Toronto, Ontario–(Newsfile Corp. – April 13, 2021) – Monarca Minerals, Inc. (TSXV: MMN) (“Monarca” or the “Company”) is pleased to announce the execution and ratification by a Mexican Notary Public of the surface rights agreement with Colonia on the San Jose Silver Project (“San Jose”) located near the USA border in Chihuahua, Mexico.
As the Company informed on the press release dated March 4, 2021, surface lands for the San Jose project area are partially covered by “Ejido” lands and “Colonia” lands (community or communal lands), therefore the Company is required to sign a surface rights agreement with both the Ejido and Colonia authorities to advance its environmental permit to proceed with its planned 5,000 meters drilling program.
Eight of the ten targets for the drilling program are located on Colonia, and with the execution of this surface land agreement with Colonia the Company is ready to apply for the environmental permit that will allow to drill on Colonia section. Simultaneously, Monarca will continue negotiations to sign the surface rights agreement with Ejido.
As part of the planning for the drilling program, the Company has been working with Matrix Geotechnologies, Ltd., a Canadian geophysics company that did the geophysics program in San Jose on 2018, and now is advising Monarca’s technical team to finalize the targets.
In the same line of preparation, we are please to inform that Monarca engaged Layne de México, SA de CV, a Mexican subsidiary of Layne’s Mineral Services Division as a contractor for the 5,000 meters drilling program.
Layne Mineral Services is one of the three largest providers of drilling services in the Americas, and its Mexican subsidiary has the equipment and technical team located in the neighbour state of Sonora, Mexico, offering a minimal impact on transportation of equipment and transfer of technical team to the site.
The Company expects to receive the environmental permit in a few weeks.
Qualified Person Statement
Michael R. Smith is the Qualified Person (QP) who has prepared and approved the scientific and technical information disclosed in this news release. Mr. Smith is a Registered Member (#04167376 – Geology) of the Society for Mining, Metallurgy & Exploration (SME) and the Executive Vice President, Exploration for Monarca Minerals Inc.
About Monarca Minerals Inc.
Monarca is a Canadian mining company listed on the TSX Venture Exchange (TSXV: MMN) and focused on the exploration and development of silver projects along a highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including an Inferred Mineral Resource of 19.8 million tonnes at 45.0 g/t Ag (28.7 million ounces of contained silver) at its Tejamen deposit in Durango, Mexico.
For further information, please contact:
Carlos Espinosa
President, CEO & Director
Monarca Minerals Inc.
E: [email protected]
Cautionary Note Regarding Forward-Looking Statements Forward-Looking Statements:
The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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