- Rio Silver (RYO) is reporting “very good” results from the latest exploration and sampling at its Palta Dorada gold-copper-silver project in Northern Peru
- One sample yielded 1,090 grams per tonne of gold and 643 grams per tonne of silver over 0.40 metres
- The Toronto-based mineral exploration company owns the project equally with Peruvian Metals Corp
- The company is continuing to advance underground development towards obtaining a bulk sample of the high-grade gold-silver-copper material
- Rio Silver is up 18.18 per cent, trading at $0.065 at 11:26 am ET
Rio Silver (RYO) is reporting “very good” results from the latest exploration and sampling at its Palta Dorada gold-copper-silver project in Northern Peru.
Results include one sample of 1,090 grams per tonne of gold and 643 grams per tonne of silver over 0.40 metres.
The Toronto-based mineral exploration company owns the project equally with Peruvian Metals Corp. Peruvian completed its earn-in requirement by investing USD $250,000 in the project.
Current development is focused on the San Juan Vein, exposed both in underground workings and outcrops over an 800-metre strike length.
High-grade mineralization occurs in quartz veins hosted in granodioritic rocks.
Initial work consists of the development of the main access tunnel located 876 metres above sea level. The main access drift is currently at 70 metres and in oxides and is projected to be in the higher-grade sulphide material soon.
The company is continuing to advance underground development towards obtaining a bulk sample of the high-grade gold-silver-copper material. The main drift is expected to intersect sulphide mineral soon. The extracted mineral from the property will be processed at its 80-per-cent owned, fully permitted Aguila Norte processing plant located in Northern Peru.
“We are pleased with the underground development at Palta Dorada. These high-grade values bode well for the potential we see at the project. Oxide gold material is currently being extracted and being stockpiled for sale. We expect to be in sulphides soon and will be shipping our first bulk material for processing at Peruvian’s nearby Aguila Norte Plant,” said Rio Silver Chief Executive Officer Chris Verrico.
Rio Silver is up 18.18 per cent, trading at $0.065 at 11:26 am ET.