Kuya Silver Corp. [KUYA-CSE] has acquired three mineral concessions located in Acombabilla, Huancavelica department, and Chongos Altos, Junin department. Peru. The company has entered into three separate agreements represented by the same parties to acquire the Carmelita 2005, Carmelita 2005 I and Carmelita 2005 II concessions.
The three properties total 800 hectares and are strategically located less than 3km west of Kuya’s Bethania mine. The project provides the company with additional high-priority exploration targets, including a potential strike extension of the high-grade silver-polymetallic vein system that has been identified at Bethania.
Located on the land package is the Carmelita mine, an artisanal mine approximately 3.6km west of the Bethania mine. The project also borders Kuya’s Chinita I concession to the west. With this acquisition, Kuya now holds 2,545 hectares of mineral concessions in the Bethania district.
Kuya’s president and CEO, David Stein, stated, “We are very pleased to acquire this exciting project, located along strike from the Bethania vein system and only a short distance to the mine. Apart from Bethania, we feel that Carmelita is the most advanced prospect in the district, and the veins here bear a striking similarity to mineralization that has been produced from the Bethania mine. It is our intention that if economic mineralization is discovered at Carmelita, it would be run as a satellite mining operation feeding the Bethania mill.”
Kuya recently conducted due diligence on the project where review focused on the Carmelita mine area, which has experienced recent small-scale production, targeting silver-polymetallic veins. During the company’s visit, Kuya geologists observed five veins outcropping on surface and took several samples of the near-surface vein system, that can be traced in outcrop over one kilometre in strike length. Access to the Carmelita mine includes three separate adits corresponding to three different veins.
Highlights of Kuya’s sampling included 490 g/t silver, 8.2% and 0.9% (22.8 oz/t silver equivalent) from Veta Victoria; 196 g/t silver, 2.6% lead and 1.7% zinc (10 oz/t silver eq.) from Veta Esperanza; and 81 g/t silver, 2.4% lead and 6.2% zinc (10.8 oz/t silver eq.) from a stockpile at the Esperanza adit.