Forte Minerals Corp (CSE:CUAU, OTCQB:FOMNF) CEO Patrick Elliott tells Proactive's Angela Harmantas that the company, has made a landmark acquisition, solidifying its position in the Peruvian mining sector.
During PDAC 2024, Elliott revealed the strategic acquisition of the Alto Ruri project, a gold exploration site adjacent to Barrick's renowned Pierina mine. This move marks a culmination of 12 years of diligent efforts by Forte's project generator, Globetrotters, showcasing their prowess in navigating the competitive landscape and governmental negotiations to secure 100% control of this high-potential area.
Discovered in the late '90s by Buena Ventura, the project's initial explorations indicated significant gold deposits, with the first drilled hole yielding 131 metres of 2.55 grams of gold from the surface. Such findings underscore the site's potential to host a major sulfidation system akin to that exploited by Barrick for over two decades. Elliott's vision for Forte Minerals involves leveraging Peru's underexplored terrains to uncover tier-one assets, bolstered by a top-tier exploration and governance team.
The acquisition is not just an addition to Forte's portfolio but a transformational deal set to expedite the company's mission in Peru. Elliott says the strategy involves immediate social engagement and commencement of the permitting process, reflecting a deep commitment to sustainable and cooperative community relations. This approach, inspired by Barrick's longstanding success in the region, aims to replicate such symbiotic partnerships.