Rio Silver Inc. (TSX-Venture:RYO) announces the acquisition of the Palta Dorada Au-Ag-Cu property. The property contains several high-grade gold-silver veins both oxide and sulphide that has been mined by artisanal methods.
RYO has also signed a Memorandum of Understanding with Peruvian Metals Corp to jointly explore the Palta Dorada Au-Ag-Cu Property by initially conducting a detailed sampling and mapping program along with a bulk sampling campaign and processing the mineral at Peruvian Metals' 80% owned Aguila Norte Processing Plant
The Palta Dorada Au-Ag-Cu Property is located in the Ancash Mining Department in Northern Peru and covers an area of approximately 1,200 hectares. The Property is accessible from the Plant by approximately 180 kms of mainly paved roadway.
The Memorandum establishes a joint effort to explore and develop the property. Any sales from metal concentrates produced from the bulk sampling activity and all operational expenses will be shared between companies.
Shares in RYO climbed half a cent, or 12.5%, to 4.5 cents, on volume of 905,000