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Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA) is pleased to announce receipt of the Environmental Impact Statement (“DIA”) approval for its 100% owned Esperanza porphyry Cu-Mo project (“Esperanza”) located in the department of Arequipa, in Southern Perú. The Company is delighted to be awarded the DIA approval by the Peruvian Ministry of Energy and Mines (“MINEM”) after more than two years of environmental baseline studies, archeological assessments, social engagement, and government processing. The DIA is an extensive environmental authorization that enables the Company to drill up to 40 platforms over a 5-year timeline. The final drill permit will be delivered by MINEM upon completion of the prior consultation process (Consulta Previa) with the local indigenous communities.
Esperanza is an early-stage porphyry Cu-Mo prospect located in southern Perú, roughly 180 km northwest of Arequipa. The project consists of 4000 ha of mineral concessions 100% owned by Forte’s Peruvian subsidiary, Amaru Resources S.A.C. (“Amaru”). The prospect occurs within a magmatic arc composed of late Cretaceous to early Paleocene plutons traceable from Perú’s southern border to at least 200 km to the northwest of Arequipa. The Paleocene component of the magmatic arc defines the Southern Perú Copper Belt, known to host several giant porphyry Cu-Mo deposits, including Cerro Verde, Quellaveco, Cuajone and, Toquepala (Figure 1).
GlobeTrotters Resources Perú S.A.C. ('GlobeTrotters') initially identified the Esperanza porphyry as part of their regional generative exploration program, targeting porphyry Cu-Mo systems along the extension of the Paleocene magmatic arc, extending northwest from Cerro Verde. Geological mapping, outcrop geochemical sampling and geophysical surveys completed by GlobeTrotters outlined a large 2.8 x 1.7 km Cu-bearing potassic alteration zone partially exposed beneath the post-mineral volcanic cover (Figure 2). Debris from an eroded phyllic altered jarositic leached capping zone exposed along the base of the post-mineral volcanic cover (Figure 3) and geophysical data (Figure 4) support the presence of a partially buried, large, mineralized porphyry complex with potential for a supergene enrichment blanket and primary Cu sulphide mineralization currently untested by drilling.
Forte’s President and CEO Patrick Elliott comments, “This is an outstanding untested porphyry Cu-Mo project that shows all the indications of a large, well preserved, mineralized porphyry complex situated in one of the most fertile mining jurisdictions in South America. The DIA approval for this project as well as our Pucarini high sulphidation epithermal gold project (news release dated September 29th, 2023) are significant milestones and we are thrilled for the opportunity to maiden drill test these highly prospective targets.”
Forte’s Exploration Manager Manuel Montoya comments, “The Esperanza porphyry is interpreted to occur along the northwest extension of the Paleocene magmatic arc, which is known to host some of the largest porphyry Cu-Mo deposits in Perú including Cerro Verde, Quellaveco, Cuajone, and Toquepala. Esperanza has a similar large hydrothermal alteration footprint and exhibits the scale and geological features needed for a Tier-1 discovery.”
ESG and Sustainability
Forte's extensive experience in Perú gives us a unique understanding of the country's environmental and cultural landscape, distinguishing us from competitors. The Company collaborates with an environmental consultancy, complemented by our in-house social engagement team, to ensure our exploration, permitting, and community engagement practices meet compliance standards and foster positive, mutually beneficial relationships with local communities.
Our recent partnership with Social Suite, a leading ESG software tailored for Junior Exploration and Mining companies, revolutionizes how we manage data and enhance our ESG reporting. This step forward is crucial in advancing transparency, strengthening stakeholder communication, and amplifying our impact on investors.
Adding Mike Carter as our Lead Energy Advisor is a strategic move to bolster our ESG initiatives. His extensive experience will be invaluable in aligning Forte's community-centric projects with international standards and local community expectations.
While our primary focus is discovering and exploring new Cu and Au deposits, Forte is equally committed to setting new benchmarks in ESG and sustainability within the junior exploration and mining industry.
About Esperanza
Esperanza is a 100% owned 4000 ha porphyry Cu-Mo project located along the northwestern extension of the Southern Perú Copper Belt. The Paleocene magmatic arc is endowed with some of the world’s largest copper deposits. Existing porphyry Cu mines, and recent discoveries make this a highly prospective region of Perú for Cu exploration, discovery, and future mine development.
Esperanza consists of a large porphyry Cu-Mo system measuring 4.2 x 3.1 km in area and partially buried under Miocene post-mineral volcanic cover. The center of the porphyry system consists of a 2.8 x 1.7 km potassic alteration zone that is poorly exposed and inferred from the interpretation of existing geological, geochemical, and geophysical data. Geological mapping and sampling along the edge of the post-mineral cover outline Cu-bearing vein patterns typical of the potassic alteration. Exposures of debris from an eroded phyllic altered jarositic leached capping zone mapped at the base of the post-mineral cover also suggest the potential for supergene enrichment. This, in conjunction with the geophysical data, supports the presence of a large, mineralized porphyry complex buried beneath post-mineral volcanic cover, which is highly prospective for a supergene enrichment blanket and primary Cu mineralization which remains untested by drilling.
Qualified Person and NI 43-101 Disclosure
Richard Osmond, P.Geo., is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
About Forte Minerals Corp.
Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically situating early-stage and drill-ready targets alongside a historically discovered and drilled porphyry system for Cu and Au resource development. Notwithstanding its resource focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities.
On behalf of FORTE MINERALS CORP.
(signed) “Patrick Elliott”
Chief Executive Officer
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management’s discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future..
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
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Contact Details
Forte Minerals Corp.
Patrick Elliott, President & CEO
+1 604-983-8847
Company Website
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