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Sierra Metals Inc.
Summary
| Project: | Yauricocha | |
|---|---|---|
| Deposit: | Yauricocha | |
| Location: | Peru | |
| Commodities: | Silver-Copper-Lead-Zinc-Gold | |
| Date: | 8/11/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-8-2016: Sierra Metals Inc. announces a Resource Estimation report for its Yauricocha deposit at the Yauricocha project. Updated resources and reserves at project incl. Initial estimate for Esperanza zone. Toronto, ON – Aug 11, 2016 – Sierra Metals Inc. | |
| Resources: | (Reserve, P+P): 3.787Mt @ 61.1g/t Ag, 0.84% Cu, 1.15% Pb, 2.92% Zn, 0.62g/t Au at Yauricocha total | |
| CP/QP: | [Resources]: Matthew Hastings (SRK Consulting (US) Inc.) | |
| ABSTRACT: | Toronto, ON – Aug 11, 2016 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra Metals” or “the Company”) has updated its Mineral Reserve and Resources Estimates at the Company’s Yauricocha Mine, located in Yauyos Province, Peru. The Company is also pleased to provide a maiden Reserve and Resource Estimate for the recently discovered Esperanza Zone. The maiden Reserve and Resources Estimate at Esperanza is the result of a successful exploration drill program detailed in Press Releases dated January 15, 2016, May 13, 2016 and May 24, 2016 and it now represents a material proportion of the mine’s overall reserves and resources. A Technical Report is currently being prepared by SRK Consulting in accordance with NI 43- 101 and will be filed on SEDAR within 45 days of this news release. The recent update to the Yauricocha Resources and Reserves has highlighted some key differences between the 2015 Technical Report and the current (2016) resources and reserves estimates. Specifically, the incorporation of new exploration drilling, used lower commodity price assumptions, sampling, and face mapping information into the geologic interpretations and grade estimations which have resulted in a further refinement of the ore body. As commodity prices improve certain areas which have been excluded using lower metal prices could be included in future reserve and resource updates. It is managements view that the resulting resource and reserve estimates reflect the ongoing efforts by the company to achieve good value from the Yauricocha asset while focusing on quality over quantity given the current operating and metal price environment. | |
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