SAIDF - December 2020 - Corporate Update
(TheNewswire)
Vancouver, BC – TheNeqwswire - December 22 nd , 2020 – Fidelity MineralsCorp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC)(“ FidelityMinerals ” or the “ Company ”) is pleased to provide an update regarding:
-
-Geophysical interpretation of the Greater LasHuaquillas (GLH) project
-Field program for the Las Brujas project
-Milestone payment for the Cerro Dorado project.
Greater Las HuaquillasProject : The Company has recently acquired andre-processed significant historical induced polarization and groundmagnetic data, with the newly re-processed geophysical datademonstrating remarkable correlation between the modelledchargeability and disseminated copper mineralization known from 1997historical drilling. Reprocessed ground magnetics suggests structuralcontrol of the San Antonio and Cementerio porphyry zones (refer recentpresentation, https://www.fidelityminerals.com/latest-presentation ). The qualitative correlation ofchargeability with historical drilling indicating coppermineralization is well illustrated in Figure 1 , whichsupports future application of deep IP for effective drilltargeting.
Figure 1: Historical mineralisationvs chargeability, Cementerio porphyry, Las Huaquillas
Section: 150m wide semi-transparentsection showing general concordance between historical copper in drillcore results and recently re-modelled chargeability. North viewthrough vertical section with dip azimuth on 045 o
Las Brujas Gold Project : The field team has demobilised from the Las Brujas project(Cajamarca Peru), and will remobilize to the Porphyritic Copperproject in early 2021. Since September the team has collected a totalof 730 samples at Las Brujas, of which 49 were field duplicates (6.7%QA/QC). The results for 545 samples (including the samples for whichinitial results were released on November 9 th , 2020) havebeen received from the laboratory, whilst results from 185 samplesremain to be received. Some 25% (n=134) of the received results arecharacterized by anomalous Au concentrations (>0.1 g/t). A moredetailed review of the program will be released once all the sampledata has been received.
Cerro Dorado MilestonePayment : The Company confirms receipt of theNovember 25 th , 2020 Milestone Payment from the Sale of its Cerro DoradoGold Mill and small Mine Complex, as reflected in the schedulereleased on October 13 th , 2020. The Company maintains 100% ownershipof Cerro Dorado until receipt of the final payment: US$730,000 remainsto be received to complete the US$1.43 million property and plantasset sale to the purchaser.
Annual Financial Statement filing: The Company has filed its annual auditedfinancial statements and MD&A (December 21 st , 2020); thesedocuments are available for review on SEDAR.
Director & CEO of FidelityMinerals, Mr. Ian Graham commented: “ The Companyoutlook for 2021 is compelling: we managed to advance our projectssignificantly in 2020, despite the COVID pandemic, and will continue our focus on our medium-termobjectives, including: to cost-effectively delineate substantial gold,copper and silver resources from the existing project portfolio, toopportunistically expand the project portfolio with accretiveacquisitions and to define a >1 million-ounce gold resource by2023. We would like to thank all our stakeholder for helping us growthe Company in 2020, and wish you all a happy, healthy and prosperous2021.”
Luc Pigeon B.Sc., M.Sc., P.Geo., a Qualified Person inthe context of National Instrument 43-101, has read and approved thetechnical content of this News Release.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is assembling and advancing aportfolio of high-quality mining assets in Peru through theimplementation of our Strategic Project Generator (SPG) model. Theproject generator model involves the identification and acquisition ofappraisal stage opportunities with near-term valuation catalysts,including potential for high-impact M&A. The company is backed byan experienced management team with diverse technical, market, andcommercial expertise and is supported by committed and sophisticatedinvestors focused on building long term value.
On behalf of the Board of FidelityMinerals;
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: igraham@fidelityminerals.com
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWSRELEASE.
Disclaimer & Forward-LookingStatements: This news releasecontains forward-looking statements. Forward-looking statements arestatements that relate to future events or future financialperformance. In some cases, you can identify forward-lookingstatements by the use of terminology such as “may”, “should”,“intend”, “expect”, “plan”, “anticipate”,“believe”, “estimate”, “project”, “predict”,“potential”, or “continue” or the negative of these terms orother comparable terminology. These statements speak only as of thedate of this news release. This news release may also containinferences to future oriented financial information (“FOFI”)within the meaning of applicable securities laws. The information inthis news release has been prepared by our management to provide acontext for the project acquisition and to provide the reader with anoutlook for our future activities and anticipated key projects and maynot be appropriate for other purposes. Forward-looking statements inthis announcement include, (but are not limited to) advancing certainkey project activities that could represent important milestones whichthe Company expects may represent material valuation catalysts, suchas the expectation that through the Strategic Project Generator modelFidelity Minerals is positioning itself to be a beneficiary in thisenvironment of increased appetite for prospective projects in thisregion. Further, forward-looking statements in this release includethat Fidelity Minerals Corp. is assembling a portfolio of high-qualitymining assets in Peru through the implementation of our StrategicProject Generator (SPG) model. The project generator model involvesthe identification and acquisition of appraisal stage opportunitieswith near-term valuation catalysts, including potential forhigh-impact M&A.
Copyright (c) 2020 TheNewswire - All rights reserved.