CUAU - Forte Minerals acquires game-changing Altar Project in Peru - PDAC 2024
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Forte Minerals Corp (CSE:CUAU,OTCQB:FOMNF) CEO Patrick Elliot tells Proactive's Angela Harmantasthat the company, has made a landmark acquisition, solidifying itsposition in the Peruvian mining sector.
During PDAC 2024, Elliot revealed the strategic acquisition ofthe Altar Project, a gold exploration site adjacent to Barrick'srenowned Pierina mine. This move marks a culmination of 12 years ofdiligent efforts by Forte's project generator, Globetrotters,showcasing their prowess in navigating the competitive landscape andgovernmental negotiations to secure 100% control of thishigh-potential area.
Discovered inthe late '90s by Buena Ventura, the Altar Project's initialexplorations indicated significant gold deposits, with the firstdrilled hole yielding 131 metres of 2.55 grams of gold from thesurface. Such findings underscore the site's potential to host amajor sulfidation system akin to that exploited by Barrick for overtwo decades. Elliot's vision for Forte Minerals involvesleveraging Peru's underexplored terrains to uncover tier-oneassets, bolstered by a top-tier exploration and governanceteam.
The acquisition is not just an addition to Forte'sportfolio but a transformational deal set to expedite thecompany's mission in Peru. Elliot says the strategy involvesimmediate social engagement and commencement of the permittingprocess, reflecting a deep commitment to sustainable and cooperativecommunity relations. This approach, inspired by Barrick'slongstanding success in the region, aims to replicate such symbioticpartnerships.
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