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Rio Silver Receives “Full Blown” Mining Permit For Palta Dorada In Peru

According to Chris Verrico, CEO of Rio Silver, the Canadian mining company with claims in Peru has received a full blown mining permit.

“By next quarter, we will have a full blown mining permit for Palta Dorada,” Chris Verrico told The GoldSilverBitcoin Show. “We nursed that along through the small mines regime. That’s how we managed to function so far. We have very smart people in Peru. The whole thing will parlay into a full blown mining permit this year. That’s significant. Anyone who has done work down there will appreciate the hard work it takes to get that done. The time is right. We’ve been looking at this for a very long time.”

Here’s what Rio Silver has to say about Palta Dorada:

The Palta Dorada Au-Ag-Cu Property is located in the Ancash Mining Department in Northern Peru and covers an area of approximately 1200 hectares. Infrastructure is considered excellent…

Limited surface mapping and sampling has identified several oxide Au-Ag veins hosted in granodioritic rocks. The previous owner completed a number of workings allowing for access to several levels for exploration and bulk sampling. The main working is a 53 metre shaft where miners hoisted mineral to the surface. Seven chip samples have been taken from quartz veins containing sulphides in the shaft at various depths. Results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and 0.22% Cu to 4.94% Cu over an average width of 60 centimeters. The weighted average of the quartz-sulphide vein is 10.51 g/t Au, 329 g/t Ag and 1.71% Cu over the 60 centimeters. The mineralized ENE-WSW mesothermal vein exposed in this main working has been observed over an 800 metre strike length on surface. The oxide-sulphide transition occurs at approximately 25 metres below surface. Samples taken in the oxide zone returned up to 55 g/t Au.

What Chris discuss Palta Dorada: