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Rio Silver: 2017 Exploration Program at Niñobamba Silver/Gold Project, Peru to Commence with the Outlining of Priority Silver/Gold Targets
Rio Silver: 2017 Exploration Program at Niñobamba Silver/Gold Project, Peru to Commence with the Outlining of Priority Silver/Gold Targets.
About this update from Magellan Copper And Gold Corp.
[{"type":"text","content":"\nTORONTO, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Rio Silver Inc. (TSX.V:RYO) (“Rio Silver” or the “Company”) and its project partner, Magellan Gold Corporation (OTCQB:MAGE) (“Magellan”), jointly (“the Partners”) announce that they have initiated exploration work on the expanded Niñobamba Project, located 330 km southeast of Lima in the Department of Ayacucho, Peru. Recent strategic additions to the land package have created a large, contiguous property consisting of 3100 hectares and another 553 hectare concessions pending title confirmation. (See news releases of September 8, 2016 and January 10, 2017). Magellan will be spending US$2 million at the Niñobamba project to earn its 50% interest.\nProject History: Significant historical exploration work has been conducted at several of the Niñobamba concessions over many years by previous property owners; AngloGold, Bear Creek Mining, Newmont Gold and Southern Peru Copper Corp. This historical work provides the project with much exploration data and numerous gold, silver and combined silver/gold targets in an historic silver mining district with positive infrastructure in mining-friendly Peru. A geologic environment that suggests the potential for high sulphidation, epithermal precious metal deposits has the Company’s geologists focusing first on the area trenched earlier by the Company. Two subparallel zones of silver/gold and silver mineralization; the “Niñobamba North Zone” and the “Niñobamba South Zone,” exhibited good continuity, substantial widths at surface and strike extents of 400+ meters as outlined by the results of the 17 trenches completed in the 2012 program. Mineralization demonstrates the potential for an outcropping, bulk-tonnage, and disseminated-silver/gold resource. Surface trenches were cut perpendicular to the mineralized zones and highlights of the trench assay results from the “Niñobamba North Zone” include; 56 metres of 1.03 g/t Au and 98.9 g/t silver in trench TR-01; 21 metres of 121 g/t Ag in trench TR-04; and 108 metres of 62.4 g/t Ag in trench TR-05. Highlights of the trench assay results from the “Niñobamba South Zone” include; 42 metres of 131 g/t Ag in trench TR-02; 29 metres of 119.3 g/t Ag in TR-03; and 23 metres of 92...