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Sierra Metals Inc.
Summary
| Project: | Yauricocha | |
|---|---|---|
| Deposit: | Yauricocha | |
| Location: | Peru | |
| Commodities: | Silver-Copper-Lead-Zinc-Gold | |
| Date: | 12/19/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-12-2019: Sierra Metals Inc. announces a Resource Estimation report for its Yauricocha deposit at the Yauricocha project. Updated mineral resources and ore reserves. Toronto, ON – December 19, 2019 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERIC | |
| Resources: | (Reserve, P+P): 8.439Mt @ 46.49g/t Ag, 1.13% Cu, 0.78% Pb, 3.07% Zn, 0.50g/t Au | |
| CP/QP: | [Resources]: Andre Deiss (SRK Consulting) | |
| ABSTRACT: | Toronto, ON – December 19, 2019 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) has updated its Mineral Reserve and Mineral Resource Estimate at the Company’s Yauricocha Mine, located in Yauyos Province, Peru. The updated Mineral Reserve and Resource Estimate disclosed herein is the result of drilling programs completed between August 2017 and October 2019, 76,338 metres of drilling as well as production data up to October 2019. Subsequent to the cut-off date of October 31, 2019 the updated Resource and Reserve statement does include approximately 4,038 metres of drilling some of which is in the process of being drilled with an aim to further expand the resources and reserves at the Yauricocha mine. Additionally, it is important to note that the Company has updated the way it now measures the density of the ore per tonne from the previous Mineral Resource Estimate. Sierra Metals now uses a lower density factor in its Mineral Reserve and Resource Estimations of 3.48 tonnes per cubic meter versus 3.71 tonnes per cubic meter used in 2017. A lower density ratio includes increased data for Mineral Reserve and Resource classification as a result of the increased drilling; density is measured using a standard methodology for each rock and mineral type; resources and reserves are more consistent with the type of mineralization encountered; increased data minimizes any previous biases. A Technical Report is currently being prepared by SRK Consulting (Canada Inc.) and Sierra Metals Inc. in accordance with NI 43-101 standards of disclosure and will be filed on SEDAR and with the Securities Exchange Commission within 45 days of this news release. | |
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