Fidelity Minerals has announced details about the significant copper and gold opportunities within the project portfolio, with a particular emphasis on the Las Brujas project, in Cajamarca, Peru, where the Company believes it is at the early stages of defining a number of potentially significant epithermal gold resources.
This project is a 100% owned opportunity that exists in addition to a historical gold resource reported by previous operators at Las Huaquillas (which resource is non-compliant, purely historical, and cannot be relied upon for any purpose).
Based on the review the Company carried out its first sampling program on the Las Brujas Property.
Initial mapping and sampling of the new outcrops identified zones where limonite, goethite and manganese oxide minerals occur within the fractures of brecciated plagioclase porphyritic rock. Pervasive hematite alteration is also commonly present. Assay results confirm gold mineralization at three distinct structures visible alongthe road cut with Au concentrations reaching 15.3g/t Au, 1.59g/t Au and 1.16 g/t Au.
The sampling undertaken was constrained to new roads, and did not sample the highest priority targets identified during desktop evaluation.The samples described herein are from grab samples weighing from 1.5 to 2.5 kg taken over 30 to 60cm of potential mineralization.
The company is currently preparing a second more comprehensive geological mapping and sampling project to build on the initial positive results. This project will be carried out once the Covid 19 restrictions are lifted for interprovincial travel.
“Gold mineralisation at Las Brujas was first discovered in 2000.Based on the geochemical signature, the discovery was described as being typical of an epithermal precious metal system. Since acquiring the project a year ago, Fidelity Minerals moved to identify prospective areas based on new remote sensing technology, and to perform our maiden field sampling program.
We are pleased that we have already identified several new significant zones of gold-bearing altered structures in road cuts. These results confirm that gold is likely sporadically outcropping at numerous locations on the Property.
Based on the recent findings, we believe the Las Brujas project provides Fidelity Minerals with a unique opportunity to be the first to delineate a gold resource on this Property which is located in a world-class gold mining district that is rapidly running out of reserves.” states Bahay Ozcakmak, executive chair.
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.
The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value.