Peruvian Metals Corp. Provides Update on Panteria Project
Peruvian Metals Corp. Provides Update on Panteria Project
(Toronto, Ontario – May 22, 2019) Peruvian Metals Corp. (TSXV: PER)(“Peruvian Metals” or the
“Company”) has been advised by Minera Antares Peru, a wholly ow ned subsidiary of First Quantum
Minerals Ltd. (“collectively First Quantum”), of its decision t o terminate its option agreement on the
Panteria Au-Cu projects located 210 kilometres southeast of Lima, Peru in the Huancavelica department.
Jeffrey Reeder, President and Chief Executive Officer of Peruvi an Metals stated: "We wish to thank First
Quantum and its exploration team for the work completed and sig nificant investments made on the
Panteria project over the past three years. Exploration on the main Panteria Copper zone did not meet
their expectations, however the work completed has identified s ignificant Au-Ag targets that warrant
further exploration. The Company will access this work and will identify new partners to continue
exploration on the project."
Since the beginning of the Panteria option agreement (March 15, 2016), First Quantum drilled 8,699
metres in 11 holes. The work by First Quantum identified four m ain mineralized zones: NW Moly, El
Corral, La Quebrada/El Gato and Renaldo. The NW Moly and Renald o mineralized zones remain
untested by drilling.
The untested Renaldo zone is considered a gold-silver precious metal target located 4.5 kilometres east
of the main Panteria Zone. Since 2014, a total 323 rock samples have been taken by the Company and
First Quantum. Rock chip sampling from this prospective zone c overs an area measuring one by two
kilometres. Sampling and mapping encountered gold and silver mi neralization in a high-sulphidation
lithocap that is hosted in shallow dipping volcanics at higher elevations. At lower elevations, creeks
expose hydrothermal breccias and quartz-pyrite-pyrrhotite-magne tite stockwork with locally anomalous
gold values. Similar to the Panteria zone, outcropping, advance d argillic-altered volcanic rocks at the
Ronaldo zone include tourmaline and dumortierite that stratigra phically overlie the breccias. Peruvian
Metals plans to re-evaluate this area and expand upon the encouraging surface results.
The Company will start to compile the results and begin discuss ions with third parties to continue
exploration at the project. The emphasis will be focused on the Renaldo Zone as this is considered a
separate target compared to the main Panteria Zones. First Quan tum’s social programs have generated
community interest in exploration and the Company expects to reintroduce itself as the new operator.
Jeffrey Reeder, P Geo, a qualified person as defined in Nationa l Instrument 43-101, has prepared,
supervised the preparation or approved the scientific and techn ical disclosure contained in this news
release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Pro cessing company. Our business model
is to provide mineral processing 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: [email protected]
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”, “bel ieve”, “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 futu re developments as well as other factors
which it believes to be reasonable and relevant. Forward-lookin g statements and information involve
known and unknown risks, uncertainties and other factors that m ay cause our actual results to differ
materially from those expressed or implied in the forward-looki ng statements and information and
accordingly, readers should not place undue reliance on such st atements and information. Risks and
uncertainties are more fully described in our annual and quarte rly Management’s Discussion and
Analysis and in other filings made by us with Canadian securiti es 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 as surance that they will prove to be
correct. In evaluating forward-looking statements and informati on, readers should carefully consider the
various factors which could cause actual results or events to d iffer materially from those expressed or
implied in the forward looking statements and forward-looking information.