Three New Low to High Sulphidation Projects
Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) ( Frankfurt : 2OA) has added three new exploration projects to its portfolio of gold prospects in Peru following a 4 month regional geological reconnaissance program to follow-up on recently awarded concessions that were staked through a remote sensing targeting program.
- Three new properties with large alteration signatures and coincident gold anomalies have been added to the Company's portfolio of exploration prospects.
- The NWC property (2,500 hectares) contains a 7 x 1 kilometre alteration anomaly with signatures consistent with an intermediate to high sulphidation hydrothermal system. Argillic, granular silica, silica-clay and alunite, silicification, hydrothermal breccia, chalcedonic silica and propylitic alteration are recognised from recent field work and are accompanied by anomalous silver, zinc, copper, bismuth and manganese encountered in rock samples collected along NW and NE trending structures which align with Arasi gold mine (11km to the south).
- The Pucarini North property contains a 1.4 x 1 kilometre alteration anomaly exhibiting characteristic of a high sulphidation hydrothermal system, including argillic, advanced argillic, granular and vuggy silica and propylitic alteration. Anomalous gold was encountered in 14 of 64 rock samples collected from the alteration system.
- The CRP014 property is a 2.5 x 1.6-kilometre alteration anomaly with alteration mineral assemblages indicative of a low to intermediate sulphidation hydrothermal system including argillic, silica-clay, and silica (FeOx, Py, CuOx) alteration mineralogy with hydrothermal brecciation. Rock samples returned anomalous Copper (up to 2.3%) with 40% of samples averaging 0.14% Copper.
Patrick Elliott , President and CEO of Forte Minerals comments "This is especially exciting for the Company as the remote sensing targeting program has proven to be consistently effective based on surface follow up results. Our systematic approach to regional exploration and new project generation is working and the Company is thrilled to have expanded the portfolio of prospects through this process. "
Pursuant to our press release on April 20 th , 2022 , an extensive regional mapping and sampling exploration program was launched and successfully executed to follow-up on 10 satellite targets in the district surrounding the Pucarini epithermal gold project. In late 2020, the Company staked 18 regional claims surrounding Pucarini, comprising 16,100 hectares. The area selection was guided by knowledge gained at Pucarini to search for expressions of similar hydrothermal alteration signatures recognized in ASTER satellite imagery as part of the Company's regional generative exploration program. Following the successful surface exploration programs at Pucarini that identified anomalous gold on surface, priority was placed on controlling additional prospective ground in the district. This involved initiating a regional exploration program with based on field sampling that included collection of 287 rock samples and 44 soil samples for multi-element analysis by ALS-Peru using their ME-ICP41 and Au-AA23 methods. Alteration and geological mapping were also completed on 20 claims that includes two more claims staked in July 2022 comprising a total of 18,100 hectares. Based on the exploration results, a total of six concessions covering 5,500 hectares over 3 separate prospects with favorable field geology, alteration and geochemistry of intermediate to high sulphidation epithermal gold systems were kept for future exploration work. Fourteen concessions were dropped due to low exploration potential.
Results from the regional exploration follow-up work undertaken by Forte geologists from April-September, 2022 revealed several hydrothermal alteration zones and returned anomalous gold on several concessions. A total of 3 remote sensing targets were given priority. One of these properties, named Pucarini North is immediately northwest and adjacent to Pucarini. The alteration zone at Pucarini North is extensive, pervasive and especially interesting as several rock chip samples returned anomalous gold. Additional geological and structural mapping combined with sampling (soils and rock geochemistry) is currently underway to understand the extent of mineralization and the relationship with Pucarini.
As a result of the regional follow-up sampling and mapping program, the geological team recommended retention of six concessions totalling 5,500 hectares, which have been ranked in order of interest. The six concessions are parcelled into three separate prospects: NWC, GRP014, and Pucarini North. All three prospects will require further investigation by geological mapping and sampling, and potentially geophysical work to better understand the extent of alteration and mineralization.
Demonstrating the remote sensing targets identified in the generative stage represent zones of alteration and mineralization confirmed by ground follow-up is especially encouraging to the Company. This has allowed expansion of the portfolio of prospects in the region and adds confidence that the exploration process adopted by the Company is effective.
Qualified Person and NI 43-101 Disclosure
Paul Johnston , P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott "
Chief Executive Officer
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 are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
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, including the effects of COVID-19. 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.
View original content to download multimedia: https://www.prnewswire.com/news-releases/pucarini-regional-follow-up-program-yields-301630078.html
SOURCE Forte Minerals Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/21/c8085.html