- Forte Minerals is gearing up to acquire the Alto Ruri Prospect and the Cerro Quillo Prospect from its strategic partner Globetrotters Resource Group in Peru
- Both prospects are along a contiguous 4,700-hectare block of concessions that were first acquired by Globetrotters from Compania Minera Ares S.A.C
- The company stated it anticipates advancing the prospects with further drilling
- Shares of Forte Minerals are up 17.65 per cent to C$0.20 as of 12:04 pm ET
Forte Minerals (CSE:CUAU)is set to acquire the Alto Ruri Prospect and the Cerro Quillo Prospect from its strategic partner Globetrotters Resource Group in Peru.
The company stated in a news releases that both prospects are on a contiguous 4,700 hectare block of concessions previously acquired by Globetrotters from Compania Minera Ares S.A.C.
“Adding these assets to our portfolio enhances our copper and gold asset base. It significantly mitigates the risks associated with the early stages of exploration and discovery in a premier mining jurisdiction,” Patrick Elliott, CEO of Forte Minerals, said in a statement.
Both prospects are ideally located in the highly prospective Tertiary Volcanic Arc of north-central Peru, which is host to some of South America’s largest epithermal gold and porphyry copper-molybdenum-gold deposits.
According to the company, the Alto Ruri and Cerro Quillo prospects show large zones of intense hydrothermal alteration and mineralization that is similar to other large Miocene-aged epithermal gold and porphyry copper-molybdenum-gold deposits that occur in this mineral belt.
Historic drilling on the prospects returned significant gold values over sizeable widths. As such, Forte Minerals anticipates advancing the prospects with further drilling.
Forte Minerals is a junior exploration company with a portfolio of high-quality copper and gold assets in Peru.
Shares of Forte Minerals are up 17.65 per cent to C$0.20 as of 12:04 p.m. ET.
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