Forte Minerals acquires game-changing Altar Project in Peru - PDAC 2024
March 18, 2024 at 11:59 am
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Forte Minerals Corp (CSE:CUAU, OTCQB:FOMNF) CEO Patrick Elliot tells Proactive's Angela Harmantas that the company, has made a landmark acquisition, solidifying its position in the Peruvian mining sector.
During PDAC 2024, Elliot revealed the strategic acquisition of the Altar Project, a gold exploration site adjacent to Barrick's renowned Pierina mine. This move marks a culmination of 12 years of diligent efforts by Forte's project generator, Globetrotters, showcasing their prowess in navigating the competitive landscape and governmental negotiations to secure 100% control of this high-potential area.
Discovered in the late '90s by Buena Ventura, the Altar Project's initial explorations indicated significant gold deposits, with the first drilled hole yielding 131 metres of 2.55 grams of gold from the surface. Such findings underscore the site's potential to host a major sulfidation system akin to that exploited by Barrick for over two decades. Elliot's vision for Forte Minerals involves leveraging Peru's underexplored terrains to uncover tier-one assets, bolstered by a top-tier exploration and governance team.
The acquisition is not just an addition to Forte's portfolio but a transformational deal set to expedite the company's mission in Peru. Elliot says the strategy involves immediate social engagement and commencement of the permitting process, reflecting a deep commitment to sustainable and cooperative community relations. This approach, inspired by Barrick's longstanding success in the region, aims to replicate such symbiotic partnerships.
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Forte Minerals Corp. is a Canada-based junior exploration company. The Company with its subsidiaries is focused on copper and gold exploration in Peru. The Company holds mineral properties in Peru, including Esperanza Project, Pucarini Project and Don Gregorio. The Esperanza Project is located in the Paleocene belt of southern Peru. The project consists of 4000 hectares of mineral concessions in the Arequipa Region. The Pucarini Project is an early-stage high-sulfidation gold project located approximately 43 kilometers west-northwest of the city of Juliaca in the Department of Puno, Peru, which is approximately 1,000-hectare concession. The Don Gregorio Project has approximately 900 hectares (ha) of property under option by Forte Minerals from Candente Copper Corp. It also owns Alto Ruri high sulphidation epithermal gold (Au) prospect and the Cerro Quillo porphyry Au-copper (Cu)-molybdenum (Mo) prospect in Peru.