Fidelity Minerals Provides Update on Las Huaquillas Project
Fidelity pauses Las Huaquillas operations due to a security incident, though permits remain intact and surface damage is replaceable.
Fidelity Minerals Corp. reported a security incident at its Las Huaquillas gold-copper project in northern Peru on September 28, 2026. Operations Manager Manuel Delfin sustained injuries and is currently recovering.
The company confirmed that all permits and authorizations remain valid and underground workings were not damaged. Surface facility damage is limited to replaceable vehicles and equipment. Management recommends resuming exploration and sampling activities as soon as practicable, contingent on implementing enhanced security arrangements. The company is cooperating with Peruvian authorities and has scheduled meetings with government officials to address security measures.
Fidelity Minerals Corp. (FMN) experienced a short-term operational pause following an incident that did not materially damage the project’s long-term exploration thesis. Permits remain valid and the core underground infrastructure is intact, preserving the path toward the targeted NI 43-101 resource estimate. The financial impact is limited to replaceable surface assets, which management characterizes as easy to replace.
The company recently closed a $1 million upsize of its private placement in August 2026, providing sufficient working capital to absorb minor operational disruptions and continue exploration. While the news is negative in the immediate term due to the injury and operational delay, it is routine for mining operations in the region and does not alter the fundamental value proposition.
Fidelity Minerals Corp. is a pre-revenue junior explorer focused on the Las Huaquillas gold-copper project in northern Peru. The company holds a 44.5% interest with a right to earn up to 50%. Las Huaquillas is a brownfield project featuring historical underground workings, including 1.2 km of development across three levels, and multiple deposit types, including epithermal gold-silver and porphyry copper systems. Historical resources indicate 446,000 oz of gold and 5.3 million oz of silver across 6.57 million tonnes grading 2.12 g/t Au and 25.2 g/t Ag.
The company’s near-term objective is to confirm previous underground sampling results, conduct a 5,000m drilling program, and prepare a new NI 43-101 compliant mineral resource estimate. Fidelity Minerals Corp. also holds the Florina Greensand project in Australia, which is advancing toward commercialization.