Mantaro Precious Metals Corp. [MNTR-TSXV; MSLVF-OTCQB] reported positive results, including multiple high-grade silver and gold assays, from recent sampling at the San Jose silver property, located in Peru.
Highlights include surface rock chip assays for 140 samples that returned silver and gold grades. Eleven samples returned greater than 100 g/t silver, including 376 g/t silver. Seven samples returned greater than 1 g/t gold, including 6.44 g/t gold. The technical team has identified seven new veins during initial reconnaissance mapping at San Jose silver property
Field work at San Jose was designed as a first pass sampling program of the Utcas East and Utcas West targets. Reconnaissance mapping resulted in the identification of seven new veins – the two larger named Ponderosa and Peguycuta.
Dr. Chris Wilson, CEO, said, “I am extremely happy with the progress made given the short duration of the first field program. The discovery of seven new veins – within the more extensive framework of known veins – speaks to the exploration potential of the project. It is also extremely encouraging that many of the surface samples assayed above 3 oz/ton silver and 1 g/t gold – which are significantly anomalous given the extensively weathered and oxidized nature of vein outcrops.”
Mantaro is planning a more extensive field program for early 2022. The 100%-owned San Jose silver property is comprised of five mineral concessions totaling 3,300 hectares located 180 km north of Lima. The company anticipates that the San Jose silver property has an intermediate sulphidation epithermal deposit. These deposits are characterized by vertical mineralization over hundreds of metres and are usually high-grade in nature, which makes them attractive exploration targets.
From 2013 to 2018, a small scale underground mine was operation on the San Jose vein. An estimated 42,000 tonnes of material was extracted with reported silver grades between 15 to 20 oz/ton. Production exploited approximately 200 metres of the western margin of San Jose on four levels.
Mantaro Precious holds a diversified portfolio of gold and silver focused mineral properties in Bolivia and Peru. The company holds an option to acquire an 80% interest in the advanced Golden Hill property in the underexplored, orogenic Bolivia Shield, Bolivia.
The company also has an 100% interest in high-grade Santas Gloria Silver property as well as a 100% interest in the San Jose, La Purisima, Cerro Luque and Huaranay Properties (the Silver Properties) – all located in Peru.