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Sierra Metals Inc.
Summary
| Project: | Bolivar Mine | |
|---|---|---|
| Deposit: | Bolivar Mine | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 5/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-5-2018: Sierra Metals Inc. announces a Resource Estimation report for its Bolivar Mine deposit at the Bolivar Mine project. Updated mineral resource and ore reserve estimates at Bolivar Mine. Toronto, ON – May 22, 2018 – Sierra Metals Inc. (TSX: SMT) ( | |
| Resources: | (Reserve, P+P): 7.925Mt @ 18.9g/t Ag, 0.25g/t Au, 0.86% Cu | |
| CP/QP: | [Resources]: David Keller (SRK Consulting (US) Inc.) | |
| ABSTRACT: | Toronto, ON – May 22, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra Metals” or “the Company”) has updated its Mineral Reserve and Resource Estimate at the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The updated Mineral Reserve and Resource Estimate disclosed herein is the result of drilling programs completed between October 2016 and October 2017, totaling 28,972 meters, as well as production data of October 2017. Subsequent to the cut-off date of October 2017 the updated Reserve and Resource statement does not include approximately 22,000 meters of drilling with an aim to further expand the resources and reserves at the Bolivar mine. This information will be included in an updated Press Release to be issued shortly. A Technical Report prepared by SRK Consulting (U.S.) Inc. in accordance with NI 43-101 standards of disclosure has been completed and will be filed on SEDAR within 45 days of this news release. Igor Gonzales, President and CEO of Sierra Metals commented “Management are pleased with the updated reserve and resource report. The upward conversion of resources and an 83% increase in reserves which averages 19 g/t silver, 0.86% copper and 0.25 g/t gold or 1.14% CuEq** improves the mine life at Bolivar to more than seven years at the current throughput levels when compared to the previous estimate filed in April 2017. Drilling continues to take place at the Bolivar West, and Bolivar Northwest zones and will continue at the La Sidra area this year. A recently completed geophysical program utilizing Titan 24 techniques has targeted near-surface, coincident strong chargeability (IP) and resistivity anomalies in the Southwestern sector of the property near Bolivar West. We are currently drilling these targets using a diamond drilling program, and subsequent exploration programs are targeted to increase tonnage and grade at Bolivar.” Americo Zuzunaga, Vice President of Corporate Planning stated, “One year has passed since the filing of the previous technical report, and the Company is confident that with this review, as well as the inclusion of the ongoing drilling, we will continue to define additional mineral reserves and resources in a short time frame.” | |
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