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Mundoro Announces New Copper Project in Arizona with Vale
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Mundoro Capital Inc. (TSXV: MUN) ...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Announces New Copper Project in Arizona with ValeVancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) (\"Mundoro\" or the \"Company\") \"), is pleased to report the addition of a new project area, Picacho Project in Pinal County, Arizona, consisting of a combination of Mineral Exploration Permits from the Arizona State Land Department and claims from the Bureau of Land Management (\"BLM\"). The Picacho Project has been established as a result of the Strategic Alliance between Mundoro and Vale Canada Limited (\"Vale\").Picacho Property HighlightsThe Picacho Project is situated within the Laramide Porphyry Belt, a prolific region of porphyry copper deposits extending from northern Mexico through the southwestern US. The Project is surrounded by a cluster of known porphyry copper deposits including, the Resolution Deposit, the Miami-Inspiration District, Ray, Silver Bell, Lake Shore, Florence Copper, and others. Preliminary field reconnaissance by Mundoro conducted in 2022 identified porphyry style veining, alteration, and copper mineralization within Laramide aged intrusive rocks. Historic drilling in the area indicates the presence of disseminated copper mineralization characteristic of Laramide porphyry copper systems.The Picacho Project has an approved work program and budget to be sole-funded by Vale with Mundoro as the operator. The project will generate property payments, operator fees, and additional exploration potential for undercover copper porphyry systems in Arizona.Teo Dechev, CEO & President commented: \"With the addition of this new project in Arizona, Mundoro now has 10 active exploration programs in the portfolio. Mundoro's generative business continues to expand by generating properties that can attract partner-funded exploration and royalty creation, with the focus of building long-term value for all of Mundoro's shareholders. The Company continues to be focused on porphyry copper systems in both the Tethyan and Laramide Belt. The diversified nature of the portfolio gives shareholders multiple opportunities for a discovery in proven mining jurisdictions, while being led by a discovery-driven team.\"Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2408/167006_ca6afcdb445da...