Rio Silver Commences Baseline Environmental Studies
Rio Silver Commences Baseline Environmental Studies
VANCOUVER, British Columbia, May 07, 2024 -- Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to
announce it has initiated an Environmental Impact Study, a component of the permitting application currently underway in
support of a planned diamond drilling campaign, at the wholly owned Jorimina Gold / Silver Project scheduled for Q3, 2024.
Ecosoul Environmental Impact Consultants, based in Ayacucho, South Central Peru, has been contracted by the Company to
undertake a full suite of environmental baseline monitoring studies which includes preparation of the necessary submittals
required by the General Directorate of Mining Environmental Affairs with the Ministry of Energy and Mines, Peru, in support of
the permitting application.
Ecosoul’s scope also includes professional archaeological investigations and community workshops along with the necessary
liaison activities currently underway, by utilizing dedicated personnel with a successful track record working in this local
region. Ecosoul will monitor and report on achieved milestones with ‘Citizen Participation in the Mining Subsector’,
corresponding with the local ministries and stakeholders together ensuring a successful path towards a resource defining,
exploration campaign in 2024.
“We are very pleased to have Ecosoul on site” says Rio Silver’s President, Chris Verrico. “Having a regional based professional
team mobilized at Jorimina re-establishing an environmental baseline monitoring regime while advancing social awareness
through local workshops and presentations. These activities all help reduce barriers for local participation and input essential
for all stakeholders, as we progress building on the historic US 7 million dollars in geological studies and preliminary economic
analysis by Newmont, unveiling it’s potential internally in a 2012 Report. I also want to congratulate our Community Liaison
team for their dedicated resolve. They are now joined with the specialists from Ecosoul in progressing the application process
for the planned initial drill program and beyond. This work plan has been long anticipated and an instrumental step towards
ranking Jorimina’s geological potential, which all lies within our Niñobamba project envelope. Niñobamba ranks highly amongst
its peers operating in this prolific trend hosting some of the most successful and lowest cost gold and silver producers
anywhere”.
About Niñobamba
The Company’s 100% owned Niñobamba Project hosts 2 discreet precious metal targets at opposite ends of a 6.5 km
prospective corridor in a prolific, precious metals hosting geological belt in central Peru. The Company has modelled 2 world
class resource targets where previously the Company, Newmont Mining, Anglo Gold and others have spent in excess of
US$10 million evaluating this mineralized trend’s potential. The silver-rich Niñobamba “Main Zone and South Zones” are also
drill ready and the Company’s geologists have targeted the near surface, silver and gold mineralization as a potential open pit
situated at the other end of an anomalous trend from Jorimina’s predominantly Gold dominant Zone being the primary focus of
the Newmont exploration programs.
About Rio Silver Inc.
Rio Silver has been a selective incubator, accumulating precious metal assets that afford only the best possible leverage and
returns in anticipation of the current and increasingly more favourable precious metals bull market. The Company recently sold
it’s 50% interest in the Palta Dorada Property in central Peru, a small scale high grade mesothermal gold and silver project to
it’s former partner at the time, Peruvian Metals Corp., for US $250,000 in cash and a 3% Net Smelter Royalty capped at US
$2 million having US $250,000 in guaranteed minimum royalty payments.
We remain impressed by the resilience and ingenuity of our host country as Peru continues to develop supportive mining
policies to ensure continued growth and opportunity throughout Peru.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: [email protected]
Website: www.riosilverinc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of
future performance and actual results or developments may differ materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in forward-looking statements include market prices market
prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market
or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are
advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking
statements except as required by applicable laws.