Sierra Metals Inc. [SMT-TSX, Lima; SMTS-NYSE American] reported drill encouraging results from its Yauricocha mine in Peru.
The current drilling program along the Yauricocha fault system demonstrates high-grade oxide mineralization occurring between the Cachi Cachi and Esperanza zones, which continues and remains open at depth and above.
Highlights included 1.3 metres of 7.95% copper equivalent (CuEq)(gold-silver-lead-copper-zinc); 0.9 metres of 15.48% CuEq; 2.0 metres of 9.74% CuEq; 1.7 metres of 8.09% CuEq; 2.9 metres of 7.95% CuEq; and 1.0 metre of 9.82% CuEq.
Drilling results demonstrating high-grade oxide polymetallic ore have been confirmed in an area between the Cachi Cachi and Esperanza zones along the Yauricocha fault and within current operations at the Yauricocha mine.
To date, 21 holes have been completed from an exploration adit at the 1070 level of the Yauricocha mine in the Yauricocha fault system area. These holes have intercepted oxide mineralization containing high-grade gold, silver, copper, zinc and lead zones. These results demonstrate the potential for high-grade mineralization within the reported area and, more importantly, indicate the continued existence of extensive mineralization. These results come as part of a continuing brownfield drilling program that is testing priority targets at the Yauricocha mine, located 150 kilometres east-southeast of Lima in the Yauricocha mining district (Cordillera Occidental), Peru.
Luis Marchese, CEO, stated: â€œThe results announced today results represent the existence of further potential at a strategically important zone of the Yauricocha mine with the confirmation of high-grade oxide mineralization at depth in the area next to existing operations. The company made a strong commitment to brownfield exploration as part of its growth plan. Results such as the ones released today continue to demonstrate that this investment is paying off with the potential to grow our mineral resources further and add high-value tonnage. This ore will be processed in already existing oxide treatment plant facilities.â€
Alonso Lujan, vice-president, exploration, commented: â€œThe results reported are from the area between the Esperanza and Cachi Cachi zones. They demonstrate significant potential for mineralized resources laterally, to depth, and above in this area located along the Yauricocha fault system, which was previously not explored.” He added, “Following the success of this drilling program, further exploration will be conducted within the area to define its mineralized potential better.â€