Dec 18, 2020 (Baystreet.ca via COMTEX) -- eResearch Corp. ( www.eresearch.com ) published a 19-page Company Research Report on Fidelity Minerals .
Fidelity Minerals Corp. is a junior mineral exploration company focused on precious metals and copper projects, and has four large scale exploration projects in northern Peru including the Las Brujas Gold Project (“Las Brujas”) and the Greater Las Huaquilla Gold & Base Metal Project (“GLH”).
Las Brujas is a prospective epithermal gold project located within the Yanacocha External Caldera region, and near Rio Tinto’s /zigman2/quotes/202627887/composite RIO -0.55% La Granja project (Inferred Resource of 4.32 billion tonnes at 0.51% copper) and Newmont’s Yanacocha mine complex (P&P Reserves of 6.95 million ounces gold). The Las Brujas project recently expanded to 8,400 hectares (over 20,000 acres) and chip sampling returned gold grades of up to 15.3 grams per tonne gold.
The GLH project spans 7,400 hectares (over 18,000 acres) and hosts a historical 6.57 million tonne deposit at 2.08 grams per tonne gold and 25.2 grams per tonne silver, for 0.4 million gold ounces and 5.3 million silver ounces.
Chris Thompson, Director of Equity Research of eResearch wrote, “Fidelity Minerals believes it has a distinct advantage in northern Peru as the company has developed proprietary regional data-sets which enable it to focus on project opportunities that favour the geology of the region.”
To allow Fidelity Minerals to focus on its exploration projects and to raise capital, in October 2019, the Company signed an agreement to sell the Cerro Dorado project, including the Rey Salomon Mine. Due to the Peruvian COVID-19 lockdown, Fidelity Minerals has allowed the purchaser to defer the scheduled payments and now expects the final payments by July 2021.
Upcoming catalysts for Fidelity Minerals include further test results from recent project exploration, possible joint-venture announcements, potential accretive transactions, and completing the sale of Cerro Dorado and reinvesting the net proceeds into exploration.
To read eResearch's 19-page Company Research Report on Fidelity Minerals, please visit eResearch's website ( www.eresearch.com ).
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