November 4, 2021
Fidelity Minerals Corp. (TSXV:FMN, BUY (S), Taylor Combaluzier) announced that Rial Minera SAC, which owns the Core Las Huaquillas (CLH) property in Peru, and for which Fidelity holds a 50% interest (read more), has engaged Ximena Mining Group (XMG) to permit an exploration drilling program on the project. XMG is a Peruvian environmental and technical engineering consultancy company with +18 years of experience, and 12 environmental management instruments approved over the last five years. XMG is expected to carry out the environmental monitoring FTA, water use permit, CIRA archaeological report, and all other activities to obtain the permit required to conduct drilling operations at the project. Fidelity’s planned drill program is anticipated to comprise +5,000m of diamond drilling and should culminate in an NI 43-101 report aimed at declaring inferred resources. We expect the receipt of drill permits in early-2022, and the NI 43-101 technical report to be published by Sep/2022, additionally it has set an exploration budget with its JV partners at US$3M for 2021 and 2022. Furthermore, Fidelity has paid US$450,000 of its US$500,000 acquisition cost of CLH with the remaining US$50,000 due on November 5, 2021. Read more
