Live News • Jul 01
Forte Minerals Receives $1.47 Million via Warrants to Fund Peru Exploration Plans Forte Minerals received C$1.47 million through the exercise of common share purchase warrants, with the funds earmarked to support exploration and permitting at its copper and gold projects in Peru.
The company highlighted a tight share structure and a concentrated shareholder base, which can matter for liquidity as well as for how future funding or project updates might affect existing holders.
Forte Minerals shares last traded at about C$1.15, with the stock down 5.7% year to date, so this treasury inflow arrives against a backdrop of recent price softness.
The key investor angle is that Forte Minerals has added non-dilutive cash from existing warrant holders rather than a discounted placement, which reduces immediate funding pressure but still leaves execution and project progress as the main swing factors. Announcement • Mar 28
Forte Minerals Corp Provides Updates on Alto Ruri and Pucarini Projects Forte Minerals Corp. announced that it is advancing community engagement and permitting at the Alto Ruri Project located approximately 15 kilometers from Barrick’s past producing Pierina Gold Mine. The Company’s focus is to secure a long-term community agreement to systematically explore the high-sulphidation epithermal gold system at Alto Ruri. This district-scale system includes a 2 km by 1.5 km advanced argillic alteration zone that has never been systematically tested with modern geophysics and drilling. Historical drilling at Alto Ruri by Compañía de Minas Buenaventura in 1997 (12-hole 2,254.5m), as reported in the Company’s news release from March 4, 2024, confirmed high-grade gold potential, including: Hole 001-97 which returned 131 metres of 2.55 g/t Au, including 54 metres of 5.39 g/t Au. Several high-resistivity CSAMT geophysical anomalies from historical geophysical data are also interpreted as potential untested gold-bearing vuggy silica alteration targets at depth. Forte also announces the completion of a five-hole, 1,530-metre exploration drill program at its 100%-owned Pucarini High-Sulfidation Gold Project in southern Peru. Drilling confirmed the presence of the targeted hydrothermal system. Assay results returned anomalous gold, copper, and molybdenum values in one drill hole, with no significant mineralization intersected in the remaining four holes. Equipment has been demobilized, and environmental remediation will be completed. 
