Peruvian Metals Achieves Record Throughput in 2019 at the Aguila Norte Processing Plant in Northern Peru
Peruvian Metals Achieves Record Throughput in 2019 at
the Aguila Norte Processing Plant in Northern Peru
Edmonton, Alberta--(Newsfile Corp. - January 6, 2020) -
Peruvian Metals Corp. (TSXV: PER)
("Peruvian Metals" or the
"Company") is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte
Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru. The Company achieved record throughput for 2019 by
processing 18,510 tonnes, resulting in a 380% increase in production compared to 2018.
During the fourth quarter of 2019, Peruvian Metals processed 4,496 tonnes of mineralized material, and the final three quarters
of 2019 averaged more than 60% of the Plant's capacity of 36,000 tonnes per year. More than 90% of the mineral processed in
2019 produced two concentrates.
During 2019, the Plant produced high grade quality concentrates for third parties in twenty-two mineral campaigns, or batches,
ranging from 232 metric tonnes to 1,750 metric tonnes. All but two of the batches were polymetallic. The Plant achieved excellent
recoveries by producing 4,091 metric tonnes of highly marketable Zinc concentrates averaging 52.4% Zn and 1,364 tonnes of
Lead-Silver concentrates averaging 52.9% Pb and 125 ounces Ag per tonne. Forty-six tonnes of Copper concentrate was also
produced by processing only one small batch of copper mineral. Concentrate ratios (amount of Mineral Processed: Tonnes of
Concentrates Produced) averaged 3.31 to 1, showing that the Plant is producing significant amounts of concentrates for clients.
Jeffrey Reeder, CEO of Peruvian Metals comments: "Processing during 2019 at the Company's Aguila Norte Plant achieved
record throughput levels, and we fully expect to improve that throughput in 2020. The Plant is producing quality concentrates and
the Company has established good relationships in Northern Peru, while continuously reviewing new opportunities. During 2020
the Company intends to continue processing mineralized material with a few select miners while also entering mineral purchase
and profit-sharing agreements with other miners. The Company will continue to focus on improving profit margins and plans to
divest of certain non-core assets during 2020."
The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Plant
with the ability to expand operations past the current 100 tonnes per day level.
Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation
or approved the scientific and technical disclosure contained in this news release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling
services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and
develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit
www.peruvianmetals.com
.
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "PER"
For additional information, contact:
Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "Forward-Looking Statements"
within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan",
"expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking
information. Such statements and information are based on assumptions, estimates, opinions and analysis made by
management in light of its experience, current conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks,
uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the
forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and
information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis
and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the
Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the
assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that
they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the
various factors which could cause actual results or events to differ materially from those expressed or implied in the forward
looking statements and forward-looking information.
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