SAIDF - Progress Update for Las Brujas Gold Project
(TheNewswire)
Vancouver, BC – TheNewswire - June 15 th , 2021 – Fidelity Minerals Corp. (TSXV:FMN ) | ( FSE:S5GM ) | ( SSE:MNYC) (“ Fidelity Minerals ” or the “ Company ”) is pleased to provide an update regardingexploration of its 100% owned Las Brujas Gold Project in northernPeru.
The Company continues to make exploration progress atthe Las Brujas Gold project, where activities are focused on definingYanacocha style gold prospects. To date 1,223 samples have beencollected, with 493 samples having been collected since February 2,2021 within the Las Brujas Gold 2 and Tongod II Concessions. The focusof exploration efforts has been continued follow-up of 2020 surfacesample results that isolated a notable 50m by 100 m area comprising atectonic breccia rock that is gold anomalous. Notably a 5m true widthchannel sample (n=7) returned 2.8 g/t Au near the southern contactwith a porphyritic andesite unit.
Results for 433 samples recently collected have nowbeen received, including 36 samples displaying anomalous goldconcentrations ranging from 0.1 to 0.96 g/t Au. The most significantAu intersects during the 2021 campaign are 0.96 g/t Au over 1.3m, 0.45g/t Au over 3.5m and 0.41 g/t Au over 3.5m. Silver concentrationsare mostly below the detection limit with only one sample displaying aminor Ag enrichment of 9 g/t. The results of selected gold anomaloussamples are given in Table 1 whereas Figure 1 displays the locationand general results of the 2021 sampling campaign to date.
Table 1: Anomalous sample results from the Las BrujasGold 2 and Tongod II Concessions (Datum: WGS84-17s).
The gold mineralization is also characterized by copperconcentrations that vary from 29 to 647 ppm Cu. Lead and zincconcentrations reach up to 751 ppm Pb and 539 ppm Zn respectivelywithin the Au-enriched samples. Other non-Au-enriched sampleslocally display moderate base metal anomalies that reach up to 779 ppmCu, 3611 ppm Pb and 539 ppm Zn. Arsenic concentrations reach up to726 ppm As within the Au-enriched samples whereas the antimonyconcentrations reach up to 187 ppm Sb.
The highest Au concentrations to date are related tomoderately argillic-altered porphyritic dacitic rock displaying amottled or zebra-like texture formed by limonite in the rock matrix. The matrix also contains sericite and magnetite. The mineralizedzone identified in 2020 located approximately 800m to the northnorthwest is also characterized by a similar alteration texture. Figure 2 are photographs showing the rock and textures associatedwith sample L001101 which returned 0.96 g/t over 1.3m.
Figure 1: Las Brujas Gold 2 andTongod II Concessions geochemical samplelocation map with results.
Figure 2: Photographs of sampleL001101 which returned 0.96 g/t over 1.3m.
The company is continuing its geological mapping andsampling program heading north from the Las Brujas Gold 2 Concessionas access is negotiated with landowners. Future work may alsoinclude a drone airborne magnetic survey to finish covering the LasBrujas Gold 2 Concession and expanding it to the Las Brujas Gold andLas Brujas Gold 1 Concessions, and an Induced Polarization (IP) surveythat would help define the underground continuity of the goldmineralized zones observed on the concessions.
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 Fidelity Minerals.
Dean Pekeski
CEO, President and Director
Tel: +1.778.828.9724
Email: dean@fidelityminerals.com
For more information, please visit the corporatewebsite at http://www.fidelityminerals.com or contact:
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 NEWS RELEASE.
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.
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