RIO2 LIMITED, EXPLORATION UPDATE 2020-10-19

Rio2 Expanding Chilean Footprint With New Exploration Strategy

11:37AM ET on Monday Oct 19, 2020 by MT Newswires

11:37 AM EDT, 10/19/2020 (MT Newswires) -- Rio2 Limited (RIO.V) has initiated a new Chile-wide exploration strategy in order is to expand its footprint there. Rio2 is currently developing the Fenix Gold Project, in the Maricunga Gold Belt, Atacama Region, Chile.

The company 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.

A systematic program 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 program.

Enrique Garay, Senior Vice President - Geology of Rio2, stated, "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."

Garay will lead this exploration strategy and will be working with Ignacio Ramos as Exploration Manager - Chile. Ramos has 10 years of exploration experience in Chile. He has worked for Newcrest Mining, Barrick Chile, and AngloAmerican Chile