The Porphyritic Copper project consists of 1,200ha, where historical sampling has identified
anomalous gold and copper, with peak grades in excess of 1% Cu. Recent remapping and
reinterpretation of historical data has identified a number of zones of interest, which may represent
the exposed sections of a typical Cu-Mo porphyry system. Whilst exploration at this project is at an
early stage, in order to capture this additional prospectivity, Fidelity Minerals has recently applied
for three new concessions, in order to secure a further 2,800ha of this highly prospective project.
Objectives of Project Expansion
In the most recent corporate presentation (6 July 2020), the Company outlined its medium -term
objectives, including to:
• Cost-effectively delineate sub stantial gold, copper and silver resources from the existing
project portfolio;
• Opportunistically expand the project portfolio, with accretive acquisitions; and
• Define a >1 million-ounce gold (I Moz-eq) gold resource within 3 years.
The significant increase in footprint across several projects is in line with the Company’s objective
of building strategic positions at key projects before the prospectivity of these projects is enhanced
further by planned near -term exploration activities . Several credible parties have expressed an
interest in earning -in to Fidelity’s projects . S ecuring a substantial project footprint is a critical
requirement in being able to secure the interest of larger parties. The Company has also embarked
on a number of permitting related initiatives, which are expected to potentially enable fast -tracked
access to several projects, including for bulk-sampling, should this be warranted.
The recently completed private placement provides the Company with the resources to be able to
rapidly assess the prospectivity of key projects within the portfolio.
Further details about key projects, can be found in the most recent Fidelity Minerals Corporate
Presentation (6 July 2020) available at:
https://www.fidelityminerals.com/latest-presentation
The Company has granted an aggregate of 1,925,000 incentive stock options (the "Options") to
certain directors, officers and consultants of the Company pur suant to the Company's previously
approved Stock Option Plan. The Options are exercisable at a price of $0.105 per share for a period
of 5 years. The Options are subject to TSX-V approval.
On behalf of the Board of Fidelity Minerals;
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS NEWS RELEASE.
Disclaimer & Forward -Looking Statements: This news release contains forward -looking statements.
Forward-looking statements are statements that relate to future events or future fi nancial performance. In some
cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”,
“expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the
negative of these terms or other comparable terminology. These statements speak only as of the date of this news
release. This news release may also contain inferences to future oriented financial information (“FOFI”) within
the meaning of applicable sec urities laws. The information in this news release has been prepared by our
management to provide a context for the project acquisition and to provide the reader with an outlook for our
future activities and anticipated key projects and may not be appropri ate for other purposes. Forward -looking
statements in this announcement include, (but are not limited to) the expectation that project prospectivity will be
enhanced further by planned near -term exploration activities, that Securing a substantial project f ootprint is a
critical requirement in being able to secure the interest of larger credible parties; that the Company has also
embarked on a number of permitting related initiatives, which are expected to potentially enable fast -tracked
access to several projects, including for bulk-sampling, should this be warranted; and that advancing certain key
project activities that could represent important milestones which the Company expects may represent material
valuation catalysts, such as the expectation that through the Strategic Project Generator model Fidelity Minerals
is positioning itself to be a beneficiary in this environment of increased appetite for prospective projects in this
region. Further, forward-looking statements in this release include that Fidelity Minerals Corp. is assembling a
portfolio of high -quality mining assets in Peru through the implementation of our Strategic Project Generator
(SPG) model. The project generator model involves the identification and acquisition of appraisal stage
opportunities with near-term valuation catalysts, including potential for high-impact M&A.