Peruvian Metals Samples High Grade at Palta Dorada Peru
Peruvian Metals Samples High Grade at Palta
Dorada Peru
Edmonton, Alberta--(Newsfile Corp. - September 27, 2021) - Peruvian Metals Corp. (TSXV: PER)
(OTC: DUVNF)
("Peruvian Metals" or the "Company") is pleased to provide an update regarding the
exploration and development of the Palta Dorada Au-Ag-Cu project in Northern Peru. The Company has
earned a 50% interest from Rio Silver Inc. ("Rio Silver") in the second quarter of 2021 by completing it's
earn-in requirement of investing USD $250,000 into the project. Recent sampling from the main structure
returned very good results including one sample of 1090 g/t Au and 643 g/t over 0.40 metres.
Current development is focused on the "Main Structure" now called the "The San Juan Vein" exposed
both in underground workings and outcrops over an 800-metre strike length.
High grade mineralization
occurs in quartz veins hosted in granodioritic rocks. The initial work consists of the development of the
main access tunnel located 876 metres above sea level. This main access drift ("876 m level") is
currently at 70 metres and in oxides and is projected to be in the higher-grade sulphide material soon.
Mineralized oxide material extracted from the tunnel is being stockpiled for future sale. Samples taken
from the stockpiles averaged 5.05 g/t Au and 60.33 g/t Ag.
Artisanal workings expose portions of the San Juan vein including a 53-metre deep shaft where seven
chip samples were taken at various depths from a quartz vein containing sulphides. Previously reported
assay results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and
0.31% Cu to 4.94% Cu over an average width of 0.60 meters. The weighted average of the assay results
is 10.51 g/t Au, 329 g/t Ag and 1.74% Cu.
Four recent samples taken from quartz veins in the oxide zone above and near the shaft returned values
between 11.20 and 1090 g/t Au and 21 and 642 g/t Ag averaging a width of 0.43 metres. Sample PD-09
which assayed 1090 g/t Au or 35.68 oz/t Au and 20.35 oz/t Ag is noted to have coarse gold. Samples
were taken between the 930 to 935 m levels.
Two samples taken from the San Juan vein (931 m level) located between the main access tunnel and
the shaft averaged 11.25 g/t Au and 3.01 oz/t Ag.
Approximately 90 metres of advancement on the main
access level is required to reach the downdip projection of these veins.
Sample results from the recent sampling and previous are noted in the table below:
Assays Results:
Sample #
g/t Au
g/t Ag
Description
Level
PD-04
29.41
137
oxide qtz vein 0.2 m outcrop
933 m
PD-05
0.99
5.3
wall rock to PD-04 – oxide breccia
933 m
PD-08
11.20
163
oxide qtz vein 0.6 m outcrop
922 m
PD-09
1090
643
oxide qtz vein 0.4 m taken in shaft
922 m
PD-10
11.84
21.1
oxide qtz vein 0.5 m taken in working
922 m
V-1
16.7
63.4
oxide qtz vein – breccia
931 m
V-2
6.14
123
oxide qtz vein – working
928 m
144085*
55.3
645
oxide qtz vein 0.4 m taken in shaft
927 m
144086*
0.87
35.1
wall rock to PD-05 – oxide breccia
927 m
* Samples taken in 2018 by the Company's geologist
The Company continues to advance the underground development towards obtaining a bulk sample of
the high-grade Au-Ag-Cu material. The main drift is expected to intersect sulphide mineral soon. The
extracted mineral from the property will be processed at the Company's 80% owned fully permitted
Aguila Norte processing plant located in Northern Peru. The oxide gold material extracted from the
workings will be sold to a CIL/CIP plant once sufficient material has been accumulated.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "We are pleased with the
progress we have made with our partner Rio Silver at Palta Dorada. We expect to be in sulphides soon
and will be shipping our first bulk material for processing. Mapping and sampling continue to identify
additional mineralized structures and results will be released soon."
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
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