Kicks Off New Exploration Strategy
Rio2 Limited (TSXV: RIO) has initiated a new Chile-wide exploration strategy with plan to expand its footprint in the country in addition to the current development of its Fenix Gold Project, located in the Maricunga Gold Belt.
Senior Vice President – Geology, Enrique Garay, said oRio2’s new exploration strategy is to explore for precious metals deposits that have the potential to develop into economic mining operations.
He said 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.
Mr Garay said a systematic programme 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.
“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 Garay will lead this exploration strategy and is complementing the team with the appointment of 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 specialising in Au-Ag epithermal deposits and Au-Cu porphyries. During his career, Mr Ramos has worked for Newcrest Mining, Barrick Chile, and AngloAmerican Chile.
