Peruvian Metals Acquires a New Silver-Lead- Zinc Project in Northern Peru
Peruvian Metals Acquires a New Silver-Lead-
Zinc Project in Northern Peru
Edmonton, Alberta--(Newsfile Corp. - November 10, 2021) -
Peruvian Metals Corp. (TSXV: PER)
(OTC Pink: DUVNF)
("Peruvian Metals" or the "Company") is pleased to announce that the Company
has acquired a new high-grade Silver-Lead-Zinc property (the "Property") by submitting a superior offer
in a closed bid auction at the Peruvian Public Registry of Mining. Other bidders for the area included
Newmont Peru S.R.L and Mitsui Mining & Smelting Co. The Company will designate a name for the
project once it has discussed its intentions with the local community.
The new property covers an area of approximately 94 hectares and includes several old mine workings.
The Property is road accessible from Lima by a well paved highway and by 50 kms of dirt road.
Historical reports from the area by Banco Minero del Peru note that a metallurgical sample was taken
from the workings that averaged 13.16 ounces silver per tonne ("oz/mt Ag") with 2.55% lead ("Pb") and
3.77% zinc ("Zn"). Results from the metallurgical test show that two concentrates can be produced with
the first averaging 63.03 % Pb, 6 % Zn and 317 oz/mt Ag. The second concentrate averaged 61.9% zinc
and 7.2% Lead. Please note that these results are historic and cannot be verified.
The area is underlain by Tertiary volcanics belonging to the prospective Calipuy formation. Company
geologists verified the potential of the area by mapping and sampling the workings and stockpiles left by
the previous operators. Ten samples were taken from old stockpiles in four different areas with values
ranging from 0.06 to 1.24 grams gold per ton (g/t Au), 0.71 to 47.82 oz/mt Ag, 0.34% to 9.25% Pb and
0.13% to 4.93% Zn averaging 0.49 g/t Au, 12.93 oz/mt Ag, 2.62% Pb and 1.68% Zn. It is important to
note and highly likely that much of the high grade extracted from the underground workings and
stockpiled have been shipped to toll mills for processing.
The Company plans to initiate community discussions and plans to start the permitting process to
reopen the underground workings for bulk sample extraction. The Property has good infrastructure but
will need to be improved. Another site visit by the Company will be necessary this year to take additional
samples for metallurgical tests and determine the condition of the underground adits for permitting
purposes.
The Company's Aguila Norte Processing Plant ("Aguila Norte") is accessible mainly by paved highway
from this new project. Aguila Norte has an environmental permit ("IGAC") from the Peruvian government
and is currently at capacity of 100 tonnes per day level. The Company expects to replace third party
mineral with polymetallic mineral from this new area and from its 50% own Palta Dorada Au-Ag-Cu
property. The Company can expand Aguila Norte's throughput beyond 100 tonnes per day once the
mineral supply exceeds the capacity.
Jeffrey Reeder, CEO of Peruvian Metals, comments: "We are very pleased to acquire this attractive
silver rich polymetallic property. This acquisition is in line with the Company's main goal to secure its own
feed for the Aguila Norte Processing Plant. This new addition to the Company's property portfolio yet
again demonstrates Peruvian Metals' ability to grow organically without entering expensive third-party
option deals."
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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