VANCOUVER, BC, May 11, 2022 /CNW/ - MANTARO PRECIOUS METALS CORP. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) (the "Company" or "Mantaro") is pleased to announce the mobilization of a crew from Leduc Drilling S.R.L. ("Leduc Drilling") to start its maiden 5,000-meter diamond drill program on the Golden Hill Property, located in Bolivia. The Company anticipates drilling to commence the week of May 15, 2022.
Craig Hairfield, Chief Executive Officer of the Company states, "After several months of extensive geologic work and preparation, the Mantaro team is excited to begin its maiden 5,000-meter drill program on the Golden Hill Property. Our geologists have mapped a significant mineralized footprint, extending over 6 kilometers in strike length across the Golden Hill concession and we are eager to test the property's potential. We are pleased to be working alongside Leduc Drilling, a reputable drilling services company with extensive drilling experience in Bolivia."
Golden Hill is centered on a broadly north-south trending regional structure that hosts the La Escarcha underground mine and the Gabby, Garrapatillia and Brownfields workings and gold-bearing veins in its western hanging wall. The same structure hosts numerous saprolite gold and hard rock gold deposits to the north and south of Golden Hill over a strike length of at least 25 kilometers — underpinning the significant control the structure exerts on gold mineralization.
Exploration drilling efforts will initially focus on La Escarcha given its veins are well exposed at both surface and in underground workings. Mantaro will likely conduct subsequent scout drilling at the Gabby, Brownfields, Garrapatillia and Westfield exploration targets.
Dr. Christopher Wilson, Ph. D., FAusIMM (CP), FSEG, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
Mantaro Precious Metals Corp. is a British Columbia company that holds a diversified portfolio of gold and silver focused mineral properties in Bolivia and Peru. The Company's holds an option to acquire up to an 80% interest in the advanced Golden Hill Property ("Golden Hill"), located in the underexplored, orogenic Bolivia Shield, Bolivia.
The Company also has a 100% interest in the high-grade Santas Gloria Silver Property as well as a 100% interest in each of the San Jose, La Purisima, Cerro Luque and Huaranay Properties (collectively, the "Silver Properties"). The Silver Properties are located in Peru.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mantaro Precious Metals Corp.