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Sierra Metals Inc.
Summary
| Project: | Bolivar Mine | |
|---|---|---|
| Deposit: | Bolivar Mine | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 7/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-7-2018: Sierra Metals Inc. announces a PEA report for its Bolivar Mine deposit at the Bolivar Mine project. PEA results incl. post-tax NPV of US $214M (8%), 11yr LOM at the project. ronto, ON – July 9, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NY | |
| Resources: | (Resource, Ind.): 13.267Mt @ 22.5g/t Au, 0.292g/t Au, 1.04% Cu | |
| CP/QP: | [Resources]: David Keller (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | ronto, ON – July 9, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report the results of a Preliminary Economic Assessment (“PEA”) regarding the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The PEA is based on technical inputs from various independent consulting groups, including; SRK, Redco, Anddes and Transmin. Based on the technical work from the various independent consultants, the PEA was compiled under National Instrument 43-101 standards by Mining Plus Peru SAC. The full technical report will be filed on SEDAR within 45 days of this news release. Igor Gonzales, President and CEO of Sierra Metals commented: “The Company is very encouraged by the results of this PEA as they support the plan to profitably develop and grow the Bolivar Mine in sustainable and staged steps from 3,000 TPD currently, to 3,600 TPD in Q1-2019, and to 5,000 TPD in mid-2020, based on consensus metal pricing. The Company is incorporating an aggressive Capex program into the PEA of US$96.0 million over the life of the mine, which includes exploration drilling to increase the mineral resources and convert the existing resources to reserves. Additionally, the PEA reflects an aggressive development program designed to open a mineable reserve at depth and on strike. The Opex reflects yearly production development, definition drilling programs, and other operational costs. The current study focuses on the current Mineral Resource reported in the 43-101 Technical Report filed on July 5, 2018 and does not include any drilling completed after Octobe | |
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