Fidelity Minerals Corp (CVE:FMN) said Wednesday that it had significantly increased its footprint at its two Peruvian projects.
The Vancouver-based company said that it was in the “early stages” of defining a number of potentially significant epithermal gold resources at its flagship Las Brujas project, following its recent confirmation of gold mineralization at three distinct zones on the property. Assays reported in June returned gold grades of 15.3 grams per ton (g/t), 1.6 g/t and 1.2 g/t gold.
Fidelity has expanded its land holdings at Las Brujas to 5,000 hectares in total in recent weeks, it said in a statement. The new areas include geochemical gold anomalies that extend from the recently identified zones of interest.
At the Porphyritic copper project, Fidelity said it had identified several “zones of interest” that could be part of exposed sections of a copper-molybdenum porphyry system. The firm recently applied for three new concessions totalling 2,800 hectares around the project.
Fidelity told shareholders that increasing the footprint across its projects is part of its objective to build strategic positions at key projects and enhance the prospectivity with near-term exploration.
According to the exploration company, a number of “credible parties” have expressed an interest in earning-in to its projects.
“Securing a substantial project footprint is a critical requirement in being able to secure the interest of larger parties,” the company said in a statement.
Fidelity hopes to define a substantial gold resource in its project portfolio within three years.
Also on Wednesday, the company said it granted just over 1.9 million stock options to certain directors, officers and consultants exercisable at C$0.105 for a five-year period.
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