Peruvian Metals Corp. Commences Underground Development to Access High- Grade Au-Ag Sulphides at Palta Dorada
Peruvian Metals Corp. Commences
Underground Development to Access High-
Grade Au-Ag Sulphides at Palta Dorada
Edmonton, Alberta--(Newsfile Corp. - September 15, 2026) -
Peruvian Metals Corp (TSXV: PER)
(OTC Pink: DUVNF)
("Peruvian Metals" or the "Company") is pleased to announce that the Company
has commenced underground development at its 100% owned Palta Dorada Gold-Silver property (the
"Property") located in the Ancash department in Northern Peru. Road access throughout the Property
has been significantly improved, and all historic adits and mine openings have been cleaned out with
new re-established mine portals. The Company has also purchased the required equipment and
reconditioned the generator and an industrial winch for this work to commence immediately. The Camp
has been significantly improved to house more personnel, and communication infrastructure has now
been established.
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 140 kilometres of mainly
paved roadway. The Company is capable of extracting both oxide and sulphide material. Oxide material
will be initially sold to local tolls mills capable of treating oxide material whereas sulphide material will be
shipped to the Plant for processing.
The work from May to the end August consisted of re-establishing the main mine portals to the San Juan
Vein from two different level locations. The main portal, located on the 883-metre level, is the primary
access to a 180-meter-long drift which required several places to be cleaned out and re-established with
new support infrastructure. This work is now complete, allowing for a safer working environment.
The second working consists of a 53-meter-deep shaft located at the 940-metre level, 320 meters along
strike east-northeast of the lower main portal entrance. The shaft is accessible from surface but also by a
short 20-metre adit at the 920-metre level where the oxide-sulphide transition begins. This drift was also
cleaned out and re-established with new support.
In 2022, a 31-tonne bulk
sample grading 9.74 grams Au/tonne ("Au/mt") was extracted from the oxide
zone and sold to a local mill. 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 (copper). 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 metre.
The initial development will consist of a 50-meter crosscut collared at the 910-metre level aimed to
crosscut the ENE-SWS trending mineralized structure southwest of the shaft. The purpose of this drift
is
to intersect the sulphide zone exposed in the shaft, enabling the Company to simultaneously work two
mineralized
faces. The Company is also installing an industrial size winch located on surface at the 940-
metre level capable of hauling to surface ½ metric tonnes of material per load. Material from this working
will be shipped to the Company's Aguila Norte Plant for processing.
As previously announced (see Company's press release dated April 14, 2026), the head grade of a
metallurgical sample assayed by Certmin S.A., an independent and accredited lab, assayed 11.10
grams Au/mt and 145 grams Ag/mt. Metal recoveries on this sulphide material using flotation methods
confirmed
89%
for gold and 75% for silver. Oxide material taken in the short adit above the oxide-
sulphide transition returned 35.1 grams Au/mt and 1.51 ounces Ag/mt. The sample taken was a
composite over ½ metre width. Previously announced metallurgical results on the oxide zone showed
agitated cyanide leaching results with recoveries of 82% for gold and 58% for silver over 48 hours.
Once mineral processing starts, the Company plans to extend the main access on the 883-metre
elevation level to a distance of 350 metres. Once completed, the Company will extend the shaft
downward to intersect the main drift. This work will provide further improvements to the underground
infrastructure. Part of the future development will also establish underground drill stations to test the San
Juan Vein at depth. The current known strike length of the San Juan Vein is 840 metres and remains
open in both directions along strike.
The Company will also start re-establishing old workings on the SE-NW trending North 1 structure
located on the opposite side of the valley where 12 previously announced samples were taken from
oxide material over a strike length of approximately 450 metres. All samples were strongly oxidized, and
assay results ranged from 1.40
to 17.3 grams Au/mt Au and 10.8 to 456 grams Ag/mt Ag over widths of
0.20 to 0.80 metres. The weighted average of the results is 7.92 grams Au/mt and 102 grams Ag/mt. A
mini-bulk sample was taken for metallurgical work from sacks containing oxide gold material. A bottle-
roll metallurgical test was performed on oxide material with a head grade of 13 grams Au/mt and 113
grams Ag/mt showing recoveries of 92% for gold and 65% for silver over 36 hours.
Nine of these
samples were taken 600 metres WNW of the main portal entrance at an elevation of 1040 metres. The
remaining three samples were sampled at the 950-metre elevation 420 metres along strike to the SE.
"
The Company is pleased to start the underground development at Palta Dorada. The equipment is
now on site, and workers have returned from break to start the new crosscut and the establish the winch
above the shaft.
Metallurgical results from both oxide and sulphide material highlight the gold
potential at Palta Dorada. With the new infrastructure, the Company will also start a property wide
exploration program once mineral processing starts. The Property hosts at least four mineralized
structures that are now accessible. We have successfully sold gold oxide material from Palta Dorada
in 2022. Sulphide material will be transported to our Aguila Norte plant for processing to produce a
Au-Ag concentrate for sale
,"
commented Jeffrey Reeder, CEO. of the Company.
Qualified Persons
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. The previous metallurgical work was
supervised
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 metallurgical work on the main San Juan structure was performed by Certmin's Chief
Metallurgist Ing. Luis Loaiza. Assaying was done in house at Certmin S.A.
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.
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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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
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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.sedarplus.ca
.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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https://www.newsfilecorp.com/release/314325