Business
Fidelity Secures Surface Access to Underground Workings at the Las Huaquillas Project, Northern Peru
(TheNewswire) Vancouver, BC – TheNewswire - June 9 ...
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"Fidelity Secures Surface Access to Underground Workings at the Las Huaquillas Project, Northern Peru\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n June 9\n \n \n th\n \n \n , 2022\n \n \n –\n \n \n Fidelity Minerals Corp.\n \n \n (TSXV:FMN\n \n \n )\n \n \n (\n \n \n FSE:S5GM\n \n \n )\n \n \n (\n \n \n SSE:MNYC) (“\n \n \n Fidelity\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) is pleased to announce that it has secured access to\nunderground workings at the\n \n \n Socavones\n \n \n Zone on the Las Huaquillas\nProject in Northern Peru. The surface lands access agreements allow\nFidelity to clear access roads and access the three (3) main adits,\nwhich provide access to the\n \n \n approx. 1,200m of\nunderground development on three (3) levels in the Los Socavones Zone.\nThese surface adits provide ready access to the mineralized zone with\nan average true thickness of approximately 19 m which offers the\npotential for low-cost underground mining. Contractors have been\nengaged to provide quotations to re-open the underground workings\nbefore Fidelity completes an underground sampling program as soon as\npossible in 2022. Fidelity will collect metallurgical test samples of\nthe mineralization at the Socavones zone to better characterize the\nmineralogy and better define future process design and recovery\noptions.\n \n \n \n \n The Project is located within the Districts of San\nIgnacio and Nambelle, Province of San Ignacio, Department of Cajamarca\nin northern Peru, centred approximately 14 kilometres south of the\nEcuador-Peru border. The Project comprises eighteen (18) Concessions\nand Claims divided into two (2) Concession groups based on\nFidelity’s interest in the Concessions forming the groups.\n \n \n \n \n The Las Huaquillas Core Group is comprised of nine (9)\ncontiguous Concessions, which cover a geographic area of 3,600\nhectares. The nine (9) Concessions are owned by Rial Minera S.A.C.,\nfor which Fidelity has secured a 44.5% interest.\n \n \n As announced on July 21, 2021, Fidelity acquired an option\nfor an additional 5.5% interest in Rial Minera S. A. C.\n \n \n by agreeing to a total cash consideration of $500,000 US and\nfunding up to $3,000,000 US in underground sampling and exploration\ndrilling to un...