Revelo Resources Corp.
Revelo Completes Soil Geochemical Survey at Its Loro Gold-Silver JV Project and Plans Initial Drill Test
DGAP-News: Revelo Resources Corp. / Key word(s): Miscellaneous Vancouver, British Columbia–(Newsfile Corp. – March 14, 2018) – Revelo Resources Corp. (TSXV: RVL) (‘Revelo’ or the ‘Company’) is pleased to provide an update for the Loro gold-silver exploration program it is operating on behalf of its joint venture partner, a subsidiary of Hochschild Mining PLC (‘Hochschild’). The ~4,800-hectare Loro property is being explored for high-grade, gold-silver ‘bonanza’-style, low-sulphidation epithermal quartz veins, and is located along trend from one of the most important precious metals mining districts in Chile. Geological mapping has been completed, and results from a large soil/colluvium geochemical sampling grid define a series of geochemically anomalous zones and trends. A combination of results from geological mapping, geophysical surveying and geochemical grids has led to the decision with Hochschild to initiate a drilling program of at least 1,500m on the most prospective areas as soon as possible, and before the end of April. Key observations to date include:
To date, the following exploration work has been completed:
An initial drill test of key areas of at least 1,500m and up to 3,000m, including sub-cropping veins, based on geology together with geochemical and geophysical anomalies, is being planned with Hochschild and will start before the end of April. For information relating to previous technical advances at Loro please refer to the news releases on Revelo’s website dated April 14, 2016; November 15, 2016; July 6, 2017; October 5, 2017 and December 14, 2017. ABOUT LORO Loro is located along the highly productive Paleocene (or Central) Mineral Belt in northern Chile that contains several important gold, silver and copper mines and projects. The project is located along trend and just 25 km due south of the multi-million-ounce gold-silver district of El Peñon, owned and operated by Yamana Gold. The project also lies just a few kilometers east of Revelo’s important Las Pampas project, also prospective for low-sulphidation, epithermal precious metals veins. The 4,800-hectare Loro project area is located at relatively low altitudes (1,800m to 2,000m), has subdued topography, and is easily accessed, being located within a short driving distance from the Pan-American Highway along a well-maintained dirt road, some 2.0 hours’ drive from Antofagasta and 2.5 hours from Taltal. The Loro project is currently subject to an option, sale and royalty agreement with a subsidiary of Hochschild. Under the agreement, Revelo will operate Phases 1 and 2 of the exploration program (to end Year 3). Hochschild can earn a 100% interest in the Loro project over a maximum of five (5) years in exchange for a series of in-ground investments and/or drilling commitments totalling US$13 million and/or 30,000 metres, and a series of cash payments to Revelo totalling US$5.3 million. Further payments totalling US$15 million are due once the option has been exercised by Hochschild. Revelo will be the beneficiary of a 1% NSR royalty on any future production from the property. (See Company’s News Releases dated June 6, 2017and September 05, 2017). For further details of the Loro Project please refer to the Loro Project page on Revelo’s website (www.reveloresources.com). Dr. Demetrius Pohl, Ph.D., Certified Professional Geoscientist (CPG), an independent consultant, is the Company’s Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators and has approved the written disclosure of the technical information contained in this news release. ABOUT REVELO Revelo has interests in an outstanding portfolio of projects prospective for copper, gold and silver located along proven mineral belts in one of the world’s top mining jurisdictions — Chile. The Company has a combination of wholly-owned projects (available for option, JV or sale), option agreements, royalty interests (non-producing to date), and equity interests in mining and exploration companies. Revelo’s total exposure to mineral tenements in northern Chile, either wholly-owned or through royalty interests, is around 200,000 hectares. Revelo is a Canadian company and is listed on the TSX Venture Exchange (TSXV: RVL). For more information, please visit Revelo’s website at www.reveloresources.com. ON BEHALF OF THE BOARD ‘Michael Winn‘ Michael Winn, Chairman INVESTOR CONTACT Timothy J Beale | President & CEO Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING STATEMENT This news release contains certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’, ‘indicate’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
14.03.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Revelo Resources Corp. |
Canada | |
ISIN: | CA7613661031 |
End of News | DGAP News Service |