Forte Minerals Acquires the Alto Ruri Epithermal Gold Prospect Near Barrick's Pierina Mine in Central Perú

Forte Minerals Acquires the Alto Ruri Epithermal Gold Prospect Near Barrick's Pierina Mine in Central Perú

 

Historical Drilling Returned 131 Metres Of 2.55 g/t Gold

 

Forte Minerals Corp. ("Forte" or the "Company") (CSE:CUAU)(OTCQB:FOMNF)(Frankfurt:2OA), has finalized the acquisition of the Alto Ruri high sulphidation epithermal gold ("Au") prospect and the Cerro Quillo porphyry Au-copper ("Cu")-molybdenum ("Mo") prospect from its strategic partner Globetrotters Resource Group Inc. ("GlobeTrotters"). Both are situated on a contiguous 4700 ha block of concessions that were initially acquired by Globetrotters from Compañía Minera Ares S.A.C. ("Ares") in exchange for a 1.0% NSR royalty interest. These concessions were transferred to Forte's Peruvian subsidiary, Cordillera Resources Perú S.A.C., in exchange for a one-time cash payment of US$25,000

 

The Alto Ruri prospect was drill tested by Compañía de Minas Buenaventura ("Buenaventura") in 1997 who completed a two-stage, 12-hole drill program that included eight (8) NQ core and a four (4) reverse circulation ("RC") drill holes totalling 2254.5 m. GlobeTrotters' then subsidiary Rio Marañon Minerals S.A.C. ("Rio Marañon") re-analysed portions of the core from the eight (8) diamond drill holes in 2011 with hole 001-97 returning significant Au values averaging 2.55 g/t Au over 131 m starting from surface, including 54 m of 5.39 g/t Au1 (Tables 1 and 2). The Au mineralization is associated with the vuggy silica replacement of quartz-clay altered volcanoclastic rocks typical of high sulphidation epithermal Au alteration (Figure 2) but true widths are unknown.

 

Table 1: Assay results from diamond drill hole 001-97 at Alto Ruri.

 
 
                         
Hole IDInterval (m)From (m)To (m)Au (g/t)
001-9713101312.55
including540545.39
including10102011.96
including2.423.9526.3537.30
 
 

The Cerro Quillo prospect was drill tested by Anglo American Exploration Perú S.A. in 2004 who completed a nine (9) hole RC drill program for a total of 2684.90 m. The holes were drilled in the vicinity of the Cerro Quillo Porphyry Complex located three (3) km to the west of Alto Ruri. The historical assay results from hole 003-Q returning 200 m of 0.49 g/t Au, 0.09% Cu, and 0.007% Mo but true widths are unknown (Table 2). The Cerro Quillo Porphyry Complex is a series of mineralized diorite porphyry dikes intruding Miocene aged intermediate to felsic volcanic and volcanoclastic rocks. The system is potassic altered with secondary biotite alteration, A-type and B-type veins, and local magnetite stringers overprinted by a larger 2.5 km x 1.5 km phyllic-argillic alteration zone comprised of pervasive sericite-clay alteration, D-type veins and locally disseminated tourmaline.

 

Table 2: Reported drill hole collar information (WGS84 Zone 18S).

 
 
                     

Hole ID

East

North

Elevation

Azimuth

Dip

Length

001-97

216890

8938804

4215

45

-70

158.1

003-Q

213500

8939210

4340

325

-60

350.75

 
 

The original source of the historical assay results in RC drill hole 003-Q is from a 2011 technical report prepared by Rio Marañon. The information suggests that porphyry Au-Cu-Mo mineralization may be present in this area. The rock chip and geochemical sample reject materials from 003-Q are no longer available for re-assaying purposes. For that reasons, the historical Au assay results from RC drill hole 003-Q have not been verified by the Company.

 

The Project is located just 15 km due south of the Pierina Au Mine ("Pierina") owned by Barrick Gold Corp in central Perú which has produced over 8 million ounces ("Oz") of Au since commercial production in 1999 (Figure 1). As with Pierina, these prospects are situated along the Cordillera Negra and associated with Miocene aged volcanic and volcanoclastic rocks forming part of the Tertiary Volcanic Arc which is known to host several large Miocene aged epithermal Au deposits including Newmont's (Minas Buenaventura-Sumitomo) Yanacocha and Minas Congas deposits as well as several large Miocene aged porphyry Cu-Mo-(+Au) deposits including Chinalco's Toromocho, Southern Copper's Michiquillay and Rio Tinto's (First Quantum Minerals) La Granja deposits.

 
Figure 1: Location map showing the Alto Ruri concessions relative to Barrick Gold's Pierina gold mine.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Patrick Elliott, President, and CEO, remarked, "This acquisition is a strategic win for Forte, thanks to the decade-long persistence and determination of our partner, Globetrotters, in securing these prospects. Both lie in the highly prospective Tertiary Volcanic Arc of north-central Peru. This region actively hosts some of South America's largest epithermal Au and porphyry Cu-Mo-Au deposits. Adding these assets to our portfolio enhances our copper and gold asset base. It significantly mitigates the risks associated with the early stages of exploration and discovery in a premier mining jurisdiction."

 

Exploration Manager, Manuel Montoya comments, "Both the Alto Ruri and Cerro Quillo prospects exhibit large zones of intense hydrothermal alteration and mineralization similar to other large Miocene aged epithermal Au and porphyry Cu-Mo-Au deposits that occur in this prolific mineral belt. The results from the historical drilling on both prospects were very encouraging with significant Au values returned over sizeable widths. We are excited to hopefully continue advancing this project with further drilling."

 

Additionally, as GlobeTrotters is the beneficial owner of more than 10% of Forte's outstanding shares, it is a "related party" to the Company within the meaning of Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As such, the acquisition of the Alto Ruri prospect and the Cerro Quillo prospect constitutes a "related party transaction" within the meaning of MI 61-101.

 

The Company has relied on exemptions from formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction does not constitute more than the 25% of the Company's market capitalization.

 

Qualified Person and NI 43-101 Disclosure

 

Richard Osmond, P.Geo., is the Company's Qualified Person ("Qualified Person") as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

 

REFERENCE TO HISTORICAL DATA

 

The data disclosed in this news release is related to historical drilling results. Forte has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Forte considers these historical drill results relevant as the Company considers this data to be a significant indication of the exploration potential of the Alto Ruri and Cerro Quillo prospects. Any future exploration work by the Company's will include the verification of the historical data through drilling. Rio Marañon supervised the historical geochemical sampling of portions of the drill core from the eight (8) diamond drill holes completed by Buenaventura at Alto Ruri. The core was logged and sampled by Rio Marañon at a secure storage facility located 27 km to the southeast of Lima, Perú where the core is currently stored. The individual core samples collected for analysis ranged in length from 0.5 m to 10.20 m averaging of 1.94 m and where previously sampled by Buenaventura, the core was quarter cut using a rotary diamond blade saw. The samples were then sealed at the storage facility and transported to ALS Peru S.A.C. ("ALS") an independent analytical laboratory in Lima. ALS analyzed the samples by fire assay on a 30-gram sample with an AAS finish (Au-AA23). Where the Au-AA23 analysis returned greater than 10 ppm Au, a 30-gram split was reanalysed by fire assay fusion with a gravimetric finish (Au-GRA21). In addition to ALS laboratory protocols, Rio Marañon employed an internal QA/QC program that included the insertion of reference standards (source unknown) on site and is not aware of any drilling, sampling, recovery, or other factors that could have materially affected the accuracy or reliability of the data reported. The Qualified Person has reviewed the technical data and the original assay certificate provided by ALS and has verified these results.

 
Figure 2: Drill core from Alto Ruri hole AR001 showing irregular vuggy silica replacement of advanced argillic altered volcanoclastic rock.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Figure 3: Dense A-vein stockwork within a potassic altered dacitic tuff At the Cerro Quillo Porphyry Au-Cu-Mo Prospect.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Figure 4: A type B-vein with disseminated molybdenite crosscutting a dacite pyroclastic tuff at the Cerro Quillo Porphyry Au-Cu-Mo Prospect.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

ABOUT Forte Minerals CORP.

 

Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically situating early-stage and drill-ready targets alongside a historically discovered and drilled porphyry system for Cu and Au resource development. Notwithstanding its resource focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities.

 

On behalf of Forte Minerals CORP.

 

(signed) "Patrick Elliott"
Chief Executive Officer

 

For further information, please contact:

 

Forte Minerals Corp.
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com

 

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future..

 

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

 

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE: Forte Minerals Corp

 
 

View the original press release on accesswire.com

News Provided by ACCESSWIRE via QuoteMedia

CUAU:CC
Forte Minerals

Forte Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Forte Minerals (CSE: CUAU)

Forte Minerals

Keep reading...Show less

Developing a portfolio of high-quality copper and gold assets in Peru

Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

 

"Not for distribution to United States newswire services or for dissemination in the United States."

 

Forte Minerals Corp . ( " Forte " or the " Company " ) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ), a copper-gold exploration company focused on Peru, has successfully closed its oversubscribed non-brokered private placement, raising gross proceeds of C$2,690,000.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Forte Minerals Announces Private Placement of up to C$2.4 Million

Forte Minerals Announces Private Placement of up to C$2.4 Million

 

"Not for distribution to United States newswire services or for dissemination in the United States."

 

Forte Minerals Corp . ( " Forte " or the " Company " ) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ), intends to complete a non-brokered private placement (the "Offering") to raise up to C$2,400,000 for drilling and exploration programs on the Company's Peruvian projects and for general working capital, all as further outlined below.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Forte Minerals Engages Trion Communications GmbH for European Investor Awareness

Forte Minerals Engages Trion Communications GmbH for European Investor Awareness

 

Forte Minerals Corp. ("Forte" or the "Company") ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce its engagement of Trion Communications GmbH ("Trion") to provide investor relations and communication services in the German-speaking markets effective April 1, 2025 in accordance with Canadian Securities Exchange ("CSE") policies.

 

Trion Communications GmbH will support Forte in enhancing visibility among investors in Germany, Austria, and Switzerland. Their role includes distributing company news, translating shareholder communications, coordinating editorial placements in German financial publications, and fielding investor inquiries via multiple channels.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Forte Minerals Provides Update on Planned Drill Program at Pucarini High-Sulfidation Gold Project

Forte Minerals Provides Update on Planned Drill Program at Pucarini High-Sulfidation Gold Project

 

Forte Minerals Corp. ("Forte" or the "Company") ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to provide an update on its planned 1,500-metre diamond drill program at its 100%-owned Pucarini Gold Project ("Pucarini" or the "Project") located in the Southern Peru Miocene High-Sulfidation Epithermal Gold Belt. The program is set to commence towards the end of Q2 2025 with preparations currently underway.

 

 Figure 1 – High Sulphidation Epithermal Gold Targets from Gold Geochemistry and Surface Alteration Geology.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Forte Minerals to Present at the Swiss Mining Institute Investment Conference

Forte Minerals to Present at the Swiss Mining Institute Investment Conference

 

Forte Minerals Corp. ("Forte" or the "Company") ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce that President and CEO Patrick Elliott will be attending and presenting for the first time at the prestigious Swiss Mining Institute ( SMI ) Investment Conference, taking place March 18-19, 2025, in Zurich, Switzerland.

 

SMI, organized by Bally Capital Advisors SA, is one of Europe's premier mining investment events, known for bringing together over 1,000 leading Asset Managers, Portfolio Managers, Fund Managers, and other professional investors from around the world. This exclusive, invite-only event highlights over 100 selected mining companies and offers unparalleled insights into the global resource sector.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cygnus Metals Limited: Issue of Performance Rights

Cygnus Metals Limited: Issue of Performance Rights

 

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued an aggregate of 67,050,000 performance rights ("Performance Rights") to directors, and key employees and consultants, under the Company's Omnibus Equity Incentive Plan ("Plan").

 

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Forte Minerals

Forte Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×