Forte Minerals CEO Patrick Elliott joined Steve Darling from Proactive to share news the company has acquired the Alto Ruri Gold Project in Peru, marking a significant addition to its portfolio. This project, discovered in 1997 by Ventura, features a discovery hole with 131 meters of 2.5 grams of gold from the surface, including a segment of 54 meters with 5.4 grams. The acquisition from Globetrotters grants Forte Minerals a 100% interest in the project.
This strategic acquisition, a decade in the making, was secured against competition from a major mining company. The project is notably located 15 kilometers south of a mine operated by Barrick Gold in Central Peru, which has produced over 8 million ounces of gold. The proximity to such a well-established mining operation underscores the strategic value of the new acquisition. The project area covers 4,700 hectares and includes both high sulphidation epithermal gold targets and a Porphyry target, Cerro Quillo, which saw work by Anglo American in 2004, and yielded significant gold intersections. Moving forward, Forte Minerals plans to engage with local communities, a process already initiated last year, and work towards obtaining a drill permit.
The company's immediate focus will be on expanding the known resource through drilling, leveraging the property's well-defined surface characteristics and substantial alteration. The addition of this project is a testament to the team's capability to attract high-quality projects and significantly enhances 14 Minerals' portfolio, balancing it with both historically discovered properties and new, unexplored prospects. This development positions the company for potential new discoveries and further exploration success in the gold and copper sectors.