Peruvian Metals Reports that IAMGOLD Has Commenced Drilling on the Mansa Musa Gold-Silver Project in Southern Peru
Peruvian Metals Reports that IAMGOLD Has Commenced Drilling on the
Mansa Musa Gold-Silver Project in Southern Peru
(Toronto, Ontario – November 27, 2018)Peruvian Metals Corp.(TSXV: PER)(“Peruvian Metals” or the “Company”)
is pleased to announce that IAMGOLD Peru SA, a subsidiary of IAMGOLD Corp oration, (collectively
“IAMGOLD”)has commenced drilling on its Mansa Musa High Sulphidation Au-Ag project in Southern Peru.
Peruvian Metals and IAMGOLD entered into an option agreement in December , 2017, allowing IAMGOLD to earn
up to 75 per cent in three stages by completing cumulative cash payments totalling $500,000 (U.S.), delivering a
prefeasibility study , and by securing project financing. The details of the earn -in can be reviewed on the
Company's website at http://www.peruvianmetals.com/minasnioc/.
An initial program comprising approximately 2,350 metres of diamond drilling in six holes has commenced. This
initial phase covering a 300 hectare area has been approved by the Ministry of Mines and Energy. Of the six holes,
three holes will test new targets areas, and three will expand and confirm mineralizati on encountered in previous
drill programs.
New Target Areas: 3 Holes
Diamond drilling at new target areas is first designed to test a large , 1000m by 250m wide, high resistivity
anomaly coincident with a dacitic dome. Two holes will test s ilicified crackle breccias within dome which contain
anomalous gold. One of the holes will test a second target showing a circular geophysical target coincident with
hydrothermal breccias. These breccias also contain anomalous gold.
Historic Drilling Follow-up: 3 Holes
The remaining three holes will be drilled to follow -up drilling in an area where historic holes returned the
following intersections: Hole P7 - 61.4 m of 0.51 g/t Au and 7.67 Ag g/t, Hole P10 – 16.55 m of 0.65 g/t Au and
23.0 g/t Ag, Hole P14 – 60 m 0.31 g/t Au and 19.54 g/t Ag, Hole P16 – 17.7 m of 1.15 g/t Au and 9.78 g/t Ag and
Hole P23 – 201.18 m of 0.45 g/t Au and 5.15 g/t Ag . Mineralization intersected in these historic holes is located
on or near a moderate linear resistiv ity anomaly. One hole is designed to both expand the zone of Au -Ag
mineralization at depth and to investigate the potential for additional mineralization at the contact between the
dacitic dome and volcanic rocks associated with an induced polarization chargeability anomaly. This contact has
not been previously tested for Au-Ag mineralization. The 2003 to 2004 historical drill results have been provided
by Barrick Gold Corporation, the project’s previous operator, and are considered reliable and relevant.
Diamond drilling will be performed by using HQ -diameter drill rods, reducing to NQ diameter if required. Samples
will be prepared and analyzed at ALS's facilities in Lima, Peru. A ll samples will be analyzed using multi -digestion
with inductively coupled plasma finish and fire assay with atomic absorption finish for gold.
The Company will provide updates with the progress of the drilling once all data is compiled and verified by the
Company's geologists. Strict quality assurance/quality controls are in place.
Jeffrey Reeder, P Geo, a qualified person as defined in National Instr ument 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: [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 Statement s: 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 termi nology 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 materi ally 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 s hould 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.