(29-07-2024) Rio Silver Inc. (TSX-V: RYO), Vancouver, an exploration company focused on silver projects mainly in Peru, announced that it has finalized a surface access agreement with the local community for a period of one year at its Jorimina gold-silver project, located near the city of Ayacucho. Jorimina is part of the Niñobamba project.
The company has just completed the environmental impact study and community workshops with the help of the President and the Council of the local community, as final steps in the drilling permit application process. This allowes the start of activities on the project, which is considered highly prospective for large-tonnage gold and silver.
Jorimina was previously managed by Newmont, a global leader in precious metals, which conducted extensive geophysical and geochemical exploration programs followed by a detailed metallurgical review as part of a preliminary internal economic analysis based on its initial diamond drilling campaign. This consisted of widely spaced diamond drill holes across the property, but a planned follow-up and resource definition drilling campaign was never carried out due to a major market correction in 2012.
Rio Silver received all the information from Newmont’s 2012 report, which recommended advancing the project, which, after a successful evaluation of resource-defining drilling, could be capable of supporting a solid mid-sized mining operation.