Madoro Discovers New Multi-Kilometer Epithermal and Skarn Trend at Yautepec – Adds Three New Mining Concessions to Secure Finds
Madoro Discovers New Multi-Kilometer Epithermal and Skarn Trend
at Yautepec – Adds Three New Mining Concessions to Secure Finds
FOR RELEASE: APRIL 22, 2021 TSXV: MDM
OTC: MSTXF
WKN: A2QQ1X
Vancouver, BC, Canada - Madoro Metals Corp. (“Madoro” or the “Company”) is pleased to
announce that it has formally filed with the Mexican Mines Department for three additional
mining concessions abutting its Yautepec Project, in the State of Oaxaca, Mexico.
“These new areas were identified through the systemati c application of our exploration model,”
said David Jones, Exploration Manager and Director of Madoro . “Through carefully targeted
exploration, Madoro has been remarkably successful to date in finding significant areas of gold,
silver, and base metal mineralization with no prior history of exploration or mining. The
addition of these properties on the southern end of our Yautepec Project covers a multi -
kilometer trend of mineralized epithermal and skarn alteration, greatly expanding our number of
high-quality targets for exploration drilling.”
Madoro has completed three periods of work on the southern portion of its Yautepec Project and
has been following up on encouraging early results from the San Bartolo area (see p ress release
dated September 30, 2020) . The three new concessions total 1,550 hectares, bringing the total
project area to 13,810 hectares, and cover areas demonstrating exceptional exploration potential
for polymetallic (Au -Ag-Cu-Pb-Zn) epithermal and skarn systems. These systems are sim ilar to
and lie within the same regional structural belt as the currently producing San Jose (Fortuna
Silver – NYSE: FSM) and Arista -Switchback (Gold Resource Corp – NYSE: GORO) mines in the
State of Oaxaca, Mexico.
Madoro’s latest round of work in the ar ea led the Company to add the additional ground. The
most recent work by the Company’s geological team included mapping and sampling; these
samples are currently in the lab awaiting assays. Upon receipt of its p ending assay results, the
Company will be in a better position to isolate targets and plan its drill campaign , and to
comment on the growing opportunity in the region.
Further, the Company has granted an aggregate 1,500,000 incentive stock options (the "Options")
to officers and directors of the Co mpany. The Options ar e exercisable at $0.11 per share for a
period of 3 years from the date of grant and subject to vesting over a 3-year period. The Options
have been granted under and are governed by the terms of the Company's incentive stock option
plan.
About Madoro Metals Corp.
Madoro Metals Corp . ( MDM | TSX Venture Exchange; MSTX F | OTC ) is a Mexico- focused
precious metals company actively engaged in exploration and development of three gold- silver
projects in the state of Oaxaca, Mexico. The Yaute pec, Magdalena, and Rama de Oro projects
each consist of large epithermal systems th at are highly prospective for precious metals in
structural and geologic settings similar to those of nearby producing mines. Systematic
exploration has advanced two of the projects towards drilling with the intention of discovering
an economic mineral deposit.
On behalf of Madoro Metals Corp.
“Dusan Berka, P. Eng.”
President & CEO
For more information, please contact: Investor Relations at +1 (604) 681-8240 or via email at
www.madorometals.com
#1450 – 789 W. Pender Street
Vancouver, BC V6C 1H2
Canada
Tel: +1 (604) 681-1568 Email: [email protected]
Neither TSX Venture Exchange nor its Regulatio n Services Provider (as that term is defined in the
policies of the TSX Venture Exch ange) accepts responsibility for the adequacy or accuracy of this
release.
This news release may contain forward -looking statements including but not limited to comments
regarding timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. Forward -looking statements address future
events and conditions and therefore involve inherent risks an d uncertainties. Actual results may
differ materially from those currently anticipat ed in such statements. Madoro Metals Corp. relies
upon litigation protection for forward-looking statements.