Rio2 Limited announces that it has initiated a new Chile-wide exploration strategy. This effort is to expand the Company’s footprint in Chile in addition to the current development of its Fenix Gold Project, located in the Maricunga Gold Belt, Atacama Region, Chile.
Rio2’s new exploration strategy is to explore for precious metals deposits that have the potential to develop into economic mining operations. This new initiative will leverage on Rio2’s mine development platform in the country.
Rio2 recently acquired 33,356 hectares of prospective exploration ground to consolidate its presence in the Atacama Region. Rio2 also has seven exploration prospects which remain to be systematically explored, covering 11,200 hectares. These prospects are Anacorire, Piedra Parada, Amarello, Toro, Laguna, Roca and Santa Rosa.
A systematic program of detailed geological mapping, geochemical rock/soil sampling and geophysics, will be initiated with the objective of defining drilling targets over the next 12 months. The Company is funded to undertake this 12-month program.
Enrique Garay, Senior Vice President – Geology of Rio2, stated, “The mineral endowment of the Atacama Region is significant and we believe that there is good potential to identify new precious metals deposits as Rio2 positions itself to be a key contributor in the discovery and development of economic precious metals projects in Chile.”
Mr. Enrique Garay will lead this exploration strategy and is complementing the team with the appointment of Mr. Ignacio Ramos as Exploration Manager – Chile. Mr. Ramos, who will be based in Copiapo, is a Graduate of the University of Chile with 10 years of exploration experience in Chile specializing in Au-Ag epithermal deposits and Au-Cu porphyries. During his career, Mr. Ramos has worked for Newcrest Mining, Barrick Chile, and AngloAmerican Chile.
ABOUT RIO2 LIMITED
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company focused in the Americas.