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Sierra Metals Inc.
Summary
| Project: | Yauricocha | |
|---|---|---|
| Deposit: | Yauricocha | |
| Location: | Peru | |
| Commodities: | Silver-Copper-Lead-Zinc-Gold | |
| Date: | 6/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-6-2018: Sierra Metals Inc. announces a PEA report for its Yauricocha deposit at the Yauricocha project. PEA results incl. post-tax NPV of US $393M (8%), 10 yr LOM at the project. Toronto, ON – June 27, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (N | |
| Resources: | (Resource, M+I): 13.2Mt @ 62.26g/t Ag, 0.65g/t Au, 1.52% Cu, 0.92% Pb, 2.79% Zn | |
| CP/QP: | [Overall Report]: Gordon Babcock, Americo Zunzunaga (Internal) | |
| ABSTRACT: | Toronto, ON – June 27, 2018 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE American: SMTS) (“Sierra Metals” or “the Company”) is pleased to report the results of the Preliminary Economic Assessment (‘PEA’) regarding the Company’s Yauricocha Mine, located in Alis district, Yauyos province, department of Lima, Peru. The PEA is based on technical inputs from various independent consulting groups including SRK, Redco, Ingenieria Carillo, Anddes, Tierra Group, Geoservice Engineers Based on the technical work from the various independent consultants, the PEA was complied under National Instrument 43-101 standards by Mining Plus Peru SAC. The full technical report will be filed within 45 days of this news release. Igor Gonzales, President and CEO of Sierra Metals commented: “Sierra Metals is planning to expand the Yauricocha mine through sustainable growth stages from its current 3,000 TPD, to 3,600 TPD in Q1 2019, and to 5,500 TPD in 2021. Engineering studies support the increased processing capacity at the Chumpe ore processing plant of up to 5,500 TPD. Management are very pleased and encouraged by the positive results of this PEA which support the profitable development and growth of the Yauricocha Mine. The expansion of our capacity is a natural step that follows mineral resources increases in recent years. The expansion adds to the value of our resources by accelerating its production timing and also adds to the potential value to future resource increases, which we expect to continue due to the on-going aggressive exploration campaign at the mine.” He concluded, “We are continuing with our strategy to increase shareholder value and grow the economic potential of the Company. Building upon a successful PEA recently announced for the expansion of the Cusi Mine, we are now adding another successful study for the expansion of the Yauricocha Mine, and a third PEA will follow shortly for our Bolivar Mine. This PEA follows a successful brownfield exploration program and a successful operational improvement program at the Yauricocha Mine, demonstrating returns on this well-spent capital. Building upon these successes, we are continuing to endeavour to maximize value and profitability through the implementation of automation, best practices and further potential throughput increases which will drive further growth and benefit all shareholders.” | |
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