Fidelity Minerals Corp has announced results from confirmatory sampling of nine rock and outcrop exposures at its 44.5%-owned Core Las Huaquillas (CLH) precious and base metals project in Peru, which included 9.7 grams per tonne (g/t) gold, 126 g/t silver, and 1.1% lead from a grab sample.
The company said the confirmatory sampling was completed as part of a site visit by Luc Pigeon, who is authoring a new National Instrument (NI) 43-101 technical report on the project.
Fidelity Minerals noted the CLH project features extensive historical exploration completed by Sulliden Exploration Inc and others through 1999, which included soil sampling, geophysics and over 5,700 metres of diamond drilling.
READ: Fidelity Minerals poised for US$3M exploration program at Las Huaquillas project as company strikes deal to lift its ownership to 50%
It added that the previous work defined five mineralised zones, consisting of four mineralisation types including epithermal gold-silver (Los Socavones), and porphyry copper-style mineralisation (Cementerio and San Antonio) at the project.
The company said the NI 43-101 technical report is expected to be completed by mid-December and will detail the current status of the property and all historical work performed including any historical, non NI 43-101 compliant resources.
The project has not been the subject of a current resource estimate compliant with NI 43-101 and additional work will need to be done to classify any historical mineral resources on the Las Huaquillas property as current, according to the company.
Fidelity holds an option to acquire an additional 5.5% interest in the CLH project.
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