Fidelity Minerals Corp has announced that permitting activities have begun ahead of a pending exploration drilling program at its 50%-owned Core Las Huaquillas (CLH) precious and base metal property in Peru.
The permitting process, which is expected to be completed by March 2022, will include environmental monitoring, a water use permit, an archaeological report, and all other activities required to obtain a permit to conduct drilling operations.
The company also said it has finalized a US$3 million exploration plan and budget with its joint venture partners for 2021 and 2022.
READ: Fidelity Minerals poised for US$3M exploration program at Las Huaquillas project as company strikes deal to lift its ownership to 50%
Fidelity Minerals noted the CLH Project features extensive historical exploration completed by Sulliden Exploration Inc and others through 1999, which included soil sampling, geophysics, 5,742.9 metres (m) of diamond drilling, and the excavation of about 1,200m of underground development on three levels in the Los Socavones Zone.
It added that the previous work defined five mineralised zones, consisting of four mineralisation types including epithermal gold-silver and porphyry copper style mineralisation at the project.
As well, the company said it has started work on writing a National Instrument (NI) 43-101 technical report for the property, which will provide an update on the current status of the property and all historical work performed including any historical, non-NI 43-101 compliant resources. The report is expected to be published in four to six weeks.
Fidelity Minerals has a portfolio of high-quality mining assets in Peru, where it hopes to delineate major deposits to attract the interest of mid-tier and major mining companies.
Contact Sean at sean@proactiveinvestors.com