VANCOUVER, BC, May 2, 2023
/CNW/ - MANTARO PRECIOUS METALS CORP. (TSXV: MNTR)
(OTCQB: MSLVF) (FSE: 9TZ) (the "Company") is pleased to
announce it has entered into an agreement to acquire two highly
prospective licenses, being the East Trend and Media Sur
properties, in the San Ramon Greenstone belt in Bolivia.
Darren Hazelwood, Chief
Executive Officer of the Company states "Although our
focus continues to be the exploration and development of the Golden
Hill Property, we will continue to target accretive acquisitions in
the underexplored Bolivian Shield. Our team has reviewed a
number of projects in the region. Given the relative close
proximity of these properties to Golden Hill, we can optimize
exploration work across our portfolio of gold focused Bolivia properties. We believe these are
low cost, high upside assets for future exploration work."
The East Trend property is comprised of a total of 2,650
hectares and is located within the San Ramon gold producing
district. The property covers faulted greenstone terrain
which forms the eastern extension of the La Cruz Gold trend, a
NW-SE striking gold mineralized zone that has been mined via a
large number of small open pits by small-scale gold miners over 8
strike kilometres. Recent activity by small scale miners indicates
the gold mineralized trend continues to the southeast the East
Trend property. The property is located 20 kilometers east from the
Puqio Norte historical gold mine and the Company's Golden Hill
Property. East Trend is significantly underexplored, despite its
highly prospective geological setting, which is analogous to known
proximal gold mines and deposits.
The Media Sur property is comprised of a total of 4,750 hectares
and is centered on the underexplored southern arm of a highly gold
prospective metasedimentary - metavolcanic faulted greenstone belt.
The project is situated along the same broad structure as two large
orogenic gold systems, Medio Monte
and La Lupa. The latter is currently in production and is
operated by a local Bolivian company that producing a significant
amount of gold using basic gravity circuits. Recent artisanal
mining activity suggests that gold mineralization continues to
Media Sur.
Under the share purchase agreement with Jacob Garland, the Company will acquire all of
the shares of Minera Meranti Ltda ("Merenti"), a Bolivian company
that holds title to the East Trend and Media Sur licenses. In
consideration of Merenti, the Company has agreed to issue 2,000,000
common shares at a price of $0.05 per
share for a deemed value of $100,000. The transaction is subject to the
acceptance of the TSX Venture Exchange.
Qualified Person
Dr. Christopher Wilson, Ph. D.,
FAusIMM (CP), FSEG, a Qualified Person under National Instrument
43-101, has reviewed and approved the technical information
contained in this news release
About Mantaro Precious Metals
Corp.
Mantaro Precious Metals Corp. is a British Columbia company that holds a
diversified portfolio of gold and silver focused mineral properties
in Bolivia and Peru. The Company holds an option to acquire
up to an 80% interest in the advanced Golden Hill orogenic gold property ("Golden
Hill"), located in the underexplored Precambrian Shield,
Bolivia.
In Peru, the Company has a 100%
interest in the high-grade Santas Gloria silver property as well as
a 100% interest in each of the La Purisima, Cerro Luque and Huaranay properties.
Forward-Looking
Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. The Company cautions that all
forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. Such factors include,
among other things: risks and uncertainties relating to Company's
limited operating history and the need to comply with environmental
and governmental regulations. Accordingly, actual and future
events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, the Company undertakes no
obligation to publicly update or revise forward-looking
information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Mantaro Precious Metals Corp.