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Peruvian Metals Corp. Signs Agreement to Sell Maria Norte to Rio Silver Inc.
Edmonton, Alberta--(Newsfile Corp. - March 26, 2025) - Peruvian Metals Corp. (TSXV: PER) (OTCQB:...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Corp. Signs Agreement to Sell Maria Norte to Rio Silver Inc.Edmonton, Alberta--(Newsfile Corp. - March 26, 2025) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (\"Peruvian Metals\" or the \"Company\") is pleased to announce that the Company has entered into an agreement with Rio Silver Inc. (TSXV: RYO) to sell for shares and cash an 100% interest in the Maria Norte Au-Ag-Zn-Pb Project (\"Maria Norte\" or the \"Property\") located in South-Central Peru. The Property is considered a non-core asset for Peruvian Metals but is highly prospective considering its proximity to several producing assets in the region. This disposition will allow the Company to focus on its intent to move into the Peruvian gold space in Northern Peru while indirectly benefiting in the exploration and development of Maria Norte. The Maria Norte property is in the historic Huachocolpa Mining District in south-central Peru. The Property consists of 4 concessions totaling 384 hectares covering an area that hosts a 600 metre wide mineralized corridor containing several high-grade Au-Ag-Pb-Zn veins. More than 10 veins have been observed on surface with the main trend between E-W and WNW. The lengths of the veins as currently mapped and observed on surface are 40 to 400 metres with variable widths from 0.20 to 4 metres.The Huachocolpa Mining District is host to several producing and past-producing vein-hosted polymetallic, base metal (silver-zinc-lead-copper, plus or minus gold) mines. In the mid 1950's, Compañia de Minas Buenaventura opened the Recuperada Mine and Mill (\"Recuperada\") located 14 kilometres SE of Maria Norte. A second plant called Concentrator de Minerales Huachocolpa SA (\"COMIHUASA\") located 8 kilometres SE of Maria Norte was constructed in 1960. This plant was established by state owned Banco Minero as a toll mill for all the small miners in the area. Production in the area ceased when Buenaventura closed its Recuperada operation in 2014.During 2015, interest in the Huachocolpa area was renewed and made polymetallic mining and milling the dominant formal economic activity in the district. The area has attracted two established companies that have purchased and made significant investments into the historic Recuperada and COMIHUASA mills. The combined capacity of the two mills is currently more than 2000 tonnes per da...