Peruvian Metals Announces Gold Recoveries of 89% in Sulphides at Palta Dorada
Peruvian Metals Announces Gold Recoveries
of 89% in Sulphides at Palta Dorada
Edmonton, Alberta--(Newsfile Corp. - January 21, 2026) -
Peruvian Metals Corp - (TSX: PER) (OTC
Pink: DUVNF)
("Peruvian Metals" or the "Company") is pleased to announce updated metallurgical
results on both oxide and sulphide Au-Ag material on its 100% owned Palta Dorada Gold-Silver property
("Property") located in the Ancash department in Northern Peru. New metallurgical work on gold
recoveries in both the oxide and sulphide material shows recoveries exceeding 80%. The new
metallurgical work was conducted on the main San Juan vein where a rehabilitated historic 53-metre-
deep shaft ("shaft") provided good exposure to both the sulphides and oxides on this main mineralized
structure.
The Property covers an area of approximately 2,250 hectares. It is accessible from Peruvian Metals
Aguila Norte processing plant ("Aguila Norte" or the "Plant") by approximately 120 kilometres of mainly
paved roadway. Sulphide material will be treated at the Plant whereas oxide gold material will be initially
sold to local toll mills.
The new updated metallurgical results on the sulphide material taken in the shaft show positive
recoveries. The head grade of the new metallurgical sample assayed 8.30 grams Au/mt and 3.39
ounces Ag/mt. Precious metal recoveries on the sulphide material using flotation returned 89% for gold
and 61% for silver. The metallurgical sample was taken as a composite over 1 metre located 10 metres
below the oxide and sulphide transition. Previously announced assay results on seven chip samples
taken at various depths in the shaft from the quartz vein containing sulphides returned a weighted
average of 10.51 grams Au/mt, 329 grams Ag/mt and 1.74 per cent Cu. Assay results from these
samples range from 3.06 to 24.1 grams Au/mt, 36 to 865 grams Ag/mt and 0.31 per cent Cu to 4.94 per
cent Cu over an average width of 0.60 metres. The metallurgical work was performed by Ing. Jose
Orlando Moncada Rejas who is the main metallurgist at the Aguila Norte Plant. Assaying was performed
by Procesmin Ingenieros SRL located in Caraz Ancash by fire assay for Au-Ag.
The head grade from the oxide material taken in the shaft above the sulphide mineralization returned
35.1 grams Au/mt and 1.51 ounces Ag/mt. The sample taken was a composite over ½ metre width.
Agitated cyanide leaching results show recoveries of 82% for gold and 58% for silver over 48 hours.
Thirty-one tonnes of gold bearing oxide material assaying 9.74 grams Au/mt was taken from this area in
June 2022 and sold to the Chala One toll mill located in Chala Peru. The price of gold used for the sale
was $1852 US with gold recoveries of 90%.
Previously announced metallurgical work on oxide gold material taken from artisanal workings on a
second mineralized structure north of the shaft returned positive results. A sample was collected from the
sacks with a head grade of 13.0 grams Au/mt and 2.98 ounces Ag/mt. Agitated cyanide leaching results
show recoveries of 92% gold and 65% silver over 36 hours. The sample was a collection of random
grabs and should not be considered representative of the mineralization hosted on the property.
Previous and new metallurgical work on the oxide material was processed and analyzed by fire assay at
Auro Met Labs located in Trujillo. Auro Met Labs is used by many of the miners and toll mills in the area.
The development of the property has been delayed since 2023, due to extensive damage to the access
road as a result of El Niño flooding. New access roads to the underground workings have been
completed and access to all gold showings are now complete. The camp has been upgraded, and the
Company is now in a position to restart the exploration and development work.
The development work by Peruvian Metals at Palta Dorada will concentrate on the main San Juan vein,
where surface exposure shows at least an 840-metre strike length. Work to date includes a 160-metre
access drift on the lower 895-metre level. The opening of the shaft is estimated to be located on the 945-
meter level. Much of the mineral around the opening of the shaft was extracted by the previous owners.
The shaft also shows a distinct sharp transition between sulphide and oxide zones at the 920-meter
level. The Company plans to drift into the vein where the sulphide mineral is exposed in the shaft.
The Company acquired full ownership of the property by acquiring a 50% interest from Rio Silver Inc.
("Rio Silver") in 2024. Peruvian Metals has completed the payments to Rio Silver totaling $250,000
(U.S.) with Rio Silver retaining a 3-per-cent net smelter return capped at $2 million (U.S.).
In December 2025, Peruvian Metals received 3,999,999 shares of Rio Silver Inc. (TSXV: RYO) for the
sale of the Minas Maria Property. Rio Silver closed at 67 cents on January 20, 2026. The Company is
pleased to be the single largest shareholder of Rio Silver.
"
New metallurgical results in both oxide and sulphide material highlight the gold potential at Palta
Dorada. When Peruvian Metals acquired its initial interest in the property, gold was trading at the
$1500 US per ounce level. Now that gold is trading near the $4600 US per ounce level, the economic
viability has been greatly improved. Our provisional permits allow the Company to extract large bulk
samples of both the oxide and sulphide material. In the short term, oxide material will be sold to local
mills. We have successfully sold gold oxide material from Palta Dorada in 2022. Sulphide material
will be transported to our Aguila Norte mill for processing where we will be able to produce an Au-Ag
concentrate for sale. We will continue to review additional gold opportunities in Northern Peru by
moving into the Peruvian gold space which is bolstered by the progress at Palta Dorada. The oxide
gold material, along with similar oxide mineral at our Aguila Norte site, will be one of many catalysts
and sources of material for a potential CIP circuit,"
commented Jeffrey Reeder, C.E.O. of the Company.
Qualified Person
Jeffrey Reeder, P. Geo., is the Qualified Person, as defined in National Instrument 43-101, who has
reviewed and approved the technical contents of this release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model
is to acquire and develop precious and base metal properties in Peru and to provide clients with toll
milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila
Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which
provides the Company with the ability to expand operations past the current 100 tonnes per day level.
ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder
For additional information, contact:
Jeffrey Reeder, CEO
Telephone: (647) 302-3290
Email:
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Disclosure Regarding Forward-Looking Statements:
This press release contains certain "Forward-
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"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
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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
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