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Peruvian Metals Corp. (TSXV: PER,OTC:DUVNF) (OTC PINK: DUVNF) ("Peruvian Metals" or the "Company") announces the completion of a major overall and maintenance program and the year-to-date production results for 2026 at its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the months of July and August, the Plant processed a total of 6,046 metric tonnes (mt). The Plant has now achieved full production capacity for 28 of the previous 29 months. The Company is also pleased to note that the maintenance work performed on the ball mill and crushing circuit was completed during April through to July. Production was not affected and the Company continues to be on track to achieve another year of full capacity production. Since 2017, the Plant has processed 221,020 mt.
The Company is also pleased to announce that recent sample results from the tailings area show that there is gold and silver left in the tailings. Twenty samples were taken from a dry area within the tailings area and returned 2.4 grams gold ("Au")/mt and 90 grams silver ("Ag") /mt. At the current Au and Ag prices of $4400 US and $65 US per ounces respectively, this equates to 0.108 oz Au equivalent/mt. The gold results range from 1.34 to 3.93 grams Au/mt and silver ranging from 1.24 ounces Ag /mt to 4.37 ounces Ag/mt. Three to four kilograms were taken from several sites within an area of 1500 square metres. Material was taken from 20 to 80-centimetre hand dug pits. The sampling was supervised by Jeffrey Reeder, the CEO of the Company.
A composite sample was also collected within the sampled area for metallurgical test work. The head grade of the metallurgical sample assayed 1.76 grams Au/mt and 75 grams Ag/mt. Results confirmed the high recoveries of gold and silver at 93% and 87% respectively . The lead and zinc content is determined to be insignificant so that any future processing would only focus on recovering the gold-silver. The Company will need to modify its permit by designing an additional process for treatment of the tailings material. A detailed report will be prepared and submitted to the Peruvian Ministry of Mines during the 4th quarter.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, comments: "We are on track for another year at full capacity production. The Company is currently preparing Palta Dorada and Mercedes for bulk sample extraction from the underground sites. The possibility of reprocessing the tailings at Aguila Norte adds another revenue stream, strengthening the financial position 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. The metallurgical work was performed by Jose Orlando Moncada Rejas, Ing, who is the chief metallurgist at the Aguila Norte plant. Assaying of the tailings material was performed by Procesmin Ingenieros SRL, located in Caraz Ancash, by fire assay for gold-silver.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is 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. The Management and Directors have been operating successfully in Peru for over 30 years and the Company continues to acquire and develop precious and base metal properties in Peru. Peruvian Metals has a history of timely transactions that have added long term value for shareholders.
ON BEHALF OF Peruvian Metals
CORP.
(Signed) Jeffrey Reeder
For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
Email: jeffrey.reeder@peruvianmetals.com
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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313269
