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The Alto Ruri prospect was drill tested by Compañía de
Table 1: Assay results from diamond drill hole 001-97 at Alto Ruri.
Hole ID | Interval (m) | From (m) | To (m) | Au (g/t) |
001-97 | 131 | 0 | 131 | 2.55 |
including | 54 | 0 | 54 | 5.39 |
including | 10 | 10 | 20 | 11.96 |
including | 2.4 | 23.95 | 26.35 | 37.30 |
The
Table 2: Reported drill hole collar information (
Hole ID | East | North | Elevation | Azimuth | Dip | Length |
001-97 | 216890 | 8938804 | 4215 | 45 | -70 | 158.1 |
003-Q | 213500 | 8939210 | 4340 | 325 | -60 | 350.75 |
The original source of the historical assay results in RC drill hole 003-Q is from a 2011 technical report prepared by Rio Marañon. The information suggests that porphyry Au-Cu-Mo mineralization may be present in this area. The rock chip and geochemical sample reject materials from 003-Q are no longer available for re-assaying purposes. For that reasons, the historical Au assay results from RC drill hole 003-Q have not been verified by the Company.
The Project is located just 15 km due south of the
Exploration Manager,
Additionally, as GlobeTrotters is the beneficial owner of more than 10% of Forte’s outstanding shares, it is a “related party” to the Company within the meaning of Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As such, the acquisition of the Alto Ruri prospect and the Cerro Quillo prospect constitutes a "related party transaction" within the meaning of MI 61-101.
The Company has relied on exemptions from formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction does not constitute more than the 25% of the Company’s market capitalization.
QUALIFIED PERSON and NI 43-101 DISCLOSURE
REFERENCE TO HISTORICAL DATA
- The data disclosed in this news release is related to historical drilling results. Forte has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Forte considers these historical drill results relevant as the Company considers this data to be a significant indication of the exploration potential of the Alto Ruri and
Cerro Quillo prospects. Any future exploration work by the Company's will include the verification of the historical data through drilling. Rio Marañon supervised the historical geochemical sampling of portions of the drill core from the eight (8) diamond drill holes completed by Buenaventura at Alto Ruri. The core was logged and sampled by Rio Marañon at a secure storage facility located 27 km to the southeast ofLima , Perú where the core is currently stored. The individual core samples collected for analysis ranged in length from 0.5 m to 10.20 m averaging of 1.94 m and where previously sampled by Buenaventura, the core was quarter cut using a rotary diamond blade saw. The samples were then sealed at the storage facility and transported to ALS Peru S.A.C. (“ALS”) an independent analytical laboratory inLima . ALS analyzed the samples by fire assay on a 30-gram sample with an AAS finish (Au-AA23). Where the Au-AA23 analysis returned greater than 10 ppm Au, a 30-gram split was reanalysed by fire assay fusion with a gravimetric finish (Au-GRA21). In addition to ALS laboratory protocols, Rio Marañon employed an internal QA/QC program that included the insertion of reference standards (source unknown) on site and is not aware of any drilling, sampling, recovery, or other factors that could have materially affected the accuracy or reliability of the data reported. The Qualified Person has reviewed the technical data and the original assay certificate provided by ALS and has verified these results.
ABOUT FORTE MINERALS CORP
On behalf of
(signed) “Patrick Elliott”
Chief Executive Officer
For further information, please contact:
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management’s discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future..
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Contact Details
+1 604-983-8847
info@forteminerals.com
Company Website
https://forteminerals.com/
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