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Fidelity Minerals defines four high priority gold prospects with multi-million-ounce potential at Las Brujas project

The Vancouver-based company is in the early stages of defining a number of potentially significant epithermal gold resources at its flagship project in Mexico

Fidelity Minerals Corp. - Fidelity Minerals defines four high priority gold prospects with multi-million-ounce potential at Las Brujas project
Fidelity has expanded its land holdings at Las Brujas to 5,000 hectares in total in recent weeks

Fidelity Minerals Corp (CVE:FMN) announced on Monday that it has delineated four high-priority gold prospects at its highly promising Las Brujas project in Peru.

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.

Shares in Toronto added 15.8% to C$0.11 each.

READ: Fidelity Minerals expands land holdings around its Las Brujas and Porphyritic copper projects in Peru

Fidelity has expanded its land holdings at Las Brujas to 5,000 hectares in total in recent weeks and comprises at least five prospect zones in which elevated gold anomalism have been identified.

The four largest zones are tabulated as follows:

The company said it is preparing for a more “comprehensive” field program consisting of geophysics and additional sampling to build on the “highly encouraging initial positive results.”

It added that it will continue to focus on its medium-term objectives including:

  • Cost-effectively delineate substantial gold, copper and silver resources from the existing project portfolio
  • Opportunistically expand the project portfolio, with accretive acquisitions
  • Define a more than one million-ounce gold resource within three years

More details about the company’s key projects can be found at its recent corporate presentation.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

 

Quick facts: Fidelity Minerals Corp.

Price: 0.115 CAD

TSX-V:FMN
Market: TSX-V
Market Cap: $5.65 m
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