Rio Silver Inc. has acquired the Santa Rita polymetallic project in Peru for US$ 130,000, enhancing its portfolio and positioning itself in a prolific mineral district.

Target Information

Rio Silver Inc., a Canadian mining company, has announced the acquisition of the Santa Rita project, a polymetallic asset rich in silver, lead, and zinc located in Huancavelica, Peru. This acquisition, valued at US$ 130,000, was secured through a private auction, granting the company direct ownership without any encumbrances, subject only to the standard title confirmation process, which typically takes two to three months in the country.

The Santa Rita project encompasses an area of 570 hectares and is situated approximately 200 kilometers southeast of Lima, within one of the country’s most prolific mineral belts. It lies about 55 kilometers away from the María Norte project—currently the company's main focus—and 14 kilometers from the operational Bethania mine. The location is known for its long-lived underground operations and the presence of Carbonate Replacement Deposits (CRD), a type of mineralization where metal-rich fluids replace carbonate rocks, forming high-grade deposits of silver, lead, and zinc.

Industry Overview in Peru

Peru is recognized as one of the world's leading mining countries, hosting a wealth of valuable minerals. The country's rich mineral deposits have attracted significant foreign investmen