Mantaro intends to undertake mapping and sampling of vein extensions within the main Santas Gloria concessions. Credit: CNW Group/Mantaro Silver Corp via PRNewswire.

Mantaro Silver has agreed to acquire four mineral concessions surrounding the high-grade Santas Gloria Silver Property in Peru for an undisclosed sum.

The concessions are contiguous with and/or in close proximity to Mantaro’s 100% owned Santas property.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Upon completion of the deal, the Santas Gloria Silver Property will have seven mineral concessions, covering a total area of 3,272ha.

According to the deal, Mantaro Silver will pay $50,000 and issue a total of 500,000 common shares of the company to the undisclosed third-party vendor.

The new concessions comprise a 200ha concession adjacent to the western portion of the Santas Gloria property, a 200ha eastern adjacent to the eastern portion of the Santas Gloria property, and a 1,772ha claim block to the north of the Santas Gloria property.

In a press statement, Mantaro Silver said: “The western and eastern extensions cover certain veins of the Tembladera and San Jorge Vein systems and the Rosaria veins that extend beyond the original concessions of the Santas Gloria Silver Property.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“As the Tembladera and San Jorge Vein systems previously returned high-grade silver surface and underground assays and will be a focus of the company’s upcoming drill program, the company believed it was essential to ensure it secured the neighbouring concessions that host known vein extensions.”

Additional mapping and sampling of vein extensions are planned to be carried out by the firm within the main Santas Gloria concessions, with plans to include recently acquired extensions, in the coming weeks.

Mantaro said that it plans to undertake an aggressive field geochemical and mapping programme to define areas of anomalous geochemistry, vein distribution and structural controls on mineralisation.