Rio Silver Completes Agreement with Local Community at Jorimina Project, Peru

Rio Silver Completes Agreement with Local Community at Jorimina Project, Peru

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) is pleased to announce it has finalized a surface access agreement ("the Agreement") with the local Community for a period of one year at the Company's Jorimina Project, an advanced goldsilver project near the city of Ayachucho in south central Peru.

A recently completed Environmental Impact Study and community workshops aided by the President and Council of the local community, represent the final steps of the drill permitting application process and allow for the initiation of activities at this highly prospective, bulk tonnage gold and silver target located at the Company's wholly owned, Jorimina, Gold / Silver Project.

Jorimina was previously a joint venture project of Newmont, one of the world's largest gold producers, that earned its interest from Southern Peru Copper by spending $US 7 million outlining that it was in fact a precious metals dominant deposit. Newmont performed extensive geophysical and geochemical exploration programs followed by a detailed metallurgical review as part of an internal preliminary economic analysis. This was based upon their initial diamond drilling campaign, which was a fence or row of widely spaced diamond core drilling holes, that transected the property. A planned follow up, resource defining, diamond drilling campaign was never realized due to a major market correction in 2012. The Company is in receipt of all the data generated and summarized in the 2012 Newmont report, which strongly recommended advancement of the project for which, upon a successful resource defining drill evaluation, could be capable of supporting a robust midsized mining operation.

Rio Silver expects receipt of the necessary drill permitting late in Q3, 2024, and is working with potential drill contractors to prepare to mobilize crews and equipment upon the receipt of the permits and minor property access upgrades.

Rio Silver's President, Chris Verrico, states" We are very pleased to have been able to advance Jorimina towards resource delineation, truly an exceptional milestone while we look forward to very strong precious metals pricing. Newmont had used a $1200/oz gold value at Jorimina in their preliminary economic analysis at Jorimina. It is an exciting entry point for future valuation gains! Rio Silver has a very successful track record of permitting successes and a very focused and experienced team that can deliver on our objectives. Our recent success with community engagement and permitting advances, may aid our ability to engage the community that is associated with the adjoining Ninobamba, high sulfidation, epithermal silver/gold deposit located just 6.5 kilometers east from Jorimina, under one continuous land holding and another opportunity for an accretive valuation increase for Rio Silver shareholders.

Rio Silver is a resource development company that has been selectively acquiring and advancing precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Both our Niñobamba and Jorimina area Au/Ag targets are suggestive of near surface, bulk mineable open pit targets.

We remain ever impressed and optimistic by the resilience and ingenuity of our host country as the Government continues to endorse supportive mining policies ensuring continued growth and opportunity throughout Peru.

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

"Chris"
Christopher Verrico

Director, President and Chief Executive Officer

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

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.

For further information:

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

RYO:CA
Rio Silver

Rio Silver Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Rio Silver

Rio Silver


Keep reading...Show less
Rio Silver Inc. Announces Option Agreement to Sell a 100% Interest in Niñobamba Advanced Gold Silver Project in Peru to African Energy Metals

Rio Silver Inc. Announces Option Agreement to Sell a 100% Interest in Niñobamba Advanced Gold Silver Project in Peru to African Energy Metals

Rio Silver Inc. (TSXV:RYO) ("Rio Silver") and African Energy Metals Inc. (NEX: CUCO.H; FSE: BC2; WKN: A3DEJG) ("African Energy Metals") jointly announce they have entered into an option agreement for African Energy Metals (the "Option Agreement") to earn an 100% undivided interest in the Niñobamba advanced gold silver project (the "Project") located in the Department of Ayacucho in South Central Peru.

Terms of the Option Agreement

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Completes Sale of Palta Dorada Ag-Au Property, Peru

Rio Silver Completes Sale of Palta Dorada Ag-Au Property, Peru

Rio Silver Inc. (TSXV:RYO) ("Rio Silver" or the "Company") is pleased to announce that the Company has received the balance of the $250,000 US cash required for the sale of its 50% interest in the Palta Dorada Au-Ag Property, from Peruvian Metals Corp. ("Peruvian"). Additional consideration for the sale has the Company retaining a 3% Net Smelter Royalty ("NSR" or "Royalty") on the property. Total payments from the NSR will be capped at $2 million US while the Company is guaranteed US $250,000 in minimum royalty payments over the next five years.

The royalty payments due have guaranteed minimum semi-annual payments of $25,000 US payable over a five year period, commencing December 2024. Cash flow generated from the Palta Dorada Royalty could potentially exceed the minimum semi-annual royalty payment amount, as Peruvian advances a bulk sampling campaign at Palta Dorada, expected to commence Q1 2025 and augmented by its proximity to Peruvian Metals' Aguila Norte Processing Plant.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Commences Baseline Environmental Studies

Rio Silver Commences Baseline Environmental Studies

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) is pleased to announce it has initiated an Environmental Impact Study, a component of the permitting application currently underway in support of a planned diamond drilling campaign, at the wholly owned Jorimina Gold Silver Project scheduled for Q3, 2024.

Ecosoul Environmental Impact Consultants, based in Ayacucho, South Central Peru, has been contracted by the Company to undertake a full suite of environmental baseline monitoring studies which includes preparation of the necessary submittals required by the General Directorate of Mining Environmental Affairs with the Ministry of Energy and Mines, Peru, in support of the permitting application.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Inc. Proposes to Extend Warrant Expiry Date

Rio Silver Inc. Proposes to Extend Warrant Expiry Date

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the "Agreement") with Dig Media Inc. dba Investing News Network ("INN"). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007.

INN will introduce the Company to INN's audience of educated, active investors. Using a variety of methods including an Enhanced Advertiser Profile, News Marketing, website and newsletter advertising and dedicated emails, INN will encourage its audience to engage directly with the Company to consider investing in the Company. INN does not provide investor relations or market-making services as defined by TSX Venture Exchange (the "TSXV") policies. The engagement is subject to acceptance by the TSXV.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Finalizing Access Agreements for Jorimina Property, Peru

Rio Silver Finalizing Access Agreements for Jorimina Property, Peru

Rio Silver or the "Company", TSX.V: RYO, is pleased to announce it is finalizing an access agreement with the local community for its 100% owned Jorimina project "Jormaina", Department of Ayacucho, Peru. This agreement facilitates a diamond drill program planned to commence later this year.

Jormina is located within the Niñobamba Project which covers an area of 4205 hectares. The Main Niñobamba zone is located 7 kilometres to east of Jormina where a significant Au-Ag high sulphidation is present. Joramina was extensively explored by Newmont Mining Corp. "Newmont" from 2009 to 2011. The Company acquired the area from Newmont in 2016 along with an extensive database including surface and drill results and reports from an exploration program encompassing four prospective precious metal targets. The exploration programs identified extensive alteration zones believed to also be part of an extensive high-sulphidation silver-gold system identified at the Company's adjacent Niñobamba zone.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver

Rio Silver Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×